AIM Round-Up: Kodal Minerals Up 22 Percent

The Alternative Investment Market (AIM) gained 0.21 percent for the week ended June 12, hitting 775.02 points after a dip on Tuesday. However, growth in the second half of the week was not enough to bring the exchange to the prior week’s close of 776.01 points.

Investors are timid as focus has turned to Greece’s stalled debt talks. The International Monetary Fund announced that its delegation left the negotiations after differences could not be settled, Reuters reported.

“Whilst investors have had plenty of time to reduce their direct exposure to Greece, any exit of the country from the euro zone will generate questions over the resolve and future of the European Union,” said Keith Bowman, an equity analyst at Hargreaves Lansdown, according to the news outlet.

Of the AIM-listed mining companies that saw an increase this week, Kodal Minerals (LSE:KOD) took the top spot, gaining 22.22 percent to reach GBP0.16. The mining and exploration company currently operates in Norway and holds extraction licenses over the Kodal phosphate and iron deposit in Southern Norway. It is also exploring at the Grimeli project in Western Norway.

Amur Minerals (LSE:AMC) also saw gains this week, climbing 22.13 percent to reach GBP37.25. The developing mineral exploration company is focused on base metals projects in the far east of Russia, with its principal asset, the Kun-Manie nickel–copper project, located in Amur Oblast. Earlier this week, the company announced that the detailed exploration and mine production license for Kun-Manie was issued by Rosnedra, the state licensing agency.

Trap Oil Group (LSE:TRAP), an oil and gas exploration company, saw the biggest fall of the week, dropping 24.32 percent to hit GBP0.70. The fall came after the company warned it will run out of money in early July if it can’t secure an additional funding solution, Proactive Investors reported.