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The Alternative Investment Market in London was on the rise this week, and Nyota Minerals and Antrim Energy were part of the upswing.
The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) was on the rise this week, gaining 1.08 percent to close the week at about 740 points.
Several resource-focused companies were part of that upswing. Nyota Minerals (LSE:NYO,ASX:NYO) was up 54 percent for the week to GBX0.062. The company holds the Ivrea nickel–copper project in Italy, but on Monday Nyota said it is looking at investing in other sectors in light of the extended downturn in the minerals sector.
“With the extended downturn in the mineral sector, particularly in the latter half of 2015, there has been a shift towards greater flexibility and a commensurately more compelling basis on which to secure acquisitive and developmental transactions,” said a statement from the company.
Shares of Antrim Energy (LSE:AEY) also got a bump this week, rising 16.44 percent to GBX1.70. The oil and gas exploration company is focused on its assets in the North Sea and in Ireland.
Not faring so well was Sovereign Mines of Africa (LSE:SMA), which dropped 76 percent to close at GBX0.154 for the week. Aureus Mining (LSE:AUE), focused on gold in Liberia, also saw its share price fall drastically for the week despite securing a US$21-million debt and equity financing on Monday. Aureus also announced a 10-percent increase to its equity financing on Wednesday, bringing the total to roughly US$12.7 million.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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