AIM Round-Up: Oracle Coalfields Gains 43 Percent

- April 2nd, 2015

The Alternative Investment Market declined steadily throughout the week to reach 715.25 after a 0.07-percent drop on Thursday.

The Alternative Investment Market (AIM) declined steadily throughout the week to reach 715.25 after a 0.07-percent drop on Thursday. Weak preliminary economic data from the US, and the continued lack of an aid agreement between the European Union and Greece tamped down investor interest, according to London South East.

Some companies posted strong results despite the market’s overall drop. Oracle Coalfields’ (LSE:ORCP) share price grew 43.24 percent to reach GBP1.32. The Britain-based development company focuses on coal projects in Pakistan. Stellar Resources’ (LSE:STG) share price gained 25 percent to hit GBP0.38. Stellar develops tin projects, and is currently working at the Heemskirk tin project in Tasmania. On March 25, the company announced positive results from a metallurgical optimization program.

The biggest drop hit oil and gas exploration company Tower Resources (LSE:TRP), which has projects spread across the African continent. The company’s share price slid 11.43 percent to close at GBP0.16. Shares of another oil and gas exploration company, Falkland Oil and Gas (LSE:FOGL), followed close behind and fell 9.86 percent to GBP32. Dips in the share prices of these oil and gas companies could be related to investor concern that nuclear talks with Iran could result in the country contributing more oil to global supply, according to Reuters.

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