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AIM Round-Up: Providence Resources Gains Nearly 50 Percent
Oct. 23, 2015 09:45AM PST
Resource InvestingThe Alternative Investment Market was on the rise this week, with Providence Resources and Metminco seeing the largest gains from the resource sector.
The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) was on the rise again this week, gaining 0.87 percent to finish at 747.48 points. Overall, the AIM has gained 2.24 percent over the past month.
Several resource companies were also on the rise this week. Ireland-based oil and gas exploration company Providence Resources (LSE:PVR) was up 49 percent for the week, to GBP22 per share. The company reported its half-year results for 2015 at the end of last month. However, there has been no further news from the company that would explain this week’s rise. Australia’s Metminco (LSE:MNC) also saw its share price gain this week, rising 27 percent to GBP0.32. The company is focused on copper exploration assets in Chile and Peru.
On the downside, Clontarf Energy (LSE:CLON) lost 35 percent to finish the week at GBP0.225. The oil and gas exploration and production company is focused on its properties in Africa and South America. Copper miner Rambler Metals & Mining (LSE:RMM) was also down for the week, losing 28 percent to close at GBP4.64.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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