AIM Round-up: Sirius Minerals Gains on Mine Permit Approval

The Alternative Investment Market (AIM) All-Share Index recovered after a steep dropoff to start the week, gaining 0.35 percent on Friday. However, the market was still down overall for the week, losing 0.59 percent to finish at 763.97 points. European stock markets slipped this week as investors anticipate results of the latest Greek referendum, Agence France-Presse reported.
The top gaining company on the AIM this week was Anglo Asian Mining (LSE:AAZ), a gold, copper and silver producer operating the Gedabek mine in Azerbaijan. Shares of the company rose about 40 percent to finish at GBP7.00 for the week. On Monday, CEO Reza Vaziri said in a statement that 2015 will see the implementation of a strategy to return the company to profitability, adding that the company was positive it would achieve its gold production target of 70,000 to 75,000 ounces for the year.
Also gaining on the AIM this week was Sirius Minerals (LSE:SXX), which saw its shares rise 34 percent, or GBP 4.65, to GPB22.50. Shares of the potash development company shot up on Wednesday after the company announced it had received its mine permit approval from the North York Moors National Park Authority for its York Potash Project in the UK.
On the downside, dual-listed Oilex (LSE:OEX) lost over 30 percent to finish the week at GBP2.25 per share. The oil and gas exploration and production company fell on Wednesday as investors awaited funding news, according to Proactive Investors. Oilex requested a trading halt for its Australian shares on Wednesday “pending the outcome of a proposed capital raising.”
Ireland focused diversified exploration company Connemara Mining (LSE:CON) also lost ground this week, falling 31 percent to GBP1.38. The company made the list of top gainers last week on the back results from the first phase of prospecting at its newly acquired Inishowen Block. However, there was no news from the company to explain this week’s fall.
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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