AIM Round-Up: Sovereign Mines of Africa Takes Top Spot

- October 16th, 2015

Sovereign Mines of Africa was the top gainer on the AIM last week, while Patagonia Gold also enjoyed a nice boost.

Last week, the Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) rose 4.95 points, or 0.67 percent, to reach 741.05 points.
A number of companies in the resource space also saw gains during the period, with the top gainer being Sovereign Mines of Africa (LSE:SMA). The gold-focused company saw its share price increase by a whopping 296.55 percent to reach GBX1.15, though it released no news that would explain the gain.
Patagonia Gold (LSE:PGD) also enjoyed a big gain this week — its share price rose 55.1 percent to end at GBX1.90. The company, which is centered on exploration, development and production at gold and silver properties in Argentina’s Patagonia region, also did not release any news that would explain its gain.

On the losing side, Sefton Resources’ (LSE:SER) share price dropped 60 percent this week to end at GBX0.024. The company is working at oil and gas production via its subsidiaries TEG Midcontinent and TEG Transmission, and its activity is centered on the Forest City basin in Kansas.
This week, Sefton released an update on proposed board and management changes. Significantly, the company’s CFO and secretary has handed in her notice, while the prospective replacement nominated advisor introduced by the proposed new directors of the company “has decided not to proceed.”
Forte Energy (LSE:FTE,ASX:FTE) also took a hit this week, losing 22.67 percent to reach GBX0.014. The company, which is focused on the exploration, evaluation and development of uranium and energy projects worldwide, did not release any news during the period.
However, it did say earlier this month that it has terminated a partnership agreement with European Uranium Resources (TSXV:EUU), forfeiting its 50-percent beneficial interest in Ludovika Energy and Ludovika Mining. Those entities held the Slovakia-based Kuriskova and Novoveska Huta uranium projects.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 
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