AIM Round-Up: Stratex International Rises 20 Percent

The Alternative Investment Market (AIM) fell 0.17 percent on Friday, but still closed the week at 776.01 points, higher than the week before. Positive economic news from the US and Germany buoyed stocks around the world, though that positivity was tainted by continued uncertainty surrounding Greek debt negotiations.

Stratex International (LSE:STI) saw the biggest gain during Friday trading, with its share price increasing 20.69 percent to reach GBP1.75. The exploration and development company holds interests in projects in West Africa, Turkey and East Africa. The share price rise followed its announcement of a deal involving Goldstone Resources (LSE:GRL). On June 4, Goldstone revealed an expansion to its joint venture agreement with Cherry Hill Mining — Goldstone will gain 90-percent ownership of the Homase/Akrokerri project in Ghana as a result of the expansion. Stratex holds a 33.45-percent interest in Goldstone.

Africa-focused gold company Sovereign Mines of Africa (LSE:SMA) was the day’s biggest loser, with its share price dipping 47.92 percent to hit GBP0.25. The company released financial data for 2014 on June 5, and it shows that the company has been unable to find a partner to develop its Mandiana gold mine project. The company intends to keep seeking a partner for the project, but states in the release that it will be unable to continue exploration if it cannot find a partner.

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