AIM Round-Up: Frontier Resources, Edenville Energy Gain as AIM Rises

The Alternative Investment Market (AIM) rose 0.43 points, or 0.06 percent, to 709.31 points on Friday. As Investing.com reported, news that the UK must pay an additional GBP1.7 billion toward the European Union’s budget due to its comparatively robust economy has shaken markets. Prime Minister David Cameron called this demand “totally unacceptable” and indicated that the UK will not be paying, according to the BBC.

While major mining stocks from the UK dropped on the news, some resource companies still thrived on Friday. Oil and gas exploration company Frontier Resources International (LSE:FRI) gained 22.86 percent to trade at GBP1.08. Edenville Energy (LSE:EDL), a coal exploration and development company working in Tanzania, also gained, adding 22.22 percent to hit a price of GBP0.06. Finally, Sovereign Mines of Africa (LSE:SMA), which holds resource exploration subsidiaries, gained 21.74 percent to trade at GBP0.70.

Among the top fallers of the day was Forte Energy (LSE:FTE), an Australian uranium explorer; it fell 37.84 percent to trade at GBP0.12. Tin exploration and development company Stellar Resources (LSE:STG) also fell, losing 27.5 percent to trade at GBP0.72.