One of the biggest casualties this week was Inland Homes, whose projected losses are now expected to range from £37m to £90m.
The builder also faces a difficult situation of containing debt that eventually amounted to £100 million (four times its current market capitalization).
Chairman Simon Bennett called last year’s fiscal year “very disappointing.”
“However, there continues to be a high level of interest in our new homes and valuable agreed lands in the South and South East of England,” he added.
Inland Homes expects losses to be in the range of £37m to £90m.
This had little impact on the market as the stock fell 37% during the trading week. It has lost almost 80% of its value in the past year.
Small-cap’s biggest loser, down 40%, is troubled doorstep lender Moses Club, which is slated for delisting.
Looking to the broader market, AIM All Share is up 1.1% over the last five days of trading. Junior stocks outperformed more prominent blue chip rivals flat in the FTSE 100 over the same period.
Sticking to the dropper story, it’s fair to say that this week’s 25% drop in Beowulf Mining’s value didn’t tell the whole story.
The group should probably be applauded for doing what other junior diggers find almost impossible: raising new money.
For Beowulf, that’s £9.1m, or a third of its current market capitalization.
This is to “move the pace forward” at Karak North, an iron ore deposit in Arctic Sweden, it said.
In life sciences, Faron Pharma fell 7% but replenished its coffers as it completed a new share issue with over £10.5m tendered.
Ostensibly, the funding will be used to accelerate the development of the company’s key asset, Bexmarilimab, a promising clinical-stage cancer treatment.
Shares of Chesterfield Resources fell 18% on Friday after it announced that it had failed to dispose of the Adeline Project.
Pacton Gold was interested in a copper deposit in Labrador, Canada, but decided not to proceed with the purchase.
As a result, Chesterfield will re-initiate the process it started last year and raise interest in the hope that a buyer will emerge.
Elsewhere, eyewear group Inspex jumped more than 80% after saying the deal was in line with revised expectations.
Learning Technologies Group, a digital training specialist, and hVIVO, a contract research group specializing in vaccine trials, beat the city’s predictions and beat Inspecs by one. Stocks jumped 12% and 8.5% respectively.
Ilika’s stake has come under fire after announcing a £2.8m grant for its role in leading the 24-month Faraday Battery Challenge collaboration with the likes of BMW Group and Williams Advanced Engineering.
From 1st February, the UK government-backed Project HISTORY collaboration program will provide a total of £8.2m in funding for all companies involved. Ilika shares are up 44% on him.
RUA Life Sciences stock surged 29% after announcing a distribution agreement with medical device group Corcym to sell large diameter straight and aortic root grafts for cardiac surgeons.
According to Liberum, one to watch is Shanta Gold. The reason, the city’s research firm believes, is that the West Kenya project is a “great untapped gold resource” and continues to be undervalued by share prices.
The broker’s target price is 17p, a 45% premium to the current price of 11.74p.
Finally, as markets begin to settle, investment bankers are likely to emerge from hibernation, delaying many IPOs.
We also hear that a company called Microsalt, a manufacturer of low-sodium salts, could be one of the first new public companies in 2023.
This is the stable of TEKCAPITAL, which invests in university tech spinouts.
Successful TEK investments include medical device group Belluscura (listed on AIM) and Nasdaq-listed Innovative Eyewear.
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