There was some good news for cancer sufferers as well as investors this week after med-tech firm ANGLE PLC (LON:AGL) reported a breakthrough in the treatment of prostate cancer, which helped its shares add 23% to 67p.
ANGLE’s Parsortix system, which harvests circulating tumour cells (CTCs) from the blood stream, helped researchers from the Queen Mary University of London's Barts Cancer Institute (BCI) find two rare cells.
The first is known as a megakaryocyte and the BCI team was able to link its presence to patients who lived longer after being diagnosed with the killer disease. Parsortix was also able to harvest mesenchymal CTCs, which are linked to poor outcomes.
READ: ANGLE liquid biopsy crucial to prostate cancer breakthrough
The BCI study of 40 people found that combining these two factors enabled the identification of patients who are 10-times more likely to die of their disease in the short-term.
The biggest AIM gainer his week, however, was Great Western Mining Corporation PLC (LON:GWMO) which lived up to the first part of its name as its shares almost tripled in value after it unveiled a sizeable resource increase at its M2 copper-gold prospect in Mineral County, Nevada.
A review and remodelling by WT Cohan & Associates of reverse circulation drilling conducted by GWM in 2013 and 2014 highlighted the scope to double or triple the open pittable resource down dip, towards the Sharktooth Peak, and along the strike of the resource's controlling geological characteristics.
In addition, WTC provided an independent estimate of the Exploration Target beneath the M2 Sharktooth Peak, which was identified by reconnaissance and outcrop mapping, surface sampling and two discovery drill holes in 2014. This indicated contained metal of between 2m – 871,000 tonnes.
Great Western surged 278% higher to 1.48p over the week, although it fell 12% on Friday as the firm milked the gains by raising £1.1mln via a placing at 1.25p a share.
Mosman sells first oil from Strawn
Another resources minnow, Mosman Oil And Gas Ltd (LON:MSMN) was the week’s second biggest gainer, adding nearly 90% at 1.75p on confirmation of the first sale of oil from its Strawn project in Texas.
At the end of May, Mosman said 496 barrels of oil were collected and sold from the project, in which it acquired a 50% stake back in April.
The company said it still plans to increase production and cash flow at Strawn, with the free cash flow continuing to be re-invested back into the project.
Meanwhile, Empyrean Energy (LON:EME) shares jumped 59% higher to 5.3p after the announcement of the appointment of Gaz Bisht to the board of the oil and gas junior.
A petroleum geologist and geoscientist, Bisht has worked closely with the China National Offshore Oil Corporation over the last 10 years in roles with other companies.
Empyrean recently acquired interests in China as well as Indonesia and the US. Bisht was the one who encouraged Empryean to bid for Block 29/11 in the Pearl River Mouth Basin, offshore China.
And Sirius Petroleum PLC (LON:SRSP) gained almost 22% to 0.98p after it confirmed talks with oil major BP PLC (LON:BP.) over funding to support a drilling programme on the Ororo Field in Nigeria.
Reports had suggested BP would lend Sirius between £5mlm and £10mln as part of an offtake deal. Ororo, offshore Nigeria, is Sirius’s main oil producing asset.
AIM All-Share Index underperforms FTSE 100
Overall the FTSE AIM All-Share index put in a cautious performance over the week, however, shedding around 1.2% to 966 points.
That underperformed the blue chip FTSE 100 index, which lost around 0.8% to 7,470 after a topsy-turvey week dominated by the post-election political and Brexit uncertainies.
Back with the AIM gainers, petrol station forecourt software and services group Kalibrate PLC (LON:KLBT) jumped 45% higher to 83p over the week on news it is to be taken private after investment group Hanover Equity Fund LP lodged a £29mln cash offer.
That works out at 85.5p a share – a 50% premium compared to the closing price of 57p on 1 June, the day before the initial approach was made.
The Kalibrate board intends to unanimously accept the offer and are telling shareholders to follow suit.
And Northern Bear Plc (LON:NTBR) rose nearly 25% to 68p after the building services group beat both market and its own forecasts in the year to March just ended.
Roofing was the star performer for Northern Bear, along with “careful contract selection and management” and an expanding customer base.
Fusionex shareholders back de-listing
But at the other end of the performance table, Fusionex International PLC (LON:FXI) saw its shares drop 34% to 35p after its shareholders backed the group’s plans to delist from AIM after an extraordinary general meeting this week.
The software solutions group announced plans for the move on May 26 citing a disappointing share price performance over the past 15 months.
Meanwhile, Entu (UK) PLC (LON:ENTU) saw its shares lose 31% at 18,25p after the home improvement group on Wednesday said that operational issues would take longer than expected to resolve and it would report a loss of between £2.0mln and £2.4mln for the half-year to April 30.
The company said it had found the operational issues identified earlier were more complex and extend further in its supply chain than it had expected.
Blenheim Natural Resources PLC (LON:BLHM) was the biggest AIM faller, however, shedding 37% at 0.52p after it raised £18,107 by issuing 2.8mln shares at a price of 0.65p each to settle warrants that have been exercised.