RE: Largest shareholders .6 Nov 2021 18:25
Clontarf Energy (AIM: CLON) also issued an interim statement. The most impressive aspect was the relatively small loss of £137,000. Most AIM companies run losses of £1-2 million a year (usually mainly, if not all, administration expenses), so it just shows how much room there is for cuts at most of them should shareholders ever effectively activate. As always, it’s delay after delay for CLON with their various assets in Bolivia, Chad and Ghana, but at a market capitalisation of just £2.4 million, it’s possible for the share price to explode upwards should the company announce any sort of meaningful news. That’s exactly what happened with CLON’s sister company, Petrel Resources (AIM: PET), which I highlighted as a favourite several times in 2019 at around 1p. It subsequently hit 26.5p, up over 2,500%.