Astar Minerals shares plunge as trading resumes

Trading of Astar shares on AIM has resumed, with shares in the quarry operator plunging almost 67 per cent by midday on Friday.

Trading of Astar shares on AIM has resumed, with shares in the quarry operator plunging almost 67 per cent by midday on Friday.

Shares were suspended on November 12th because the company needed to clarify its financial position after it was unable to raise sufficient funds to follow through on a heads of terms deal with Aggregates West and Valley View Sand and Gravels under which the company agreed to operate a number of quarries based in an area between the US/Canadian border and Seattle.

To resolve the issues the group on Thursday (April 25th) placed 224m new ordinary shares for a gross consideration of £336,000, and announced the disposal of the company's Canadian assets, as a result of which the company is now classified as an investing company.

The share price declined to 0.35p by midday Friday.

NR

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021