Gold and silver price rise boosts AIM
Gold and silver prices reached new highs during January. There has been a retreat in both prices since then but they remain at historically high levels. the latest edition of AIM Journal covers this and some of the AIM companies that are gaining from this.
Gold had risen by 64.6% during 2025 and the rise continued into 2026. The peak closing price was $5,439.84/ ounce on 29 January 2026.
Caledonia Mining Corporation has more than doubled cash generation in the past year. The uncertainty concerning the tax regime in Zimbabwe has also been removed.
The gold price rise is making new projects even more commercially viable. This includes Thor Explorations' Douta project in Senegal.
CURRENT EDITION
THIS MONTH'S TOPICS INCLUDE:
Gold and silver boost AIM miners
Why FTSE AIM UK 50 index is underperforming
Victorian Plumbing growth accelerates
Plumbing products supplier Victorian Plumbing has made a strong start to the financial year. After five months, sales are 9% ahead on the same period last year.
This is compared to weak comparatives, but it represents a continued improvement. The expanding of the range of products offered has helped. There was no specific news on the MFI brand.
Victorian Plumbing has paid £3.4m for a haulage company that will help with customer fulfilment for the core business. This will be earnings neutral this year but should be enhancing next year. Stephanie Judge will take over as chief executive from the founder Mark Radcliffe.
ITM Power raises guidance
Electrolyser technology developer ITM Power has increased its guidance for the year to April 2026. This is sparked by deliveries for projects that are earlier than anticipated, plus new projects.
The new guidance is £40m-£43m, compared with £35m-£40m previously. There has been a change to revenue recognition. The new policy is based on the percentage of completion of the project. This is likely to have accelerated recognition of some revenues.
Net cash is expected to be £170.8m at the end of April 2026, falling to £126.5m one year later. This means that there is no short-term concerns about further fundraisings.
