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Highlights
- Eqtec’s shares surged over 16 per cent after receiving approval for its Deeside project, a £200 million waste to energy plant.
- Helium One reported the commencement of its phase exploration programme at its Rukwa Basin in Tanzania, which led its shares to jump over 6 per cent.
AIM listed penny stocks have become an attractive investment option for investors looking to invest in high growth companies and with a higher risk appetite.
Penny stocks are favoured due to being cheaply priced, allowing bulk buying by investors, and for their possibility of giving high returns. However, they are also highly susceptible to macro-economic shocks and other factors and thus a higher risk investment.
Two FTSE AIM Penny Stocks to Buy
Penny stocks in the alternative energy sector and future-facing commodities in the industrial metals and mining sector have gained recently due to climate change becoming a major focus and as the COP 26 talks have kicked off this weekend.
In view of this, let us take a look at 2 FTSE AIM All-Share index listed stocks and their investment prospects:
- Eqtec PLC (LON:EQT)
Eqtec is a bioscience energy company.
The company recently received approval for its £200 million waste to energy plant Deeside Refuse Derived Fuel project from Flintshire County Council's Planning Committee.
The company is developing the plant along with its partner, Logik Developments Limited, based in Flintshire, Wales. The project is expected to have a capacity of a 9.9 MWe plant.
The group received approval despite facing environmental concerns from the community.
The company also entered into a deal with Anaergia Inc, through Logik Developments, to develop a proposal for a waste-to-energy project using different technologies at the Deeside site.
(Image source: EODHD/Others)
Eqtec’s shares were trading at GBX 1.40, up by 16.67 per cent on 1 November at 11:09 AM BST. Meanwhile, FTSE AIM All-Share index was trading at 1,226.32, up by 0.26 per cent.
The company’s market cap is at £102.76 million, and its one-year return is at 189.31 per cent on 1 November. And, its year to date return is at negative 46.77 per cent as of Monday.
- Helium One Global Ltd (LON: HE1)
Helium One is a premium helium exploration company. The company reported the commencement of its Phase 2 exploration programme at its Rukwa Project based in Tanzania today.
The project commenced a 200-line km 2D seismic campaign and also survey mobilisation and line clearing crew. The stocks of the company surged over 6 per cent following the news.
It also appointed a new COO, Colin Ivory, and CFO, Chris Eyre, as part of its strategy to strengthen its management team.
(Image source: EODHD/Others)
Helium One’s shares were trading at GBX 7.38, up by 6.88 per cent on 1 November at 12:16 AM BST.
The company’s market cap is at £42.47 million, and its year-to-date return is at 2.20 per cent on 1 November. The company was admitted to the LSE on 4 December last year.
