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Prospects for AIM gold miners  

Mining expert Alastair Ford is writing about AIM gold explorers and miners in this month's AIM Journal. 

AIM's gold companies have struggled to keep up with the rise in the gold price. Most of these share prices have fallen over the past year. In previous gold price booms, it has been comfortably outstripped in percentage terms by rising junior explorers and miners. 

He argues that even if we are at the bottom of the market for gold juniors, with an upswing heralded by the currently strong gold price, it will still be a couple of years before the good times return.  

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Cake Box trading sparks upgrade 

Egg-free cakes supplier Cake Box had a stronger than expected second half and the full year was slightly ahead of forecasts. 

In the year to March 2024, revenues were 9% higher at £34.8m, although pre-tax profit dipped from £7m to £5.4m. Like-for-like growth of the store franchises was 4.4%. Pricing strategy is under regular review and there could be a small increase in prices this year.

Twenty new stores were opened last year. helped by a prepayment. The long-term target is 400 stores. Shore forecasts a recovery in pre-tax profit to £6m this year.

Windar Photonics raises £4m

Wind power measurement technology developer Windar Photonics is raising £4m at 35p/share after it was awarded a major order. 


The cash will be spent on R&D and sales. The latest order is from a North American company with Vestas V82 turbines. It covers one-fifth of the company's wind turbines, so there could be additional business. The deal also includes software for the first time. 

This underpins forecast 2024 revenues of €12m, which could return the company to profit. A pre-tax profit of €3.1m is forecast.

Avenir bond issue registry services 

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