Shares of Helium One (HE1) continued to prove that they are a stock market darling in the wake of the latest RNS with a 14% rise, and have been on the front foot ever since the fund raise earlier this month. The news focused on progress at Helium One’s Rukwa Project in Tanzania with a drilling rig and equipment mobilised to a forward holding yard. It was also revealed that the Company’s ordinary shares will cross-trade publicly on the US OTCQB Venture Market under the ticker HLOGF with effect from market open in the US. This kind of US listing has been a positive springboard for the more popular shares in London, with Argo Blockchain (ARB) being a notable beneficiary earlier this year.
Of course, when one specialist stock is doing well, investors have a habit of looking around the market to see if there is any low hanging fruit in the same space. Enter Mosman Oil & Gas (MSMN) which recently raised £1.5m to be used for Helium, Hydrogen and Hydrocarbon exploration on EP 145 in Central Australia. As far as the rest of the business is concerned, Mosman said that it has started Q3 with renewed vigour having completed the disposal of the Welch project to enable it to focus on drilling activity. It is also looking forward to the opportunity of what an increased working interest in Greater Stanley in the US will bring. The shares rose 12%.
Open Orphan (ORPH) shares managed to reclaim the 40p plus zone with a 6%, even though the only news of the day was related to the result of its general meeting. Perhaps rather more significant on the stock of the pharma services group was the confession earlier this month that the Company is at an advanced stage of a possible spin out of some of its non-core development intellectual property assets as they are best developed separately from the core services business.
Given the soaring price of copper currently, one would have thought that a company like Jubilee Metals (JLP) would be even more sought after than it currently is. The latest from the group has been that the AIM and Altx traded metals processing company’s progress at its copper operations in Zambia, specifically the first copper concentrate for refining at Jubilee’s Sable Refinery from Project Roan which has been delivered on schedule. The company said that the successful delivery on time of copper concentrate from Project Roan to the fully operational Sable Refinery is the first major step in its commitment to achieve targeted production of 25 000 tonnes per annum of copper within the next four years, and taking a leading role in the processing of surface tailings in Zambia.
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