Perhaps not too surprisingly, palladium producer Eurasia Mining (EUA) spiked higher 10% in early trade, as it spilled the beans regarding its Monchetundra Flanks Project. The company said that the asset had received its license to mine the asset, something which has been flagged by bulls of the company for some months. Even though on the stock market it can very often be better to travel than arrive, shares in the Russia focused group still managed a 3% gain.
NQ Minerals (AQUIS:NQM) kept going with its recent run of positive newsflow as it revealed that it can upgrade its Hellyer asset, with the discovery of new, high-grade mineralisation. The Australia focused group is currently producing poly metal concentrates from tailings at the Hellyer mine. The new underground potential at Hellyer left NQ Minerals at 7.85p.
Adding to its recent rally, shares of Alien Metals (UFO) put on 13% in the wake of an update regarding Brockman and Hancock Ranges, which are part of its Hammersley Iron Ore project in Australia. Here the company said it had identified five new drill targets, and that a maiden drilling programme is set to be initiated with the intention of converting them into fresh JORC resource.
While investors have been waiting on the next newsflow from Two Shields (TSI), we were informed via a TR1, that spreadbettor Spreadex had increased its stake in the technology investor. This came the day after the company announced an update on its cyber security investee company, Brandshield. In that update it was revealed that Brandshield has gone into partnership with NTT Data. Shares in Two Shields were up over 14% on this development.
Shares in natural resources investor ADM Energy (ADME) managed to stay flat on the day, despite news of a £672,000 fund raise, to help it progress with its acquisition of interest in OML 113. The company has recently been on the front foot fundamentally, having beefed itself up with a couple of heavyweight new appointments.
Pharma group Hemogenyx (HEMO) saw its shares jump 14%, and closing at 3 month highs. Given the way that the company has been relatively quiet of late it could very well be the case the fresh news is imminent. Given the group’s moves not only with relation to blood, and autoimmune diseases, one would imagine that there are likely to be noises with regard to Covid-19. In terms of gossip, the stock has tended to jump ahead of news, with the main source of speculation with investors being the idea of Eli Lilly news in terms of Hemogenyx’s CDX antibodies treatment.
After a white knuckle ride in the wake of Friday’s news from Remote Monitored Systems (RMS) regarding its deal to buy face mask group Pharm2farm, it appeared that the buyers were one the front foot again, albeit at the lower levels. After peaking at 0.7p on Monday, support came in below 0.4p, with the shares closing up 13%.
There was a rather simple explanation for the rise shares of Alba Mineral Resources (ALBA) once again, as the time of the company’s investor webinar at 5pm on Tuesday approached. Shares of the diversified mineral exploration and development company added 37%, as expectations surrounding the webinar seemed to grow progressively as zero hour approached.
MelodyVR (MVR) made the right noises as far as the stock market was concerned, as it announced the takeover of music streaming group Napster. The UK group said it was raising £11.7m in order to clinch a deal worth $70m. Given that the size of the deal alone relative to MelodyVR, it becomes classed a reverse takeover, something which means shares of MelodyVR will be suspended until the autumn.
Shares of Nickel Sulphide to Copper group Amur Minerals (AMC) dipped in the wake of a £6.1m fund raise, despite the company’s moves to de-risk its flagship Kun Marie project in Russia. The plan is to use the income from its 14% coupon paying CLN derived from its share of the Roper Bar iron ore project in Australia, to help fund the development of the Kun Manie asset.