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Stock Market Watch: #ALS #AML #EEE #KIBO #VDTK #ZOE

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

With most stocks undermined by a combination of the prospect of fresh Government sabotage measures in the run up to the up coming new Flu (COVID-19) season, and the uncertainty over which mediocre candidate will win the US Presidential Election, shares of Empire Metals (EEE) were one of the day’s few risers. The stock jumped 7% off the back of exceptional first drilling results at the company’s Eclipse Gold Project near Kalgoorlie, Australia. The company was also looking forward to first drilling results from the Houdini Project.

One of the other few risers of the day, edging up 3%, was Kibo Energy (KIBO). This was off the back of an announcement from the company that its UK subsidiary Sloane Developments had agreed to develop a 6 megawatt flexible gas power project in the West Midlands. The Development of the project was subject to a successful listing of Sloane, to be renamed Mast Energy Developments, on the London Stock Exchange, targeted before the end of 2020. Kibo Energy is set to retain a 51% interest in Sloane following the new listing.

Something which was totally missed / ignored by the mainstream media, despite positive basing share price movements near 50p, was the strategic agreement and financing, which accompanied car maker (assembler) Aston Martin (AML). The shares surged over 15% at one point in the wake of news that stakeholder Mercedes is to raise its stake to 20%. While Aston Martin has found its sugar daddy, the German car maker now has more of a chance to conquer the high end of the market, something which has so far conspicuously eluded it. Aston Martin shares peaked at 64p, closing at 55p, up 0.5p.

It was time for Verditek (VDTK) to finally say goodbye to the spurious bear attacks on the solar panel and clean technology group has under for several months, as the company raised £3.5m via a placing. This clearly gives the company plenty of runway, perhaps as much as 3 years, to go about gathering contracts and building capacity under the helm of its recently installed, capable CEO. Given the size of the placing, and present volatile stock market conditions, the shares remained relatively stable at 8p, still well above where they were at the time of the last funding.

CBD specialist Zoetic International (ZOE) delivered a trading update, to cap its recent stellar bull run in the stock from below 20p to 40p plus. The highlight of the update was news that the company had received a significant order under one of its existing distribution contracts. Zoetic said it believed that in the manner of Julius Caesar, it had “crossed the Rubicon” towards full commercialisation. Presumably, the future for the company will be as imperious as the Roman Empire’s was.

Under the radar mining royalty group Altus Strategies (ALS) was in focus, with a 20% share price rise, as it announced “excellent” gold discoveries from oxide and sulphide samples from the Diba gold project in Mali. It said the expectation is for a significant upgrade to the existing Preliminary Economic Assessment.

Disclaimer is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Zak Mir

Zak Mir

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