Stock Market Watch: #ARB #GLR #PAT #PET #RMS #XSG

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

While we have a pandemic from which well over 98% survive, and therefore 90% plus new vaccine cure rates, the stock market euphoria appears to be gathering. Indeed, in the small cap space it could be argued that it is already Christmas apart from “COVID-19 plays.”
Interestingly, it was not necessarily the Oxford vaccine that caused shares of anti-viral face mask group Remote Monitored Systems (RMS) to decline, but a mainstream media attack (amongst others). For a small cap to be mentioned in the papers is rare unless there is an extremely positive, or in this case negative agenda. Shares of RMS were down 6%, although off their lows, and closed above former investor Braveheart’s (BRH) recent exit price.
Mining exploration and development group Galileo Resources (GLR) saw its shares flying high to the tune of 8%, as it reported on preliminary results of the helicopter flying over its highly prospective Kalahari Copper Belt. The electromagnetic geophysical surveys over its licences in the Kalahari Copper Belt, Botswana were indicated geological settings similar to those known to host copper/silver mineralisation elsewhere in the belt. Galileo said detailed interpretation of the results was underway with a view to identify targets for early drill testing. It also said that two of its licence areas, located 30km west of Sandfire Resources’ A4 Dome project, contain several electromagnetic anomalies.
It was another day to shine for shares of cryptocurrency miner Argo Blockchain (ARB), with another 8% rise, to close well above 10p. The rise was not surprising given the ongoing rally in the digital currencies space. The highlight to start the week was Ripple, up over 25% at best on the day. Argo itself was feeling the benefit of the announcement earlier this month when it said it had expanded mining capacity while simultaneously improving the Company’s mining margins through lower hosting costs and generating an additional stream of revenue.
There was a further decent squeeze higher for shares of clothing and fabric sustainability technology platform Xeros Technology (XSG) ahead of a proposed share capital reorganisation. The purpose of the rejig was to improve market liquidity and trading activity. It would appear that with the latest 16% rise, in the wake of a move higher from 1.35p to 2.15p, the plan is working ahead of the due date on Thursday 26th November.
Panthera Resources (PAT) was up 16%, as investors looked forward to a possible denouement on the key Bhukia Project in India, where as court hearing has been due for November 24th. While this date may be a moveable feast, bulls of the stock were pointing to it being a world class asset of possibly 6.0Moz of gold. Clearly, some were licking their lips at the prospect of a Panthera Resources win.
Shares of hydrocarbon explorer Petrel Resources (PET) finally woke up to the tune of 13%, like many small cap sector counterparts have started to do in the wake of COVID-19 vaccines emerging this month. Petrel with assets in Iraq, Ghana and Ireland has not issued an official announcement since September 21 when it said it was well funded, and with the primary focus on Iraq.

Disclaimer:

Zakmir.com 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

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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