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Stock Market Watch: #VAL #UFO #WSBN

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

Shares in biotech group Valirx (VAL) seemed determined to prove a recent rather ambitious technical call on the stock up to 30p correct, with a punchy 24% rise to 18.1%. Investors seemed to be pointing to a mix of director share buying last month, and results for the key VAL201 due this month – which is a potential treatment for prostate cancer. However, it may be the case that the ongoing re-rate for Valirx shares is based as much on fresh confidence in the company’s management and the prospect of further pharma collaborations.

Australia focused explorer Wishbone Gold (WSBN) continued to feel the benefit of returning to a simple mining strategy in the middle of a boom in the space. The shares were up another 27%, more than doubling since Wednesday’s intraday floor of 2% as traders look to results from White Mountain and Wishbone II. Of late Wishbone has enjoyed a re-rate off the back of eliminating debt, and raising cash to deliver a “stick to the knitting” of being a gold miner.

Another mining play whose stock has continued to rise and rise has been Alien Metals (UFO), with a five fold increase since July. The shares now stand at 0.57p – up another 36%. The latest impetus for the company’s bulls was the announcement that technical director Bill Brodie has been appointed CEO.

It was Kodal Minerals (KOD) which led the way for the small caps space, boasting a 100% share price rise, as the mining group announced a MOU with Sinohydro. The intention is for both companies to develop the Bougouni lithium project in Mali. Interestingly, despite the latest news, and share price rise, the stock remains below the spike to 0.11p seen in early June. The kicker for Kodal Minerals shareholders is that Sinohydro will be funding the feasibility study on the Bougouni project.

Shares of Xtract Resources (XTR) were on the front foot once again with a 14% gain, as the market once again savoured last week’s announcement that an additional mining contractor agreement had been signed regarding its hard rock gold concession in Manica, Mozambique. In particular, Explorator Limitada will be mining the Boa Esperanza deposit at Manica.

There was a fresh leg higher for shares of biotherapeutics specialist 4d Pharma (DDDD), with another 31% added to the stock. The jump comes in the wake of last week’s revelation of positive cancer drug trial results, where the company said expectations had been significantly exceeded.

Fellow cancer treatment company, N4 Pharma (N4P) was also in focus as it announced a technology transfer and new manufacturing contract. This involves the appointment of Ardena as its contract development and manufacturing organisation partner for the technology transfer and upscaling manufacture of Nuvec. The shares inched up 3%.

Horizonte Minerals (HZM) saw its shares rise another 14%, extending a significant bull run, as the nickel development company continued to surf the recent Elon Musk inspired call to production of the metal, as well as an environment of production shortages.

Nickel was also in focus at Power Metal Resources (POW), where the shares were backed in anticipation of drill results from the large Molopo Farms project in Botswana. It also helps that the price of Nickel has jumped 30% since the pandemic kicked in properly in March. Shares of Power Metal were up 16% on the day. 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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