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Igas Energy gets Notts planning permission boost

Last updated: 15:44 15 Nov 2016 GMT, First published: 08:47 15 Nov 2016 GMT

picture of fracking protest

UK shale gas hopefuls got a late pick-me-up as Igas Energy PLC (LON:IGAS) got the green light for its shale gas project at Misson Springs, in Nottinghamshire.

It now has planning permission to drill two exploration wells with a view to confirming the commercial potential of what are believed to be vast untapped gas resources. Shares rose 9% to 12.51p.

Fellow onshore UK driller Egdon Resources PLC (LON:EDR) was another beneficiary, at least when the result come through but it dropped backed subsequently to a gain of 2% at 14.9p.

Copper miners took a beating as the price surge seen last week tailed off. Large cap KAZ Minerals (LON:KAZ) tumbled 9% to 332.6p as HSBC also lowered its rating.

 

Tharisa sparkles again as mine gets sign off - 11.47am

South African platinum miner Tharisa (LON:THS) has seen the surge in its shares continue since a very bullish trading update last Friday.

News today it had passed a project completion test at the Tharisa mine pushed the shares up a further 8% to a new London high of 156p.

Manufacturing group Carclo PLC saw underlying profits rise by 19% to £4.85mln in the half year to September helped by the technical plastics and LED businesses going well.

On the downside, the fizz has gone out of the copper market, which was enough to knock back Namibia–based miner Weatherly International (LON:WTI) by 13% to 0.85p.

Oil and gas minnow Wentworth Resources Ltd (LON:WRL), meanwhile, shed 8% to 23.4p on third quarter losses and a generally downbeat statement.

Base demand for the remainder of 2016 and all of 2017 will be between 40 and 50 MMscf/d, the junior added. 

 

AdEPT Telecom a big riser as profits surge - 8.47am

A first contribution from recent acquisition Comms UK helped telecoms services group Adept Telecom PLC (LON:ADT) lift interim profits by a quarter.

Shareholders get a similar boost to their dividend and the shares rose 10% to 265p.

Sula Iron & Gold (LON:SULA) made a good start to the day as it revealed its Ferensola gold deposit in Sierra Leone could be significantly bigger than first thought following the latest discovery on the property.

Its geologists have found weathered gold-bearing iron oxide quartz after cutting a road across an area called the Eastern Target. Shares rose 3% to 0.24p.

Pipehawk PLC (LON:PIP), meanwhile, tumbled 11% to 4p on flat sales and higher losses.

President Energy PLC (LON:PPC) is to raise US$20mln through a placing at 6p per share, knocking the shares back 10% to 6.31p while healthcare and drugs group BTG dipped 6% to 605p after results.

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