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MySQUAR shares soar in afternoon deals

A look at some of the hot stocks in early deals on Friday
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PowerHouse shares went north today

MySQUAR Limited (LON:MYSQ) was a notable London riser in afternoon deals on Friday, with shares adding over 18% to 1.60p.

It came after one of the investors in its recent £2mln placing buy another chunk of shares, but this time through the open market.

Imperium Ltd purchased a further 30mln shares or 7.6% of the Myanmar-focused social media group.

It was also an investor in the second tranche of MySQUAR’s recent £2mln funding that replaced a convertible loan with financier Sandabel. READ more here...

1.30pm PowerHouse Energy on the up 

PowerHouse Energy Group PLC (LON:PHE) shares bolted up almost 6% in afternoon deals as it announced a successful production of gas.

It has completed the first phase of the re-commissioning of the waste to energy company’s G3-UHt unit, it told investors

Shares added 5.88%  to 0.90p.

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The G3-UHt unit was shipped over to the UK from Australia earlier this year and  operated at a temperature of over 1000 degrees Celcius, demonstrating its capacity to “gasify any historically difficult waste material and generate synthesis gas".

Also up on the  day was Metal Tiger plc (LON:MTR) whose shares roared up over 7% to 2.95p.

The group said its private placement offering, run by Sprott Capital Partners, has raised even more than expected, with gross proceeds of £4.85mln received by the closing date yesterday.

The AIM-listed strategic natural resources investor said the fundraise, the largest by the company to date, included a total of £4.39mln raised through Sprott – above the £4.29mln targeted – while a further £460,000 was raised through a placing and subscription of shares by the company.

On the downside, GoTech Group PLC (LON:GUSC) shares slipped over 13% as the wellbeing tech firm saw losses widen in the first half of its year, but said its products continue to be well-received and is confident in long-term growth.

Its Skills2Achieve (S2A) product – a digital, physical literacy assessment programme designed for UK schools – has largely been given the thumbs up from those using it as well as sector professionals.

Sales of S2A remained fairly weak though which resulted in an overall loss for the six months to 31 March of £288,000 (H1 2016: £257,000), although GoTech said it hopes to reverse this trend as more schools buy into the product.

 

10am...Strategic Minerals on the up...

A glance at the share chart  of resource group Strategic Minerals Plc (LON:SML) really shows one all you need to know on recent progress.

It plots a steady rise, with the stock rising  around four fold since the start of 2017 when it stood at about 0.5p and it's up again today - nearly 10% to 2p on an update on its latest quarter.

READ - Strategic Minerals very bullish as sales from its iron tailings project in New Mexico hit new record

The latest three months saw record local sales at its iron ore tailings plan at Cobre in New Mexico, which is helping to funding exploration programmes for tin and tungsten in Cornwall and cobalt in Australia.

It has also recently signed up a new client at Cobre that it anticipates will double sales over the current year.

This all leads to a profitable 2017, the firm says,  while the company is now in the healthy position of reviewing what to do with the incoming cash. At end March the cash position was US$695,000.

Another notable riser to end the week was stem cell specialist ReNeuron Group Plc (LON:RENE), which  provided positive updates on two clinical programmes that also gave a roadmap for their progress.

Shares added 7.14% to stand at 2.25p.

The company said it was preparing to meet with US regulators on plans for a phase III trial of its treatment for victims of stroke, while it wants to expand its ophthalmology study.

READ - ReNeuron update outlines ambitious plans for stroke and ophthalmology programmes.

Also up again today was Symphony Environmental Technologies (SYM), which added over 22% to 17.625p. Earlier this week it hailed Saudi Arabia's decision to make oxo-biodegradable plastic compulsory for a wide range of locally-manufactured and imported plastic products.

The products include carrier bags, packaging films, agricultural films, and many other types of plastic products.

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