Patagonia Gold plc (LON:PGD) shares are down 8.7% to 89p after saying production at the Cap Oeste mine in Argentina in the quarter ended June was hit by labour disruptions and severe weather conditions.
During the period, a national labour strike in Argentina and below freezing temperatures in May and June affected production.
The Cap Oeste mine is expected to be closed for maintenance on July 15, it added.
As a result, the group cut its 2018 production guidance to 45,000 ounces of gold equivalent from the 59,083 ounces previously estimated.
The company said the MNR approval was the final relevant Russian agency approval required for the mining permit application.
The mine permit application has now been delivered to the office of Prime Minister Dmitry Medvedev for final authorisation.
Shares rose 7.4% to 0.44p.
ECR Minerals shares jump as it raises funds to advance Australian operations
Shares in the company shot up 175 to 0.79p.
The group issued 92.9mln shares at 0.7p each to raise £650,000. If all warrants holders choose to exercise the warrants that have been attached to the newly issued shares, this would generate about £1,045,000 before expenses.
ECR said the funds raised would be used to expand its Australian operations, including an accelerated development programme at the Blue Moon gold prospect in the Victoria region.
The announcement follows the news of drilling success at Blue Moon.
Solo Oil shares boosted by Aminex farm-out agreement
Ruvuma contains the Ntorya discovery where Solo owns a 25% interest.
“This development provides a clear commercial and technical validation of the Ntorya project, which we hope will now move quickly towards production,” said Solo executive chairman Neil Ritson.
Shares in Solo jumped 26% to 2.90p.
The underlying profit before tax in the six months to the end of May plunged to £6.5mln from £13.1mln the year before. The figure excludes a non-cash write-down of £13.3mln in the value of the Coated Technical Textiles (CTT) business.
"The first half has been challenging. Raw material prices have increased more than we anticipated and we have not been able to pass these on in full. Our operational performance is not yet at the level I expect, although we are confident that the organisational changes which we are implementing will improve this,” said Philip de Klerk, who took over as the chief executive officer in January.
Shares dropped 8.3% to 43.90p.
Aminex shares gain after subsidiary signs farm-out agreement
Aminex PLC (LON:AEX) shares jumped 33% to 2.9p after telling investors its subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement with The Zubair Corporation for the Ruvuma production sharing agreement (PSA).
Zubair plans to assign its interest in the farm-out to ARA Petroleum Tanzania Ltd, which will be an affiliate of Eclipse Investments LLC - Aminex’s largest shareholder.
ARA will become operator in exchange for a 50% working interest in Ruvuma PSA, which is located in southern Tanzania and includes the Ntorya project.
Aminex said the farm-out will accelerate the development of the Ntorya project, carry it through to a minimum gross production rate of 40mln cubic feet per day and be self-funded through a full field development project.
"With the Ntorya project carried to a minimum level of production it is now expected that the Company will be self-funded for further development,” said Aminex chief executive Jay Bhattacherjee.
“Aminex continues to develop its Kiliwani and Nyuni assets and is undertaking a review of other opportunities which will deliver robust shareholder returns."
Frenkel Topping Group PLC (LON:FEN), a financial advisor and asset manager, said it expects profits for the year to be below market estimates after increasing marketing spend to maintain market share.
Shares fell 17% to 38p.
The company said it experienced a “softer trading background than anticipated” and lost some clients during the year.
Changes in the Ogden discount rate – used to calculate payouts for injury claims caused in motor vehicle accidents -- also resulted in larger amounts paid out to victims.
ReNeuron rallies on exclusivity agreement
The agreement comes ahead of potentially licensing out its hRPC retinal stem cell technology and therapeutic programmes.
Under the deal, ReNeuron will receive a non-refundable US$2.5mln payment for granting a three-month period of exclusivity and will get the same again following the completion of "certain due diligence activities" during that time.
The company hopes the agreement will lead to a definitive accord later this year.
Shares jumped 19% to 97p.
Recurring revenues are expected to have increased to more than 75% of total turnover in the year to June 2018, compared to 65% last year.
The company signed 48 contracts for its Capita Pay 360 and NewVoiceMedia platforms along with 15 new contracts on the new Amazon Web Services-based platform since its launch in the year.
Indivior and Safestyle UK shares tank
The company’s star drug for opiate drug addiction Suboxone has come under pressure from copycat rivals.
Last month, Indian giant Dr Reddy’s launched a cut-price version of Suboxone. Indivior went to court to prevent Dr Reddy from selling the product, and while a temporary restraining order was granted, the company said it has already seen the impact from the launch of the product into the US market.
The maker of PVCu replacement windows and doors blamed reduced gross margin and increased operating costs.
The company was hit by weaker consumer spending on higher value home improvement products and the loss of significant numbers of canvass, sales and installation staff to competitor NIAMIC Developments Ltd.
Safestyle is taking legal action against NIAMIC, which trades as SafeGlaze, and said it would update the market on the issue in due course.
The group expects non-recurring exceptional cash costs of £6mln in the current financial year, including the costs of legal action and its restructuring along with a fine after a Health & Safety Executive investigation.
Shares fell 18.5% to 40.5p.