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Risers & Fallers: Doriemus, Aminex, Alecto, Afren, Kea Petroleum

Last updated: 14:00 09 Mar 2015 GMT, First published: 15:00 09 Mar 2015 GMT

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The following companies were the news-driven major risers & fallers at around 3:00pm.

RISERS

Doriemus (LON:DOR) +12%

David Lenigas’s UK Oil & Gas Investment (LON:UKOG) has snapped up an additional 8% of the Horse Hill project, paying Angus Energy £580,000 in cash.  Doriemus has a 6.5% interest in the project.

Aminex (LON:AEX) +5%

The oil and gas company’s 10% owned South Malak-2 well on the West Esh el Mellaha-2 concession in Egypt was this afternoon declared a discovery.

Alecto Minerals (LON:ALO) +18%

The explorer has signed a co-operation agreement with the owner of the tenement adjacent to its Kossanto East project in Mali. The deal could see a cost saving collaboration, allowing them to share a new processing plant.

FALLERS

Afren (LON:AFR) -7.5%

The troubled oil E&P is in default after missing an interest payment on loan notes last week, and trading remains volatile whilst talks continue with creditors and stakeholders.

Kea Petroleum (LON:KEA) -15%

Investors saw the ailing antipodean explorer fall further at the start of the week. Kea is in the midst of a cost cutting programme and a strategic review, which could result in a sale of the company.

“Would love to know what has actually gone on behind the scenes of this company,” said one poster on the London South East investor bulletin board.

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The following companies were the news-driven major risers & fallers at around 1:00pm.

RISERS

Teathers Financial (LON:TEA): +11.5%

The former C A Sperati raised £100,000 through a placing of shares at 4p a pop. Shares rose 0.375p t0 3.625p.

Anglo Asian Mining (LON:AAZ): +11.1%

The Azerbaijan-focused miner has made good progress on building its flotation plant at Gedabek, which is aimed at boosting future metal production. It aims to commission the small scale 20 tonne per hour plant in the third quarter of 2015.

WPP (LON:WPP): +1.2%

Top performing Footsie stock after it released 2014 results. Profit before tax rose 12.0% to £1,452mln and would have been up 21.3% on a constant currency basis.

FALLERS

Altona Energy (LON:ANR): -6.5%

Loss before tax broadened to £1.17mln in the second half of 2014 from a loss of £710,000 in the corresponding period of 2013. Cash had risen to £819,000 at the end of the year from £704,000 a year earlier.

Rockhopper (LON:RKH): -5.9%

The spudding of Premier Oil’s (LON:PMO) Zebedee exploration well kicked off a new phase of oil drilling in the Falklands on Friday. Rockhopper has a 24% interest in the well.

Tullow Oil (LON:TLW): -2.7%

Worst performing Footsie stock. ‘Speculative buy’ rating reaffirmed by FirstEnergy Capital last Friday. Crude oil prices are down a shade.

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The following companies were the news-driven major risers & fallers at around 11:00am.

RISERS

Tengri Resources (LON:TEN): +15.8%

Positive response to bulk assay results at the company’s wholly-owned Taldy Bulak gold and copper asset in Krygyzstan.
“These newly available assay results further evidence the strength and continuity of the mineralisation of the deposit, as previously outlined by our 2014 drilling programme,” said CEO John Levings.

Frontier Mining (LON:FML): +14.3%

Shareholders to vote on Wednesday on delisting of shares from AIM.

Armadale Capital (LON:ACP): +11.8%

More testing at the Mpokoto project in the DRC has confirmed gold recoveries in the 84-92% range on material sorted by a simple screen.

FALLERS

Kea Petroleum (LON:KEA): -12.8%

Strategic review has been in progress for almost a month now.

StratMin Global (LON:STGR): -10%

StratMin reported steady monthly production growth at its Loharano graphite mine, while sales for February came in at 150 tons. That compares with 44 tons sold in January this year from the Madagascar mine.

Tertiary Minerals (LON:TYM): -6.5%

Company has received a notice of exercise of warrants to subscribe for 200,000 new ordinary shares at an exercise price of 2.375p.

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The following companies were the news-driven major risers & fallers at around 9:00am.

RISERS

Eurasia Mining (LON:EUA): + 40.0%

The miner has received two approaches from parties interesting in acquiring some or all of its interest in the Monchetundra asset in Russia.

Meanwhile, the company has accelerated its review of possible new opportunities, with a particular emphasis on “certain opportunities with near-term production possibilities”.

Ark Therapeutics (LON:AKT): +37.6%

Name change to Premier Veterinary Group. Appointment of former Bayer Animal Health country divisional head Graham Dick as a non-executive director. New ticker: LON:PVG

Golden Saint (LON:GSR): +26.6%

Re-rating since the company binned its draw-down facility with Darwin Strategic on 3 March. The diamond seller said it will not draw down further on the £2mln of senior convertible bonds with Darwin Strategic announced last year.

FALLERS

Bellzone (LON:BZM): 25.5%

Profit taking after shares more than tripled on Friday on return from suspension. Trading was restored after China Sonangol agreed to extend and amend the terms of the firm’s loan facility of US$4 million.

Ascent Resources (LON:AST): -22.9%

Has joined PrimaryBid.com, the online platform dedicated to equity crowd-funding for AIM-listed companies. “We are not actively seeking to raise capital; however, the flexibility the platform provides us with the potential to access capital quickly should we choose to do so,” said CEO Leonard Reece.

Transtense Technologies (LON:TRT): -20%

Fell into the red at the half-year stage after reduction in capital expenditure in the mining sector. Underlying loss of £1.65mln, versus EBITDA of £24,000 in the corresponding period of 2013. Revenue slumped to £930,000 from £2.22mln.

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