After several years of persistence Amur Minerals (LON:AMC) has secured a production licence from the Russian authorities.
Amur shares more than doubled in value on Friday following the breakthrough news, which allows the Kun Manie nickel and copper project to move into the development and pre-production phase.
Robin Young, Amur’s chief executive, said the Russian authorities have now given the company “considerable leeway to advance the project as quickly and efficiently as possible.”
Wireless metering specialist Cyan Holdings (LON:CYAN) advanced higher thanks to a letter of intent from El Sewedy, which intends to use Cyan's meters in a smart meter for a contract it won in Western Africa.
88 Energy (LON:88E) also made gains, rising around 10%, after the oil explorer hired drilling and project management specialist Erik Opstad to oversee operations at Project Icewine in Alaska.
First Polish gas reserves for San Leon (LON:SLE) sent its share up strongly, about 25 per cent at one point.
East Africa focused Aminex (LON:AEX) was also in positive territory after it told investors it anticipates ‘first gas’ production from the Kiliwani North field shortly (by mid-2015).
Rose Petroleum, which has both US shale and mining assets, revealed positive analysis of a recently drilled well in Utah, but the share price softened as it also detailed a £3.1mln equity fundraise.
Antipodean explorer Mosman Oil & Gas (LON:MSMN) moved lower on Friday, losing around 15%, after it sent samples away for lab analysis in an attempt to find out why a well at the Petroleum Creek project has suffered limited flows.
Flow testing operations have produced just 28 barrels per day, and the majority of the fluid has been water.