GCM Resources PLC (LON:GCM) rocketed more than 200% to 43.4p as it signed an early stage deal with China Gezhouba Group International Engineering to develop mine-mouth coal-fired power plants at the Phulbari site.
CGGCINTL is a subsidiary of China Energy Engineering Group, a super central state-owned enterprise of the People's Republic of China.
Aquatic Foods Group PLC (LON:AFG) jumped like a proverbial salmon and added 13% to 13p on results that showed revenues improved quarter on quarter and a comment that margins had stabilised. The company supplies and processes fish in China.
Range Resources Ltd (LON:RRL), gave back back early gains to 0,34p. The Trinidad-focused oil and gas explorer announced this morning that it has spudded its next development well in an ongoing drill programme in the country.
The latest well – QUN 158R – is the fourth development well in the current programme and is located on the Morne Diablo field, targeting Upper Cruse and Lower Forest sands. It is a re-drill of a prior well and it is expected to take around three weeks to drill.
Range added that the fifth and final well in the programme will be the GY218 on the Beach Marcelle field.
The rig is at the location and the site preparation has been completed, with Range now just waiting on regulatory approval. It expects to spud GY218 at some point in early December.
What gives at the Alpha Pyrenees Trust? (LON:ALPH). Huge swings today with the shares down 12% at 0.066p as the owner of three properties in France and three in Spain said net asset value had deteriorated to minus 44.6p and tenant demand was weak.
If it can sell any of the properties the price will be lower than book value with no return to investors, it added.
Snoozebox Holdings PLC (LON:ZZZ) was a struggler on the climb but at least it has agreed a change to its debt servicing arrangement, a move that will significantly reduce its cash outflow in 2017. Shares jumped 11% to 0.53p.
Mosman Oil & Gas eased lower after the surge following its acquisition of an 80% stake in Pine Mills, a producing oil field in Texas.
Shares trebled to 2.5p on the news but retreated back to 1.45p today.
SIG plc (LON:SHI), down 22% to 90.25p. The buildings products distributor warned on profits after “weaker than expected trading conditions”.
It now expects to report full-year underlying profits before tax of between £75mln and £80mln.
Castings PLC (LON:CGS), down 5% to 408p. Sales and profits both slipped at the iron castings and machinery group in the six months to September.
It cited “softening demand” from customers for the weak performance, and doesn’t expect to see any improvement in trading conditions before the end of the year.
-- updates for 3.30pm movers--