Bellzone Mining PLC (LON:BZM) rocketed higher as it agreed a refinancing with major shareholder Hudson Global.
In additional to a US$6.5mln facility due for repayment in 2018, Hudson has agreed a second US$4mln facility.
Another lender, China Sonangol, has also agreed to push back interest payments on its US$10.2mln loan facility to 31 March 2018.
Bellzone added it is final stage talks with the Republic of Guinea to update its Kalia Base convention, after which it will convert its recent technical study into a full feasibility study of the Ferronickel Project. Financing for the majority of this work has already been raised.
Michael Farrow, Bellzone’s chairman, thanked both Hudson and CSIS for their strong support.
Shares rose 50% to 0.315p.
10.15am ...
Graphene NanoChem plc (LON:GRPH) was at the right end of the movers as it unveiled a new contract to use its new drilling fluid in a couple of shale gas wells in China.
It’s a massive market potentially and Graphene has ambitious plans to supply a major chunk of its with its Platdrill nanofluid.
The order is for 4,000 barrels but the company says drillers in the south east of China are looking to replace up to 120,000 tonnes of the traditional oil based mud with synthetic products.
Chief executive Jespal Deol said the order confirms there is a big market for its product.
Having just come back from suspension and with a £2.5mln convertible loan facility in place, Graphene shares rose by 27% to 11.75p.
VAST Resources PLC (LON:VAST) is another company undergoing a renaissance with the miner adding to last week’s strong gains.
Plans to expand zinc and copper production had already got the share price ticking up before an announcement on Friday that it was in talks with large private equity funds and investors with a view to taking an interest in its Romanian subsidiary.
Shares rose 29% today to 0.38p.