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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Pharma & Biotech

URU Metals keen to join lithium wave

Biggest share price risers and fallers at 10.am: Anglo African, EG Solutions, Tanfield Group

News that URU Metals (LON:URU) is also investigating opportunities in the lithium space was enough to add 56% to its share price at 3.92p.

A placing at 4.5p, or a big premium, to the market price also helped with directors and major shareholder Niketo all putting up money.

Xtract Resources PLC (LON:XTR) was another junior in demand as it unveiled a plan for alluvial gold mining at its Manica project in Mozambique.

The aim is to find a quick route to cash flow with Xtract expecting its first income as early as the second quarter of this year.

Shares rocketed to 0.033p, up 46%.

Evgen Pharma PLC (LON:EVG) rose 17% to 21.7p as it signed a services agreement with APTrans to support the ongoing development of lead product, SFX-01.

APTrans is a consortium of drug development companies spun out Astra Zeneca and based in the Biohub at Alderley Park, Cheshire.

They specialise in collaborating with small biotech companies bringing through new medicines.

12.30pm ...European Metal riding high on lithium wave

European Metal Holdings Ltd’s (LON:EMH ASX:EMH) share price is being driven higher by the surge of interest in lithium.

Electricity storage and growth in electric car use are expected to see demand for the soft metal take off and dual–listed EMH has a potentially major deposit at Cinovec in the Czech Republic.

Assays last week showed it had hit a intercept 361.5m wide averaging 0.43% lithium dioxide with a high grade interval of 14.7m.

Keith Coughlan, chief executive, described this as in a 'league of its own' in the lithium space.

Shares rose 19% to 65p to make it a 66% gain this month.

Slovenia-focused gas group Ascent Resources PLC (LON:AST) Shares eased 4% to 2.13p.as it raised £3mln at 1.85p.

Company said it had seen a strong response from private and institutional investors, while Colin Hutchinson, chief executive, bought 270,000 shares.

Falanx Group Ltd (LON:FLX) rose 6% to 6.38p as it said its new division focused on advanced cyber threats is up and running in a new cyber defence centre in Birmingham.

Stuart Bladen, chief executive, said: "The creation and ownership of our own security technology is fundamental to our business. It provides us with the ability to be more agile, adaptive and efficient than our competitors.”

10.00am ...New supply deal spices up Anglo African Agriculture

Anglo African Agriculture PLC (LON:AAAP) shot ahead as its Dynamic Intertrade subsidiary won a contract to supply up to 300 tonnes of specialty spices throughout the year.

David Lenigas, chairman, hailed the contract as a tremendous achievement that stemmed from outstanding work last year with the customer, excellent quality controls and its FSSC accreditation.

“This order now places the company in a good position to exceed last financial year's 1,000 tonnes sold,” he said.

Shares rose 11% to 1.5p.

EG Solutions plc LON:EGS) rocketed 25% to 51.3p as it predicted record revenues of at least £5.69mln in second half of the year to January after a refocused strategy and several contract wins boosted trading.

As a result, adjusted underlying earnings [EBITDA] for the second half should come in at more than £2mln.

EG has also signed a master services agreement with a leading business process outsourcer (BPO),

Tanfield Group PLC (LON:TAN) slipped 6% to 13.53p as Smith Electric Vehicles ceased all trading operations. Tanfield owns a 5.76% stake in Smith, but already has taken a full impairment for its stake.

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