EQTEC PLC (LON:EQT) jumped 21% as parent Spanish parent EBIOSS Energy reaffirmed its faith in the gasification power specialist by converting a £500,000 loan into new shares.
At the same time, EQTEC will raise a further £500,000 through a placing. Both of the share issues were at 5p.
Shares rose 21% to 6.68p.
Gold recovery specialist Goldplat PLC (LON:GDP) saw profits surge in its latest half year. The group has operations in South Africa and Ghana and posted a 238% rise in pre-tax profit to £1.33mln in the six months to December on revenues of £14.4mln (£10.7mln). Shares climbed 8% to 6.62p.
Feedback plc (LON:FDBK) was a faller even though it expects to see a substantial increase in revenue from its TexRAD software in the second half of the current financial year.
The medical imaging firm had previously reported a significant number of purchase orders for research versions of TexRAD in the first half, but investors wre being cautious and knocked the shares fell 9% to 1.94p.
12.30pm..Beowulf Mining in demand as Kallak decision nears
Beowulf Mining plc (LON:BEM) was in demand even though the Scandinavia-focused miner warned punters not to read too much into the latest comments from Sweden’s chief mining inspector.
The junior has applied for a mining licence for its Kallak iron ore project in Sweden.
Over the weekend, the inspector indicated that she hoped there would be clarity this week over which direction the process for the award of the concession for Kallak North was heading.
Beowulf added there was no new information regarding the award of the concession for Kallak North and while it remains hopeful an award will be made there can be no guarantee.
Shares were 20% higher at 12p even so.
Intelligent Energy Holdings PLC (LON:IEH) added 13% to 8.6p as it signed a contract to supply 600 stationary fuel cells to Luxfer-GTM Technologies.
The deal is part of a growing strategic relationship between the two in fuel cell development. This tie-up will see IE’s cells go into GTM's zero-emission light towers.
Interserve PLC (LON:IRV) took a hammering as the support services and construction group revealed the costs of exiting its energy-from-waste business will double to £160mln from £70mln.
Liberum said even that “may not be enough”, especially as Interserve also warned that it could be harder and take longer to get money back from third parties as its main gasification subcontractor, Energos, was in administration.
Shares crashed 28% to 242p.
9.15am...VAST Resources rockets as letter to shareholders does trick
Junior miners were to the fore this morning. Romania –focused VAST Resources PLC (LON:VAST) rocketed 16% as it confirmed it is fully-funded through to positive cash flow at the Manaila and Baita Plai mines. “The Board see that there is no current need to issue new equity during 2017,” it added. Shares climbed 17% to 0.52p. Premier African Minerals PLC (LON:PREM) picked up as it reported more lithium indications from its Zulu site in Zimbabwe, while tungsten production at RHA is also scheduled for March. Shares jumped 9% to 0.845p Coloured gemstones miner Gemfields PLC (LON:PLC) slipped 6% though to 47.4p as the decision by the Indian government to remove high value notes has prompted it to postpone one of the auctions scheduled for the current year, which will knock its figures.
Proactive news headlines:
Sound Energy PLC (LON:SOU) has begun drilling its latest well on the Tendrara licence in Morocco. TE-8 will be around 12 kilometres from the last successful hole and is what’s called a step out well because it will test the lateral extent of gas that has been discovered in the TAGI reservoir. Shares down 2% to 91.5p
Sareum Holdings Plc (LON:SAR) posted a maiden profit as it received first payments from licensing lead product, a Chk1 inhibitor cancer candidate, to Sierra Oncology. Shares down 8% to 1.1p.
Lekoil Ltd (LON:LEK) has declared that the Otakikpo oil field in Nigeria is now in continuous production. The field is now online at 5,000 barrels of oil per day, ramping up output to 10,000 bopd in the coming months. Shares eased 2% to 25p.
Atlantis Resources Ltd’s (LON:ARL) progress as a leading tidal power developer was underlined on Monday as the company announced that its latest turbine was deployed in record time. Shares were flat at 55p.
Nostra Terra Oil and Gas Company plc(LON:NTOG) has seemingly called off a potential equity fundraising. In a stock market statement told investors that a share placing was ‘in contemplation’ on Friday February 17, but the company said the board has now decided not to proceed with it. Shares fell 1% to 2.5p.
Engineer Hayward Tyler PLC (LON:HAYT) has flagged up a very strong pipeline of new business opportunities, though some orders are taking longer to land. Shares fell 7% to 45p.
Rare Earth Mineral Plc (LON:REM) told investors of a substantial upgrade to the JORC compliant indicated mineral resources at the Cinovec lithium/tin project in the Czech Republic, acknowledging a recent announcement by European Metals Holdings Ltd (LON:EMH). Shares rose a touch to 0.53p.
Following the death of a worker, Pan African Resources plc (LON:PAF) is suspending operations at its Evander gold mine in South Africa for up to 55 days. The suspension comes in the context of a previously announced refurbishment programme and will involve remedial action on two mine shafts. Shares eased 8% to 16.5p.
Condor Gold PLC (LON:CNR) is raising £5.24 mln via placing in which the lead investor will be well-known mining entrepreneur Ross Beaty. Directors will also come in for shares. The plan is to issue just under 8.3 mln units at a price of 62p per unit, with each unit consisting of a share plus half a warrant exercisable at 93p. Shares were 63.9p.
Graphene specialist Directa Plus Plc (LON:DCTA) has been awarded €1mln European grant by the regional government in Lombardy, Italy, to help fund its research into smart fabrics. Directa will be project leader of a team that includes local firms Novaresin and Soliani along with the Politecnico of Milan University. Shares roe 1% to 120p.
Gold recovery specialist Goldplat PLC (LON:GDP) saw profits surge in its latest half year. The group has operations in South Africa and Ghana and posted a 238% rise in pre-tax profit to £1.33mln in the six months to December on revenues of £14.4mln (£10.7mln).
Faron Pharmaceuticals Oy (LON:FARN) has recruited its first patient to a phase II clinical trial of its lead drug, Traumakine, in the treatment of organ failure following a ruptured abdominal aorta aneurysm (RAAA). The condition, which has 70-80% mortality rate, requires immediate surgery. Shares rose 8% to 6.6p.
Feedback plc (LON:FDBK) expects to see a substantial increase in revenue from its TexRAD software in the second half of the current financial year. The medical imaging firm has previously reported a significant number of purchase orders for research versions of TexRAD in the first half of its current financial year. Shares fell 9% to 1.94p.