A definitive feasibility study for its Manica project in Mozambique has indicated it is a robust project that is neither complex nor capital intensive, said Xtract Resources PLC (LON:XTR).
The junior recently scrapped plans for an underground operation to focus just on a pit. Using that option, for an upfront cost of US$43.7mln, payback is under two years at a gold price of US$1,262. Shares eased 5% to 0.026p.
Croma Security Solutions Group PLC (LON:CSSG) was going well after solid interim results and bullish outlook for the rest of the year. Profits more than doubled to £224,000 (£111,000), the dividend went up by 25% and momentum is building the manned guarding and security company said. Shares rose 8% to 43p.
Cancer drug developer ValiRx Plc (LON:VAL) was under the weather as it unveiled a funding round at a big discount to the prevailing market price.
The AIM-listed group is raising £1.16mln at 2.5p to accelerate and complete the current trials of key drug developments VAL 401 and VAL 201. Shares dropped 35% to 2.75p.
By contrast, Faron Pharmaceuticals Oy (LON:FARN) shares climbed ever higher as it revealed investors had clamoured for its latest share issue.
The £5mln worth of shares were issued at a premium to the market price at 350p, but was subscribed in full news that sent the price today up 13% to 400p.
The new funds will be used to expand the pre-clinical and early-clinical development of the company’s immuno-oncology drug, Clevegen.
Like Faron, Jersey Oil & Gas PLC (LON:JOG) is also firmly in investors' favour at present.
The North Sea focused-junior is set to drill the Verbier prospect this project alongside its partner Statoil this summer.
A contractor is expected to be appointed soon with Statoil to cover Jersey’s share of well costs up to US$25mln.
Already almost a twenty-bagger over the past year, shares in Jersey rose another 5% today to 245p.
10.00am...DX (Group) in the doghouse again as planners reject hub plans
DX (Group) PLC (LON:DX) took another knock as the parcels and logistics group had its application for a new central hub at a site in Essington, in the West Midlands, rejected by local authority planners.
The company is now considering its options including the development of an alternative site. Last month, the parcels group stunned its followers will a severe profits warning that also saw the dividend scrapped.
Shares fell 6% to 8.95p. They were trading as high as 23p a year ago.
IGas Energy Plc (LON:IGAS) tumbled 26% to 6.43p as it announced a US$35mln injection of fresh funds from strategic investor Kerogen Capital and a debt-for-equity swap with its lenders.
According to the UK energy group, the company’s new structure will be sustainable in the current oil price environment and maintain its carry agreements worth US$230mln.
The placing will be at 4.5p, while the bond conversion will mean significant dilution for shareholders.
Resources investment tiddler Starvest plc (LON:SVE) has benefited from the upturn in interest in mining with its small cap portfolio seeing a 25% rise in its trading value.
Net asset value rose 4% to 3.21p and after a spike in trading early most of the 30% discount had been wiped away. Shares rose 20% to 3p.
Proactive news headlines
Thor Mining PLC (LON:THR) is about to put the hammer down at its Pilot Mountain tungsten project in Nevada. It has kicked off an eight-hole drilling campaign. Shares rose 7% to 0.805p.
Banking titan Societe Generale has extended its global strategic partnership with banking software leader Lombard Risk Management plc (LON:LRM). SocGen has elected to use Lombard's COLLINE solution for the collateral management and optimisation of its exchange traded derivatives business.
Life sciences firm OptiBiotix Health plc (LON:OPTI) is to launch products containing its cholesterol reducing strain (LPLDL) at the Vitafoods Europe Trade Show.
SDX Energy PLC (LON:SDX) has spelled out a timetable for the hotly anticipated South Disouq exploration well, with drilling kicking off within the next two weeks.
Northern Petroleum Plc (LON:NOP) updated investors on its Cascina Alberto project in northern Italy, where Shell, its partner, is launching a local engagement programme ahead of future exploration work.
International specialist staffing group Empresaria Group plc (LON:EMR) has reported record 2016 profits as net fee income grew for the fourteenth consecutive quarter. The AIM-listed firm saw its adjusted pre-tax profit increase by 23% to £9.2mln in the year to December. Shares rose 4% to 148.6p.
Global big data technology firm Rosslyn Data Technologies PLC (LON:RDT) has won a pilot project with a leading UK financial services firm worth £50,000. Shares flat at 6.5p.
Commercial passenger aircraft leasing firm Avation PLC (LON:AVAP) has received a rating of BB with a ‘stable’ outlook from the Japan Credit Rating agency. Shares steady at 216.5p.
Tissue Regenix Group PLC has received a US endorsement for DermaPure, its wound care product while BATM (LON:BVC) predicted a strong second half.
Mobile live video streaming specialist Servision Plc (LON:SEV) surged 11% higher in early deals after it confirmed it has received its first US$1mln from financier Cascade.
Proxama PLC (LON:PROX) opened more than 12% higher this morning after it secured a contract to work alongside Cisco Systems (NASDAQ:CSCO) on a smart transportation proximity ad model in the Greater Manchester area.
Base metals and uranium explorer URU Metals Ltd (LON:URU) has taken an 8.79% stake in project management specialist Management Resources Solutions PLC (LON:MRS).