Regency Mines Plc (LON:RGM) jumped 20% this afternoon after it confirmed that mining at its Rosa coal project in Alabama will “start shortly”.
Third-party deliveries of coal for washing are expected to start at Rosa before the end of the month as well.
“The immediate priority now that Rosa has become cash flow neutral-to-positive is to accelerate cash flow generation, both by moving from contract washing to mined coal sales at Rosa,” said chairman Andrew Bell.
Adding to the good news, the group also said its Vali Carbon Corporation joint venture had identified a new coal opportunity.
While London’s biggest risers and fallers tend to come from the more volatile AIM market, another big name (the other being Domino’s, see below) cropped up near the top of the losers this afternoon.
WM Morrisons Supermarkets PLC (LON:MRW) slumped 7% despite posting its first profit and like-for-like sales growth for five years.
ETX Capital’s Neil Wilson said investors might be worried that today’s results could represent the “top of the cycle”.
“Worries about declining basket sizes, fading consumer spending health and margin pressure from a still bitter supermarket price war are weighing heavily,” said the market analyst.
Morrisons’ share price was down to 230p, and it dragged its peers with it.
1pm...Vipera strikes with mobile bank deal
Mobile finance services group Vipera PLC, (LON:VIP) along with local partner Wavepac Infosystems, is to develop a mobile banking and payment system for Al Masraf bank.
The project will utilise Vipera's Motif platform and Motif middleware components to deliver a state of the art solution to Al Masraf. Shares rose 12% to 4.75p.
LGO Energy PLC (LON:LGO) perked up on an almost jaw-dropping new price target from broker VSA Capital.
The Trinidad-based oil company is turning the corner, according to VSA Capital, but it will have had to and be some way down the next street seemingly to justify a target price of 22p.
That is around 800% higher than the current price and would value LGO at £110mln.
The shares made up some of the ground today with a 10% rise to 2.63p.
Domino’s Pizza Group PLC (LON:DOM) took a pasting as sales growth at the dominant UK pizza delivery chain slowed again.
UK like-for-like (LFL) sales were up 4.9% year-on-year in the fourth quarter, which was an improvement on the 3.9% growth rate in the preceding quarter, but growth in the current year has been stodgier at 1.5%.
“The Winter Survival deal (which accounted for over 30% of sales in January 2016) did not perform as well as last year said broker Peel Hunt while main rival Pizza Hut became more aggressive,” the broker said as it downgraded to 'hold'.
Shares down 15% to 335p.
10.00am...Nautilus Marine still leagues away from a profit
Nautilus Marine Services PLC (LON:NAUT) was shipping water after annual results showed another hefty loss of US$6.5mln (US$26.7mln).
It was harsh maybe on the company, which has undergone a total transformation into an oilfield services group over the past year.
But a comment that Nautilus has sufficient financial strength and working capital to survive a continued downturn in the offshore services market in 2017 suggested it may be a while before the full benefits of the new direction start to show through.
Shares sank 19% to 13.92p.
"Smarter plastic" products developer Symphony Environmental Technologies plc (LON:SYM) continued its recent surge as it moved into the black last year.
The company, which specialises in making plastic products more environmentally friendly, had signalled back in January a profit was likely and confirmed it this morning, announcing a profit of £123,000 for 2016, versus a loss the year before of £2.3mln.
Shares have tripled in a month and were at it again this morning, adding 11% to 9p.
Biomass power specialist EQTEC PLC (LON:EQT), slumped 19% to 6.1p as it raised £485,000 through a placing at 6.5p.
Formerly known as React Energy, EQTEC is developing the Newry Biomass project and will use the cash for preliminary work ahead of financing, construction and commissioning.