Sunrise Resources Plc (LON:SRES) shined on Wednesday as the explorer revealed that drilling at its CS pozzolan-perlite project in Nevada is due to get underway in a matter of weeks.
Permits for the proposed drilling and trench programmes have come through and Sunrise is now in the final stages of appointing a drilling contractor, with a view to start the drill programme in mid-July.
Trenching will be carried out in the meantime. Shares rose 23% to 0.148p.
Bisht gives boost to Empyrean
Empyrean Energy (LON:EME) rocketed almost 40% to 5.39p as Gaz Bisht was appointed to the board of the oil and gas junior.
A petroleum geologist and geoscientist, Bisht has worked closely with the China National Offshore Oil Corporation (CNOOC) over the last 10 years in roles with other companies.
Empyrean has recently acquired interests in China as well as Indonesia and the US.
Bisht was the one who encouraged Empryean to bid for Block 29/11 in the Pearl River Mouth Basin, offshore China.
He will oversee its operations in China as well as providing advice to Frank Brophy, Empyrean’s technical director.
In addition, Bisht’s company Topaz Energy will transfer 5m of its Empyrean shares to Brophy at no cost to give him a 2.4% stake.
Topaz Energy will retain an 8.3% stake.
Redhall order book impresses
Nuclear contractor and engineer Redhall Group plc (LON:RHL) leapt more than 20% as it unveiled plans to raise £9.75mln through a premium priced placing.
It needs the money to give it enough working capital to meet a surge in orders.
A placing at 10p per share will raise the new funds and coincides with a conversion of £3.75mln of debt into equity.
The price was a near 11% above the closing market price yesterday, but news of the funding and a bullish update from chief executive Phil Brierley has sent the price galloping upwards.
“New build orders in the nuclear sector are coming through faster than anticipated, which is very encouraging for Redhall”, he said.
Shares rose 21% to 10.89p.
Entu (UK) whacked by new warning
Entu (UK PLC) (LON:ENTU) slumped by 31% as it warned trading conditions are tough and it would post a loss this year.
Emphasis will switch to its home improvements business, with the LED business and other commercial revenue streams to be scaled back.
Customer discounts will also now remain to keep the business competitive while boilers and energy-switching businesses will be closed.
There will be a small underlying profit in the second half but due to the write-downs and one-off costs pre-tax losses will be in the range £2.5-3.5mln.
Advanced Oncotherapy revival continues as medical heavyweight joins
Advanced Oncotherapy PLC's (LON:AVO) revival continued, with shares in the proton beam therapy pioneer adding 15% to 20.95p as it appointed another medical heavyweight to its team.
Dr Jonathan Farr has joined as senior vice president of medical physics with immediate effect. He will not be taking a seat on the company’s board however.
Farr has an extensive background in the cancer treatment space and specialises in proton therapy, which fits in well with Advanced Onco’s LIGHT proton therapy system.
He is the chief of radiation physics and associate professor at the St Jude Children’s Research Hospital in Memphis, Tennessee.
St Ives recovery on track
St Ives PLC (LON:SIV) saw its market value jump by a third as the marketing services group reassured with a trading update.
“The first four months of the second half have, as anticipated, delivered a much improved performance; our expectations for the full year remain unchanged.”
Book publishing is going well, but promotional literature for supermarkets continues to be a struggle. Strategic option for both divisions are still being investigated it said.
Shares rose 12.8p to 50.32p.
Intelligent Energy powers higher on fuel cell deal
Loughborough-based Intelligent Energy Holding PLC (LON:IEH) powered higher on the launch of a new range of zero-emissions fuel cell technology.
The commercial product range, the FCM-800 series, comprises fuel cell modules suited to both stationary and portable applications and are capable of delivering between one and four kilowatts.
It is an international launch and orders are now being taken, the company said.
Shares rose 13% to 7.97p.
Proactive news headlines …
Sound Energy PLC (LON:SOU) said drilling at its Badile onshore well near Milan, Italy, has uncovered “significant gas shows”. Drilling and logging must to be completed to establish the full picture.
Shares in Gemfields PLC (LON:GEM) boomed this morning as the ruby and emerald miner looks set to be thrust into the middle of a bidding war. Chinese conglomerate Fosun Gold has approached miner with a more lucrative cash offer than had already been put on the table by its largest shareholder, Pallinghurst Resources.
W Resources PLC (LON:WRES) has published a maiden statement of ore reserves at the La Parrilla tungsten/tin mine in Spain. Based on the reserves of 29.7mln tonnes (mt) at 931 parts per million (ppm) tungsten trioxide (WO3) and 116 ppm tin (Sn), La Parrilla will have an eleven year mine life initially producing 2mln tpa (million tonnes per year) and rising to 3.5mtpa in 2020.
Internet of Things enabler Telit Communications Plc (LON:TCM) has launched its simWISE cellular module embedded SIM technology today. The technology, which is the first of its kind, was developed alongside Telit’s Sweden-listed partner, Tele2.
IronRidge Resources Limited (LON:IRR) has identified what it describes as multiple, significant outcropping lithium pegmatites at the Egyasimanku Hill site in Ghana. Vincent Mascolo, chief executive said: "We are very excited to have located the historical Egyasimanku Hill resource which further vindicates our rigorous and exhaustive research criteria.”
Porta Communications PLC (LON:PTCM) has taken its interest in Redleaf Polhill, the City financial PR firm, to 81%. It has paid £850,037 paid in cash and shares for an additional 15% of the business after a put option was exercised, paving the way to the sale.
Futura Medical PLC (LON:FUM) continues to receive “significant commercial interest” in MED2002, its gel for erectile dysfunction, chairman John Clarke told the company’s annual meeting later Wednesday.
Metminco Limited (LON:MNC ASX:MNC) has sold its 49% stake in the Los Calatos copper project in Peru for US$5mln as it focuses on its gold assets in Colombia. Redfield Asset Management Pty Limited has also increased its holding in the company to 9.83% following share purchases over the past three months.
Mariana Resources Ltd (LON:MARL) has intersected high grade gold-copper mineralisation as part of its ongoing drilling programme at the Hot Maden project in Turkey. In an update on the project, the company said assay results from drilling included 31 metres at 7.5 grammes of gold per tonne of ore from its HTD-118 hole.