Nighthawk Energy PLC (LON:HAWK) was under the cosh as it ran up a red flag about its finances.
The US-focused oil development and production company has notified the Commonwealth Bank of Australia (CBA) that it is not in compliance with the minimum production requirement covenant for the month of September 2017 under the company's reserves-based loan with CBA.
The company and CBA have entered into an agreement to waive this breach, but in the meantime Nighthawk has appointed an investment bank to advise on its available options for the repayment of the loan.
The shares fell 27% to 0.275p on the news, valuing the company at just £2.65mln.
Also on the slide was Tristel PLC (LON:TSTL), the manufacturer of infection prevention, contamination control and hygiene products.
The stock fell 8.3% after the company announced a change to the expected approval date from the United States Environmental Protection Agency (EPA) for Tristel’s foam based chlorine dioxide product, DUO.
The EPA approval is now expected in May 2018, rather than late 2017 as originally anticipated.
Firestone Diamonds unearths a cracker
The discovery of a single gem has lit a fire under the share price of Firestone Diamonds PLC (LON:FDI).
Mind you, it is a 134 carat gem-quality light yellow diamond, which even Jean Harlow or Elizabeth Taylor would not have turned their noses up at.
The diamond came from Firestone’s Liqhobong mine in Lesotho, and is the largest diamond recovered by Firestone to date.
The shares rose 18% to 23p on the announcement.
From diamonds to gold, and Greatland Gold PLC (LON:GGG), which has kicked off the initial exploration campaign on time at its Panorama project.
Greatland also announced that a recently completed review of stream sampling data has highlighted multiple new gold and cobalt anomalies, prompting the shares to march 13% higher to 0.75p.
Proactive news headlines:
SkinBioTherapeutics PLC (LON:SBTX) said its flagship technology had passed a key safety test as it updated on progress. Its SkinBiotix cream was assessed for cellular toxicity and specifically for adverse biological reactions from mammalian cell cultures.
Learning Technologies Group PLC (LON:LTG) is to announce some ambitious growth targets at its Capital Markets Event today. The e-learning group will outline a plan to double run-rate revenues to £100ml and for run-rate underlying earnings (EBIT) to exceed £25mln.
Mosman Oil And Gas Ltd (LON:MSMN) has extended its option deal for the Arkoma project in Oklahoma, where it now has until November 15 to complete its ongoing work programme before making a decision. The AIM-quoted company highlighted that the extension means it can include encouraging recent results from the Cromwell and Union Valley zones to be included in the resources report.
Drilling on Metal Tiger PLC’s (LON:MTR) copper joint venture in Botswana has intersected new zones of visible copper mineralisation 300 metres west and northeast of the planned pit. In all copper mineralisation now extends over a strike length of 1.5 kilometres and remains open.
Asiamet Resources Limited (LON:ARS) has discovered significant mineralisation at the BKZ prospect, 800 metres south of the BKM project which is currently at an advanced stage of conceptual development. Early signs are that BKZ may be viable as a standalone project, with good near-surface gold grades.
Strategic Minerals PLC (LON:SXX) has convened a general meeting to be held at the offices of BDO UK, 55 Baker Street, London, W1U 7EU at 10:30 a.m. on 19 October 2017 seeking to give authority to the directors to set up an option programme.
ClearStar, Inc. (LON:CLSU) has announced that ClearID, its on-the-spot ID validation and face-match technology, and ClearContact, an industry-first electronic qualified labour address book, together have been named a 2017 Top HR Product by Human Resource Executive Magazine.