Ascent Resources Plc (LON:AST) doubled in value on Thursday afternoon as investors reacted excitedly to a permitting update for its Slovenia project.
“The company has been assured the required permits will be processed without undue, further delay, which the company takes to mean they should be issued in final form in the next two months,” Ascent said in a statement.
Rising 44p or 116% Ascent shares were trading at 82p each.
Mirada Plc (LON:MIRA), meanwhile, shed 14.5% to 0.62p, as it updated investors with a subscription arrangement tied to a loan deal inked in November.
11:00am: North Midland Construction soars, Sirius Minerals hares continue to bounce back
North Midland Construction PLC (LON:NMD), was up 34% to 452p, following the release of its financial results which saw a 19% rise in revenue and 103% hike in pre-tax profit whilst it also boasted of improved margin and cash generation.
Similarly, Elektron Technology PLC (LON:EKT) was pushed 7.5% higher, to 44.6p, as its interim results saw a 16.9% rise in sales, which were highlighted to be “significantly ahead of the prior year” and ahead of market expectations.
Ekf Diagnostics Holding PLC (LON:EKF), was up 7.6% to 39.5p, as it released a pair of updates including commentary that earnings are marginally ahead of management expectations and, separately, it has signed a distribution deal with an affiliate of McKesson Corporation.
Sirius Minerals PLC (LON:SXX) shares continued its recovery following this week’s ‘bear attack’, with the UK mine developer’s shares up 3.17% to 38.46p in this morning’s deals.
9:00am: TUI Group takes a nose dive, Cineworld share shine
TUI Group PLC (LON:TUI) shares dropped 10% as it posted a 7.5% drop in third-quarter earnings but said summer bookings were ahead of last year despite people staying put during the heatwave across Europe.
The tour operator said underlying earnings (EBITDA) fell to €293.6mln in the three months to June 30 from €317.3mln a year ago, hit by an earlier Easter and €13mln in disruption costs related to air traffic control strikes in France. Total turnover grew 5% to €5.0bn, with growth across all divisions and regions, particularly in hotels and resorts, cruises, destination experiences and holiday bookings in the central region.
Gold miner Randgold Resources Limited (LON:RRS) saw its shares fall 2.6%, at 5,356p, as caution over the strike at its Tongon gold mine in Mali offset a rise in second-quarter production and profit, thanks to a good performance at its Kibali gold mine in the Democratic Republic of Congo.
The FTSE 100-listed miner said production rose by 9% quarter-on-quarter to 313,302 ounces of gold in the three months to 30 June 2018, as total cash cost per ounce fell 3% to US$697 and gold sales rose by 5% to US$411.5mln despite a lower gold price.
Steel, mining and vanadium group Evraz (LON:EVR) on Thursday reported strong growth in first half profit, boosted by higher steel prices and cost-cutting initiatives.
The Russia-based steelmaker reported a 65% uplift in underlying earnings (EBITDA) to $1.9bln on revenues 24% higher at $6.3bln in the six months to the end of June and said market conditions in the global steel market had improved during the period.
But, it wasn’t sufficient to keep its share price out of negative territory – Evraz was down 1.3% at 549.6p.
Elsewhere, Cineworld Group (LON:CINE) rose 6%, to 293p, in Thursday’s early deals after it revealed first-half profit almost trebled, thanks to the acquisition of US group Regal Entertainment and solid sales growth in the UK and Ireland.
The cinema group, which completed the £2.5bln purchase of Regal earlier this year, making it the second largest cinema chain in the world, reported adjusted earnings (EBITDA) of $413.6mln in the six months to the end of June – up from $107.5mln a year ago – on sales of $1.86bln.
Proactive news headlines:
Shareholders in group Mirada PLC (LON:MIRA) have been asked to approve majority control passing to its three main backers. The over-the-top streaming software group borrowed US$1.7mln from a consortium of major shareholder Ernesto Tinajero, Enrique Septien, and Luis Martinez in November via a convertible loan.
Touchstone Exploration Inc (LON:TXP) (TSE:TXP) told investors that production in the second quarter averaged 1,717 barrels per day, thanks in part to the success of four wells drilled last year and as new wells drilled this year come online. It marks an 11% improvement from the first quarter and 29% versus the comparative quarter of 2017.
Seeing Machines Limited (LON:SEE) has arranged and completed a workshop aimed at improving the training of pilots in the aviation industry, with three aircraft operators at the event recognising the need for eye-tracking technology.
Scancell Holdings PLC (LON:SCLP) has extended its collaboration with the rheumatology unit of the Karolinska Institute, Sweden’s world-leading medical research university. The pair will focus on broadening the applications for Scancell’s Moditope platform, building on a relationship that’s been in place for more than two years.
Argo Blockchain PLC (LON:ARB), provider of cryptocurrency mining services, is tapping into one of the cheapest clean energy sources in the world. It has signed a deal providing 9.5 megawatts of power with GPU.One, a Canadian data centre hosting company.
Mkango Resources Ltd (LON:MKA) has updated on a major diamond drilling programme at its Songwe Hill Rare Earths project in Malawi. The AIM-listed miner said a total of 6,558m of drilling had been completed as of August 8, comprising 52 drill holes to a maximum depth of around 220 metres, with multiple zones of carbonatite, the primary host rock for rare earth mineralisation at Songwe, being intersected.
Caledonia Mining Corporation PLC (LON:CALE) told investors that gold output was marginally higher in the first quarter of 2018, in line with expectations. Nonetheless, it came despite difficult operational circumstances.
dotdigital Group PLC (LON:DOTD), the leading omnichannel marketing automation platform, has announced that co-founder Simon Bird has informed the company that he wishes to step down from the board with immediate effect to pursue other business opportunities.
Motif Bio PLC (LON:MTFB) (NASDAQ:MTFB), the clinical-stage biopharmaceutical company specialising in developing novel antibiotics, has announced that the company will participate at the following investor events in August and September - 8th Annual Solebury Trout Hamptons CEO Roundtable, August 16, 2018, Bridgehampton, NY; H.C. Wainwright 20th Annual Global Investment Conference, September 4-6, 2018, New York, NY.
BB Healthcare Trust PLC (LON:BBH) said its monthly factsheet for July 2018 is now available on the company’s website.