Firestone Diamonds needs to put another shilling in the meter at Liqhobong

A look at the day's major movers, including Fevertree, Beowulf, Midatech, Zoetic and the LSE

Emergency generators, not diamonds, are a girl's best friend at Liqhobong

Shares in Firestone Diamonds PLC (LON:FDI), down 14% at 0.625p, lost their lustre after the miner reported disruption to production.

Intermittent power supply at its Liqhobong mine in Lesotho has hit operations.

The mine experienced unexpected voltage fluctuations that caused the drives of the plant equipment to trip and as a result, operations have been severely disrupted.

12.30pm: Fevertree wilts on signs that expensive tonic water fad is waning

Shares in Fevertree Drinks PLC (LON:FEVR) subsided to 2,232p from 2,373p overnight, after broker Jefferies suggested UK sales might require a tonic.

Market research data from Nielsen suggests the tonic water market in the UK has been in decline, year-on-year, over the last four months.

“Flattish performance in the 4 weeks implies growth required in the UK for the remainder of the year to hit street estimates (+23.5%) looks high to us given current momentum. If street numbers are shaved for the UK for both current and outer years (top and bottom line), this would act as a restraint on multiple expansion in our view. We expect street estimates to fall given that FEVR is a growth stock,” the broker said.

11.30am: Beowlf's mining application has been a real saga but could be about to end

Who is afraid of big, bad Beowulf Mining PLC (LON:BEM)? No one, it seems, after this morning’s update on the mine developer’s Kallak North project.

The shares were up 8.2% at 6.625p after the company said it believes a decision from the Swedish government is imminent on its application for what is called an “exploitation concession” (i.e. mining permit) for the Kallak North iron ore project.

"It's six and a half years since the Kallak application was first submitted and it's widely recognised in Sweden that the company's application has been completely mishandled, and the case is rightly a focus for investors considering the feasibility of Swedish mining projects,” claimed Kurt Budge, the chief executive officer of Beowulf.

10.30am: Midatech CFO Stephen Stamp tops up his holding

Shares in drugs developer Midatech Pharma PLC (LON:MTPH) rose 6.4% to 6.25p after an executive director increased his stake in the company.

Stephen Stamp, the chief financial officer, purchased 100,000 shares at 5.89p a pop.

The purchase took his holding up to 550,000 shares.

9.30am: Zoetic justice as upbeat trading update vindicated change of direction

Zoetic International PLC (LON:ZOE) shares surged 22% to 4.5p after it said its cash pile and growing revenues are capable of supporting the company.

The company had cash of £1.0mln at the end of September. The company reported revenues of £1.15mln in the six months to the end of September, up from £520,000 in the same period of last year.

The company, which underwent a dramatic change of direction, exiting the natural resources business to focus on cannabidiol (CBD) products, said it expected to make the first sales of its feminised cannabis seeds next year.

The derisory offer from Hong Kong Exchanges and Clearing continues to get the cold shoulder from London Stock Exchange Group PLC (LON:LSE) shareholders but some shareholders are said to be prepared to sell the company down the river for 20% more than the Hong Kong exchange is offering.

According to Reuters, the exotically named Guy de Blonay, who is either the manager of the Jupiter Financial Opportunities Fund or one of Prince John’s cronies in the adventures of Robin Hood, reckons the Hong Kong company would have to increase its offer to between 9,000p and 10,000p – it has offered 8,361p – for shareholders to take the offer seriously.

Shares in the London-listed bourses operator currently trade at 7,298p, up 1.8% on the day.

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