Zenith on a high after detailing more drilling plans

A look at the day's major movers, including Blue Star Capital, ReNeuron, Ferrexpo, Yourgene, Serabi, Cerillion, Bacanora and System1

Gaming screens

Shares in Zenith Energy Ltd (LON:ZEN) were at their intra-day apogee approaching the close of trading, up 6.5% at 3.3p after it detailed further drilling plans.

The company, which is awaiting the mobilisation of a rig to its projects in Azerbaijan, revealed intentions to drill further wells.

As part of this future programme, the company said it had identified the M-247 well in the Muradkhanli oilfield as having a highly prospective opportunity for either a deepening or sidetrack well.

3.15pm: Blue Star Capital moves to the top of the table

The market applauded tech investor Blue Star Capital PLC's (LON:BLU) move into esports, sending the shares soaring 40% to 0.1p.

Through an introduction by Jonathan Bixby, one of the original founders of bitcoin miner Argo Blockchain Plc (LON:ARGO), Blue Star Capital will invest about £150,000 each into six esports businesses.

The six outfits will be spread throughout the world in the UK, USA, Canada, Australia and Singapore - and Blue Star intends for each to build up its own franchise in its particular area.

WATCH Blue Star Capital shifts focus to eSports as it invests in six new businesses

2.30pm: ReNeuron receives boost from non-profit research funding group

ReNeuron Group PLC (LON:RENE) was holding on to a small gain, up 0.5p at 167.5p, after unveiling good news this morning.

A leading non-profit group funding research into treatments for retinal degenerative diseases has hailed as “major step forward” a potential therapy developed by ReNeuron.

The shares initially shot up to 175p on comments from Benjamin Yerxa, chief executive of the Foundation Fighting Blindness, followed the presentation of data from a phase I/IIa clinical study by trial investigator Pravin Dugel.

1.30pm: Media reports hit Ferrexpo's share price

Shares in Ferrexpo PLC (LON:FXPO) fell 3.1% to 143.15p after more headlines regarding its chief executive officer and majority shareholder, Kostyantin Zhevago.

The board of the iron pellets producer said it had noted the headlines (without mentioning what they were) and that it was prepared to take whatever action is necessary to protect the interests of the company and its shareholders.

While it did not reveal what the headlines concerning Zhevago were, a heavy hint was dropped by the company's assertion that Zhevago has yet to be served with any legal notice in connection with any alleged wrongdoing.

12.30pm: Yourgene on course to hit ambitious growth targets this year

A half-year trading update from Yourgene Health PLC (LON:YGEN) had the molecular diagnostics group’s share price racing 4.4% higher to 12p.

Revenues for the six months to the end of September more or less doubled from a year earlier, in line with management’s expectations.

Revenues are showing greater diversity with 20% derived from reproductive health products generated by Elucigene Diagnostics, the company it acquired in April of this year, and 17% derived from the group's rapidly growing oncology and research services activities in Asia.

11.30am: Serabi shines after best quarterly production figures this year

Serabi Gold PLC (LON:SRB) advanced 6.4% to 92p after revealing the third quarter was the best this year in terms of production.

Third-quarter gold production totalled 10,187 ounces of gold, resulting in total production for the year to date of around 30,000 ounces, up 11% year-on-year.

The company anticipates full-year production for 2019 will be between 40,000 and 41,000 ounces.

10.30am: Cerillion boosted by major contract win in South Africa

Cerillion PLC (LON:CER), the billing, charging and customer relationship management software solutions provider, surged 5.5% to 192.5p on the back of a contract win.

The company has won a new contract worth £2.9mln with a mobile virtual network enabler in South Africa.

The contract win underpins Cerillion's existing market forecasts for the new financial year.

9.30am: Bacanora gets the readies from Ganfeng

Shares in Bacanora Lithium PLC (LON:BCN) rose 10% to 38p after Ganfeng Lithium completed its strategic investment in the company.

Bacanora has now received £22mln from Ganfeng in exchange for a 29.99% equity interest in Bacanora and a 22.5% joint venture investment directly in the Sonora Lithium Project.

Wang Xiaoshen, the vice president of Ganfeng and the vice-chairman of its board of directors, has been appointed a director of Bacanora Lithium.

System1 Group PLC (LON:SYS1) shares headed 5.5% higher to 192p after a trading update from the marketing services group.

Over the last six months or so the shares have slumped from around 250p but news that normalised pre-tax profits for the first half of the current fiscal year would be around 24% higher than the same period of last year seemed to settle investors’ nerves.

Despite what the company called “continued relatively high levels of investment” during the first half, cash at the end of September stood at £4.1mln, down from £4.3mln at the end of March 2019. The company has no debt.

Proactive news headlines

Bluejay Mining PLC (LON:JAY) has defined seven further drill-ready targets at its Disko-Nuussuaq nickel-copper-cobalt-platinum group elements project in West Greenland.

Shares in Bacanora Lithium PLC (LON:BCN) rose 10% to 38p after Ganfeng Lithium completed its strategic investment in the company.

Iofina PLC (LON:IOF) said it remains on track to deliver record iodine output for the year after its plants processed 167.2 metric tonnes of the crystalline product in the third quarter.

A leading non-profit group funding research into treatments for retinal degenerative diseases has hailed as “major step forward” a potential therapy developed by ReNeuron Group PLC (AIM:RENE).

Keywords Studios PLC’s (LON:KWS) has agreed to a new €140mln loan facility with its lenders in a move it says will provide “further flexibility and headroom” to expand the business.

Caledonia Mining Corporation Plc (LON:CALE) has released third-quarter production numbers for the Blanket Mine, in Zimbabwe, where some 13,646 ounces were unearthed.

Rose Petroleum PLC (LON:ROSE) has revealed a restructuring of its Paradox basin venture which, according to management, is now “better positioned for development”.

Remote Monitored Systems PLC’s (LON:RMS) GyroMetric subsidiary has signed a pilot project contract with one of the UK’s leading suppliers of power generation equipment, Clarke Energy.

Tech investor Blue Star Capital plc (LON:BLU) is to raise up to £900,000 to fund a shift of direction into the esports arena.

Thor Mining PLC (LON:THR) has started its second drilling program at the Bonya tungsten deposits in Northern territory of Australia, hoping to prepare its mineral resource estimates.

PCG Entertainment PLC (LON:PCGE) shareholders are to be given preferential rights to participate in the planned flotation of VOX Markets.

Keywords Studios PLC’s (LON:KWS) has agreed on a new €140mln loan facility in a move it says will provide “further flexibility and headroom” to expand the business.

NetScientific PLC (LON:NSCI) has appointed Dr Ilian Iliev will join the Board with immediate effect as a non-executive director. 

MTI Wireless Edge Ltd (LON:MWE) chief executive Moni Borovitz will present the company's investment case at the Mello investor conference in London on 12 November.


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