Zegona Communications (LSE:ZEG), up 6.1% at 87.5p, cheered the market with its full-year results.
The company made a loss of €34.3mln in 2021 compared to a loss of €5.85mln but a post-tax profit of €114.1mln from discontinued operations (2020: +€19.81mln), meaning it made a post-tax profit overall of €79.9mln(202:+€14.0mln).
The investment company said it has retained sufficient capital to provide adequate time and resources to secure another attractive investment opportunity within the European technology, media and telecoms sector.
2.35pm: Thor Mining higher after Wedding Bell update
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) thundered – well, mild stormed – higher, rising 3.8% to 0.91p after news on its Wedding Bell uranium project in southwest Colorado, US.
The company has received county approval to undertake exploration drilling at the Rim Rock and Section 23 prospects of its Wedding Bell project.
"Thor has worked closely with the San Miguel County to systematically work through the permitting process and is delighted with the positive outcome,” said managing director Nicole Galloway Warland. “We look forward to getting on the ground and testing these shallow high-grade uranium targets, especially Section 23, which is untested despite the favourable geological setting.”
1.40pm: Endeavour Mining tops the Footsie after Sabodala-Massawa decision
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) was the top blue-chip riser, up 7.7% at 2,064p after it said it will soon launch the construction of its Sabodala-Massawa expansion.
The company said the decision to sanction the expansion of the project in Senegal was supported by the recently completed definitive feasibility study (DFS).
The DFS recommends the expansion of the Sabodala-Massawa complex by supplementing the current 4.2mln tonnes per annum carbon-in-leach plant with a 1.2mln tonnes per annum BIOX plant to process the high-grade refractory ores from the Massawa Central Zone and Massawa North Zone deposits, with first gold production expected in early 2024.
12.45pm: Fulham Shore sees customers flock back
Investors tucked into restaurants group Fulham Shore PLC (AIM:FUL) after it said customers are flocking back to its Franco Manca and Real Greek restaurants.
During the second half of the financial year (to 27 March) both Franco Manca and The Real Greek businesses delivered strong underlying performances. This was achieved despite periods of disruption, including the UK government's guidance to work from home due to the Omicron variant, the company said in a trading update.
The shares rose 6.5% to 16.5p after the company said it is still ‘considering formulating a dividend policy during the coming financial year, reflecting the board's continued confidence in the outlook for Fulham Shore.’
11.50am: Directa Plus hoping to clean up in the US oil contamination market
Directa Plus PLC (AIM:DCTA, OTC:DTPKF) hardened 9.5% to 132.5p as it announced plans to enter the oil contamination market in the US.
The company has received authorisation from the United States Environment Protection Agency (EPA) for its Grafysorber technology to be used in oil contamination treatment.
Directa Plus's patented Grafysorber technology is a graphene-based solution for treating water sludges and emulsions containing hydrocarbons and is at least five times more effective than current technologies, the company said. In addition, Grafysorber is sustainably produced, non-flammable and reusable, with the adsorbed hydrocarbons recoverable.
10.55am: Ted Baker open to offers
Ted Baker PLC (LSE:TED) was up 15% at 146.8p this morning after one of its suitors, Sycamore Partners Management, improved its bid proposal.
The fashion firm rejected two unsolicited bid approaches in late March, one of which was from Sycamore; the private equity firm has now come back with an improved offer while the company has also received an expression of interest from a third possible bidder.
In view of the interest expressed by potential offerors, and having consulted its major shareholders, the board has decided to conduct an orderly process to establish whether there is a bidder prepared to offer a value that the board considers attractive relative to the standalone prospects of Ted Baker as a listed company.
10.00am: Oilex seeking clarification over use of facility at Cambay C-73 well site
Oilex Ltd shares took a step back as the company sought clarification regarding the environmental clearance certificate it received from the Indian regulator.
The Gujarat Pollution Control Board is questioning whether the certificate authorises the use of the early gas production facility at the company’s Cambay C-73 well site as the certificate does not specifically mention the facility by name.
Not surprisingly, Oilex is asserting that the certificate does give it the all-clear to use the facility and says it is specifically referred to in clause 17 of the certificate. You can check this out yourself if you wish on the Oilex website.
9.05am: Thruvision Group higher as Covid backlog starts to clear
Thruvision Group PLC (AIM:THRU) climbed 14% higher to 31p after it revealed an upturn in the second half of its financial year.
The provider of "safe distance" people-screening technology to the international security market said revenue for the year to the end of March is expected to be around £8.4mln, up from £6.7mln the year before.
With the broader effects of COVID starting to recede, several new international government agency opportunities have emerged, the company revealed in a trading update. Also, previously stalled engagements with other customs authorities and prison services are starting to move forward again, it added.
Future Metals NL (ASX:FME, AIM:FME) advanced 6.1% to 13p after an encouraging operational update.
The platinum group metals (PGM) explorer reported further shallow, wide PGM assay results from the resource definition drilling completed to date at its wholly-owned Panton PGM project in northern Western Australia.
Assay results received for a further three resource definition holes all confirmed that the mineralisation extends to widths over 50 metres along the 3.5km strike.