Ncondezi Energy Limited shot up 75% to 1.05p, making it London’s best performer, after an update on its strategic review on the power project in Tete, Mozambique.
The board has concluded an internal review of the project and believes there is potential for a grid-scale solar plus battery storage power project at the project site.
Preliminary studies confirm the project site enjoys favourable solar conditions and access to the Mozambique grid, Ncondezi said.
12.40pm: NCC on the rise as it eyes strong second half
Cybersecurity outfit NCC Group PLC (LSE:NCC) expects revenues in the second half of the year to end-May will be “substantially higher” than the 14.2% growth in the first half and the prior year period on a constant currency basis.
The shares rose 2.5% to 189.6p on the news, despite the company also revealing chief executive Adam Palser is stepping down after more than four and a half years in the role.
The group has appointed Mike Maddison, currently head of EY's cyber security, privacy, and trusted technology practice for EMEA, as his replacement, joining the board at the start of August.
11.45am: Longboat Energy rows higher after farming into two near-term gas projects
Longboat Energy PLC (AIM:LBE), the North Sea exploration and production company, has farmed into two prospects on the Norwegian Continental Shelf.
The company is acquiring 20% working interests in Oswig (production licence 1100 and 1100B) and Velocette (PL1016).
Oswig and Velocette are material, gas prospects close to infrastructure in Norway anticipated to drill in the summer of 2022 and the second quarter of 2023 respectively, Longboat said.
10.50am: Clipper motors higher on acquisition timetable update
Clipper Logistics PLC (LSE:CLG, OTC:CLPLF) motored 2.2% after it released new details of the expected timeline of its acquisition by GXO.
The takeover is being effected by way of a court-sanctioned scheme of arrangement. The court hearing is scheduled to take place on 20 May and all being well trading in Clipper’s shares will be suspended on 24 May.
9.55am: Market applauds appointment of experienced CFO at Technology Minerals
Technology Minerals PLC (LSE:TM1) climbed 6.2% to 3.45p after it appointed a chief financial officer with significant natural resources experience.
Chartered accountant James Cable’s most recent appointment was as CFO with the GemRock Company.
Before that he held senior positions with Alien Metals and Mantle Diamonds. He also spent more than a decade with Exxon.
9.00am: Tungsten board accepts 48p per share cash offer
Tungsten Corporation PLC’s chequered sojourn on the London Stock Exchange looks set to end after the board recommended an offer from Pagero Group AB.
Shares in the invoice processing firm jumped 8.1% to 49p after the announcement of a cash offer of 48p per share.
The offer values Tungsten at about £61.5mln.