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Wishbone Gold in demand as drilling starts at Red Setter

Last updated: 15:05 17 Jun 2022 BST, First published: 09:16 17 Jun 2022 BST

Future PLC -

Wishbone Gold PLC (AIM:WSBN) saw its shares harden 4.4% to 12p after it said drilling is underway at the Red Setter project.

The Red Setter Project in the Paterson Range area in Western Australia is situated on the 57.4km2 wholly-owned exploration licence EL45/5297 and is located 13 km southwest of Newcrest Mining's Telfer Gold-Copper Mine and 60km west of Newcrest and Greatland Gold's Havieron gold-copper discovery.

The first phase of the drilling contract is for 3,000 metres of drilling at Red Setter, with the second phase of the contract for a further 7,000 metres of drilling split between Wishbone’s Red Setter Project and the company's Cottesloe Project to the south.

2.55pm: Bidstack announces chair designate

Bidstack Group PLC (AIM:BIDS, OTC:FTBGF) named David Reeves as its chairman designate ahead of a handover in September to succeed Donald Stewart.

Reeves joins the board with over 30 years' global experience in senior management roles within the video games industry, including positions at Sony, Capcom, E Fundamentals and Keywords Studios.

Shares in Bidstack were 11% higher at 2.5p on the news.

2.00pm: James Fisher unveils new CEO

James Fisher and Sons PLC, the marine services company, has landed a new chief executive officer (CEO).

Jean Vernet, who was until recently the CEO of John Crane (NYSE:CR), the largest division of Smiths Group (LSE:SMIN), will take up the gig on 5 September 2022, at which point Eoghan O'Lionaird will step down from his position on the board and his role as chief executive officer.

O’Lionaird will remain employed by the group until 13 June 2023, to ensure a smooth and effective transition of responsibility.

1.05pm: Abrdn Property share price mystery

“Abrdn Property Income Trust Limited director resignation” was the headline and a 35% rise in share price was the effect, which must have made the director in question well chuffed.

Said director is Huw Evans, who has resigned as a non-executive director.

12.10pm: ASOS rallies as three directors buy shares

ASOS PLC (LSE:ASC) shares must be cheap. At least, that’s what chair Ian Dyson and two other non-executive directors would like us to think after they topped up their holdings.

Dyson bought 6,000 shares at 827.59p a share, taking his holding up to 15,205.

Jørgen Lindemann snapped up 57,392 shares at 854.26p a share; Lindemann’s holding now stands at 62,052.

Patrick Kennedy got the best price, buying 30,000 shares at 809.65p, raising his shareholding to 53,000.

The company cut its full-year profit guidance this week to reflect the impact of inflation on consumer behaviour, which prompted a savage mark down in the shares from 1,160p to 783.5p in a single day.

Today, the shares have recovered 11% to 871p.

11.15am: Directa Plus picks up

Directa Plus PLC (AIM:DCTA, OTC:DTPKF) pushed 7.2% higher to 104p after ot reported a pick-up in trading over the last two months.

The graphene specialist said it expected an acceleration in trading when it released its full-year results in May and confirmed sales since the start of 2022 were €4.60mln, approximately 44% ahead of the same period last year.

In an AGM statement, Directa Plus added it remains optimistic subsidiary Setcar will be awarded a contract in Romania for environmental remediation services. A decision on the tender is now expected early in the second half of 2022.

10.20am: ValiRx slides as potential licensee struggles to gain finance

ValiRx PLC (AIM:VAL) shares have dropped 8% to 20p after it said TheoremRx Inc, which has agreed to sub-license its VAL201 drug, was struggling to gain access to finance as quickly as hoped.

The London-listed company granted an exclusivity period to TheoremRx to the end of June to enable the US company to progress their financing round, on which the signature of the sub-license of VAL201 depends. 

ValiRx said it has heard there has been "positive" progress but it anticipates that an extension to the exclusivity period will be requested, which it said it will agree too if formally requested.

"It is important to us at ValiRx to ensure that TheoremRx have sufficient funds to fully progress VAL201 prior to completing the sub-license and committing the project to their care," said chief executive Dr Suzy Dilly. "As such, we have been taking great interest in their progress towards financing."

9.16am: Back to growth for Future

It must be time for another mahoosive bonus for chief executive Zillah Byng-Thorne, the chief executive officer of Future PLC (LSE:FUTR), after this morning’s well-received trading update.

The publishing group’s shares advanced 5.0% to 1,628p as the company said the encouraging start to the second half of its financial year has continued.

The company said it continues to benefit from the effect of its diversified audiences and revenue streams, its operating leverage, excellent cash conversion and strong balance sheet. As a result, Future reconfirmed it is on track to achieve full-year 2022 guidance.

Fire Angel Safety Technology Group PLC (AIM:FA.) climbed 5.2% to 11.15p after it announced a second development milestone relating to its agreement with Techem Energy Services.

I think this means it has developed a new type of smoke alarm.

FireAngel said the second contractual new generation smoke alarm (NGSA) development milestone, which was delivered ahead of schedule and within budget, sees the delivery of a development board (known as an Analogue Front End Board) specifically related to the control of the analogue sensing circuits, such as smoke sensing.

So now you know.


 


 

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