Share Talk Weekly Small Cap Movers & Shakers – 10th October 2021

A busy week for the small caps this week with Empyrean Energy PLC (AIM:EME ) saw its stock surge this week, after it hired China Oilfield Services Limited to conduct a survey of the Jade prospect offshore China.

COSL has approved the company’s comprehensive survey, which will allow for sufficient data to assess the potential hazards of top-hole drilling at the proposed location. This will also help to ensure that the rig can safely be secured on-site. The shares rose 32%.

From the Jade prospect to diamonds, and Karelian Diamond Resources PLC ( AIM:KDR), announced the results of analysis by the Geological Survey of Finland of thin segments from a kimberlite rock recovered from the company’s Lahtojoki south exploration area.

The market was delighted to hear that there is potential for diamonds from the Kimberlite source. This news came as Karelian shares were 22% higher.

Caracal Gold plc (GCAT:LSE) welcomed an update on its ongoing exploration activities at its producing Kilimapesa Gold Mining and Processing Operations in Kenya, where it is advancing an initial shallow trenching programme on high priority targets on the newly targeted Southern Mineralized Zone ahead of the commencement of its planned RC and diamond drilling programmes later in the year. Highlight of the announcement include peak trench sample result of 40m at 4.85g/t gold including 7m at 7.6g/t from trench CART 0003 and individual samples of 1m at 15.08g/t; 1m at 14.09g/t and 1m at 12.89g/t in trench CART 0003.

Since the IPO in late August 2021, shares have risen 70% and with the constant news flow, look to have a bright future in the near term.

It’s been a busy week at Falanx Grup Ltd ( LS:FLX), an AIM-listed cybersecurity company.

It agreed to sell Assynt Strategic Intelligence Division in exchange for approximately PS4.6mln. This will leave it as a pure-play cybersecurity firm. Cross Atlantic Solutions paid a gross consideration of approximately 0.87p per Falanx shares.

The company’s mass-market security assessment tool was launched Monday. This gave the shares a boost.

This tool scans for network vulnerabilities and provides a score called a “Falanx Cyber Exposure Level Score” to the customer.

Falanx shares rose 29% to 1.35p

Cora Gold Limited (AIM:CORA) announce the twelfth set of drill results from its largest-ever +40,000m drill campaign at its Sanankoro Gold Project.  The Company focussed the drill campaign on both resource growth as well as infill drilling to convert existing Inferred resources to Indicated.  The drill results have continued to be extremely encouraging throughout the campaign with high-grade results in generally shallow oxide ore.

In the past six months, the share price is over 80% and with the company drilling its largest-ever drill campaign, we should see a continued news flow to the markets.

The Brighton Pier Group PLC (AIM.PEIR) The company’s third quarter trading update saw it rise 11%.

The leisure business’s first 13 weeks have been strong. The group’s third quarter is an important trading period. It was pleased to report that trading has been boosted due to pent-up demand as well as the unwillingness of many Britons to travel overseas for their summer holidays. The total net sales for 2019 were 30% higher than the pre-Covid period.

Hotel Chocolat Group has a market capitalisation in excess of PS630mln. However, shareholders will not mind it being included as a result of a 15% increase due to strong interims.

Polarean Image PLC (AIM:POLX ) was the biggest loser of the week, with its value roughly halving after receiving a knockback from the US Food and Drug Administration.

According to the FDA, Polarean’s new drug application (NDA), was not approved. AIM-listed medical imaging technology had submitted an NDA for a drug and device combination product that used hyper-polarized xenon129 gas to enhance magnetic resonance imaging in pulmonary medicine. FDA stated that it could not give approval for the drug as it stands and provided a list to address the issues.

SIMEC Atlantis Energy Ltd also fell fast (AIM:SAE), after what appears to be an unavoidable and further delay to the company’s Uskmouth power plant conversion project.

The Welsh Government will now decide on the permit modification application for the conversion. This has prevented Natural Resources Wales (AIM:NRW), an independent body, from making a decision. SIMEC Atlantis claims that NRW was “minded” to grant the modification to the existing permit after a second round of consultations, originally scheduled for September. This decision was reflected in the nearly halving of shares.

“This delay is a blow for South Wales and this vital energy project at an time when the country faces an energy crisis with intermittent renewables, a dependence on imported gas, and unsustainable price increases for households and businesses across the UK. “The Welsh Government is putting at stake a project that will create negative emissions, hundreds of jobs in Newport, deliver hundreds million of pounds of investment, and deliver the critical decarbonisation required by the region’s steel and data centers to make them sustainable,” SIMEC Atlantis stated.


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