Here’s a look at the big movers and losers from the small-cap world last week in London.
After sharing the results from the production log test at Amungee NW-1H, in the Beetaloo Sub-basin of Northern Territory, Australia, Falcon Oil & Gas Ltd (FOG.L) soared 85% to 9.35p.
These results indicate that a normalised gas flow rate of between 5.2 and 5.8mln standard cubic yards per day for 1,000 metres of horizontal section is possible.
Chief executive Philip O’Quigley stated that a recent industry analyst report suggests that the Beetaloo can produce gas flows exceeding 3mln standard cubic meters per day from a horizontal well of 1,000 metres. This is necessary to prove the Beetaloo’s commercial viability.
Reabold Resources (RBD.L) was the opposite. It plunged 24% to 0.28p following a report on West Newton activities by Rathlin Energy Limited.
Shareholders were shaken by reports of “clear signs” of reservoir damage in Kirkham Abbey’s reservoir. This is “probably preventing greater flow at this point”.
Reabold has a roughly 56% economic interest in West Newton.
Eurasia Mining PLC (EUA.L), managed to push its share price up 83% to 28.75p following a progress update.
It stated that significant improvements have been made to its West Kytlim mine and its joint venture partner Rosgeo confirmed that the process for Nyud/Moroshkovoe open-pit deposits is in an advanced stage. The final feasibility study for Monchetundra is currently in its final stages.
@eurasiamining (#EUA.L) Monchetundra DFS progress closer to defining the mineral content ⚒️ geochem successfully completed + drill cores audited (RNS 1/09/21). @ACFER01 are looking at the case for upwards revaluation.
Full Research Notes Link https://t.co/GuHzqVDZuf https://t.co/v9NgX56hwe pic.twitter.com/cHNY4PoBwu— Share_Talk ™ (@Share_Talk) September 4, 2021
ECR Minerals PLC (ECR.L) announced that it had purchased a property located at 35 Brewing Lane in Springmount, Australia. It may sound like the company is suddenly expanding into real estate, but the property actually spans 16 acres in the Creswick area of Victoria, Australia. As the comapny develops its drilling programs, the property will be used as a base.
ECR shares rose 28% this week
Immedia Group PLC’s (IME.L) half-year results cheered the market despite its board and management team admitting that they were not satisfied with the performance.
After the supplier of multimedia content showed “a substantial improvement in trading EBITDA [underlying earnings]” compared to the previous period, the shares surged 32% and reached 17.875p.
Mobile Streams PLC, (MOS.L) PLC Sector Peer, also enjoyed a positive week with an 18% increase to 0.265p
AIM-quoted mobile content company and data intelligence firm LiveScore in Mexico has reported that it has exceeded its August subscriber goal by 250%. More than 3,500 subscribers have signed up for the service.
Mobile Streams projects that the service in Mexico will generate an additional US$1.5 million in revenue over three years based on the number of subscribers.
@PowerHouseEG will be in focus this week after it emerged that its business partner, Hydrogen Utopia International (HUI), is close to signing a deal with German engineering giant Linde to roll out energy plants across Europe #PHEhttps://t.co/HIw32QA2IF via @thisismoney pic.twitter.com/dCYff47Xo1
— ShareTalkNews™ (@ShareTalkNews) September 5, 2021
Powerhouse Energy Group PLC, (PHE.L), has signed an agreement to exclusively use its waste-to-energy DMG technology in Poland and Greece with Hydrogen Utopia International PLC, (HUI).
HUI hopes to create power projects in these countries using Powerhouse’s technology through partnerships with states, regional authorities, and the private sector.
This week, Powerhouse Energy shares rose 28%
The chairman of Arcontech Group PLC, a provider of products and services to real-time financial markets data processing, Geoff Wicks gave a negative assessment in the Arcontech Group PLC’s full-year results (ARC.L). He stated that “the future for our market remains uncertain” and that it could take some time before it returns back to its previous levels of activity.
After the company stated that COVID-19 had a negative impact on net sales in 2020/21, the company’s profit for this year is expected to be flat to lower. Any revenue growth will not fully reflect in results until 2022/23.
