Stock Market Watch: ADV, BMV, TIR, ORPH, GWMO & ECO

Advance Energy (ADV) looks to have finally shaken off the ghosts of its previous manifestation, Andalas.

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The plus points now appear to be the quality of the management, and the way that the oil & gas investment company is looking to build up its portfolio in the most prudent fashion. In particular, taking non-operated interests, and looking to unlock value. However, the latest 24% share price rise has come in the wake of recent director share buying, as well as an operations update on September 14th.

There was an extra slug of good news from Bluebird Merchant Ventures (BMV), as the South Korea focused gold miner, with the company saying that funding to re-start legacy mines in the country was coming in ahead of schedule, allowing it to commence construction. The shares rose 14% as traders enjoyed the revelation of a non-dilutive and non interest bearing facility of up to $20m.

Thinly traded Tiger Royalties (TIR) attempted a share price breakout through 0.35p, as some investors looked to the mining sector investment company to start building a portfolio of investments, in what has become a booming sector. They also pointed to the way that the shares are tightly held and therefore in the wake of this month’s £500,000, even a modest investment in a successful play could deliver some decent movement to the upside. So far to start the week, the stock is up 15% to 0.37p, albeit on a very widespread.

Open Orphan (ORPH) managed to continue its recent run of form, and share price breakout through a troublesome mid-teen zone, to close up 9% at 18.6p. The fundamental trigger for the rally was pharma services group signing a £4.3m COVID-19 study contract, which the company said has already started. CEO Cathal Friel stated that it was his intention for Open Orphan, via its hVivo subsidiary to be a world leader in the testing of vaccines and anti-virals via human challenge studies.

Great Western Mining (GWMO) made a return to the top of the stock market leaderboard, with a 54% rise to close at 0.325p. Although a break of 0.2p zone resistance a couple of weeks back suggested a move to 0.3p might be on its way, the market was impressed by large-volume buys in the market, amounting to nearly 10% of the share register. This was not necessarily surprising as the stock has been on the front foot since the company update earlier this month which revealed a fully funded 2020 programme, first gold from the Mineral Jackpot processing operation this year, and a target of up to 1.5m ounces from Mineral County, Nevada.

There was a second wind to the tentative recovery for shares of Eco Atlantic (ECO), after the shares were backed by a key FinTwit investor, as well as Peel Hunt who recently slapped a 100p target on the stock. Indeed, the broker regarded Eco’s 2021 campaign exploration campaign as one of the more exciting around. This left the stock up 17%, at 23.75p in terms of the latest rally, clearly with some work to do in order to achieve the Peel Hunt price target.

(The opinions expressed here are those of the author, a columnist for Share Talk.)

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