Alba Mineral Resources (ALBA) finished the week on a high note, with a 35% rise to close at 0.19p, with some traders anticipating that the company was due to receive planning consent for its Clogau Welsh gold exploration asset.
They also pointed to the value of Alba’s stake in Horse Hill, as well as projects in ilmenite and graphite.
Shares of Bezant Resources (BZT) started to bounce back after the announcement last week of a £625,000 placing. The result was a 15% win for the bulls as bet on the mining minnow following in the footsteps of many of its contemporaries in rallying, such as Alien Metals (UFO) and Kodal Minerals (KOD), amidst the current boom in the sector. Last month Bezant announced the completion of its acquisition of Virgo Resources.
There was a second wind to the recent rally at Kodal Minerals (KOD), with the shares jumping another 28%. The original impetus for the spike was news of a MOU with Sinohydro in Mali regarding the development of a lithium project. The Bougouni asset is to be co-developed by both companies, but with Sinohydro bankrolling the feasibility phase.
Empire Metals (EEE) shares were 5% higher as the exploration and development company announced that it was commencing field work at its Eclipse Gold project. The results of its exploration are due to be delivered by the end of September.
Gunsynd (GUN) added 6%, as investors pointed to the recent sharp gains in its Eagle Mountain investment, where the shares have approached 30 cents in Australia versus the company’s 13 cents original purchase. Gunsynd is also a holder of Rincon Resources, Rogue Baron, and Bunker Hill in its burgeoning portfolio.
The award for the most obscure rising stock of the moment had to go to Nakama Group (NAK), as the recruitment group saw its shares rise 35%. These gains come after the company was pummelled due to its exposure in the Far East, in the immediate aftermath of the Covid-19 pandemic earlier this year. Some in the market were betting on a financial rejig for the group, which includes some high profile holders on its share register.
Petra Diamonds (PDL) became another bombed out situation in revival, as some in the market commented that it was already priced to go bust. However, the feeling was that the bearishness due to the impact of Covid-19 had been overdone, and that there is the prospect of a financial overhaul at the company, something which could then act rendering the stock a recovery situation.
Shares of inventory monetisation group Supply@Me Capital (SYME) were up 3% as the company announced it had signed a deal with Italian fintech platform Epic, who offer working capital solutions. The alliance between the two firms will enable companies in the tech space to showcase their services, as well as monetise their inventories. There was also interest in the stock ahead of an imminent ShareTalk interview with Supply@Me’s CEO Alessandro Zamboni.
Vela Tech (VELA) bounced back sharply, up 40%, to 0.07p, as the market once again witnessed the revival of a perennial underperformer. In this case, it was noted by some that the stock could be the next Supply@Me, at least in terms of a potential rise for the share price. Given that we have been in the Year of the Shell, speculation surrounded imminent deal making around the company and / or an investment update. Last month company delivered news regarding WeShop Limited.
Valirx (VAL) shares seemed determined to clinch near term technical share price predictions of 30p, in the wake of the latest 2% gain to leave the biotech group’s shares at 25p, after peaking near 27p. Recent bullishness in the stock has centred around the timeline regarding its drugs pipeline including Val 201 treatment for prostate cancer. It is normally the rule that the swifter the share price rise, the more imminent the news.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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