Stock Market Watch: AMC, SAR, SNG, FCCN, ESL, PRE, JLP & SYME

Shares of mining project developer Amur Minerals (AMC) finally responded to the merits of the company’s invest to develop strategy, with a 40% rise to start the week.

This came after a recent ShareTalk interview by Adam Habib, President and advisor to the board of the company, and news last week of the receipt of the first interest payment from Nathan River Resources, the owner of the Roper Bar Iron Ore Project in Northern Australia.

Shares of specialist drug developer Sareum (SAR) continued their recent run of form in the wake of last week’s announcement that the United States Patent and Trademark Office had issued a Notice of Allowance for a patent for Sareum’s proprietary SDC-1802 TYK2/JAK1 Kinase Inhibitor Programme which targets cancer and cancer immunotherapy. The stock was up 59%, helped along by the forthcoming final results due out today, and as some investors gushed regarding the way that with Lupus allegedly having a similar mechanism to COVID-19, and Sareum possessing research data regarding Lupus, it could be the next big pandemic biotech to back.

Drug discovery and development company Synairgen (SNG) which focuses on the respiratory area was given a boost by the new wave of shambolic UK Government response to the pandemic to start the week. The shares rose 32%, as the managed access program agreement regarding its SNG001 COVID-19 treatment signed with Clinigen for hospitalised COVID-19 patients was still fresh in traders’ minds.

One of the more unlikely stock market winners of late – at least in terms of the recent recovery, remained French Connection (FCCN), with the formerly trendy fashion outlet saw its share price rise 19%. While this was likely to be a short squeeze ahead of imminent results today, peak to trough the shares have managed to double from the end of last month.

Fans of trucking were given a boost by the latest news from haulier Eddie Stobart (ESL) in the wake of the group announcing a return to profitability, given the boom in delivery via warehouses. With first half profits exceeding £16m and deals in the bag with the likes of Morrisons and Amazon, the recent recovery in the stock was added to by another 36%.

Shares of recent IPO Pensana Metals (PRE) continued their recent sharp run of form, as the company announced it had asked Wood Group to undertake a study into the possibility of establishing a UK rare earth processing facility. The idea behind this would be to create the world’s first sustainable magnet metal supply chain. The stock rose 16% to 93p.

Sticking with the metals processing theme, and Jubilee Metals (JLP) and the company said that it had produced its highest quarterly PGM output ever. Q3 sales were up to £23.1m, while operational earnings rose to over £15m. In addition, Jubilee was appointed as an operator of a mine chrome plant at Inyoni in South Africa from August. In Zambia the group continued to report progress with its Sable refinery nearing completion.

Inventory monetisation specialist Supply@Me Capital (SYME) saw its shares rise moderately off the back of news that it had appointed a new auditor. Crowe, which had won a tender process is set to re-appointed at the forthcoming AGM.

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

Source https://zakmir.com/stock-market-watch-amc-esl-fccn-jlp-pre-sng-syme/

Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

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