Stocks that may or may not make the grade in the papers
Another trading day, and another speeding ticket RNS for a mining stock which fails to halt its share price rise. In this case it was Bezant Resources (BZT), where the stock closed up 89% to 0.465p, versus around up 60% at the time of the cooling announcement courtesy of AIM regulation. The copper-gold exploration and development company said it had noted the movement in the share price, and confirmed that it has announced all material events as required under the AIM Rules.
There was a different kind of mining stock rise at precious metals trading and exploration company, Wishbone Gold (WSBN) as Afzal Valli took a 3% stake. The investor, who is well known to traders on Twitter, made his announcement in the wake of Wishbone’s interim results on Friday. In this it said that the net effect of this summer’s restructuring and funding has been to leave the Company in a strong position to complete its exploration programs in Australia, and with cash to pursue additional expansion – as the option on Havieron / Telfer underlined. Shares in Wishbone Gold were up 32% to 6.5p.
October to date has certainly been the month of the mining minnows, and this point was underlined with a 65% rise to 10.75p for Panthera Resources (PAT). This came the week after the diversified gold exploration and development company with assets in West Africa and India announced its plans to recommence fieldwork at its Bassala Project located in southwestern Mali. Hopes were also rising that there could be news regarding the Bhukia gold prospect as soon as next month.
One had to go a long way down the stock market leaderboard to start the week in order to find a non mining rising of significance. Arguably, Midatech Pharma (MTPH) was one of the standouts in the wake of its phase I study results regarding patients with DIPG. The bio-delivery group hailed encouraging data from the trial with brain cancer patients where the outcomes in paediatric situations tends to be poor. The shares of Midatech jumped 10% to 36.5p.
Ironveld (IRON) celebrated a return to recent stock market form, with a 30% share price rise to 1.27p. Interestingly enough, the stock was closing in on the best levels seen early last month in the wake of an update on financing and the further extension of the IIG option agreement. This was to be from the end of September up to the end of November.
There was a feeling of it being better to travel than arrive as far as medical diagnostics group Omega Diagnostics (ODX), with its shares down 4%. This was despite the announcement of a contract signed with Abingdon Health, the lead of the UK Rapid Test Consortium – a concept which over recent months has veered towards being an oxymoron. Nevertheless, this comes in the wake of the UK Government’s initial order of one million rapid antibody COVID-19 tests, perhaps part of the fuel for the second wave of pandemic cases this autumn.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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