Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
International resources and power group Oracle Power (ORCP) saw its shares in focus as it updated on the Thar Block IV Project. Here the news was driven by Pakistan PM Imran Khan at a climate conference over the weekend. He stated the country’s ambition to develop its coal to liquids and coal to gas projects, clearly bringing Oracle’s vast coal asset into focus in the south of Pakistan.
There was an interesting participation between two private investor favourite companies with regard to a £1.5m funding round for Low6, a mobile sports betting platform. Low6 operates a B2B business model in which it enters into a partnership with a sports team or franchise, gaining access to its fan base, with the partner sharing the revenue. Both Gunsynd (GUN) and Pires (PIRI) took part in the funding round at £200,000 each.
There was a handy 10% rise for shares of south east Asia focused energy group Coro Energy (CORO). Here the company noted a press release issued by its 20% investee company ion Ventures, an energy storage infrastructure developer. There was confirmation that ion has entered into a non-binding MOU with PT Inovasi, which has a portfolio of rural and off-grid energy assets.
There was finally a decent spike in shares of Premier African Minerals (PREM) of 18%, albeit of course from a very low base. Here it would appear that there was a delayed reaction to the November 30 update from the company in which it highlighted positive gold assay results from the Ligonha Gold Project. Given that this was a very early stage exploration and that it came ahead of the company expanding its footprint in the area, it could fairly be assumed that investors are looking for further positive updates in both respects, hence the squeeze higher in the stock.
Supply@Me Capital (SYME) saw its shares defy the mud slingers once again, having nearly doubled from the end of last month. The stock was up another 3% as traders of the inventory monetisation play started see things coming together in a fundamental sense for the fintech platform. It has perhaps helped that CEO Alessandro Zamboni has been quoted as recently saying that “Since no other companies do what we do, the global untapped potential for asset monetisation providers is vast – to the tune of $3.75 trillion.” So apparently, quite a large number to play with.
Speaking of mudslinging, the intrigue on Fintwit regarding punters’ favourite, and apparently most market commentators bete noire, Remote Monitored Systems (RMS) continued.
This came in the wake of the RNS from its subsidiary Pharm2Farm on Friday, with the shares rising as much as 10% during the following session. Shorters were pointing to the potential need for fundraising at the anti-viral ahead of a production ramp early in the New Year, whereas supporters of the company suggested further shareholder dilution was either not necessary or could be avoided.
There was a happy story in terms of the successful IPO of Tirupati Graphite (TGR) as the shares hit the London Stock Exchange with a 50p plus trading level on the first day of dealings versus the 45p float price. It would appear that the company is set to follow recent debutantes Kistos (KIST) and Pensana (PRE) in being a well-received new listing. In this case, the driver with investors has been the green revolution and graphite/graphene producer Tirupati’s place in this new gold rush.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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