Stock Market Watch: ORPH, CGNR, AMGO, THR, N4P & ALBA

Shares of fast growing pharma services group Open Orphan (ORPH) soared 27%,  following not only the announcement of a new contract win for its Venn Life Sciences subsidiary with a major European pharma company, but also in sympathy with a story in the Financial Times and other media sources regarding human challenge trials.

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Given Open Orphan’s specialist 24 bed quarantine unit in London centring on this type of vaccine development programme, and the prospect of such trials starting in January being announced as soon as next week, it was not surprising that the shares attracted bullish interest.

Shares of Conroy Gold & Natural Resources (CGNR) rocketed 30% after fellow miner Anglo Asian Mining (AAZ) announced a heads of terms for a joint venture where the companies agreed to further develop the Clontibret license area and other gold properties in Ireland. It was somewhat strange that the Anglo Asian Mining RNS was not matched by one by Conroy Gold itself, but did not stop buyers seeking out the stock.

Amigo (AMGO) was back on the front foot in terms of its stock price as some order seemed to be restored after the recent spat in terms of the direction of the company. The lender announced that it would be Gary Jennison stepping up to the plate as the new CEO, rather than Glen Crawford. This was said to be on the basis of a “divergence of views” – the equivalent of musical differences in boardroom speak.

Thor Mining (THR) continued its recent run of form with a 23% rise to 1.19p following a well received interview on Paydirt TV by Executive Chairman Mick Billing, and the receipt of a A$173,000 research and development receipt earlier this week. The company said it was entering a period of very active work at its Ragged Ridge gold project and with scheduled gold drilling at the Kapunda copper project having recently raised £1m to be used on its various projects.

Shares of N4 Pharma (N4P) were back in recovery mode, with a 23% rise to leave them at 6.3%. This caused the stock to make up for some of the lost ground since the peak least month at 16p. The rise was also not accompanied by any news from the company, although as in the case of many COVID-19 related plays, the waiting game is being played regard N4’s potential therapy, Nuvec.

Alba Mineral Resources (ALBA) was also back on the leaderboard, resuming what has been a very strong bull run. This was only temporarily disrupted earlier this week with a £1.3m placing. Currently the company is particularly in focus regarding its Clogau project, where it intends to start a surface drilling programme for up to 5,000m, to start as soon as next month.

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

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