Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
A highlight to end a turbulent week in the wake of the Pfizer announcement on Monday, was the rise and rise of Remote Monitored Systems (RMS).
The anti-viral face mask play saw its shares rise another 66% to close at 5p, versus the floor of the week at 0.9p. Mentions in the mainstream media for RMS’s subsidiary mask maker Pharm2Farm and the prospect of further interviews were the latest driver for the shares. RMS investor Braveheart (BRH) played catch up with a 35% share price rise.
There was a solid gain of 46% for Bezant Resources (BZT), as the copper-gold exploration and development company updated its announcements on the proposed acquisition by AsiaPhos of MMJV – a 100% subsidiary of MMIH, in a reverse takeover. Bezant said if the proposed AsiaPhos acquisition is completed then Bezant is due to be issued £5.6m of shares in the listed entity holding MMJV. The market cap of Bezant is currently £12.6m.
Sticking with the mining space, and Galileo Resources (GLR) managed a 13% rise. This came in the wake of the completion of the acquisition of 100% of Africibum and its interests in the North East Kalahari Copper Belt project in Botswana last month. The company said at the time that with drill holes assaying >1% Cu the project has already advanced beyond the conceptual stage. It added that it is the intention to test for an extension of the open strike on one licence and update the geophysics on another licence.
It is rare that shares in a company rise after the announcement of a placing. But resources investor Gunsynd (GUN) was up 9%, after the revelation of a £1.13m placing and conditional placing. Proceeds of the placing are to provide additional funding to progress its activities and make investments in line with its stated investing policy, with most investors looking at the run up to the IPO of Gunsynd’s Rincon Resources investment in Paterson Province, Western Australia.
There was a good recovery after the previous day’s interim results at energy services, equipment and technology group Enteq Upstream (NTQ), with the stock rebounding 26%. This was partly in sympathy with the overall oil & gas sector recovery this week, but also off the back of its growth of international revenue share rising 74% and a cash balance of $8.8m despite challenging conditions in certain markets.
After the shares were slammed earlier in the week, perhaps the most welcome recovery for retail traders was in Synairgen (SNG), the respiratory drug discovery and development company. It announced the publication of data from the Company’s SG016 trial in The Lancet Respiratory Medicine journal in which an inhaled formulation of interferon beta-1a produced positive topline results. The stock closed up 18% at 120p, although it had peaked as high as 144p.
Shares of pharma services group Open Orphan (ORPH) rose 7% in the wake of a Total Market Solutions interview with Executive Chairman Cathal Friel in which he said, “We have a hugely diversified Business model. We are making money, we are profitable, we are growing and we can not say that about some of our friends…”, referring to the company not just being a COVID-19 play.
Omega Diagnostics (ODX) rebounded 16% after the previous day’s defiant response to media speculation on the AbC-19 Rapid Test and rejected the conclusions drawn on the performance of the test. The company said it welcomed the positive news on the progress of a viable vaccine and believes the need for COVID-19 antibody testing generally has not gone away and will continue for some considerable time.
It was the turn of solar panel group Verditek (VDTK) to have its day in the sun, with a 10% gain for the share price. Investors pointed to the company having raised enough cash for expansion, has paid off debts, and were looking to a potential large order by the end of the year. The arrival of President Elect Biden is also seen as being a plus for renewables, something which should attract more institutional investors.
There was good news for shareholders of Mosman Oil & Gas (MSMN) where active investor Afzal Valli increased his stake from 5% to 8%. The attractions of the 53 TCF Amadeus basin resource, and the likelihood of Falcon 1 well testing next week were said to the current drivers for the stock, which rose just under 5%.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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