Stock Market Watch: WSBN, EEE, EQT, BZT, LOGP, BIDS, GILD & PPIX

Shares of Wishbone Gold (WSBN) continued their recent rehabilitation with a 47% share price rise to start the week.

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Already back in favour on the new strategy to focus on its Wishbone II and White Mountains assets in Queensland, Australia, the news that it had bought an option on a significant Havieron / Telfer region tenement package was cat nip to investors. This is because it will mean that among other things, one of the licenses is only 25km away from the new Havieron gold asset operated by stock market darling Greatland Gold (GGP).

Sticking with Australia and with resources, it was the turn of Empire Metals (EEE) to update the market on the latest developments at the Eclipse Gold Project, and the results of the geochemistry programme. The outcome was that two new centres of gold in soil anomalies have been found in the project area. Nevertheless, the shares were off 0.3p to 2.95p, having risen for most of last week.

After bouncing back in the wake of its interim results the previous week, it was the turn of Eqtec (EQT) to deliver further share price boosting news. The stock was up 0.035p to 0.58p, as the gasification technology solutions company said it had awarded an independent and market review to Wood Group. The result of this is that with Wood’s waste to energy capability it will be able to help further develop further applications of Eqtec’s technology.

Copper – gold explorer Bezant (BZT) saw its shares rise by nearly a third, as it updated the market on its transaction with Mining and Minerals Industries. This referred to the disposal of 80% of the company’s interest in the Mankayan copper-gold project in the Philippines. The key plus points here were an extension to the exploration period and a proposed listing of a new Asian asset.

Shares in Lansdowne Oil (LOGP) rose 17% and achieved their best daily close for a year, with the clock ticking regarding a key event for the company. This was achieved in the aftermath of the previous week’s interim results, and ongoing market speculation regarding the fate of the Barryroe Oil license. What was of note at the time was the way that a term sheet had been signed with SpotOn Energy, granting it exclusivity until the end of this month with regard to concluding a binding farm out by October 31.

Bidstack (BIDS) was on the move, up nearly 13%, as the in-game advertiser was seen as being a beneficiary of the e-sports and online gaming boom of the moment. This was particularly the focus given the latest Gild Esports (GILD) listing on the London Stock Exchange valuing the company in which former footballer David Beckham is a co-owner, at over £40m.

Prophotonix (PPIX) accelerated its recent rally to get to the top of the stock market leaderboard, with a 77% rise. The laser light maker last officially updated the market on September 10, with gross profit up by a fifth. Given that it is listed on the AIM market, the lack of a “speeding ticket” RNS to date may perhaps be telling.

ZAK MIR 300x200 - Stock Market Watch: WSBN, EEE, EQT, BZT, LOGP, BIDS, GILD & PPIX

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

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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