Stock Market Watch: ZOE, TGR, ORCP, ARB, PIRI, RGO, DEV, RDGC, I3E & COPL

Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.

By @ZaksTradersCafe

Given that even these days $1.9 trillion is a reasonable chunk of change, stock markets around the world received a much needed boost, especially as siren voices continue to grumble regarding rising bond yields. At the very least, the news from the US on the latest stimulus package looks to have drawn a line on recent soft price action in some sections of the UK stock market.

A recent feature of the small cap space has been the way that TR1 announcements with relation to disclosable share holdings have backed the idea of “following the money”, very often ahead of share price rises. The dish of the day to start the week came at vertically integrated CBD group Zoetic International (ZOE). Here the shares rose another 4% to 102.5p to give the company a market cap of £200m. This is approximately £200m higher than the alleged bear trap on the company, delivered last month, since when the stock has bounced nearly 40%. The catalyst for the latest gain was news that UHNW investor John Story is up to 9.46% on the share register, versus 7.59% previously.

The quality and frequency of the newsflow since its IPO in December has been noticeable at Tirupati Graphite (TGR), and may explain why the shares have doubled in the interim. The latest driver for the fundamentals has been the announcement regarding the redevelopment of hydropower facilities at Sahamamy and initiation of further studies for hydropower across both projects as part of its sustainable mining strategy targeting low emissions and waste generation. The company said that its hydropower renewable energy initiatives are part of a strategy which will reduce its carbon footprint by almost 50% and also result in cost savings. In addition, Tirupati said that it has accelerated the development of its primary flake graphite operations in Madagascar to an initial 12,000 tpa in Q2 2021 and is on track to commission the 9,000 tpa plant in Vatomina to fast-track the development of markets for its three business units. Shares of Tirupati were up 2.75p to 93.5p.

Sticking with the natural resources space and Oracle Power (ORCP), the AIM listed natural resources and power project developer, said that the recent gravity survey conducted across the Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia has confirmed the presence of a newly identified substantial greenstone belt located directly adjacent and east of the Jundee Gold Mine. In addition, a high priority felsic intrusive related target has also been identified. CEO Naheed Memon said that follow up activities are now being planned, with a programme including the planning and permitting of aircore drilling across the primary target areas. The aircore drilling programme aims to directly target mineralisation.

There were thrills without the spills, so far at crypto miner Argo Blockchain (ARB) as it announced a flash fundraise of £26.8m, with good news for those who have recently participated in the Pluto Digital Assets fundraise. Argo has agreed to invest a further £7.3m in Pluto, a company which has Pires (PIRI) and Riverfort Global Opportunities (RGO) as shareholders as well. CEO Peter Wall underlined that the investment in Pluto is a diversification away from its core Bitcoin mining and investment, given its exposure to the DeFi / Web 3.0. The discounted Argo placing was 20% below the closing 250p price on March 8.

Edtech play Dev Clever (DEV), a leading developer of online and immersive career guidance and development platforms and consumer engagement experiences saw its shares bounce back 10%. Last week it said it intends to announce its final results for the year ended 31 October 2020 on Monday, 29 March 2021. Traders were also looking forward to a virtual capital markets event hosted by CEO Chris Jeffries on 06 April 2021 to discuss the Company’s growth strategy and future prospects.

Shell situation Ridgecrest (RDGC) added another 13%, as traders were licking their lips not only at the prospect of further TR1 revelations from the current dynamic duo of UK tech stock investing, John Mahatani and Ashok Patel, as well of course as what holders of the stock anticipate to be a decent RTO result down the line.

An initial surge in Crude Oil prices was backing the share price of i3 Energy (I3E) as well as Canadian Overseas Petroleum (COPL) with both stocks stretching towards 10% gains during the session. With i3 Energy investors are looking forward to an imminent maiden dividend update. With COPL, there was the revelation that the company which is in the run up to a giant killing deal with reference to its

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

Source 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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