Rockfire Resources PLC Soars After Copperhead Porphyry Project Update
Rockfire Resources PLC (LSE: ROCK) rose 9% to 0.86p after briefing investors on the ongoing diamond drilling program on the Copperhead porphyry project in north Queensland, Australia.
More than 1200 veins containing chalcopyrite (copper) have been recorded in the core of the first three holes and veins containing copper and molybdenum sulphides have been found in the four holes completed to date.
The fifth core drill hole, which is currently underway, will be the deepest hole drilled in the system to date. Drilling underway is targeting the discovery of the main source of porphyry as the Company is drilling deeper into the mountain.
1:15 p.m .: TP Group tumbles as the general manager leaves the ship
() dropped by a tenth to 4.55p after chief executive David Lindsay said he wanted to leave the company in October 2022.
Martyn Ratcliffe has been appointed executive chairman with immediate effect, although his duties will be reduced once a new chief executive is appointed.
The consulting and engineering service provider said the exchanges are going well and in the future it will focus on UK-based defense and aerospace operations, including TPG Maritime, UK Consultancy and Osprey.
12:10 p.m .: LoopUp in demand after the Cloud Telephony strategic alliance
() increased 8% to 24.5p after unveiling a major strategic sales and distribution alliance for its cloud telephony solution with an international telecommunications provider.
The service allows customers to make phone calls to external phone numbers and receive phone calls to their own work phone numbers, all directly from their Microsoft Teams user interfaces.
In July, the AIM-listed company said it had since gained 15 direct cloud telephony customers, built a pipeline of direct sales opportunities worth £ 58million annually and developed a strong pipeline of negotiations with potential strategic alliance partners for indirect sales and distribution. This agreement announcement marks the execution of the first of these major alliances, he noted.
11:15 am: Shoe Zone rising after earnings forecast upgrade
() jumped 11% to 100.5p after improving guidance for its annual pre-tax profit, which is now expected to hit £ 9-10million.
The retailer said underlying trading has been better than expected, while a review concluded the income statement will not recognize £ 1.5million in one-time pension contributions.
It also benefited from favorable exchange rates which pushed up estimates by £ 400,000.
10am: Alba Mineral Resources dives after rejection of environmental permit
() plunged 27% to 0.14p by mid-morning after Natural Resources Wales rejected the miner’s environmental permit application.
The AIM-listed group wanted treated mine water from the Llechfraith shaft at the Clogau-St David’s gold mine (NYSE: GLD) to be discharged into the Afon Cwm-llechen (Cwm-Llechen River ).
The government agency said it had not been shown that the proposed release would not impact protected local wildlife, such as Lesser Horseshoes and Otters.
“The company and its environmental and ecological consultants will further examine the reasons given by NRW in the coming days and examine the grounds for appealing the decision,” Alba said.
In the FTSE 100, Barclays plc lost 1.5% to 199.18p after chief executive Jes Staley announced his departure following an investigation into his dealings with US financier Jeffrey Epstein by UK regulators.
Epstein was arrested in July 2019 for child sex trafficking and committed suicide while awaiting trial.
The Financial Conduct Authority and the Prudential Regulation Authority have investigated Staley’s characterization of his relationship with Epstein at Barclays.
8:50 am: U and I take off on the proposed acquisition of Land Securities
() was the biggest gain on Monday morning, climbing 73% to 148.5p following a proposed acquisition of ().
The owner of the FTSE 100 has offered £ 190million or 149p per share, which is a 73% premium over Friday’s closing price.
The leaders of U + I, a real estate developer focused on regeneration, unanimously recommended the offer.
“Developing truly world-class mixed-use communities that inspire and create opportunity is more important than ever. The combination of Landsec and U + I is compelling and will help us to accelerate our strategy, both by introducing exciting new urban development opportunities and strengthening the front-end development capacities and place-creation skills of Landsec ”, a said Mark Allan, Managing Director of LandSec.
Elsewhere, (), the technology and software investment firm, climbed 10% to 37p after announcing that 7RIDGE Investments would inject around £ 4.7million into the business.
7RIDGE has conditionally agreed to subscribe for up to 8.9 million KRM22 shares at 53 pence. KRM22 shares closed at 32p on Friday.
The subscription agreement is conditional on a number of things, including the negotiation and execution of a distribution agreement between KRM22 and Trading Technologies International (TT), a company that 7RIDGE has agreed to acquire conditionally.