Richmond Hill Resources (LON: RHR) shares have risen 21.7% to 2.8p following yesterday’s £600,000 placing at 2.6p, which was at a premium to then then market price. A WRAP retail offer could raise up to £100,000 more and it closes at 4pm on 30 January. Richmond Hill Resources has entered an agreement to acquire the Martello gold project. An initial £100,000 cash payment is being made and 38.75 million shares issued at 2p each.
Great Western Mining (LON: GWMO) has announced assay results from a machine-cut channel sampling programme at the Defender tungsten project in Nevada. Channels A and B showed significant tungsten mineralisation. Silver mineralisation was found in Channel B. The share price recovered 12.2% to 1.75p.
Alien Metals (LON: UFO) says joint venture partner GreenTech Metals is accelerating the phase 1 drill programme at the Munni Munni platinum palladium copper nickel project. A second drill rig will be used. The share price increased 10.3% to 0.215p.
Oil and gas company Seascape Energy (LON: SEA) has upgraded the Keladi prospect. The competent persons report indicates 950bcf of net mean unrisked prospective resources on the Temaris block. Management believes Temaris and Tembakau could become a transformative gas hub for Peninsular Malaysia. The share price improved 11.5% to 77.5p.
FALLERS
Eqtec (LON: EQT) is raising £1.3m at 0.035p/share and this represents 36% of the enlarged share capital. A restructuring of £5.79m of debt will lead to £1.93m being converted into shares. The rest will be changed into £1.93m secured, zero-coupon debt and £1.93m. There is £166,000 of debt owed on the convertible facility with GIS. As part of its new strategy Eqtec is acquiring 99% of the Green Rock copper gold exploration project in Western Australia. It is paying $150,000 in cash and shares. The remaining 1% stake has a carry up to $350,000 and after that it will be lent cash by Eqtec to pay for its contribution with repayment out of future revenues. There is also an option over a 99% interest in the Peak Hills gold copper exploration project in Western Australia. The waste to energy activities will continue to be a core part of the group. The share price slid 27.8% to 0.065p.
Arkle Resources (LON: ARK) is paying £2.03m in cash and shares for an 85% interest in Namibia Uranium, which has four prospecting licences. A placing raised £1.7m at 0.4p/share. There is up to 4,000 metres of drilling planned. The licences are near to three major uranium deposits in Namibia. The share price decreased 14.3% to 0.45p.
Georgia-focused oil and gas producer Block Energy (LON: BLOE) has extended its $2m loan facility until 2 August 2027 on broadly the same terms. The share price fell 3.85% to 1.25p.
Mark and Diana Dixon have increased their stake in SkinBioTherapeutics (LON: SBTX) from 17.8% to 19.3%. The share price declined 3.53% to 20.5p.
Ex-dividends
BP Marsh (LON: BPM) is paying a dividend of 22.33p/share and the share price dipped 6p to 672p.
Gooch & Housego (LON: GHH) is paying a final dividend of 8.3p/share and the share price fell 4p to 704p.
Tracsis (LON: TRCS) is paying a final dividend of 1.4p/share and the share price declined 5p to 360p.