Power Metal Resources (LON: POW) has identified multiple prospective target areas at the Reitenbach joint venture in Canada. Fieldwork has identified potential basement sources of uranium. Drilling should start in ten weeks and continue until October. Power Metal Resources’ stake in First Class Metals (LON: FCM) has reduced from 19.5% to 9.9%. Power Metal Resources shares rose 12.2% to 13.75p.
Investment company Volvere (LON: VLE) raised NAV from 1483p/share to 1719p/share and that includes £27.8m in cash and saleable investments. The 80%-owned Shire Foods is the main trading business and pre-tax profit of continuing operations jumped from £3.64m to £6.27m. Higher finance income helped. Trading will be tougher this year. Potential acquisitions are being reviewed. The share price is 6.67% higher at 1920p.
Indian power generator OPG Power Ventures (LON: OPG) says that in the year to March 2025 the power load factor is 69.6%, slightly lower than in 2023-24, buy higher than the previous year. Net cash has improved from £3.6m to £12.6m by the end of 2024. There are further investment opportunities in the energy sector with Indian states. The share price increased 6.52% to 4.9p. The market capitalisation is £19.6m.
Pressure Technologies has changed its name to Chesterfield Special Cylinders Holdings (LON: CSC). The share price improved 2.94% to 35p.
FALLERS
Berenberg reduced its recommendation for Big Technologies (LON: BIG) from buy to hold following the suspension of chief executive Sara Murray due to concerns about the litigation concerning Buddi. The board says that it is aware of information that means it cannot rely on the statement signed by Sara Murray relating to her relationship with four companies holding 17.7% of Big Technologies when it floated in July 2021. The investigations continue. The share price continues its decline with a further dip of 19.3% to 64.6p.
Beowulf Mining (LON: BEM) is raising £1m via a subscription and placing, and there will be a rights issue of up to £2.9m and retail offer of up to £700,000 – the first £100,000 is subject to clawback for the placing. This could raise up to £4.5m in total. The cash will be invested in the Kallak iron ore project and exploration of Vardar. The share price declined 11.9% to 18.5p.
Hutchmed (China) (LON: HCM) says its new drug application for TAZVERIK has been granted conditional approval in China for the treat of adults for relapsed or refractory follicular lymphoma. This follows a phase II bridging study. Follicular lymphoma is the second most common subtype of non-Hodgkin’s lymphoma. The share price slipped 5.6% to 236p.
Oil producer and helium explorer Mosman Oil and Gas (LON: MSMN) has received the first revenues from oil production at the Sagebrush project, where it has an 82.5% working interest. Gross revenues were $54,000 in January. Regulatory problems mean that drilling on the Vecta project will be delayed. Potential drilling targets have been identified at the Coyote Wash project. The share price is 5.66% lower at 0.025p.
Medical procedures provider One Health Group (LON: OHGR) switched from Aquis to AIM on Thursday and closed on the first day at 192.5p. The last Aquis share price was 190p and £8m had been raised at 180p. The share price has fallen back 2.86% to 187p.