Thor Energy (LON: THR) has achieved impressive results from the phase 2 soil-air geochemistry survey at the HY-Range project, where it has a 80.2% interest, in South Australia. Peak natural hydrogen recorded was 0.3%, which is much higher than previous readings and the normal background levels. Exploration targets are being identified. Detail will be added by a 2D seismic survey. The share price gained 16.7% to 0.7p.
First Development Resources (LON: FDR) has been awarded A$100,000 to support the phase 1 drilling programme at the Lander West gold target, which is part of the Selta project in the Northern Territory. Drilling should commence in July. The share price rose 6.56% to 3.25p.
Mixer drinks supplier Fevertree Drinks (LON: FEVR) announced a further £30m share buyback programme. Energy costs are hedged into 2028, and other costs are hedged into 2027. Trading is in line with expectations. Market share has been gained in the UK, Europe and the US. The share price improved 6.42% to 807.75p.
Zephyr Energy (LON: ZPHR) has successfully completed the gas pipeline in-line inspection process at the Paradox project. There are four areas that will be visually inspected, but gas export via the pipeline should happen in the near future. The share price recovered 5.08% to 3.1p.
Orosur Mining (LON: OMI) has found new mineralised zones at the APTA prospect south of Pepas. This is part of the Anza project. The latest hole has shown identified mineralisation of 229.7 metres at 0.88g/t from 189.5 metres. This includes higher grade intervals. The share price increased 2.78% to 20.3p.
FALLERS
Marketing services provider Silver Bullet Data Services (LON: SBDS) is asking for shareholder approval for a departure from AIM. It argues that the weak financial markets mean that the company is undervalued and hampers its ability to raise money. This will also save £500,000 each year. A general meeting will be held on 25 June. A matched bargains facility operated by JP Jenkins will operate for at least 12 months. The company joined AIM on 28 June when it was valued at £34.5m at the placing price of 257p. The share price slumped 54% to 11.5p.
LBG Media (LON: LBG) has been hit by a sharp downturn in higher margin programmatic advertising revenues. Direct sales helped to increase interim revenues 19% to £52.4m, but pre-tax profit fell from £11.1m to £6.3m and full year guidance has been reduced. Zeus expects full year pre-tax profit to slump from £22.9m to £11.9m. The share price declined 23.7% to 26.7p. The December 2021 flotation price was 175p.
Celsius Resources (LON: CLA) revealed that “Maharlika Investment Corporation has announced the completion of the assignment of its rights, title, and interests under the Omnibus Loan and Security Agreement with Makilala Mining Company Inc. to Equinaire Holdings Limited, a wholly-owned subsidiary of Kiri Industries Limited of India”. Celsius is starting an emergency arbitration process to stop any offtake agreement and told Kiri that it will rescind any transactions agreed with MMCI that it has not approved. There is an ongoing arbitration process between Sodor, PMR and Celsius. Management has been appointed to subsidiary Tambuli Mining Company, which holds the Sagay copper project in the Philippines. The share price slipped 16.7% to 0.325p.
Rockfire Resources (LON: ROCK) issued a drilling update for the Molaoi zinc deposit in Greece. There were strong analytical results from hole HMO-016 and high-grade pXRF results from HMO-017 and HMO-018. There is further in-fill drilling continuing. This will go towards updating the indicated resource. The current inferred mineral resource uses a 4% low-grade cut, and equates to 1.09 million tonnes of zinc, 260,000 tonnes of lead and 19.1 million ounces of silver. The share price dipped 10% to 0.135p.