Union Jack Oil (LON: UJO) has received a bid approach from Reabold Resources (LON: RBD). Talks are ongoing about an all-share offer. Gas projects investor Reabold Resources resources may raise cash from the sale of its 42% stake in Daybreak Oil and Gas to Zenith Energy (LON: ZEN). The Union Jack Oil share price gained 25.4% to 4.2p, while Reabold Resources is unchanged at 88.5p.
Semiconductor wafer manufacturer IQE (LON: IQE) has secured a multi-year Indium Phosphide (InP) epiwafer supply agreement with Tower Semiconductor. The epiwafers will be used in data centre infrastructure. There is a minimum purchase commitment in the first year and minimum volume commitments after that. Tower will also provide a broad worldwide and royalty-free licence for porous silicon patents which have been the subject of an IP dispute between the companies. The share price increased 18.6% to 54.85p.
Acoustic insultation products suppler Autins Group (LON: AUTG) has appointed Nick Dashwood Brown as consultant head of investor relations and refreshed its investor website (www.investormeet.autins.com). The share price recovered 16% to 14.5p.
Quantum Helium (LON: QHE) has confirmed helium-bearing gas, reservoir connectivity and commercial oil production following the Sagebrush-1 extended production test in Colorado. The company has a 90% working interest. Helium concentrations of 2.5% have been confirmed and there is an unexpected oil discovery that could produce up to 40 barrels per day. The share price rose 15.6% to 0.026p.
Tap Global Group (LON: TAP) says that its Tap Earn product, which generates income on cryptocurrency, has more than $5m of assets under management. This has been achieved even though Bitcoin and other cryptocurrencies have been weak. Stablecoin yields have increased to up to 8%. The share price is 12% higher at 1.4p.
Forgent (LON: FORG) has revealed assay results for the maiden field programme at the Green Rocks copper gold project in Western Australia. There were 22 samples reporting more than 5% copper and 25 samples with more than 0.3g/t of gold. Some copper grades are up to 29.4%. A drilling programme is being designed. The share price improved 11.8% to 0.019p.
FALLERS
Oil and gas companies are among the main fallers today following the announcement of an agreement between the US and Iran on ending their war and reopening the Strait of Hormuz. Empyrean Energy (LON: EME) slipped 13.6% to 0.0475p, Arrow Exploration (LON: AXL) declined 7.41% to 25p, Jadestone Energy (LON: JSE) lost 6.55% to 29.25p, Serica Energy (LON: SQZ) fell 5.34% to 251.6p and Kistos Holdings (LON: KIST) dipped 3.92% to 245p.