Zinnwald Lithium bets on Deutsche Lithium
SMALL CAP MOVERS: Zinnwald Lithium bets on Deutsche Lithium while Helium One flies high after its discovery on its Rukwa project
Zinnwald Lithium has been very well received by the market for its acquisition of full ownership of Deutsche Lithium.
Shares rose by a third to 16 pence after spending € 8.8million to buy the 50% of Deutsche Lithium it does not already own. Deutsche Lithium is developing the Zinnwald Lithium project in Germany.
The company pays 1.5 million euros in cash for the stake, with the remainder to be settled in Zinnwald shares.
On the rise: Zinnwald Lithium received great market reception for its decision to take full ownership of Deutsche Lithium
Helium One was another stock that soared after identifying evidence of helium in drilling mud while drilling its first exploration well, on the Rukwa project in Tanzania.
The company said it had identified the helium showings in a shallow section of the Tai-1 well, 70.5 meters away, and added that the gas phase microchromatogram showed helium concentrations of up to 2.2. % (22,084 parts per million).
Stocks ended the week 38 percent better.
Engineering firm MS International, which spans everything from building gas stations to providing services to the defense sector, announced a return to profit last year, boosting its shares by 28% this week.
The company went from an annual loss of £ 3.25million to a profit of £ 1.59million and increased its final dividend from 1.75p to 6.5p.
The outlook has been said to be “much brighter than we could have imagined twelve months ago.”
Hurricane Energy features regularly in the small-cap roundup, typically, it must be said, on the debit side, but this week it has jumped 49% to 1.8p after some legal progress on its restructuring plan.
The England and Wales High Court of Justice sanction hearing over the company’s proposed restructuring plan ended on Wednesday, with judgment reserved.
The 88 Energy counterpart was 18% firmer the week after saying the latest analysis of samples from the Merlin-1 well, drilled earlier this year on the North Alaska Slope, “definitively demonstrates the presence of hydrocarbons “.
Focus: Alaska-focused 88 Energy was 18% firmer the week after it said the last analysis of samples from the Merlin-1 well
Specifically, the company noted that the analysis comes from five of the 18 selections selected from sidewall core samples obtained from promising areas at Merlin-1 that could not be tested by an extraction tool. background fluid. They also correspond to depths where good oil indices were noted during drilling, he added.
Mercantile Ports & Logistics jumped 19% to 0.695p thanks to being awarded a contract.
The company won a contract with Esquire Shipping and Trading, a Mumbai-based freight logistics solutions provider; and Sai Om Petro Specialties, a Mumbai-based company dedicated to handling bulk cargo. The contract is for an initial period of ten years, extendable for a further five years and with turnover of around £ 7million over the next three years.
Robinson, the bespoke plastic and cardboard packaging maker, was the week’s biggest loser, losing about a fifth of its value after warning of pressure on margins.
Since the start of the year, the market price of the resins used by the group has increased by 60% on average and the company has warned that raw material shortages and price increases will continue to have an impact in the short term. on the results of the first semester. from 2021.
Verditex, the solar panel maker, fell 18% to 2.5p after reporting a theft at its factory in Lainate, near Milan.
The company, whose chairman is former Conservative minister Lord David “two brains” Willetts, has carried out a physical inventory check which shows a shortfall to book inventory of around £ 300,000.
Considering the company currently has minimal income and had cash of just £ 1.7million at the end of 2020, the loss is quite significant. Hopefully “two brains” remember to renew the insurance.
In the meantime, the local rozzers have been informed.