The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Critical Mineral Resources PLC, up 13% at 1.30 pence, 12-month range 1.00p-1.90p. The exploration and development company, focused on clean energy metals in Morocco, signs a formal deal relating to a ‘high-quality copper-silver project’. Under a joint-venture, CMR will be able to earn-in to a sedimentary hosted copper deposit in Morocco, when ‘agreed milestones’ are achieved. ‘Based on current information, the company’s board strongly believes that the SHC deposit will develop into a significant new discovery,’ CMR adds. CMR can earn into 60% of the asset. In addition, CMR says it has now received a second tranche of investment of £1.3 million. It explains £825,000 stems from the issue of 56.9 million new shares at 1.45p each. The remainder has been invested through a loan instrument, convertible at 1.45p each and with a 5% accruing interest rate.
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VH Global Energy Infrastructure PLC, up 12% at 64.78 pence, 12-month range 48.90p-67.60p. It plans to begin an ‘asset realisation strategy’ after engaging with shareholders. The firm had looked to repay ‘the trust’ that shareholders have shown in the four years since its initial public offering. ‘While no one option was favoured by all shareholders, the feedback from the majority of shareholders was a desire for the company to return capital via a sale of the company’s portfolio of assets with a view to maximising value,’ the investor in energy infrastructure adds. The realisation requires a change in its investment policy. It would need shareholder approval for this at a general meeting.
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SMALL-CAP - LOSERS
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Petra Diamonds Ltd, down 5.3% at 19.78p, 12-month range 19.23p-45.00p. Shares extend declines on Friday after a 3.7% fall on Thursday. The South Africa and Tanzania-focused diamond miner said Thursday its second quarter revenue fell amid a ‘very difficult diamond market’.
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