European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTC:EMHLF) jumped 9.9% to 44.5p after United Super announced a 5.4% stake in the company.
Elsewhere in the sector, Tertiary Minerals PLC (AIM:TYM) jumped 9.7% to 0.17p on an exploration update from the Jacks Copper project.
The company has completed the first drilling program on the project, which is in Zambia, with four diamond drill holes completed on two separate traverses spaced 150 meters apart for a total of 746 meters of drilling.
Systematic portable XRF (“pXRF”) analysis of drill core in the field revealed intersections of copper mineralization in all four holes that require confirmation and quantification by laboratory analysis.
1:40 p.m.: Tintra goes up following the patent filing
Tintra PLC (AIM:TNT) jumped 14% to 100p after filing for a UK patent to protect intellectual property.
The banking technology company said the patent would protect the company’s intellectual property (IP) relating to independent digital wallet verification and authentication.
“The intellectual property we are protecting through this patent application is part of our philosophy that legacy banking and Web 3.0 should not see themselves as an existential threat,” said Richard Shearer, chief executive of the society.
12:45 p.m .: Anpario slips as its margins are under pressure
Anpario PLC (LSE:ANP) fell 7.6% to 545p after a trading statement issued ahead of its annual general meeting fell short.
The maker of sustainable natural animal feed additives for health, nutrition and biosecurity said the group’s sales in the first five months of the year were just ahead of the same period of the year last, which President Kate Allum felt was a good performance given the recent Covid lockdown in China. and the Russian-Ukrainian conflict, both of which affected its business performance.
The market felt it was different, getting scared at the prospect of lower margins.
11:50 a.m.: ASOS’ fall continues
ASOS PLC (LSE:ASC) lost more than a quarter of its value at 825p after a profit warning.
The company that was once the pride of AIM has cut its full-year profit forecast to reflect the impact of inflation on consumer behavior, it said in a statement released today. .
The online retailer also announced that it has appointed José Antonio Ramos Calamonte, who joined the company last year to lead the business, as its new chief executive following the resignation of Nick Beighton last year.
10.55am: Bad day for retailers as Halfords join profit warnings
Halfords Group PLC (LSE:HFD) tumbled 21% to 157p after slashing its full-year profit forecast.
Worse, the board didn’t seem too confident it would meet the lowered expectations, as it warned that rising inflation and falling consumer confidence would present near-term challenges.
Liberum Capital Markets said the new guidance implies a reduction of around 15% in pre-tax profit forecasts.
10:00 a.m .: Arkle shows a toe after announcing the discovery of a zinc target
Arkle Resources PLC (AIM:ARK) came off the shelves on Thursday morning after announcing the discovery of a large zinc target.
Shares of the mining project developer rose 17% to 0.85p after the company provided an update on the progress of drilling in its Stonepark license block.
A major fault structure was discovered in the drilling. A flaw structure in his kitchen is a bad thing, but in the mining world, it’s apparently a good thing.
“This is the first time that drilling at Stonepark has found the fault system which is a vital part of Irish zinc discoveries. It is very large with traces of zinc. This may well be the best target found on the block. It needs to be drilled and will be,” said John Teeling, Arkle’s chairman.
9:05 am: Best of the Best is aptly named Thursday morning
Best of the Best PLC (AIM:BOTB) topped the risers on Thursday morning rising 21% to 475p after a flurry of announcements.
Chief among these was the company’s announcement of its intention to return cash to shareholders through a tender offer to buy back shares at 600p per pop.
Shareholders will be able to take advantage of the offer on a one-for-nine basis, which the mathematicians among you will have calculated means that the company could buy back about 11% of its outstanding shares.
The total cost to the company, which specializes in online competitions, could reach £6.28million.
MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC), up 19% to 1.1p, was the second best performer after releasing the results of a phase II trial of its treatment for dementia.
The study demonstrated the treatment’s ability to “inhibit behavioral deterioration” in patients with the disease.
CogniCann, an oral spray that incorporates both TCH and CBD (the active ingredients found in cannabis), has also been shown to be safe.