Biffa (BIFF) shares ticked up 4.66% to 415.25p after nearly doubling in value since January
Shares in the waste management company jumped today despite having no news out. The stock has nearly doubled in value since the beginning of the year from 229p to over 400p.
Earlier this year, Biffa acquired the Company Shop for £82.5m. At the time, Biffa told investors that this move marked a “significant strategic step” in its commitment to the circular economy.
Company Shop prevents waste by identifying surplus produce and then collecting, processing and redistributing it for sale. Commenting on the market potential, Biffa highlighted to its shareholders at the time that sustainable waste management is ‘increasingly at the top of the agenda for retailers, manufacturers and food service organisations, with greater political, regulatory and social pressures to reduce the amount of waste generated by the industry.’
Marechale Capital (MAC) shares soared 87.88% to 3.05p after completing transaction with lithium firm
Today, Marechale has completed a transaction with the lithium exploration and development company, Weardale Lithium Ltd ('WLL'), a lithium exploration and development business based in the Weardale Valley, Durham, in which the Company has an 8.7% shareholding.
Based on the value of the recently completed fundraising transaction for WLL, Marechale’s shareholding in WLL is valued at £1.5 million. Additionally, it has secured the right to be awarded further warrants over WLL shares for any involvement in future fundraising rounds.
Marechale’s WLL holding provides investors with the opportunity to invest in what is expected to be one of the first lithium exploration and development companies in the north of England.
Lithium is a key component in hybrid and electric vehicle batteries. With the rise in electric vehicle manufacturing, lithium producers anticipate increasing demand for years to come.
Patrick Booth-Clibborn, CEO of the Company, said: "This transaction is an exciting addition to the Marechale portfolio and bolsters our exposure to the renewable energy markets.”
Falcon Oil & Gas (FOG) shares jumped 31.84% to 13.25p after Australian well exceeds forecasts
Shares in the international oil & gas group continue to rise after it confirmed on Friday that testing at one of its Australian wells in the Beetaloo sub-basin had significantly exceeded the required parameters set out by an industry analyst for the well to show its commerciality.
Results from the Amungee NW-1H well suggested a normalized gas flow rate equivalent of between 5.2m and 5.8m standard cubic feet a day per 1,000 meters of horizontal section.
"Not only does this test result significantly exceed these parameters and significantly increase our assessment of the Velkerri dry gas play, but it also puts the Beetaloo on a par with other shale gas basins in North America," said Chief Executive Philip O'Quigley of these results.
Challenger Energy (CEG) shares rose 15.00% to 1.725p after it was awarded STOW-TT certification
The Caribbean and Atlantic margin focused oil and gas firm has been awarded the STOW-TT, a certification, an essential part of the social licence for it to operate in Trinidad and Tobago.
The STOW-TT certification, which stands for "Safe to Work in Trinidad & Tobago”, provides Challenger with a standardized HSE requirement and an independent system for certifying operators and contractors with respect to Health, Safety and Environmental requirements.
CEO, Eytan Uliel said the certification demonstrates “an operator's commitment to its people, vendors, contractors, regulatory authorities, and the local communities in which it operates.”
discoverIE Group (DSCV) shares fell 5.26% to 1,183p following Friday's share price jump
The stock was trading 5% lower today during the late afternoon. Last week, discoverIE jumped to highs of 1,250p on Friday after the Company spent £77m on acquisitions in the US and UK. The Company will pay $80.5m for US-based software firm Logic PD as well as £18.2m for Antenova, an antenna and radio frequency module maker based in Hertfordshire.
discoverIE said the acquisitions represent progress with its stated growth strategy; this includes creating organic growth opportunities in its target markets, expanding its international footprint significantly in North America and enhancing underlying operating margins.
“With a clear strategy focused on long-term, high quality growth markets, a diversified customer base, and a strong pipeline of acquisition opportunities, the Group is well positioned to make further progress on its key priorities,” commented Nick Jefferies, CEO of discoverIE.