Hochschild Mining (HOC) shares rose 10.87% to 254.9 as silver prices rally
Shares in the precious metals company which specialises in the exploration of silver and gold jumped on Monday after the price of the precious metal increased 10% to $29.49 an ounce.
While the price of Silver has dipped back below its eight-year high over $30 per ounce, it is still up at around 10% today at $29.49/oz (in comparison to a price of around $25/oz a week ago). Carlo Alberto De Casa, chief analyst at ActivTrades, says silver’s gains are ‘startling’.
The Chief Analyst wrote on the move, “Silver has gained about 20% in less than 4 days, a huge increase in the world of commodities, that would generally take months or even years to achieve and would be mostly motivated by fundamentals rather than pure speculation.”
According to Reuters, several Chinese investors rushed into silver investments on Monday, “pushing up Shanghai silver prices while boosting performances of related stocks and funds, matching calls by global retail investors to boost prices of the precious metal,” it noted.
“Retail traders on Reddit and other social media who caused a rally in share prices of U.S. video game retailer GameStop have now turned their attention to silver, leading Chinese investors to also jump on the bandwagon,” it wrote of the commodity dubbed ‘poor man’s gold.’
Clear Leisure (CLP) shares soar 54.55% to 0.510p as the group makes progress across its investment portfolio
The AIM-listed investment company told investors that it is ‘making progress’ with its investments. Firstly, the group said the court in Bologna has chosen to continue its £0.91m legal claim against the previous management of Sosushi through an arbitration process.
The statement outlined that the arbitration process formally commenced on 18 January 2021 with the Company notifying the Chairman of the Monza Guild of Accountants requesting to appoint three independent chartered accountants to preside over the arbitration process.
The board expects the arbitration process to be complete within one year of the appointment of independent accountants, adding that the group is “confident with the strength of its case.”
In a business update released this morning, Clear Leisure also reported to investors that it was making progress with its investments in Mediapolis, ForCrowd, Eufingest and Miner One.
“Despite the difficult operating environment consequent upon the Covid pandemic, we have managed to make progress with legal actions, as planned; have completed the restructuring of our debt and have continued to focus on every aspect of the investment portfolio,” commented Executive Chairman and Chief Executive of Clear Leisure, Francesco Gardin.
Parity Group (PTY) shares jumped 32.43% to 12.25p after securing new three year contract
The data and technology focused professional services company has announced the award of a three year contract with the Scottish Government where the Company will support the delivery of the Reaching 100% (R100) superfast broadband infrastructure programme.
R100 builds on the Scottish Government's commitment that every home and business across Scotland should be able to access superfast broadband. Under this new contract Parity’s services will ensure quick and efficient build-out of the superfast broadband infrastructure.
The award represents a total opportunity of up to £5 million over the next three to six years for Parity which the Company said will strengthen its order book as well as provide ‘further visibility to underpin its current expectations for Group performance over the period.’
PetroNeft Resources (PTR) shares rose 19.57% to 1.375p as it eyes up further 40% interest in Licence 67
The London-listed oil & gas exploration and production company announced this morning that it has signed a sales and purchase agreement with Belgrave Naftogas BV to acquire an additional 40% interest in Licence 67 in the Tomsk Oblast region of Russia for $2.9 million.
PetroNeft has increased its focus on the Licence 67 which contains the two oil fields Ledovoye and Cheremshanskoye, over the last 12 months due to the "significant potential" that it offers in terms of exploration and production, the Company highlighted to investors.
The transaction terms as outlined include the issue of 80 million PetroNeft shares to Belgrave Naftogas at a price of $0.015 per share for $1.2m representing an 8.7% shareholding. Completion of the acquisition is expected no later than March 12, the Company noted.
Hammerson (HMSO) shares fall 7.51% to 21.38p with continued lockdown restrictions
Shares in the European property firm remain low - around 90% below its pre pandemic worth. The group recently warned investors that trading continues to be challenging following new COVID-19 restrictions, reversing an improvement in footfall in the run-up to Christmas.
Last month, HMSO said that only a quarter of its tenants are open either offering essential retail, Click & Collect, and/or takeaway and delivery services in the UK. Footfall has declined in line with the introduction of new restrictions, particularly across UK flagships and Ireland.
Significant restrictions still remain in the Company’s central locations, including France which is still subject to a 6pm national curfew, primarily impacting its food, drink and leisure brands.