Harbour Energy (HBR) shares sees light relief and move 7.57% higher to 341.1p
Shares in Harbour Energy saw relief despite recent delays. In recent weeks, the production of first gas at the Tolmount field was postponed by the London-listed company following an electrical issue discovered during the platform’s final commissioning and testing.
At the time, the company said the problem with electricity is being studied, and that plans are being developed to fix it. Due to the current uncertainty around the timing of Tolmount start-up, the Company revised its production guidance for the coming year.
As a result, Harbour's 2021 revised production guidance is now 185 to 195 kboepd on a proforma basis and 170 to 180 kboepd on a reported basis. Meanwhile, forecast full year operating costs of US$15-16/boe and total capex of US$1.1bn remain unchanged.
Abingdon Health (ABDX) shares soar 72.1% to 52.5p as it launches CE marked antibody test
The rapid test developer has launched the CE-marked BioSURE COVID-19 IgG Antibody Self Test which can produce results in 20 minutes using a fraction of a drop of finger-prick blood.
The launch follows on from a previous exclusive manufacturing agreement secured back in July 2021 between Abingdon and BioSure Limited ("BioSure"), a UK company specialising in the provision of rapid in-vitro diagnostic testing solutions, including self-testing.
Abingdon said the rapid test will allow individuals to know and monitor their own antibody status pre-vaccination, post vaccination and following infection with the SARS-CoV-2 virus.
The Company said it expects the test to be ‘particularly useful’ as populations worldwide continue to be vaccinated to monitor the effectiveness of an individual's immunity status.
Abingdon explained that this will have utility alongside potential booster vaccinations.
Renold (RNO) shares jumped 22.13% to 23.9p as it expects FY22 profit to beat expectations
Renold, which supplies industrial chains and related power transmission products, said strong momentum experienced in 4Q of the last financial year has been maintained in the new financial year, resulting in the continued recovery of both revenues and order intake.
In an update released this morning, the Group said order intake was £79.7m for 4Q21, a rises of 61.3% over the prior year equivalent period or 69.3% at constant exchange rates.
Excluding the recently announced £11m long term military contract, the Company reported that order intake for the period increased by 39.1% or 46.7% at constant exchange rates.
The Board said it now expects adjusted operating profit for both the first half and full year of FY22 to be higher than both market expectations and the equivalent prior year period.
Altus Strategies (ALS) shares rose 12.90% to 70p as it closes first round of mine acquisition
Altus has completed the first closing of its recently announced deal to acquire an effective 0.418% net smelter return royalty interest on the producing Caserones Copper Mine.
Altus is acquiring the net smelter return royalty interest (NSR) interest for $34.1m through a strategic 50:50 partnership with TSX-V and NYSE-listed EMX Royalty Corporation ("EMX").
On completion of the acquisition, the SPV will have acquired an effective 0.836% NSR royalty for US$68.2 million. Altus said it is principally financing the acquisition with a $29 million acquisition loan facility agreement provided by La Mancha Fund SCSp ("La Mancha").
Pennon Group (PNN) shares fell 3.13% to 1,269p as Credit Suisse downgrades stock
Shares in the Exeter-based British water utility firm fell today after analysts at investment banking firm Credit Suisse downgraded the group to ‘underperform’ from ‘neutral.’
Analysts at Credit Suisse said Pennon Group’s balance sheet and dividend leave little headroom and that the buyback and capital return provide only temporary support.
Credit Suisse, which cited an “extreme valuation” explained that whilst Pennon is the best-performing UK utility from a return on regulated equity perspective, that the stock’s shares “more than price in this leadership” according to the investment bank’s view.