Cineworld (CINE) shares rose 6.28% to 82.27p as people flock to the cinemas
In recent weeks, cinemas have seen a resurgence as people head back to the screens while upcoming blockbuster films are expected to contribute to the industry’s recovery.
Last weekend, the stock’s competitor AMC Entertainment saw record audience numbers as it reopened screens. With 2021 packed with blockbusters, including films such as Black Widow and Top Gun: Maverick, Cineworld could be set for a potentially strong recovery.
Arden Partners (ARDN) shares soared 24.14% to 18p as revenue soars by 118%
In its half-year results to 30 April 2021, the institutional stockbroking company reported a robust performance which it attributes to the recovery in equity markets, the ‘dramatic’ increase in demand for capital triggered by the pandemic, and increased investor appetite.
As a result of strong trading, the group saw revenue increase by 118% to £5.0m compared to £2.3m of revenue in FY19 with continued growth witnessed across all areas of the business.
Commenting on the group’s outlook, CEO, Donald Brown said: “The second half has started well with a number of transactions having already been completed, including an IPO. Market sentiment has remained positive, continuing the favourable trading environment.”
Ironridge Resources (IRR) shares jumped 21.09% to 23p as it secures binding agreement
Ironridge entered into a binding agreement with Piedmont Lithium, a Nasdaq-listed lithium exploration and development firm, to fully fund and fast track the Ewoyaa Lithium Project which forms part of its Ghanaian Cape Coast Lithium Portfolio, to production.
The Board believes the deal represents ‘a unique opportunity to fast track the development of its industry-leading asset and fund its pathway to production, all whilst providing the opportunity for Ghana to become the first lithium producer in Western Africa.’
A Scoping Study at Ewoyaa, announced in January 2021, supports a business case for 2.0 million tonnes per annum ("Mtpa") production operation with life of mine ("LOM") revenues exceeding US$1.55 Billion, with significant potential to extend the LOM, Ironridge noted.
Zinnwald Lithium (ZNWD) shares rose 18.92% to 22p ahead of AGM
Ahead of its AGM, the German-focused lithium development firm said it is well positioned to be ‘an important supplier of value-added downstream battery grade lithium products.’
The group said it continues to see progress at its now 100% owned Zinnwald Lithium Project where recently uncovered initial results at the project were ‘highly encouraging and showed the potential to produce a high purity, battery grade product that is low in contaminants.’
Zinnwald believes having full operational control of the project has significant benefits, including providing its shareholders with greater exposure to the Project's long-term value.
Micro Focus International (MCRO) shares fell 9.49% to 471.15p despite slashing losses
In its half year results for the six months ended 30 April 2021, the international software product group saw its pre-tax loss narrow to $280.0 million, from $1.04 billion in 2020. Meanwhile, first half revenue dropped 4.6% to $1.43 billion, from $1.49 billion in 2020.
In comparison to 2020 when the company did not offer a dividend, Mirco has issued an interim dividend of 8.80 cents per share, payable in pounds sterling on 6 August 2021.