Mitie Group (MTO) shares tick up 5.70% to 63p after strong 3Q trading prompts lifts profits
In a trading update for the three-month period to 31 December 2021, Mitie Group said 3Q revenue was 51% ahead of the same period last year (3Q21 £667m), and 1% ahead of 2Q.
Revenue from COVID-19 related contracts was greater than expected at £109m in 3Q, albeit a reduction of £40m from 2Q22. Excluding these contracts, 3Q revenue of £899m was 6% ahead of 2Q22 (£846m), due to growth in the legacy Mitie and Interserve businesses, it said.
Looking ahead, FY22 revenue and operating profit before other items are expected to be in the region of £3.8bn-£3.9bn and £160m-£165m, respectively - that’s up from £145m-£155m.
Napster Group (NAPS) shares jumped 72,122.22% to 325p on its last day of dealings
Shares in the AIM-quoted music company jumped on Thursday, its last day of dealings.
The Board of Napster announced the proposed disposal of Rhapsody - a subsidiary of the Company containing almost all of its assets and liabilities - to NM Inc for $45.6m last month.
Later that month at Napster’s General Meeting, the special resolution to approve the proposed cancellation of admission of its ordinary shares to trading on AIM was passed.
Thor Mining (THR) shares rise 36.84% to 0.65p after the group identifies ‘exciting’ targets
Following a recent geological review of the Ragged Range project, Thor has identified ‘exciting lithium-caesium-tantalum targets’ associated with its Split Rock Supersuite.
Thor’s project is located in the Pilbara Craton which is known as a highly prospective area for lithium-caesium-tantalum (LCT) enriched pegmatites and hosts two “World Class” deposits at Wodgina and Pilgangoora that formed close to the Split Rock Supersuite (2.85 to 2.83Ma).
Nicole Galloway Warland, Managing Director of the Group said the new targets, which will be advanced as soon as possible, “have the potential for significant exploration discoveries,” while Thor continues drill testing further gold exploration targets at the Sterling Prospect.
Alien Metals (UFO) shares jump 24.00% to 0.775p as it returns ‘exceptional’ grades
Today, Alien Metals said ‘exceptionally’ high silver grades have been returned from initial drilling results of the inaugural drilling program at its high-grade Elizabeth Hill Silver Project.
This supports the team’s view that the near surface oxide expression of the deposit was never fully tested nor its potential fully explored for both the silver and the base metals present.
Bill Brodie Good, CEO & Technical Director, commented: “These fantastic initial results support the team’s view that the near surface oxide expression of the deposit was never fully tested nor its potential fully explored for both the silver and the base metals present.”