Shares in the helium explorer added as much as 15% in early trade on Monday before easing a little. The gains came off the back of an operational update that provided news of some key developments being seen by the company, along with a series of third party appointments which are necessary for the next phase of work to proceed.
Sticking with the small cap end of the market and Libertine Holdings found support in early trade after management announced a financing update including news that an equity investor had completed its due diligence on the company. There are some caveats attached here but the funding would extend the current cash runway - which is soon to run out – until the middle of next year. The move comes in the wake of news that the Libertine recently concluded a formal sales process, having been unable to find a buyer for the business. Shares were 17% higher shortly after the bell.
News of a discounted fund raise saw shares in Karelian Diamond slide as the new week got underway. The underlying dipped down to 1.5p, matching the price of the newly issued equity, but as management are keen to point out, the news comes at an exciting time following an independent report on the potential of the Nickel Copper Platinum Group Elements Licenses. Shares are currently showing as down 39% on the day.
Headlines we expect on Tuesday
Supreme Final Results
This time last year Revenue £155.6m, Adjusted pre tax profit £14.4m, Net debt £11.8m
CML Microsystems Final Results
This time last year Revenue £20.64m, Pre tax profit £5.22m, Final Dividend 6p
