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The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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First Class Metals PLC, up 12% at 17.35 pence, 12-month range 9.00p - 17.50p. Enters into an exclusivity agreement with an unnamed third party in regard to a lithium project in Ontario, Canada. This gives sixty days exclusivity on the ‘highly prospective’ project. Adds that precise details of the agreement are covered by a non-disclosure agreement. Chief Executive Marc Sale says: ‘FCM is very encouraged with the opportunity to negotiate entry into this very prospective early-stage lithium prospect and in doing so will significantly augment the portfolio of critical minerals in our exploration focus.’ In addition, company to place 1.9 million shares at a price of 16 pence to raise £300,000 from a single, unnamed high-net-worth resource-sector investor.
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SME Credit Realisation Fund Ltd, up 7.0% at 107.00 pence, 12-month range 83.00p - 108.53p. Completes its asset realisation strategy, begun in 2019, through the sale of a pool of loans comprising of all the company’s remaining loans in the UK, Germany and the Netherlands to an unnamed third-party buyer. As a result of this sale, the firm expects to receive proceeds ‘consistent with the £20.5 million carrying value of UK and CE loans as at September 30’. Sale subject to an indemnity provision of £4.9 million. Following this, SME Credit Realisation intends to publish proposals to be delisted and placed into liquidation ‘at an appropriate time’.
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SMALL-CAP - LOSERS
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SolGold PLC, down 5.6% at 17.35 pence, 12-month range 12.95p - 40.75p. Completes the placing of 180 million shares at a price of $0.20 each to investors. Says Jiangxi Copper (Hong Kong) Investment Co Ltd subscribed to 155 million of the investment shares, while Mexit Capital LP subscribed to 23 million of the investment shares. The share issue raises $36 million. Interim Chief Executive Scott Caldwell says: ‘We are very pleased to welcome Jiangxi as an investor and partner in SolGold. Jiangxi Copper Company Limited, the parent company of Jiangxi, is one of the largest global producers of refined copper. Their presence is another strategic endorsement for SolGold, the world class Cascabel project and Ecuador as an emerging mining jurisdiction and will be of great benefit to Ecuadorians and SolGold shareholders.’
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By Heather Rydings, Alliance News senior economics reporter
Comments and questions to newsroom@alliancenews.com
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