Long dated income play Dukemount Capital (DKE), managed to show some signs of stability after recent weakness in the wake of news of a Joint Venture Agreement in relation to flexibility power expert HSKB Ltd. It appeared that some investors took the view that near to 0.5p and with a market cap of less than £2.5m, the company was rapidly approaching a shell valuation. In addition, it seemed logical that after announcing a deal which could be transformational, Dukemount would follow through with funding on reasonable terms. The shares bounced 7%.
The was ongoing positive follow through at Wishbone Gold (WSBN) after the well received premium placing at 14p for £1.4m last week. Given how rare premium fund raises are the Australia focused precious metals explorer has offered a text book example on why they should be more common. The stock was up nearly 20% to close at 16p, as the market looked forward to drilling at Red Setter, with its potentially ultra high grade assets near Havieron. The recent approval of drilling by the West Australian Goverrnment has been regarded by observers of the company as being the green light on significant positive newsflow in coming months for Wishbone.
Sticking with a similar kind of space, and Oracle Power (ORCP) was back in the news as the AIM listed natural resources and power project developer, announced the granting of exploration tenement E53/2140 which contains the Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia. The company said that the Project represents a previously unrecognised significant greenstone belt proximal to Northern Star's Jundee Gold Mine, host to previous production and resource of over 7Moz gold. In addition, the granting of E53/2140 now allows ground disturbing activities such as drilling, with a drill programme to be designed on collation of outstanding exploration results.
After a long period of relative silence, investors warned to Gabriele Cerrone’s appears on the Sunday Roast stock market show, with the Chairman of Tiziana Life Sciences (TILS) able to deliver an extended appraisal of the biotech play and his own views of where it is headed. Particular standouts were the potential with regard to Accustem and Formulab, but arguably it was the decision of Cerrone to take his bonus in shares at over £2, as compared to 74.5p currently which highlighted his belief in the company as well as his skin in the game.
It would appear that if you are going to make a bet, it might as well be a binary one. At least this seems to be the current position as far as loans group Amigo (AMGO) is concerned. There seems to be an almighty tug of war between the bulls and the bears, but one traders seem quite happy to take a punt on. This is bold given the apparent risk of shareholders being wiped out at the whim of a Judge. Even if this is not the case the upside in the aftermath of the Scheme of Arrangement from the present 18.63p is not exactly easy to deduce. What was interesting to technical traders is that the high for the stock to start the week was 22.16p, exactly at the top of the recent chart gap. That level will now take some beating.