There was a trading volume surge at the share price highs of the year for wealth management and adviser Kingswood (KWG). The company announced that it has completed the acquisition of Admiral Wealth Management Limited, a Chartered Financial Planning firm based in North Lincolnshire. Admiral provides independent financial advice to individuals and corporates primarily in Lincolnshire and Yorkshire.
Cadence Minerals (KDNC) said it notes that Hastings Technology Metals (ASX: HAS) has announced that ore sorting test work has confirmed its suitability within the beneficiation process in delivering early gangue mineral rejection and a significant upgrade of rare earths material prior to the higher-cost processing steps across the Yangibana Rare Earths Project, in Western Australia's Gascoyne region. Cadence is a 30% joint venture partner on 3 Mining Leases, 6 Exploration Licences of the Yangibana Project. Hastings is its 70% joint venture partner on these assets and owns 100% of the remaining portion of the Yangibana Project.
There was a decent woosh higher of traded volume as well at Asiamet Resources (ARS), to accompany a strong percentage gain for the shares of 16%. Here speculation was that Aeturnum was finally out of the stock. The Hong Kong based commodities company had initially signed a deal worth $160m at the bottom of the market last year. However, after a degree of dilly-dallying by Aeturnum, ARS terminated the deal, but it would appear that a mysterious buyer (so far) has bought around £7m worth of stock, implying that fresh dealmaking could be afoot for Asiamet in the near term.
It would appear that when people think ValiRx (VAL), they think not only of a clinical stage drug development company, they also focus on patents. Shares of Valirx pushed 10% higher, even though it has been a month since the last patent portfolio update from the company. At the time ValiRx was keen to underline that expanding geographical and scientific protection for its IP provides a strong commercial background to promote to potential partners. This also provides a foundation for company valuation growth. Presumably, some in the market are anticipating a fresh update from ValiRx in the near future.
Shares of Russia focused PGM and battery metals group recovered 4% to 17.6p, as investors started to look forward interims likely to land by the end of next month. This would most likely contain the type of significant newsflow and data regarding the company that shareholders would like to see, the Rosgeo JV and the recent three new plants at West Kytlim. It is interesting here that even though at the end of June the company answered in detail questions regarding the potential asset sale and dividend payout, some are not able to tie together the unique mix of M&A and a significant operational mining existing at the same time. Perhaps the run up to next month’s update will help focus minds?
Casual dining group Fulham Shore (FUL) has continued to catch the eye, especially since its apparent ability to be nimble during the pandemic and beyond. The present position is that the company has been running hard since lockdown was lifted with total group revenues for the eight weeks from 21 June 2021 to 15 August 2021 averaged over £1.5m per week. This performance represents an increase of over 8% in revenues compared to the equivalent period in 2019 calendar year. What is particularly noteworthy is the observation from the Franco Manca / Real Greek group that work from home has actually helped more provincial locations and evened out inner city pandemic disruption. Shares of Fulham Shore closed up 12%.