17th Mar 2025 10:26
(Alliance News) - 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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Kavango Resources PLC, up 28% at 0.80 pence, 12-month range 0.60p-1.70p. Reports "significant upgrade to the underground mining potential" of prospect 1 at the Hillside project located in Zimbabwe. "Kavango intersected a reef, hosting quartz and sulphide bearing veins, in a previously inaccessible level of the historic main shaft," Kavango says. "Recent mapping and sampling of the reef on existing development levels together with the discovery of further mineralisation while rehabilitating the old main shaft and west shaft indicates previously unknown potential for both lateral and vertical continuity."
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Harmony Energy Income Trust PLC, up 22% at 79.32 pence, 12-month range 38.14p-81.00p. It has agreed to a possible GBP190.8 million takeover by Foresight Group LLP. The cash approach values each HEIT share at 84 pence, a 29% premium to Friday's closing price in London of 65.2p. London-based HEIT is an investment company that invests in battery energy storage systems in the UK. HEIT concludes that the possible cash offer would deliver a superior outcome for shareholders and, as such, "would be minded to recommend" such an offer.
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Great Southern Copper PLC, up 15% at 3.80 pence, 12-month range 1.00p-4.40p. Great Southern reports "outstanding results" from drilling at the Mostaza mine in Chile. High-grade copper-gold results underline the potential of the asset, Great Southern says.
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SMALL-CAP - LOSERS
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Predator Oil & Gas Holdings PLC, down 16% at 4.20p, 12-month range 3.60p-12.60p. The stock returns all of the 20% advance it made on Friday, despite saying it is "very confident" after drilling results for the MOU-5 well in onshore Morocco. The well was "successfully drilled within a pre-drill budget forecast". "The results of the MOU-5 drilling programme have unlocked a new Jurassic play-opening trend never before tested in the Guercif Basin. A helium show has provided the impetus to further assess the helium potential of the MOU-5 structure," CEO Paul Griffiths says. "We are very confident, following the MOU-5 drilling results, that a potential farminee will recognise the value proposition assignable to the Jurassic project."
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By Eric Cunha, Alliance News news editor
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Related Shares:
Kavango ResourcesHarmony EnergyGreat Sth CoppPredator Oil