The UK listed Mexican precious metals mining company published a note this morning, advising the market that it had agreed to acquire Probe Gold, a Canadian gold miner, in an all cash deal. This valued the target at CAD780m and gives Fresnillo access into a prolific mining camp in Quebec. This adds 10 million ounces of gold to the resource base and once the acquisition completes, Fresnillo will look to further advance the development of the project. The Fresnillo share price added around 2% in early trade.
AIM-listed medical equipment supplier Genedrive saw its shares finding favour on Friday morning after the company revealed that it was in discussions with a major shareholder who was considering providing a £1m loan. The company’s stock has been surging of late, up more than 100% on the week and almost 300% over the month, and a recent MoU signing with the Kingdom of Saudi Arabia bolstered support. Terms of the loan are still to be announced but markets seem to be taking it as a vote of confidence. The Genedrive share price is currently up 16% on the day.
After volatile price action on Thursday in response to a Q3 trading statement, Haleon is continuing to extend gains as we move towards the weekend break. As we noted 24 hours ago, the initial response to the resilient Q3 performance was positive, taking the shares more than 6% higher in early trade before profit takers moved in. However any weakness is looking to be short lived, with early gains taking the stock close to yesterday’s highs. The Haleon share price was 2% higher shortly after the open.
Most read news on Investegate this morning
Fresnillo to acquire Probe Gold - - Fresnillo (FRES)
Galactica Development Update - - Helium One Group Ltd (DI) (HE1)
Quarterly Activities and Cash Flow Report - - Atlantic Lithium Limited NPV (DI) (ALL)
