It’s looking like a relatively quiet end to the week in terms of corporate news but ATOME, the producer of eco-friendly fertilizer, published a note this morning announcing that they had signed a 10 year offtake agreement with a Norwegian firm for a plant the company is developing in Paraguay. That means management can now proceed with securing funding to complete the project, with construction expected to get underway before the year end. The ATOME share price was 28% higher in early trade.
The online coach and rail ticket booking site Trainline saw its shares advance again on Friday morning, following the release of yesterday’s well received earnings update plus news of a further £150 million share buy back. The stock gained almost 13% on Thursday in response to the update and the Trainline share price was trading a further 3% higher shortly after the open on Friday.
Natural resources company Red Rock issued a note this morning advising that it had agreed the sale of its gold royalty in Colombia. The royalty which had been held since 2015 hadn’t yielded payments for some time and the £1m realised price reflects a 33% discount to the value at which the asset was booked. However the funds will enable liabilities to be paid down and provide working capital. The deal also comes with warrants attached for shares from the buyer which could hold potential in the longer term. The Red Rock share price spiked as much as 33% higher after the bell but gains were around 16% by 8.30am.
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