Sharp gains for mining and exploration company Premier African this morning after the company provided an update on its Zulu lithium plant. Testing is progressing well and the facility is moving towards its operational stage. There’s still work to be done in terms of offtake agreements and plans for a secondary flotation plant have been paused as the company awaits further assessment of this but the market has embraced the news with the Premier African share price up 80% in the first few minutes of trade.
The medical products and technology company Convatec issued a note this morning advising that it had initiated a share buyback of up to $300m as part of its previously stated capital allocation policy. The news however as been sufficient to offer support to the stock, with the Convatec share price adding more than 5% in early trade. The buyback, if executed in full, would equate to around 5% of the issued shares at today’s valuation.
FTSE-250 listed North Sea oil and gas operator Ithaca issued half year results this morning which saw average production up by more than 100% and a significant reduction in operating expenses on a per unit basis. Today’s update also included news of dividends both at the interim stage, as well as the prospect of an increased distribution later in the year. Production guidance for the full year has also been upgraded and the Ithaca share price was 5% higher shortly after the open.
Most read news on Investegate this morning
Kasiya Test Pit Rehabilitation Trials Results - - Sovereign Metals Limited NPV (DI) (SVML)
Launch of Metr1c Division - - Pri0r1ty Intelligence Group PLC (PR1)
