Movers of Friday 16 April 2021

Francesca Morgan
Francesca Morgan
Vox Newswire
15:31, 16th April 2021

Petropavlovsk (POG) shares ticked up 4.30% to 26.14p after laying out 2021 guidance 

Shares in the gold miner have risen by over 11% in the past two weeks since releasing a statement in which its new Chief Executive, Denis Alexandrov, highlighted that the Company remains focused on expanding output from its existing assets before considering mergers. 

At the end of March, the Group issued its 2021 guidance which outlined its aim to collect 430 - 470koz in total gold production during the year. Its guidance also included a total capex of $140m, consisting of sustaining and development capex of US$120m and exploration spend of c.US$20m. This compares to capex for FY 2020 of c.US$118m. 

Following Alexandrov’s appointment, it said a comprehensive review of the business outlining a clear pathway to future growth is underway. It said this will include, inter alia, a new medium-term corporate development strategy delivered by 3Q21, followed by the proposal of a dividend policy and a full management restructuring by the end of 2Q21. 

POG price chart

Chamberlain (CMH) shares soared 39.29% to 9.75p as the Group returns to trading on AIM  

Shares in the engineering firm soared on Friday after the company’s suspension from AIM was lifted as a result of the Group finally publishing its results for the 2020 financial year.  

The Company previously informed investors that both the effect of the COVID-19 pandemic as well as the ongoing audit process had resulted in several delays for the financial results. 

In its FY20 results, Chamberlain said revenue had fallen by 21% in the year ended March 2020 which it said reflects the challenges posed to the automotive sector over the year. 

In particular, the Group said a reduction in European car production meant lower sales. 

To date, Chamberlain said the market outlook is ‘more positive’ than previously reported. It said all businesses have enjoyed sales levels above those of the prior year in recent months, excluding the effect of the company’s loss of BorgWarner contracts back in December 2020. 

Chamberlain said management are confident that sales at the Company will stabilise in the first half of the 2021/22 financial year and will then grow from the post BorgWarner low, with the growth gathering pace in the second half. The Board said it expects growth from all business units and a return to profitability and cash generation post our restructuring. 

CMH price chart

UK Oil & Gas Investments (UKOG) shares jump 28.26% to 0.295p as it receives drilling consent from Basur-3  

The company unveiled last week that the Turkish Ministry of Energy and Natural Resources has granted UKOG Turkey and Aladdin Middle East formal consent to drill the forthcoming Basur-3 appraisal well located in the Resan licence AR/AME-UKO/K/M47-b1, b2 ("Licence").   

UKOG Turkey, a subsidiary of UKOG, currently holds a 50% interest in the Licence, which contains the potentially significant Basur-Resan oil discovery.  Basur-3 is considered the first key step towards establishing the commerciality of the Basur-Resan Mardin oil pool, calculated to contain potentially transformational discovered recoverable oil resources.   

"The speedy grant of drilling consent from the Turkish government further illustrates how oil and gas projects can be pushed ahead more rapidly and with more certainty in Turkey than in the UK onshore, a key enabler for value creation and preservation,” it highlighted.  

UKOG price chart

Angle (AGL) shares rose 13.58% to 94p as it secures first large-scale pharma contract  

The liquid biopsy firm said it has secured its first large-scale pharma services contract worth up to US$1.2m with potential for further contracts from the same customer.   

The Company informed investors that the customer is an unnamed pharma company with ‘numerous cancer drugs under development’ and revenues exceeding $1 billion a year.  

The customer has selected Angle’s Parsortix® system to undertake longitudinal monitoring (i.e. before, during and after drug intervention) of patients in three separate global clinical trials in prostate cancer and other locally advanced and metastatic solid tumours.      

This latest contract represents the first large-scale adoption of the Parsortix system for processing patient blood samples to help inform decision making in cancer drug trials. 

The work under the contract, which is expected to be worth up to US$1.2m over some 18 months, relates to a large Phase III prostate cancer study and two smaller Phase I studies. 

AGL price chart

TI Fluid Systems (TIFS) shares fell 4.55% to 293.75p as Bain Capital places 52m shares 

Shares in the manufacturing firm fell after its largest shareholder and outgoing CEO and President sold 52.4 million shares via an accelerated bookbuild to institutional investors. 

Following completion of the placing, the American private investment firm, Bain Capital, will hold a stake of around 44.4%, or just over 231m ordinary shares, down from 54.4%.  

TIFS price chart 

 

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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