Small companies roundup: Solomon Gold gains 3p to 35¼p
EXPLORER Solomon Gold, which recently announced a £15.1million fundraising to progress its exploration and drilling programmes, gained 3p to 35¼p amid talk of a positive update on its joint venture on Guadalcanal with gold mining giant Newmont.
Black cab maker Manganese Bronze continued to accelerate, up 18p to 88p, as talk persisted of predatory interest from its 20 per cent shareholder, Chinese car giant Geely.
Chariot Oil flowed 15¾p north to 198¾p after an independent resource evaluation fuelled investor interest in the huge potential of its licence areas offshore Namibia. A $15million (£9.4million) fundraising to further its West Africa drilling campaigns and extend the lives of existing mines helped Cluff Gold strike it 12½p richer at 114½p, while consultancy Strontium rose 2p to 16p as annual profits soared 437 per cent to £198,461.
Falklands oil explorer Desire Petroleum retreated 26¾p to 90¾p as it denied it had received any approaches. But its drilling update on its Rachel prospect “offers more questions than answers”, according to broker Mirabaud, which added: “Our concern remains that any discovery made at this location is likely to be significantly smaller than the originally mapped volume.”
