See Today's AIM Risers Featuring Jangada Mines (JAN), Base Resources (BSE), AFC Energy (AFC) and Oilex (OEX)
See our roundup of today's AIM risers - see the full LSE winners & losers board here.
Base Resources rises 25% to 17.25p a share
trading volumes increased almost 10 times above the average today as buying activity has pushed prices up 25%.
Last week Vanguard’s Global Capital Cycles Fund reduced its relevant interest in the company down to 4.07%.
Base Resources is an Australian based, African focused, mineral sands producer and developer
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Jangada Mines rises 10% to 2.575p a share
announced its refinement and optimisation of the process flowsheet has delivered “an impressive 32% and 38% reduction in plant capex and overall capex”.
The company’s Pedra Branca project currently has a JORC (2012) compliant resource of approximately 1.45 million ounces of PGM+Au at a grade of 1.3g/t PGM+Au (2.5 g/t Pd Eq), 140 million pounds of nickel, 26 million pounds of copper and 6.7 million pounds of cobalt.
Jangada Mines is a natural resources company developing South America's largest and most advanced platinum group metals project.
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AFC Energy rises 9% to 6.2p a share
is an industrial fuel cell power company which has developed and successfully demonstrated an alkaline fuel cell system, which converts hydrogen into "clean" electricity.
Over the past few months, AFC Energy has conducted initial engineering and supply chain preparedness before finalising the full suite of terms for supply of a fuel cell system into Southern Oil's Gladstone Refinery in 2019.
Southern Oil are testing renewable technologies from around the world to produce renewable crude, bio-hydrogen and 100 per cent renewable drop in fuels.
Adam Bond, AFC Energy's Chief Executive Officer, said: “We continue to collaborate closely with Southern Oil's technical team to ensure AFC Energy's fuel cell is fully operational within the timeframe of their advanced bio-refinery, expected to be mid 2019."
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Oilex rises 16% to 0.49p a share
continues to rise following its restoration to AIM and favourable high court decision to transfer GSPC's participating interest (PI) in the Cambay PSC.
The legal dispute arose from GSPC's ongoing failure to pay its PI share of Cambay PSC expenses.
Managing Director, Joe Salomon, said: “Importantly, the Judge has recognised that Cambay is in the national interest, and Oilex is committed to meeting its undertakings to the GoI and contributing to India's energy security".
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See all today's AIM Risers here
