Pantheon Resources PLC (LON:PANR) fell from the heights, crashing 45% to 21.55p after announcing drilling results from the Talitha #A well in Alaska.
The market was unimpressed at the intermittent flow rate of up to 100 barrels of oil per day, which Pantheon conceded was a disappointing rate.
The company added that the Kuparuk formation proved more geologically complex than expected.
10.55am: Gemfields sparkles as Kagen mine ramps up to full-tilt
Gemfields Group Limited (LON:GEM), up 12% a7 8.125p, sparkled early doors after announcing the results of its recent emerald auction.
The gems, all extracted before operations at the Kagem emerald mine were suspended in March 2020, raised US$31.4mln at an average price of US$115.59 per carat.
It is expected that mining operations at Kagem will ramp back up to full scale by the end of April 2021.
10.00am: Yourgene and Genedrive boosted by Public Health England diagnostics announcement
Yourgene Health PLC (LON:YGEN) was 8.3% higher at 16.25p after its Coronavirus (COVD-19) testing services got the seal of approval from Public Health England.
The molecular diagnostics group has been awarded a framework agreement under Public Health England’s National Microbiology Framework for Lot 1 (Diagnostic Goods and Services) of the four-lot tender for Yourgene’s Clarigene SARS-CoV-2 assay and Manchester-based COVID testing service.
“We expect the award to support business development outside the scope of this agreement with a growing network of commercial partners, addressing privately funded testing in healthcare and workplace settings,” said Lyn Rees, the chief executive officer of Yourgene.
The successful tender was made under Lot 1 of the National Microbiology Framework (Diagnostic Goods and Services).
The shares were up 9.6% at 73.45p.
9.05am: Equiniti in play
Equiniti Group PLC (LON:EQN) shot up 19% to 163.4p after it was confirmed that privately-owned Siris Capital Group is interested in buying the company.
Siris has submitted a non-binding proposal to acquire the shares at 170p a pop.
Further announcements will be made in due course, but [blah blah blah] there can be no certainty that a formal offer will be made, Siris said.