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Pantheon plunges as it runs into difficulties in Alaska

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.

Stop me if you have heard something like this before but Genedrive PLC (LON:GDR) said it is included in a Public Health England framework agreement for diagnostic equipment and services.

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.

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