The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Wildcat Petroleum PLC, up 8.1% at 1.95 pence, 12-month range 0.60p-4.00p. Lands the right to reconnaissance work at over 20 offshore petroleum blocks in Sierra Leone. The assets span 24,000 square kilometres, the company said. Wildcat targets investment opportunities in businesses and assets within the upstream sector of the petroleum industry, including the use of blockchain. The recce permit followed a ‘process of engagement with the Petroleum Directorate of Sierra Leone’, Wildcat says. ‘This permit grants Wildcat a non-exclusive right to conduct reconnaissance operations within the relevant blocks for the period of six months from the start of the agreement,’ the company says.
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Kosmos Energy Ltd, up 2.9% at 599.65 pence, 12-month range 136.00p-622.50p. Has ‘strong’ first quarter, with a sharp jump in revenue coming from increased oil prices. For three months ended March 31, revenue surged to $659.1 million, up sharply from $176.6 million a year earlier. The oil company, focused on Ghana, Guinea and the US Gulf of Mexico, swung to a net income of $1.4 million, from a $90.8 million loss a year prior. Oil & gas production expenses rose to $124.7 million from $45.8 million. Kosmos saw total net production in the first quarter hit 72,600 barrels of oil equivalent per day, at the top end of guidance.
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NextEnergy Solar Fund Ltd, up 2.4% at 110.55 pence, 12-month range 0.97p-110.80p. Nears 12-month high as it agrees a second co-investment with NextPower III ESG for €22.5 million, for a 13% stake in a solar project being constructed in Santarem, Portugal. Energisation of the 210 megawatt project is scheduled to take place in the second quarter of 2023, following which the project is on-track to benefit from a long-term power purchase agreement for the sale of electricity. NextEnergy will fund the co-investment from its revolving credit facilities.
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SMALL-CAP - LOSERS
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Georgia Capital PLC, down 3.0% at 578.00 pence, 12-month range 460.00p-725.00p. Says net asset value dropped in the first quarter of 2022 on market movements and the war in Ukraine. Further, the Tbilisi, Georgia-based investor warned that the long-term consequences of the war still remain difficult to predict. The investor in businesses in Georgia said its net asset value per share stood at ₾52.62, or £14.16, as at March 22, down 17% versus ₾63.03 as at December 31. The company’s NAV fell by 18% quarter-on-quarter to ₾2.37 billion from ₾2.88 billion.
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