Investors took heart from director dealings at two different companies on Tuesday, with esports company Gaming Realms PLC (LON:GMR) and miner Rainbow Rare Earths Ltd (LON:RBW) both spiking.
Gaming Realms powered up 20% to 7.95p after news that its chairman made a £100,000 purchase of shares.
The company announced that Michael Buckley upped his stake in the esports company to 9.5% as he snaffled another 2mln ordinary shares last Friday.
Meanwhile, Rainbow Rare Earths Ltds (LON:RBW) chief executive George Bennett and chairman Adonis Pouroulis both bought 5.5mln shares at a price of 3p per shares.
The directors spent £163,934 each, taking their combined stake in the mining company to 27.5%, which they said underlined their "commitment to, and confidence in, the company and the Gakara project".
Rainbow also reported that this month it had shipped a further 100 tonnes of concentrate grading at around 56% total rare earth oxides from Gakara, with very low levels of radioactive material.
The two nuggets of news combined to lift the shares 6% to 2.65p.
11.30am: Two Shields tops up two investments
Shares in Two Shields Investments PLC (LON:TSI) fell 14% to 0.125p after the technology and metals focused investor announced a £1mln share placing.
The AIM-listed company issued 1bn new ordinary shares to new and existing shareholders at 0.1p, a 28% discount to its previous closing price of 0.14p, plus one warrant for every two placing shares subscribed, exercisable at 0.2p for a period of twelve months.
The investor said it will put £400,000 towards its 11.34%-owned anti-counterfeiting software BrandShield, matched by the same amount invested in social network WeShop, which is an innovative, digital social network platform focused in which it already holds a 6.7% stake.
Way up in the FTSE 100, the big faller was oil supermajor BP PLC (LON:BP.), which is falling further as the session continues.
As well as reporting a swing to a loss in the third quarter, BP's CFO told analysts on a conference call that the company is unlikely to raise its 2019 dividend.
Brian Gilvary said hiking the payout now would be "premature" and if an increase does come in future, it is unlikely to be before Bernard Looney takes over from outgoing CEO Bob Dudley in February.
10.05am: Europa Metals rides higher on back of bigger resource
Europa Metals Ltd (LON:EUZ) charged higher on Tuesday morning, up 12% to 0.038p after it increased the size of the resource at its Toral zinc project in Spain.
The first indicated resource was unveiled at 2.7mln tonnes grading 8.9% zinc equivalent, bringing the overall JORC resource up to roughly 18mln tonnes at 7.4% zinc equivalent.
Toral is now thought to contain around 830,000 tonnes of zinc, up 30%, and approximately 570,000 contained tonnes of lead, up 12%, and 14mln contained ounces of silver, up 8%.
This is, said executive director Laurence Read, “the most significant development for the Toral project to date” and the numbers will form a “major paRead More – Source
