SMALL-CAP WINNERS & LOSERS: First Class Metals secures funding
The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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SMALL-CAP - WINNERS
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Bluebird Mining Ventures Ltd, up 13% at 0.16 pence, 12-month range 0.12p-2.00p. Shares in the British Virgin Islands-based gold streaming, mining and treasury company fall after Spreadex discloses it holds a 3.45% stake as of January 22, down from 6.78%.
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SMALL-CAP - LOSERS
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First Class Metals PLC, down 15% at 1.80p, 12-month range 0.62p-3.60p. Secures up to £1.0 million in interest-free convertible loan note funding to advance its maiden drill programme in Ontario, Canada. The explorer agrees the funding with an international investor, with an initial £350,000 tranche expected shortly and further tranches available over a 12-month period. The company says proceeds are used to initiate drilling at the Sunbeam property and for general working capital, while also accelerating the final C$100,000 payment to secure 100% ownership of the Kerrs Gold prope74rty, which hosts a historical 386,000-ounce gold resource. First Class Metals says winter conditions now allow drilling to begin at Sunbeam, with a programme being finalised, and adds that the funding positions the group to progress exploration amid higher gold prices.
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KR1 PLC, up down 12% at 17.61 pence, 12-month range 17.55p-28.00p. The investor focused on the blockchain industry reports net asset value per share of 28.25p at December 31, down from 32.82p at November 30.
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