Distil, DekelOil and Asiamet Resources

“Blue-chips fell as investors digested Prime Minister Theresa May’s speech which confirmed that the UK cannot stay in the single market as that would mean not really leaving the EU,” says AJ Bell Investment Director Russ Mould.

“Premium drinks group Distil’s shares soared after third quarter figures showed revenues up by 71%. This is the group’s most important trading period and it saw significantly higher levels of sales throughout the quarter and including the Christmas season. Distil’s Blackwoods Gin is benefiting from the buoyant market for premium gin and its RedLeg Spiced Rum continues to make very strong progress. The focus over the coming months will be to open up new markets for RedLeg and prepare for the launch into the US. Distil’s shares were up by more than 19.5% in lunchtime trading.

“Palm oil producer DekelOil wooed investors by confirming it would pay a maiden dividend after its third consecutive year of increased output. DekelOil recently took full ownership of the vertically integrated Ayenouan palm oil project in Cote d'Ivoire, which includes one of West Africa's largest crude palm oil mills. The group believes it now has a proven cash flow generative platform in place that can fund not only regular dividends, but also expansion plans at both Ayenouan and elsewhere.

“Asiamet Resources’ shares rose following further high-grade results at the Beruang Kanan Main copper deposit in Indonesia. Sixty-seven holes have now been completed and the latest results reveal some of the best intersections so far with a greater thicknesses of mineralisation than anticipated in several areas. Asiamet raised £2m last month through a private placement which puts it in a strong position to maintain momentum at a time when the copper price is in the early stages of recovery.”

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