Active Energy, Thor Mining and Highland Gold Mining

“The FTSE got away to a positive start with rising miners, commercial property and utilities all helping the blue-chip index higher, as did softer sterling,” says AJ Bell Investment Director Russ Mould.

“Active Energy’s shares soared after it inked an in-principle agreement for a Crown timber licence and forestry management deal covering 1.2million hectares with the Province of Newfoundland and Labrador. The two sides are also evaluating a number of other collaborative opportunities which involve timber processing and the commercialisation of the CoalSwitch product, the world's first 'drop in' biomass fuel that could completely replace coal in existing coal fired power stations without the need for expensive retrofitting. Active Energy’s shares were up by 30% in early trading.

“Thor Mining’s shares jumped following a 55% tungsten resource inventory increase at its wholly owned Pilot Mountain project in Nevada. This comprised a maiden resource estimate for the Garnet prospect and an increase in the Desert Scheelite deposit following a re-evaluation. Importantly, the grade of mineralisation is relatively high which underpins the robust nature of the project. Thor Mining’s shares were up by more than 16.1%.

“Highland Gold Mining has received exploration licences for two greenfield sites next to the existing licence areas for the Mnogovershinnoye mine in far east Russia. The Kulibinskaya licence area, located to the south west of MNV, covers 38 square kilometres, while the Zamanchivaya area includes 4.2 sq. km to the north east of MNV. Potential mineralisation has been previously identified in both of the licence areas and Highland Gold has set aside a budget of $1m for preliminary prospecting work at the sites this year.”

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