Stanley Gibbons, Great Western Mining and Greatland Gold

“The FTSE100 opened on the back foot with investors still cautious as Prime Minister Theresa May attempts to hold on to power after losing her majority in last week’s snap election,” says AJ Bell Investment Director Russ Mould.

“Stamp and collectibles group Stanley Gibbons was down in early trading after confirming it was considering the sale of some or all of the group amid some confusion over whether an approach had already been made. Stanley Gibbons has carried out a restructuring programme which has created a group that is more stable than at any time in the last 18 months. The group’s shares jumped last week when it announced an approach from Disruptive Capital, although it maintains it was not making an offer for Stanley Gibbons. The group’s shares were down by more than 7.6%.

“Great Western Mining’s shares soared after a large increase in mineral resources at its M2 copper-gold prospect in Mineral County, Nevada. The upgrade followed a comprehensive review by WT Cohan & Associates as part of a JORC compliant scoping study. Investors will also be encouraged by the potential for further upgrades as additional resources have been identified in an undrilled zone at the centre of the current strike. GWM’s shares were up by over 65.3%.

“Greatland Gold was an early riser after it applied for licences covering a large cobalt project in Western Australia. Cobalt is a vital component in many of the new technologies that are set to reshape the future of the global energy market and it represents a new sector for Greatland Gold. Half of the current global supply of cobalt comes from the Democratic Republic of Congo and projects with the ability to scale to meet future global demands are rare. Greatland Gold’s shares were up by more than 8.8%.”

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