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Kefi Gold and Copper jumps as Tulu Kapi gold project launch nears

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Kefi Gold and Copper PLC (LON:KEFI) jumped 8% to 1.972p at noon after announcing it is completing preparations to launch its Tulu Kapi gold project after the company’s AGM on 30 June.

The miner said it remains on track to commence project commissioning in late 2022 and to reach full production by mid-2023, in line with previous guidance.

It is waiting for approval from the Ethiopian authorities and meanwhile it has appointed a mining contractor and employed 150 staff.

11.05am: Victoria Oil & Gas rises after 2019 invoices finally settled

Victoria Oil & Gas PLC (LON:VOG) advanced 9% to 6p in the late morning after receiving US$5.1mln from Eneo regarding the settlement of invoices issued in 2019, including interest.

“We are very pleased to bring the Eneo episode to a close, and the funds significantly strengthen GDC’s working capital position. In addition to the funds received, GDC gains valuable tax credits which will be used to enhance cashflow,” said chief executive Roy Kelly.

GDC is the firm’s subsidiary Gaz du Cameroun, which is an onshore gas producer and distributor based in Cameroon.

10am: Airlines under pressure after UK government’s disappointing travel list update

Airlines were under pressure in mid-morning after the UK government didn’t add any areas on the green list of countries that can be visited without quarantine, and even removed Portugal.

Wizz Air Holdings plc (LON:WIZZ) shed 3% to 4,547.5p, British Airways owner International Consolidated Airlines Group SA (LON:IAG) was down 2% to 195.08p and easyJet PLC (LON:EZJ) dipped 1% to 945.6p.

Ryanair PLC (LON:RYA), whose boss Michael O’Leary said the move wasn’t based on any science or public health, lost 2% to €16.10.

Meanwhile, Fevertree Drinks PLC (LON:FEVR) dropped 5% to 2,476p after Morgan Stanley trimmed its stake.

The US investment bank now owns 1.5% of the posh mixer producer, compared to 4.9% previously.

8.45am: Origo Partners early riser after selling interest in Gobi Coal & Energy

Origo Partners PLC (LON:OPP) was an early riser on Friday, surging 19% to 0.185p after selling its entire interest in Gobi Coal & Energy.

The group received US$275,437, which it said was that asset’s last reported carrying value.

The investment company said it will further update the market as to its remaining assets when its annual report is released before the end of this month.

Talking about sales, IQ-AI Limited (LON:IQAI) 5% to 7.9p after its subsidiary Imaging Biometrics sold its brain tumour imaging platform to the Los Angeles County Hospital.

The deal follows the recent installation of the IB Clinic technology at the Keck Medical Center of USC, also in LA. The two run a healthcare network serving around 10mln patients.

No financial details were provided.

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