Yu Group Exceeds Expectations; No Purplebricks Bid

Yu Group, an energy supplier, is doing better than expected. Liberum now expects earnings to be 42% higher than previously thought, at 61.1p per share. This is double the previous year's earnings. Next year's earnings are expected to be 68.4p per share, a 10% increase on previous forecasts. Net cash is expected to reach £34.9m by the end of 2023. The share price has increased by 26.1% to 580p.

Savannah Resources got a good Environment Impact report for its Barroso project from the Portuguese authorities. The company agreed to the set conditions. They will conduct a scoping study later this year. Savannah Resources' share price went up by 19.7%, up to 4.4p.

The oil and gas firm, Challenger Energy Group, has given an update on its OFF-1 license in Uruguay and the potential opportunities. The estimated recoverable resources for three prospects have risen to 1,986mmbls. To be cost-effective, a discovery of 150-200mmbls is needed. Each of the three prospects has the potential for reaching this goal. The Trinidad wells are generating enough money to cover expenses. The company's stock price has gone up by 13.5% to 0.105p.

Premier African Minerals' shares went up again after UK Investor Magazine's recent article about the company's share price drop. Specifically, the share price went up by 8.77% to 0.62p.

Tekmar Group, an offshore services provider, got a new contract. The job is for the Generation 10 cable protection system. Its value is over £5m. They will finish it in 2024. The share price went up by 8.33% to 1.95p.

Lecram Holdings won't make an offer for Purplebricks (LON: PURP). The sale to Strike Ltd should proceed if shareholders approve it at a meeting on 2 June. The company is worth £1.9m after a 20.6% stock drop to 0.5p. Any leftover cash (potentially £2m) will be given to shareholders early in 2022.

Oncimmune has released its financial update. They report a cash outflow from their operations of £2.32m. This was within six months up to February 2023. Oncimmune sold their antibody technology to Freenome. This resulted in a lower ongoing cost. Despite this news, the shares went down by 21.8%. The new price is now at 28.7p.

Kefi Gold and Copper got £6.44m by selling shares at 0.7p each. However, the share price went down by 19.7% to 0.671p. This money will help finish financing the Tulu Kapi gold project and the exploration programme in Saudi Arabia.

Empire Metals (LON: EEE) saw some investors taking their profits after a big discovery was announced in Western Australia. The Pitfield project showed a huge mineral system with titanium and copper. The initial drilling showed a 40km by 8km area with more drilling to come. The share price dropped by 13.9% to 2.625p, but it was still higher than the previous Friday's closing price of 1.85p.