Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Why did MetalNRG shares spike up 11%?

The energy investment company’s share price has been climbing steadily for a month.

MetalNRG share price stock target analysis trade buy sell analyst ratings cfds spread betting Source: Bloomberg
  • MetalNRG (LON: MNRG) share price closed nearly 11% higher on Thursday (08 September 2021)
  • The micro-cap stock has rallied 27% in the last 30 trading days
  • The company said last week an initial data compilation programme at its GoldRidge, Arizona, project was completed ‘within budget and timeframes’
  • Keen to take a chance on MetalNRG shares? Open an account with us to start trading the stock.

MetalNRG stock price: what’s the latest?

MetalNRG shares soared over 10% on Thursday, as investor interest in the company continued to climb this week.

In the last one month alone, the small-cap stock has rallied some 27%, as the company issued new equities and project updates.

MetalNRG made its debut on the London Stock Exchange in July 2019 at 0.30 pence a share. It hit an all-time high of 1.20p on 16 October 2020.

Year to date, however, the natural resources and energy investment company’s shares are down by 25%.

Positive project updates

Earlier this week, the company said that an initial programme of data compilation at its fully owned GoldRidge project in Arizona, first announced in May 2021, has been completed.

MetalNRG said the programme, which it had said was essential to recover and assimilate the substantial number of maps and quantity of digital and paper files into a useable archive, was ‘completed within budget and the timeframes set’.

The company intends now to turn its attention to turn-key prospects to develop vein-hosted mineral resources from drilling at the GoldRidge property, as well as pursue the potential discovery of satellite gold deposits.

Rolf Gerritsen, CEO of MetalNRG Plc, commented: ‘The GoldRidge Project appears to offer a considerable larger opportunity than previously anticipated and the work completed to date by Bart confirms that the area has been under explored and under developed with solid indicators of mineralisation throughout the property.’

He added: ‘Between now and November we will be on site and we will further validate our assumptions via detailed field work. We have the waste dumps and the remaining pillars that are available to us but going after them without a plan to capture the additional opportunities would not be right to ensure we maximise returns for our shareholders.’

BritNRG is ‘now profitable’

Last week, MetalNRG also provided an update on BritNRG Limited’s production and revenues, asset development and key activities over the last few months.

It said BritNRG, which it owns, is ‘now profitable’, thanks to ‘the effects of the operational improvements carried out during 1H 2021’.

BritNRG is currently producing an average of 3,500 bbls/month compared with production of less than 1,500 bbls/month averaged in Q1 2021, it stated in the update.

BritNRG also sold 3,780 bbls in July at an average price of US$73.88 per barrel (equivalent to US$280,000 of gross revenue). Similar levels of sales have been achieved in August with monthly oil sales projected to exceed 4,000 bbls.

Keen to take a chance on MetalNRG?

Go short and long with CFDs on MetalNRG and 16,000+ shares with the SG’s No.1 platform.* Learn more about trading shares with us, or open an account to get started today.

* Based on the Investment Trends 2018 Singapore CFD & FX Report based on a survey of over 4,500 traders and investors. Awarded the Best Online Trading Platform by Influential Brands in 2020. Awarded the best retail FX provider for Asia by FX Markets in 2020

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.