logo-loader

Urals Energy denies takeover talk

Published: 22:07 20 Apr 2015 AEST

oil_drill_rig_onshore350_5534ecaed31d4

Urals Energy (LON:UEN) has described speculation of a potential takeover of the company as unfounded.

Shares in the junior Russian oil company shot up nearly 60% earlier this morning.

In response to the movement the company issued a stock market statement telling investors it had not received an approach in regards to a possible takeover.

“Aside from the unfounded speculation, the board is not aware of any reason for today's share price movement,” the company said.

Trading at 2.75p just after 1pm Urals shares were up almost 5%. In earlier deals Urals had traded as high as 4.15p.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

6 hours, 34 minutes ago