The local market has followed the lead of U.S. markets and pushed notably higher on Wednesday.
Three shares at the small end of the market that have caught the eye today are listed below. Here's why they are on the rise:
The Blackham Resources Ltd (ASX: BLK) share price has jumped 9.5% higher to 4.6 cents after the gold exploration company confirmed that mining will recommence at Wiluna in September 2018. In addition to this, management released final results from the latest Wiluna free-milling resource extension drill programme. Those results were high grade and indicated strong potential for additional ore along strike and depth.
The Family Zone Cyber Safety Ltd (ASX: FZO) share price has surged 11% higher to 30 cents after the cyber safety company announced the signing of long-form agreement for services and content provision covering both Vodafone India and Idea Cellular. This could be a major deal for Family Zone as the two telco companies have recently merged to become India's largest telco with well over 400 million subscribers and a 42% market share. Family Zone is now pressing ahead on deployment and go-to-market planning with Vodafone India and advised that the project is being viewed closely by the Vodafone Group globally. While I think this is a very promising development, I would suggest investors wait to see what impact it has on its top line.
The Leigh Creek Energy Ltd (ASX: LCK) share price has rocketed 15% higher to 19.5 cents after the energy company announced the successful outcome of its legal proceedings. According to the release, the South Australian Supreme Court has dismissed the application for an injunction relating to the operational start-up of the pre-commercial demonstration (PCD) facility at Leigh Creek. As a result, management expects PCD operations to commence as planned in the third quarter of 2018. It is looking forward to demonstrating that the project represents one of the strongest opportunities for low-risk underground coal gasification operations in the world.
