The Energy World Corporation Ltd (ASX: EWC) share price zoomed over 11% higher today to close at 10 cents. That puts the Energy World share price up more than 45% over the past year, and up 40% over the past month.

Energy World is an independent energy company, primarily engaged in the production and sale of power, and development of LNG projects. The company runs operations in the Philippines, Indonesia, and Australia.

Energy World share price soars as project recommences

The company announced today that, after a 4-year ordeal, it can recommence work on its mid-scale modular LNG facility in Indonesia, the PT. South Sulawesi Project (PTSSLNG).

The Planology Department of the Ministry of Forestry completed a formal review of the historical land documentation that maps where the project is located. In 2017, this land was incorrectly categorised as forestry land. 

In today's announcement, Energy World confirmed that the site has been re-confirmed as industrial land. The company also advised that it is now being encouraged to recommence project construction, along with associated commercial discussions.

To date, US$343 million has been invested in the PTSSLNG project (excluding finance and soft costs). A further US$35–50 million is necessary to bring the first 500,000 tonnes per annum (tpa) of LNG into production. The company stated that it's confident it can use project debt to obtain additional funding.

Energy World expects the project to rapidly expand to a 2 million tpa production rate using future funds generated from LNG sales.

According to the release, its first LNG sales will occur over the next 18–24 month period.

How has Energy World performed recently?

According to the company's quarterly report for the period ended 31 December 2020, it continues working within a coronavirus-impacted environment.

As of 31 December 2020, Energy World reported year-to-date receipts from customers totalling approximately $71.9 million. The company reported a cash bank balance of roughly $5.5 million for the quarter.

The company's half-year earnings announcement will be released at the end of this month.

Despite being up a whopping 40% in the past month, the Energy World share price has lost 50% of its value over the past five years.

The post Energy World (ASX:EWC) share price soars over 40% in 1 month appeared first on The Motley Fool Australia.

Shareholders of these three companies enjoyed solid gains on Thursday.

Select Harvests Limited (ASX: SHV)

The Select Harvests Limited share price gained more than 10 per cent on Thursday with the nut company's shares now trading for around $5.31.

Despite the recent gains the Select Harvests share price has endured a loss of around 12 per cent over the past year.

The outlook for Australia's largest almond producer will be heavily influenced by the price of commodities it deals in for FY 2018 as the company has stated that its crop output this year will be at the same level or below last year's yield.

However, Select Harvests has announced that it has put a strategy in place to boost almond production over the next decade.

The company reported a net profit after tax of $9.2 million for financial year (FY) 2017.

Gold Road Resources Limited (ASX: GOR)

The Gold Road Resources share price was up by almost 7 per cent as the company provided an update on its Gruyere project.

The company is hoping to mine gold at its joint venture project in Western Australia, near Laverton, and stated that construction is pressing ahead on schedule and within budget.

The Gold Road share price has gained around 27 per cent over the past year with the company's shares now trading for about 76 cents.

The company, with a market cap of about $671 million, has stated that it expects to be producing gold bars in 2019.

Energy World Corporation Ltd. (ASX: EWC)

The Energy World Corporation continues to recover since slumping to 21 cents in November.

The company's shares are now trading for 38 cents, representing a gain of about 80 per cent in less than two months.

Energy World, with a market cap of $682 million, produces and supplies energy, including natural gas, to markets in Asia.

The company reported a profit of US$106 million for FY 2017 which amounted to 60 per cent of revenue.

However, the company's FY 2017 profit was down on FY 2016's figure of US$111 million.

The post These 3 companies are posting big gains in 2018 already appeared first on The Motley Fool Australia.