Shares of emerging natural gas and helium producer Renergen had their best day in more than two weeks on Monday, after it announced a sale of equity deal with Canadian group Ivanhoe Mines, which may spend as much as $250m (R3.76bn) to take a controlling stake in the group.

An initial R200m equity raise on Wednesday will give Ivanhoe a stake of 4.35% in Renergen, which holds SA’s only onshore petroleum development right, Virginia Gas Project in the Free State, which has some of the highest concentrations of helium recorded globally...