Ondine Biomedical (OBI), a Canadian life sciences company pioneering light-activated antimicrobial treatments, announced that it has agreed to a private placement financing in exchange for common shares from a new third-party private investor in Canada to support commercial growth, raising C$5 million. OBI said “following its recent announcement of a distribution partnership with Mölnlycke Health Care, a world-leading MedTech company that specializes in innovative solutions for wound care and surgical procedures, it was pleased to have this additional capital in support of its expected sales growth.
Comment: Raising this latest cash was the missing piece of the jigsaw as far as OBI, and now we should see the company supercharge its rollout, especially in the wake of the recent Mölnlycke news.
Vast Resources (VAST), the AIM-listed mining company, said it wished to confirm with respect to its announcement released yesterday morning that there is no current enforcement threat against the Company or its assets on 26 September 2024 or on any other near term date noting that, whilst the Company is in default of the repayment terms to Alpha and Mercuria as notified on 29 April 2024 (together the “Lenders”), both have confirmed to the Company that they do not currently expect to take action against the Company to enforce repayment. Rather and as announced, the Company continues to discuss arrangements with both Alpha and Mercuria and will make a further announcement once this is concluded.
Comment: Yesterday’s typically over-egged / scaremongering Nomad induced RNS warrants and gets a clarification, to underline that VAST remains very much in the game, despite 3rd party shenanigans which are nothing to do with it.
LifeSafe Holdings (LIFS), a fire safety technology business with innovative fire extinguishing and prevention fluids and fire safety products, announces a series of purchase orders amounting to over $200,000 during 2024 to date, from Fire Suppression Solutions LLC, a leading US fire safety distribution business, supplying advanced fire suppression technologies and training across both public and private enterprises in North America.
Comment: Shares of LIFS have started to stir of late, something which is now understandable given the latest US news. The news underlines how much of a recovery LIFS shares are still due.
Rome Resources (RMR) announced its unaudited interim results for the six months ended 30 June 2024. RMR said that shortly after the end of the Reporting Period, on 26 July 2024 the RTO completed and the Company re-admitted to trading on AIM alongside completion of a £4 million fundraise (before expenses) for the Company’s drilling campaign. This now catapults the Company into a new and exciting phase of development and the funds raised are already being put to good use with 3 active drill rigs on site in DRC as of the date of this announcement.
Comment: On and in the ground it can be said that RMR has delivered a top notch performance since the RTO. We are just waiting on the last of the bedwetters from pre RTO days to exit, before the value in RMR shares is fully realised.
Cake Box Holdings (CBOX), UK’s largest retailer of fresh cream celebration cakes, is pleased to announce that it has collaborated with global hazelnut spread brand, Nutella, to develop and launch “Cake Box’s Nutella Collection”, a lineup of five new products for the UK market. CBOX said it was thrilled to partner with Nutella, a brand that resonates with dessert lovers across the globe. This collaboration aligns perfectly with its mission to deliver exceptional quality and delicious taste for its customers. It was confident that these new products will inspire and delight its customers as they celebrate life’s special moments.
Comment: Apparently, the main ingredients of Nutella are sugar and palm oil (greater than 50%). It also contains 13% hazelnuts,[13] cocoa solids, and skimmed milk. So we can look forward to a new pancreas blasting confection from CBOX. Time to hit the gym.
DigitalBox (DBOX) is a mobile-first digital media business and owns leading websites Entertainment Daily, The Daily Mash, The Tab, The Poke and tvguide.co.uk. Its interim’s to June 2024 report 32% growth in Revenue to £1.6m with an EBITDA of £222k and an operation loss of £8k. Its cashflow positive and net cash reduced to £1.9m after investing £1m. The H1 performance exceeded expectations illustrating the success of the buy and build strategy and a strong operating model dealing with a fast-evolving media landscape. The global digital advertising market continued to move cautiously as publishers and major platforms deal with the AI opportunity. Digitalbox is alive to all strategic options for these opportunities present and has the tools and technology to further grow its brands.
Comment (Jon Lev): At 3.35p with a £4m Mkt Cap the positive outlook for digital advertising market is not reflected in the EBITDA/ EV of 10x.
Time To ACT (AQSE: TTA), an engineering-led group focused on technology for the energy transition supply chain, is pleased to announce its audited full year results for the year ended 31 March 2024 (FY24). FY24 Financial Highlights: Underlying revenue growth of 68% to £1,891,065 (2023: £1,127,198). TTA said that during the financial year it was preparing for the Group’s admission to the Aquis stock exchange, and it was pleased that in this busy period its team has continued to deliver revenue growth and improve its gross margin. The growth demonstrates its potential as it begins to process the early stages of the ‘Bow Wave’ of commercial opportunities in our Diffusion Alloys Large Parts business.”
Comment: With such a good start to life on Aquis, TTA could easily have made it to AIM. The goal now is to leverage up its listing and make as much noise as possible as far as showing its mettle on the challenger market.
hVIVO (HVO) announced that Octopus Investments has raised its stake in the company from 10% to 11%.
Comment: Octopus keeps chipping away, 1% at a time as far as each recent TR1 has been concerned. It looks as though the latest purchase should get HVO shares to stay on the right side of 30p.
Sovereign Metals (SVML) announced that the Company was invited to and participated in a panel discussion at the inaugural 2024 MINVEST / Minerals Security Partnership (MSP) Finance Meeting (Meeting) in New York, U.S., during the United Nations General Assembly (UNGA), on Monday 23 September 2024.
Comment: SVML is rubbing shoulders with the big wigs of its space, something which is more than justified given the magnitude and prospects of the flagship Kasiya project.
Raspberry Pi (RPI), a low-cost, high-performance computing group, announce its results for the six months ended 30 June 2024. First half profitability was stronger than expected with Gross Profit of $34.2m and Adjusted EBITDA of $20.9m up 55% against a supply-constrained comparative H1 2023.
Comment: One of the more obviously excellent IPOs of the recent past, one where the service providers can just sit back and suck up their retainers. The jump in EBITDA underlines the acceleration RPI is delivering.
Hummingbird Resources (HUM) announced its unaudited results for the six months ended 30 June 2024. HUM said this year has been a challenging period for it and its stakeholders, with operational and market headwinds to navigate. Despite these hurdles, it has made significant strides in positioning the Company for a stronger future. Its focus on advancing key projects, particularly the ramp-up at Kouroussa and the implementation of strategic initiatives at Yanfolila, is laying the groundwork for improved performance in the second half of the year and beyond. Securing the US$25m refinancing with Coris was another crucial step, providing the flexibility needed as it progresses towards its goal of becoming a 200 Koz pa producer.
Comment: The RNS underlines the refinancing with Coris and the goal of becoming a 200 Koz pa producer. The share price and market rating is yet to catch up with this prospect.
European Green Transition (EGT), a company developing green economy assets in Europe, announced its unaudited interim results for the period ended 30 June 2024. EGT said that following its successful listing on AIM in April 2024 where it raised gross proceeds of £6.5m, it has continued its momentum by signing two option agreements on exciting green economy projects: the Cyprus Copper Tailings Recycling project and the Altan Carbon Credit Project.
Comment: Well funded and managed, we have seen a good start from EGT on the London market, something which advancing its projects can only build on.
Yü Group (YU.), the independent supplier of gas and electricity, meter asset owner, and installer of smart meters to the UK corporate sector, announced its unaudited half-year results for the six months to 30 June 2024. Adjusted EBITDA increased 49% to £20.4m (H1 23: £13.7m), representing a 6.5% margin (H1 23: 7.0%) in line with management expectations.
Comment: Definitely a winner in the Green, Climate Change, Tax / revenue generation scam, YU seems to be flourishing in the current environment, and enjoying its “independence” as well.
Mkango Resources (MKA) announced that HyProMag Limited is participating in the £11 million grant funded PULSE project. HyProMag said it was very pleased to be part of this groundbreaking project and to work with a leading consortium in the field of electric vehicle innovation, validating HyProMag’s HPMS technology and positioning the company at the forefront of rare earth magnet recycling technology development and commercialization.
Comment: With every RNS we seem to be seeing MKA growing in stature as a serious play. The shares, still near the low end of the range, also appear to be responding in kind.
Union Jack Oil (UJO), a UK and USA focused onshore hydrocarbon company noted today’s announcement from Rathlin Energy U.K. Limited regarding the West Newton gas development project, located within PEDL183, onshore UK in East Yorkshire. Rathlin, operator of the licence, has been informed by the Environment Agency, that its application on behalf of the Joint Venture partnership for the recompletion of the West Newton A-2 well has been ‘Duly Made’.
Comment: There seems to be a gratifying disconnect between the crazed Ed Milliband green noises, and what is happening on the ground. At least for now organisations such as the EA are apparently playing ball.
Metals One (MET1), which is advancing strategic minerals projects in Finland and Norway, announced its unaudited results for the six months ended 30 June 2024. MET1 said that together, its projects represent an opportunity for Metals One to become a key supplier of strategic minerals to European OEMs which are in growing need of traceable, sustainable supplies and are incentivised by supportive EU legislation to seek local sources of critical metals.
Comment: Woefully under-rated, and with none of the prospective grants / EU support in the mix either, we still have MET1 overdue a re-rate.
First Class Metals (FCM) the UK listed metals exploration company, announced that it has been approved to participate in the Ontario Junior Exploration Program for work to be completed on the Dead Otter Trend-North Hemlo. OJEP is supporting junior mining companies by investing $13 million in 2024-2025 including $4 million for a critical minerals funding stream. OJEP will fund up to 50% of eligible expenses incurred on the North Hemlo property from 1 April 2024, to 15 February 2025, This is expected to result in OJEP providing up to CAD200,000 of funds.
Comment: A very pleasant grant bonus as far as FCM is concerned, as it continue to prove up one of its key assets. One would expect more announcements in the same vein could really help the still lowly share price.
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