Helix Exploration (HEX), the helium exploration and development company, provided an operational update on the Clink #1 well at the Ingomar Dome Project. HEX said Precision Drilling Rig 704 has commenced mobilisation to site at Clink #1 on the Ingomar Dome where re-entry work is expected to begin shortly. Once mobilisation and rig-up is completed it is expected to take approximately 7 – 10 days to case over the problematic Mowry shale and run a wiper trip to total depth.
Comment: HEX is very much back on track on an operational level at Clink #1, and one would expect the share price to respond in kind over the rest of October.
Beeks Financial Cloud Group (BKS), a cloud computing and connectivity provider for financial markets, announced its final results for the year ended 30 June 2024. Underlying2 EBITDA increased 27% to £10.7m (2023: £8.4m). Underlying profit before tax increased 68% to £3.9m (2023: £2.3m). BKS said this has been another year of strong trading with double-digit growth across the board. Demand for its product is stronger than ever, fuelling a regular flow of new contract wins and extensions that offer long-term, recurring revenues. The expansion of its customer base is a testament to the value of our offering becoming increasingly recognised by the market and has resulted in a record sales pipeline.
Comment: BKS is one of the growth companies on the London market we should all be grateful for, and encourage. We also need a few hundred more such companies to revive the City of London.
hVIVO (HVO), a specialist contract research organisation (CRO) notes the announcement by Enanta Pharmaceuticals, reporting positive topline results from a Phase 2a Respiratory Syncytial Virus human challenge trial in healthy adults conducted by hVIVO for EDP-323, its second RSV antiviral candidate. HVO said Enanta’s trial demonstrates the depth of actionable insights a comprehensive human challenge trial can provide. It congratulated Enanta on these impressive results, which mark a significant step forward in the development of new medicines to treat respiratory infections such as RSV.
Comment: In between Octopus Investments stakebuilding we have excellent news as far as the bread and butter of HVO as the company underlines the effectiveness of human challenge trials.
Ananda Developments (AQSE: ANA), a life sciences company, announced that Professor Marie Fallon has agreed to join the Company’s Scientific Advisory Board to provide the Company with expert technical advice and guidance. The SAB is Chaired by Professor Clive Page, a non-executive director of Ananda Developments and it held its first meeting in Edinburgh in May 2024. Prof. Fallon is also the lead investigator for Ananda’s Phase II study investigating the pain relieving effects of MRX1 in patients with Chemotherapy Induced Peripheral Neuropathy.
Comment: ANA underlines once again, if this were needed that its CBD therapies for pain relief have not only gone mainstream, but that there is a massive need for them, and significant, transformational market opportunity.
Jubilee (JLP), a diversified metals producer with operations in Zambia and South Africa, provide a further update on the roll-out of its Copper Strategy in Zambia which is centred around achieving an initial production capacity target of 25 000 tonnes of copper per year. The company is hosting an investor presentation covering its audited financial results for the year ended 30 June 2024 on Wednesday 9 October 2024. JLP said it was pleased to announce this transaction as its second open-pit mining operation in Zambia. The strategic acquisition of two open-pit operations serves as an example of its ability to leverage its process capability and early mover advantage to secure significant near-surface copper resources which are already in operation.
Comment: While anyone with any experience of the stock market will appreciate JLP as the multi-faceted jewel that it is, there is still work to be done in terms of getting this message out, and simplifying it so the average investor understands what they are wishing for.
Hummingbird Resources (HUM) notes the recent developments from Pasofino, including the launch of a non-brokered private placement and the appointment of Brett Richards as a Non-Executive Director. Pasofino Gold Limited has announced the launch of a non-brokered private placement to raise up to US$2.5m.
Comment: One hopes that the financial rejigging at HUM and its holdings is over soon, so the company can see its share price finally enjoy the benefits of the record high gold price, and the production HUM is and will be delivering.
ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, is pleased to announce that Frederik Bruhn-Petersen has been appointed as a Non-executive Director of the Company.
Comment: It is pleasing to see PBX strengthening up its management, against any unwanted advances from cash crunched Optibiotix (OPTI).
Electric Guitar (ELEG), the digital marketing and advertising company providing first-party data solutions, announced a significant advancement in its AI-driven strategy through the integration of 3radical Limited’s Global Data Store (GDS) with Marcomms.ai, a UK joint venture between Electic Guitar and Exelia Technologies, a software developer specialising in blockchain, machine learning, data processing and AI.
Comment: It is pleasing that the market is finally cottoning onto ELEG’s first party data niche, as this has been reflected in the recovery in the share price.
Cavendish Financial (CAV), a UK investment bank, today issues a trading update in respect of the six-month period ended 30th September 2024. CAV said its profitable first half, in both public and private markets, demonstrated the broad appeal of its service offering and the efficiency of its platform. Group revenue for the period is expected to be no less than £27.5m versus £19.5m on a like-for-like basis* in the same period last year. This is an increase of 41% year-on-year. The uncertainty over the impact of the upcoming Budget has been well publicised and together with our peers, it has made the compelling argument that there needs to be more incentive for investment in small and medium-sized UK companies, not less.
Comment: CAV has defied the City slowdown, putting its peers into the shade. However, even it will struggle to shake off the possibility of the new Marxist government’s dogma in terms of undermining any area of the economy which does not have the required number of “Working” people. The Budget may not be as bad as expected, but to think that will be off the back of pleading from companies like CAV may be naïve.
Thor Explorations (THX), a West African-focussed minerals exploration and mining Company, announced the first set of results from an initial drilling programme that targets the down-plunge potential beneath the current open pit extents at the Segilola Gold Mine. THX said it was pleased to intersect high-grade gold mineralisation 50 metres below the current pit design. This is an encouraging start to the “proof-of-concept” drilling programme, which has returned positive intersections in the projected locations below the current open pit design.
Comment: THX fights back after the slurs in the press regarding the company, something if anything, provides a decent dip to buy into at current relatively cheap share price levels.
Guardian Metal Resources (GMET), a strategic development and mineral exploration company focused in Nevada, USA, announced further drillhole assay results from the Company’s ongoing drilling campaign at its 100% owned Pilot Mountain Project located within the prolific Walker Lane Mineral Belt in Nevada, USA. GMET said it was is safe to say it was extremely excited about the results reported today, including PM24-012 which has delivered a globally significant tungsten result. Not only did it intersect 39.3m of 1.02% W03Eq, but this extended interval is located almost entirely within the scoping level open pit mine design, in an area which was previously occupied by relatively low grade material from the previous resource model.
Comment: The drilling success of the company has taken the share price to well into the 30p’s at best, well above the initial 8.5p listing price. One would expect 50p plus when we get news of non-dilutive US Government funding.
Power Metal Resources (POW), the London-listed exploration company with a global project portfolio, confirmed that the formation of a uranium-focused joint venture involving Power Metal’s entire portfolio of uranium licences, has successfully been completed with UCAM Ltd. POW said UCAM’s investment is expected to provide Power Metal shareholders with exposure to at least five high impact drilling programmes, with significant advancement on several more.
Comment: POW has clearly pinned a great deal on the JV with UCAM, something which given the lay of the land with regard to uranium, and the nature of the relationship appears fully justified.
Petro Matad (MATD), the AIM quoted Mongolian oil company, provides the following operational update on activities in its Block XX Production Sharing Contract area in eastern Mongolia. MATD said its focus continues to be getting Heron-1 on stream as soon as possible and hopefully Heron-2 can also be brought onstream during the 2024 operational season.
Comment: Shares of MATD once again fell to the bottom of their 2p – 4.5p range last month. One would have thought that given the operational process and crude price rebound, this will be the last time a test of support will be required.
Mast Energy Developments (MAST) announced an update regarding its Pyebridge 8.1MW flexible power generation asset. Preliminary revenue for September 2024 reaches record high of c. £86,000 before receipt of Embedded Benefits; Final revenue tally for August 2024 increased by 12% to c. £51,000 (up from c. £46k previously reported) following receipt of Embedded Benefits.
Comment: Not quite National Grid yet, but perhaps getting there, now the company has proper management.
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