Ananda Developments (AQSE: ANA), a life sciences company focused on the research and clinical development of therapies for a range of complex inflammatory pain conditions, announced that it has signed a contract with Southern Star Research Pty Ltd, an Australian Contract Research Organisation, to carry out a Phase 1 clinical trial investigating the pharmacokinetic profile, tolerability and safety of the Company’s lead investigative asset, MRX1. ANA said this study represents a significant milestone in MRX1’s journey to market, providing it with key data for MRX1’s licensed drug development. Southern Star Research’s deep expertise in clinical research, particularly in the field of cannabinoids, will complement ANA’s own capabilities and accelerate the development of MRX1.
Comment: Once again ANA underlines that it is a serious contender in terms of its CBD based therapies conquering the conventional pharma space. The announcement of the clinical trial here underlines the way that MRX1 is indeed a star prospect.
CleanTech Lithium (CTL), an exploration and development company advancing lithium projects in Chile for the clean energy transition, announced the results of the Placing announced on 8 October 2024, which was oversubscribed and scaled back. The Placing raised gross proceeds of £2.5 million at an Issue Price of 11 pence per share. The net proceeds from the Placing will be applied to CTL’s flagship project, Laguna Verde, and critical work programmes to produce battery-grade lithium carbonate for potential strategic partners to test, and for general working capital requirements.
Comment: Biting the bullet in terms of this latest fundraise ahead of the ASX listing underlines how serious CTL is in terms of its activities in Chile, and particularly Laguna Verde.
Electric Guitar (ELEG), the digital marketing and advertising company providing first-party data solutions, announced that its subsidiary, 3radical Limited has successfully deployed its Voco platform with Near Field Communication (NFC) technology for the first time. ELEG said it was excited to see 3radical’s continued innovation in bringing real-world experiences into the digital realm. This first use of NFC technology at Grand Designs Live demonstrates the effectiveness of its strategy to combine online and offline data collection methods, ensuring businesses gain real-time, actionable insights to drive better customer engagement.
Comment: After a somewhat shaky start in share price terms, few can argue that ELEG is certainly firing on all cylinders as far as the newsflow is concerned. The real world application of 3radical is particularly pleasing.
ECR Minerals (ECR), the exploration and development company focused on gold in Australia, announced an update on its gold and rare earths projects in Queensland and Victoria. ECR said that with much of its recent focus being on its highly encouraging results from the Blue Mountain Project which has given it the confidence to examine the viability of installing a production plant at the site, it continues to develop the other parts of its portfolio of assets. It awaits rock chip results from the Lolworth Project and looks forward to commencing its maiden diamond drilling programme at the Tambo Project later this month. It has also been very encouraged by the level of interest in our tax losses. Transferring tax losses is a specialist and bespoke process but, if successful, the potential value could be significant to ECR.
Comment: With its determined and aligned management, ECR is gaining momentum both on the ground, and with the added help of the latest tax loss initiative. The shares under 0.30p do not currently reflect the work done and the potential returns.
Hercules Site Services (HERC), a technology enabled labour supply company for the UK infrastructure and construction sectors, provided a trading update for the year ended 30 September 2024. The Company expects another record year, with Hercules’ revenue, adjusted EBITDA and Profit Before Tax (PBT) for FY24 to be well ahead of market expectations*. Revenue is expected to be over £105m, representing an increase of c. 24% on the prior year ended 30 September 2023 (£84.7m). HERC said it has a lot to look forward to in FY25. With a successful £8 million fundraise under its belt, it has the funds available to potentially acquire selected labour supply companies in the infrastructure sector, which is well-supported by the new government.
Comment: HERC remains one of the best small cap growth prospects, a state of affairs helped by the public infrastructure gravy train it has been riding, something which should only tilt even more in its favour with the new Labour government. The only disappointment is that more people have not heard the story.
Netcall (NET), a provider of intelligent automation and customer engagement software, today announced its audited results for the year ended 30 June 2024. Demand for Liberty cloud solutions continued to drive growth, with cloud services revenue growing 19% to £19.8m and accounting for 90% of new bookings. NET said this year has been another period of strong performance for Netcall. Its cloud services continue to receive growing demand from new and existing customers, driving increased revenue visibility and strong cash flow.
Comment: Although shares of NET have tripled from their pre-pandemic lows, the company has thus far occupied the no man’s land between being a small cap, and going into the mid-cap zone. Today’s update may help the company with this traditionally difficult transition.
Arc Minerals (ARCM), an exploration company forging partnerships to discover and develop Tier 1 copper deposits, announced that it has received notification of the extension of both of its prospecting licenses at its Virgo Project. These licences are located within the highly prospective Central Structural Corridor of the Kalahari Copper Belt in the Republic of Botswana. ARCM said this is an excellent outcome for Arc Minerals and reinforces the reputation of Botswana as a mining friendly jurisdiction. Critically it maintains its position in this important and exciting part of the Kalahari Copper Belt. It looks forward to reporting back on assays in the coming weeks.
Comment: The JV with Anglo American remains the highlight of the ARCM story currently, apart from ongoing drilling throughout this year, which the company apparently thinks is enough for investors to be enthused on its own.
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