Helix Exploration (HEX), the helium exploration and development company focused on helium deposits within the ‘Montana Helium Fairway’, announced the completion of construction work on access road and drill pad at the Rudyard project area in Montana. HEX said it was pleased to announce that, following the successful completion of drilling at Clink #1 on the Ingomar Dome Project, we are ready to initiate drilling operations at our Rudyard Project in Northern Montana. This appraisal well will assess a known discovery in a domal anticline that has previously demonstrated flow rates with up to 1.3% helium adjacent to Rudyard.
Comment: HEX underlines its recent progress in the sense that after production casing being cemented at Clink #1, it is also firing up at Rudyard, something which could trigger a decent flow of news as we head towards the end of 2024.
Roadside (ROAD) announced that Roadside Retail Limited, its joint venture with Meadow Real Estate Fund VI LP, set up to acquire and develop UK-based roadside real estate assets, has signed an agreement with Lidl Great Britain Limited, to acquire 12 stores for total consideration of £70 million. ROAD said this is a significant transaction for both Lidl and the JV, deploying a substantial portion of our joint venture’s targeted investment quantum into high-quality assets with a nationally recognised tenant under strong covenants. The Lidl portfolio is an excellent example of the JVs strategy in action, rapidly providing targeted capital to enable tenant expansion whilst securing asset management fees and creating additional opportunities for income initiatives.
Comment: One of the essentials for small cap companies these days is to be able to rub shoulders with nationally known blue chip counterparties, something which ROAD has done today. Indeed, today’s Lidl news underlines and enhances the way shares of ROAD are up 300% YTD and are capable of much more.
Good Energy Group (GOOD), the 100% renewable electricity supplier and energy services provider, announced that it has entered into a conditional binding agreement to acquire Empower Energy Limited, a commercial focused solar installation company. The Board expects the Acquisition, coupled with the acquisition of Amelio Enterprises Limited on 4 October 2024, to be substantially earnings enhancing in FY25 and beyond. Good Energy will acquire 100% of the issued share capital of Empower on a debt-free, cash-free, basis for an initial consideration of £7.0 million. Good Energy also announced that, on 25 October 2024, it received an unsolicited indicative, non-binding proposal from Esyasoft Holding Limited relating to a possible offer for the entire issued and to be issued share capital of the Company.
Comment: Obviously, the Bulletin Board Heroes charting video has already been covering GOOD as a charting buy in recent days. The target by the end of next month was 335p. The price so far today is 372.5p. Who else does that? No one. So much for companies using generic “me too” platforms.
Kromek (KMK), a developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announced its final results and gives notice of the publication of its annual report for the year ended 30 April 2024. Achieved positive adjusted EBITDA of £3.1m (2023: £1.0m loss) ahead of market expectations. Loss before tax was reduced to £3.5m (2023: £7.3m loss).
Comment: Given how much the lay of the land is in favour of KMK, as we remain on the edge of WWIII, one would hope that going forward the there are no negative numbers in the key metrics.
CleanTech Lithium (CTL), an exploration and development company advancing sustainable lithium projects in Chile, update that the industrial forward osmosis unit has arrived and is being installed at the facilities of Condutive Energy in Chicago, USA, where concentrated eluate from the Company´s pilot plant will be converted into battery-grade lithium carbonate. This marks the final piece of equipment required for the downstream conversion process to begin. CLE said Using iFO has several benefits to the downstream conversion process, such as higher water recovery and lower energy consumption and CO2 emissions compared to using conventional thermal evaporators. This further enhances the potential environmental benefits and process efficiency that the Company aims to achieve in applying Direct Lithium Extraction to produce lithium from brine.
Comment: CTL reminds us again, if it were required how important DLE is, and how much of a lead this gives the company over the opposition.
Ondine Biomedical (OBI), the Canadian life sciences company pioneering light-activated antimicrobial treatments, announced that it has made significant progress with the commercial roll-out of its novel nasal decolonization technology, Steriwave®, in both Canada and the UK. In the UK, two of the largest NHS Trusts, King’s College Hospital NHS Trust and Leeds Teaching Hospitals NHS Trust, are initiating Steriwave treatment prior to surgery. Recently Ondine announced that has partnered with Mölnlycke Health Care. In Canada, Steriwave is being used routinely in five (half) of the country’s top 10 largest hospitals: Royal Alexandra (Alberta), The Ottawa Hospital – Civic Campus (Ontario), Vancouver General (BC), University of Alberta Hospital, and the Queen Elizabeth II Hospital (Nova Scotia).
Comment: OBI gives us a RNS which serves up something of a greatest hits of the progress it has made in recent months, and especially since its premium fundraise. The company is finally seeing its share price take off.
Ondo InsurTech (ONDO), a company in claims prevention technology for home insurers, announced that it has increased production capacity at its UK contract manufacturing facility in light of significant increasing demand for LeakBot, across the Company’s key markets but in particular in the United States. ONDO said it is great news that the UK facility will now be able to meet a significant increase in demand. Coming announcements about our partner-led U.S. expansion will clearly demonstrate why now is the right time add the second production line at Asteelflash.
Comment: ONDO quite rightly reminds us today that it is aware that capacity is key to the development of any growth company. It looks to be in a good place to meet demand from the key U.S. market.
CyanConnode (CYAN), a company in narrowband radio frequency mesh networks, announced that it has received a follow-on order with a value in excess of $1 million for cellular gateways in the Middle East and North Africa (MENA) region. This contract builds upon the initial MENA order for this project, which was announced by the Company on 4 August 2022. The full order is scheduled for delivery, with revenue also recognised, within this financial year, which ends on 31 March 2025.
Comment: CYAN continues to drive the contracts and market share in MENA, but remains somewhat hamstrung by the way that many in the small cap space still do not know the name of the company or what it does.
Catenai (CTAI), the AIM quoted provider of digital media and technology, provided an update on Klarian Ltd, a company in which Catenai had provided a £450,000 unsecured CLN. In the last couple of months, Klarian has raised approximately £660,000 at a pre-money valuation of approximately £10 million. Part of this was raised on its recent successful Crowd Cube campaign which brought new shareholders to Klarian. Klarian has advised that a significant shareholder, Mr Donald Ross, is expected to shortly be joining its board as a Non-Executive Director. Mr Ross invested in the recent round. Mr Ross was a senior VP at SLB (Schlumberger) (NYSE:SLB).
Comment: The quip here regarding the last RNS regarding CTAI / FTSE 100, may now fit in with the phrase many a truth being spoken in jest. The CLN to Klarian is arguably a great way to get exposure to a company that really could be in the FTSE 100.
Belluscura (BELL), a medical device developer focused on lightweight and portable oxygen enrichment technology, today provides a trading update. Further to the Interim Results announcement on 26 September 2024, which stated that Group revenue has continued to grow through 2024, revenue in the first nine months of the year was better than expected at $3.3m (unaudited) (Q1: $0.1m. Q2: $1.2m, Q3: $2.0m). BELL said it has received several debt funding proposals. Although the process has also taken longer than the Board anticipated at the time of the Interims, negotiation of the terms of new funding facilities with a prospective lender are at an advanced stage.
Sound Energy (SOU), the transition energy company, announced entry into an Exploration Collaboration Agreement with Getech Group Plc, a global leader in locating essential energy and mineral resources crucial for the energy transition. Pursuant to the Agreement, the parties will collaborate to seek to explore for natural hydrogen and helium in Morocco, with the initial phase of the Agreement comprising a joint regional screening study to identify areas of potential interest for more detailed assessment by the parties. SOU said with its established presence and operational expertise, combined with Getech’s innovative geoscience tools, it is well-positioned to lead the way in seeking to unlock Morocco’s hydrogen and helium potential.
Comment: Given that Helium and Hydrogen have now become the new Net Zero rock and roll, it can be said that SOU is right on the zeitgeist with this latest RNS, and should expect to get a decent re-rate off the back of it.
SigmaRoc (SRC), a European lime and minerals group, updated on trading for the nine months ended 30 September 2024. Revenue increased 67% YoY to £729m. Underlying EBITDA increased 88% YoY to £165m, with margin improving to 22.6%. SRC said the Group has delivered excellent results for the Period despite the current mixed landscape and is well positioned to benefit from improving market sentiment. Whilst remaining mindful of conditions in some of the Group’s markets, the strong Q3 performance, combined with its diversified end market exposure and decentralised operating model, gives the Board confidence in maintaining full year expectations.
Comment: A stunning performance from SRC which would have both sellers of hot cakes, and Class A drug dealers looking on in awe. This is made all the better by the way that as the company underlines, we have a “mixed” landscape.
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