Even though optimists / Labour supporters, might suggest that the Budget’s effect on the stock market was either priced in, or not as bad as expected, the bottom line is that there was nothing positive apart from for those companies exposed to the public sector gravy train, or the Net Zero money burning machine. The FTSE 100 opening down 0.5% may be used as evidence.
Georgina Energy (GEX) announced the progression of seismic data reprocessing and a comprehensive review of the resource potential for the Mt Winter Prospect within EPA 155, Northern Territory. GEX said in line with our strategy to achieve positive outcomes through well re-development, the reprocessed seismic data for Mt Winter will provide new and more accurate seismic contouring and profile mapping of the permit area within the Amadeus Basin. Peer group volumetric comparisons are overwhelmingly positive in favour of Georgina. Georgina remains focused on re-entering both the Hussar and Mt Winter wells as part of its program to develop low-risk helium, hydrogen and natural gas projects in Australia.
GEX also presented its unaudited financial statements for the 6 months ended 31 July 2024. GEX said that in the 3 months since relisting, it has been actively pursuing its agenda set out in the Prospectus dated 11 July 2024. It aims to become a leading player in the global energy market and is focused on establishing itself among the top producers of helium and hydrogen worldwide. With a strategic approach and leveraging the experienced management team’s expertise, Georgina Energy aims to capitalize on opportunities in these critical energy sectors.
Comment: One can see that on an operational level GEX has not and is not being blown off course by those making “false and misleading statements damaging to both investors and the market”. Indeed, unlike most small caps it is standing up for itself, something which most companies do not have either the gumption or the resources to do. This level of grit should serve GEX well as it re-enters Hussar and Mt Winter in a timeframe and at a share price which is attractive given the potential upside.
Artemis Resources (ARV) provide an update on drilling at the 100% owned Lulu Creek prospect in the Pilbara region of Western Australia. ARV said it was delighted that drilling has commenced at the Lulu Creek gold prospect. While it was excited to see the results from this program, drilling at Lulu Creek is only the beginning in a series of exploration initiatives to test the prospectivity of its tenements which extend 20km along a major east-west structural corridor with numerous surface gold occurrences. With several other compelling targets already identified along this structural corridor which is only lightly explored, the future looks bright for exploration success.
Comment: Given the operational progress here, and the prospects, it is perhaps a tad unfair that shares of ARV continue to be blocked by their 200 day moving average currently at 0.75p.
Guardian Metal Resources (GMET), a strategic development and mineral exploration company focused in Nevada, USA, announced that it has entered into a binding letter of intent with Hinkinite Resources LLC to acquire an option for the acquisition of the Tempiute Tungsten Mine & Mill. GMET said that in the three years since the Company acquired the Pilot Mountain project, the Guardian team has spent countless hours building its knowledge in the tungsten sector, and forging key relationships across both the U.S. and globally. Through this, it has come to the conclusion that the macro setup for this key defence metal warrants our investment decision to gain more exposure to this critical commodity.
Comment: GMET has done brilliantly to see its shares up 175% so far this year, given the London market’s general aversion to explorers. One would imagine that the announcement of non-dilutive U.S. grants anytime soon would deliver a fresh share price surge.
Good Life Plus (AQSE: GDLF), a luxury prize draw and rewards innovator, announced its unaudited interim results for the six months ended 31 July 2024. GDLF said it was showing strong financial and operational progress. Significant developments post-period have further bolstered the Group’s growth trajectory, including a landmark partnership and successful capital raises. It has achieved circa. £330,000 in monthly recurring revenue (MRR), an increase of nearly 120% since the year end, driven by a scalable subscription-based model and growing market demand. The active subscriber base grew to over 37,000 by 31 July 2024 and has since exceeded 40,000.
Comment: GDLF has done well to attain a £17m market cap, and get away its recent capital raises. Perhaps the next metric to look forward to here would be hitting the 100,000 active subscriber number.
Jubilee Metals (JLP) announced the appointment of Jonathan (Jonny) Morley-Kirk as Board Director. Additionally, the Company confirms the appointment of Dr Reuel Khoza as a Board Director, following the announcement made on 19 September 2024. Both appointments are effective immediately. Morley-Kirk has also been appointed as the interim Finance Director of the Company, effective immediately, until a new Group CFO is appointed.
Comment: It is pleasing to see that “Jonny” has joined the board of JLP, as he is clearly a long standing professional listed company director. He arrives at JLP at an opportune time, for getting the company the re-rate it deserves.
Mosman Oil and Gas Limited (MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announced its final results for the year ended 30 June 2024. MSMN said It has been a significant year for the company as it delivered on its corporate plan to turn our focus towards helium opportunities. This pivot has been made possible by the hard work of the team who have now built a strong foundation upon which it can now grow the business and capitalise on the exciting opportunities ahead of it.
Comment: MSMN has clearly benefitted from becoming the London market’s more hot small cap plays, and one would imagine that many of the speculators are currently expecting a return to the recent share price highs, purely for this reason.
Prospex Energy (PXEN), the AIM quoted investment company focused on European gas and power projects, provide an update from the Selva Malvezzi production concession in Italy following the publication by Po Valley Energy Limited of its Q3 2024 activity report. Po Valley Operations Pty Limited, a wholly owned subsidiary of PVE is the operator of the Selva Malvezzi production concession, which has a 63% working interest, while Prospex has the remaining 37% working interest. PXEN said it was very pleased to report that Po Valley Energy, the operator of its Selva Malvezzi Production Concession continues with sound and reliable operations ensuring consistent and increasing income from the concession as gas prices in Europe continue to rise.
Comment: With gas prices providing a supportive backdrop, and Po Valley delivering, one would imagine that shares of PXEN are ready to head back towards July highs in the 9p region in coming weeks.
Author
