Pulsar Helium (PLSR), the helium project development company, provided an operational update on the Topaz Project in Minnesota, where site improvements have now been completed, paving the way for a step forward in the Company’s helium exploration and production strategy. PLSR said deepening Jetstream #1 is an exciting step forward for Pulsar. Its team has worked tirelessly to progress operations at Topaz, so we can fully understand its scale. Only one well has been drilled within the prospect, which has not yet met target depth, but has flowed concentrations that are considered very high by global standards, significantly surpassing the commonly accepted economic viability threshold. During the deeper drilling phase, it hopes to build on this, and unlock a helium resource of size and quality, to advance a goal to become a premier helium supplier.
Comment: PLSR has arrived at the AIM market at an opportune time given that we are in the run up to the bigger reveal at Jetstream #1, something which has already been transformational for the company, and is set to re-rate it much more going into 2025.
Ananda Developments (AQSE: ANA), a Company focused on the development of CBD based therapies for the treatment of a range of complex inflammatory pain conditions, announced that it will be presenting at the Aquis Stock Exchange Showcase on Tuesday 12th November in London, at the Royal College of Surgeons, WC2A 3PE. Finance Director Jeremy Sturgess-Smith will deliver an eight-minute pitch, followed by a rapid-fire Q&A session to a live investor audience.
Comment: In the wake of the recent interim results, and with progress regarding MRX1, MRX2 and MRX2T, especially with regard to the NHS trials, there is plenty for ANA to discuss at the forthcoming event.
Rome Resources (RMR), the DRC-focused tin explorer, announced that, Klaus Eckhof has been appointed as a director to the board of Rome Resources and has commenced his role as Non-Executive Chairman. In addition, in line with the Company’s announcement on 30 September 2024, Mark Gasson has formally commenced his new role as Chief Operating Officer on the Board. Eckhof said it was delighted to be joining the Board at this exciting time for the business. It looks forward to using my deep experience and expertise in both the DRC and in mineral exploration, including in particular for tin and copper, as it continues to explore the exciting Bisie North Tin Project.
Comment: With someone of the track record and competency of Klaus Eckhof on the board, we should see RMR continue its recent re-rate, especially as more on Bisie North Tin is revealed in the near future.
EnSilica (ENSI), a chip maker of mixed signal ASICs (Application Specific Integrated Circuits), announce that it has secured a new debt facility to refinance its existing external loan facilities, providing total funding of up to £9 million and extending out to November 2029. The Facility with Lloyds Bank consists of a three-year £3 million repayment term loan facility and a five-year £3 million revolving credit facility with an accordion option for an additional £3 million subject to credit approval by the lender.
Comment: If we were in proper stock market conditions, and indeed, had a proper stock market that does not just bow and scrape to the powers that be (as in the wake of the Budget), it could have been the case that ENSI could have raised £9m from the market, rather than going to a High Street bank.
Helium One Global (HE1), the primary helium explorer in Tanzania, is pleased to provide the following update on the farm-in agreement with Blue Star Helium (ASX: BNL) over the Galactica-Pegasus project in Las Animas County, Colorado, USA. Farm-in agreement with Blue Star successfully completed, following satisfaction of all conditions precedent. The Company to earn a 50% interest in the Galactica Project in exchange for paying US$1.5 million cash consideration and to fund the drilling of six development wells. Blue Star remains Operator of the project.
Comment: It is good to see HE1 making such good progress in Colorado, with a decent chance of returning shareholders a fraction of all the tens of millions of pounds raised for the company’s Tanzania activities.
Futura Medical (FUM), the consumer healthcare company behind Eroxon®, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, updated on two successfully completed proof of concept studies in its new product development pipeline for the treatment of sexual dysfunction in men and women. FUM said it has already made significant strides following the launch of Eroxon® internationally, including in the US in October 2024, delivering its maiden profit in FY24. In a prudent manner, it is now looking to expand its range especially within the underserved clinically proven treatments for women with sexual dysfunction, whilst continuing to focus on the rollout of Eroxon® across various geographical markets.
Comment: It may be that going into the women’s market will give FUM the boost to its valuation that so far the male market has not quite delivered.
Clean Power (CPH2), the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser, announced that it has entered into a Licence Agreement with Lisheen H2 Energy Park Limited, which trades under the name Hidrigin. In addition to signing the License Agreement, the parties have entered into a Sales Contract for the delivery of a 1MW MFE220 electrolyser unit by CPH2.
Comment: Even in current dull stock market conditions, today’s RNS is enough to get CPH2 a decent start to the day. A breakout through 75p could get the stock back up to 2 year resistance at 90p plus by the end of the year.
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