Yesterday Capital Metals (CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka, announced its unaudited results for the six month period ended 30 September 2024. The company’s focus on reducing Stage 1 capex whilst expediting cashflow has resulted in estimated capex falling by one-third to $20.9 million, with further optimisation opportunities identified for potential cost reductions.
Comment: The market has still not factored in the big cost reduction win at CMET, especially in terms of the share price. The prospect of the company announcing further savings should be supportive of the stock near term.
Metals One (MET1), which is advancing strategic minerals projects in Finland and Norway, announced that the Company’s Råna Project (nickel, copper, cobalt) partner and operator, Kingsrose Mining, has received all analytical results from the 2024 core drilling programme at the project, where a total of 706m was drilled across three holes at the Rånbogen prospect. MET1 said it’s great to report that Kingsrose has identified yet another new zone of nickel-copper mineralisation at the Råna Project associated with an extensive conductive geophysical anomaly. The 2024 work programme has further demonstrated the prospectivity and scalability of the Råna Project, and it looks forward to discussing with its partner the most appropriate next steps for the project which still remains largely underexplored.
Comment: MET1 continues to progress its Råna Project, and given that it is largely unexplored, the upside in terms of scalability should be enough to encourage the market, especially from current share price levels.
Tap Global Group (AQSE: TAP), the FinTech company bridging the gap between traditional finance and blockchain technology, announced the introduction of its XTP token locking feature for UK customers following a comprehensive regulatory review. This is further to the commercial agreement with Tap N Go that launched the XTP Cashback Programme, announced on 1 July 2024. TAP said this enhancement to its product suite allows customers to demonstrate their long-term commitment to the Tap ecosystem while enjoying enhanced platform benefits. The UK is a very active crypto trading market and this feature makes our platform even more attractive as it looks to win over more UK customers and make holding assets on the Tap platform a compelling proposition.
Comment: Given the way that the Bitcoin price is up some 50% in recent weeks, the 200% rise in TAP shares is welcome. However, it is barely up on 2024 to date, and therefore more initiatives such as today are needed, as are communications with present and potential investors.
Coinsilium Group Limited (AQSE: COIN), the Web3 investor, advisor, and venture builder, provided a comprehensive update on its portfolio of Web3 investments, advisory services, and venture initiatives. COIN said it was highly optimistic about the progress Otomato is making and its fast-track route to development. As a project that is both timely and highly synergistic, Otomato is well-aligned with the accelerated pace of innovation within the Web3 and AI-driven automation sectors. Coinsilium’s investment at this very early stage, secured at a low valuation, provides substantial upside potential, further supported by the strength of our strategic relationship and the expertise it brings to the table.
Comment: Shares of COIN have more than doubled in the past month in line with the rise in cryptocurrency, however the company reminds us today that it is much more than a play on Bitcoin with Web3 being at the vanguard of its initiatives.
Incanthera (AQSE:INC), the company focused on innovative technologies in dermatology and oncology, presented its interim results for the six months ended 30 September 2024. INC said that following the period end, the Company announced on 26 November 2024 that it had received unsupported allegations from a third party, concerning a potential patent infringement in relation to the formulation of the Skin + Cell range of products. The Company considers the unsupported allegations to be without merit and is resolute in its commitment to a conclusion. The Board of the Company remains confident for the future launch of its products and will continue to update the market, at its earliest opportunity.
Comment: After the bolt from the blue regarding alleged patent infringements last month, there is a ray of light from INC in terms of being able to shake this off. This could deliver a near term rally for the stock.
Oberon Investments Group plc (AQSE: OBE), the boutique investment management, wealth planning and corporate broking group, announced its unaudited results for the six months ended 30 September 2024. OBE said that driven by growth from all three divisions, revenues up by 74% to £4.8m (HY24: £2.7m adjusted for subsidiary. Improvement in EBITDA loss in line with growth business model at £0.96m (HY24: £1.60m), despite up-front costs of new teams (prior to recognising their revenue). Current trading on track to surpass its target to deliver 30% like for like growth in this financial year.
Comment: OBE’s performance would be impressive enough in its own right, but given stock market conditions, especially in the past quarter, it can be seen that the group’s strategy is paying off.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, provided an update on funding and operations on the State 36-2R LNW-CC well at the Company’s flagship project in the Paradox Basin, Utah, U.S. ZPHR said it was now moving ahead with all operational activity required ahead of drilling, including preparations at site and the finalisation of the rig contract, and looks forward to the commencement of full drilling operations early in the new year. It plans to update the market regularly during the anticipated active start to 2025.
Comment: After seeing its shares more than half since the bring, it would appear that ZPHR is ending 2024 on a rather more firm footing, as it flags the prospect of full drilling operations.
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