Helix Exploration (HEX), the helium exploration and development company, announced it has signed an agreement with Petroleum Consultants, LLC. HEX said it was pleased to announce the commencement of its appraisal well programme through a strategic partnership with Petroleum Consultants, headquartered in Billings, Montana. The company is committed to delivering an aggressive operational timeline with drilling targeted for Q3 of this year. Helix are dedicated to providing regular updates to its stakeholders as the Project unfolds, including the finalisation of a drilling contract with a rig supplier.
Comment: Just days after listing, HEX underlines that it is a company in a hurry and that being anywhere near its IPO price already appears something of an aberration.
European Green Transition (EGT), a company developing green economy assets in Europe, updated on certain developments relating to its principal asset, the Olserum Rare Earth Project in Sweden. EGT said it welcomed the approval for its drilling programme at its principal asset, the Olserum Rare Earth Project, which is a key step on the project development timeline. Olserum was designated a project of National Interest by the Swedish Geological Survey and has the potential to become a significant European Rare Earth Element (REE) resource.
Comment: As in the case of fellow stock market newbie Helix Exploration (HEX), EGT is hitting the ground running in terms of delivering swift, significant newsflow. This is also rather pleasingly already being reflected in the share price.
Ondine Biomedical (OBI), the Canadian life sciences company, announces that an independent study undertaken at the world renowned Mazankowski Alberta Heart Institute demonstrated a 32% reduction in cardiac surgical site infections (SSIs) following the implementation of Steriwave as a replacement for the antibiotic Mupirocin. Dr. Stephanie Smith, Director of Hospital Infection Prevention and Control at the University of Alberta Hospital and the Mazankowski Alberta Heart Institute, commented: “We are very pleased to be able to share these initial results from the Steriwave pilot. To see a reduction in SSIs in excess of the already low rate we had when using Mupirocin is fantastic, particularly as many hospitals are looking to reduce their use of Mupirocin because of challenges with compliance and concerns about antibiotic resistance.”
Comment: We have further evidence, as if we needed it, of the merits of Steriwave, with the expectation that the market will catch up with this reality, in what is a game changing technology.
Hercules Site Services (HERC), a technology enabled labour supply company, announced that it has joined the UK-wide labour framework of Costain Ltd, after a successful tender process. HERC said it was delighted to further cement our relationship with Costain. It has been working together on a project-by-project basis for over a decade. This agreement between our companies means Hercules has the potential to work across all of Costain’s projects and sectors beyond highways and water, where it is currently partnered.
Comment: The market still does not realise the significance of the position that HERC is in its space, rubbing shoulders with the largest players in the sector, but not yet with the valuation that should go with this.
Cyanconnode (CYAN) reported an order from a new client in Indian for 265,331 Omnimesh modules, which does, ‘moderately’ build the roll-out momentum. The client is a utility in Lucknow, India and is the fifth order received under a Strategic Framework Agreement, signed in February 2023. This order takes the cumulative pipeline for India to 6.6m Omnimesh modules, of which 2.8m should be delivered by the end of the year. There is a 7.5-year support and maintenance contract after the go-live stage. The interims to September 2023, reported a reduced operating loss of £2.2m with turnover of £5.8m and gross margins at 33% with improving prospects. The last funding was in November for £2.5m at 10p to support ‘significant’ growth.
Comment: The shares at 7.75p with a £25m mkt cap are just of a 52-week low and the ‘steady’ growth seems worth supporting.
GreenRoc Mining (GROC), a company focused on the development of critical mineral projects in Greenland, announced the receipt of a LOI from the Export-Import Bank of the United States. GROC said this LOI from US EXIM Bank represents a strong show of support for its Amitsoq project from one of the key financing bodies of the US Government. A successful application for up to US$3.5m of funding would allow it to undertake extensive and costly parts of its work programme over the coming couple of years and to achieve important milestones such as the PFS and DFS and the processing of large bulk samples of graphite ore, all of which are critical paths to production.
Comment: Rather like the situation at Golden Metal (GMET), GROC could be a beneficiary of the need for the US to wean itself off Chinese dependency, and therefore the company could be a winner as far as this land grab.
Hydrogen Utopia International (HUI), a company specialising in converting non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, shared an update on the significant progress and achievements made at Ohrid Organics DOO. HUI said whilst it is considering other opportunities, Ohrid Organics UK remains a very attractive option. Ohrid Organics North Macedonia could be a great partner on its path of achieving the building of the first waste plastic to hydrogen facility.
Comment: The present position at HUI should be a win-win for shareholders: either the company benefits from the significant revenues of Ohrid, or the reverse takeover with Helmond. It is rare that a company offers two equally bright scenarios to the market.
All Active Asset Cap said John Hardbattle has today been appointed to the Board of AAA as an Independent Non-Executive Director. AAA said John’s appointment comes at a key time for AAA following last week’s placing and proposed new investment in Sentiance. His appointment reflects its increased confidence in the future; his skills and experience strengthen the Company’s corporate governance and will help guide its business strategy.
Comment: It should be the case that after a somewhat long and winding road, the new investment in Sentiance will finally return AAA to the dizzy heights it had when it was listed. This is especially so given how much the AI space has moved on since that time.
Neo Energy Metals (NEO), the near term, low-cost uranium developer, announced that it has appointed Pretoria-based Erudite Strategies to compile an updated Order of Magnitude Capex and Opex estimate for Neo Energy’s Henkries Uranium Project in South Africa. NEO said Henkries is one of the few projects globally poised to commence production in the near term. Accordingly, it looks forward to incorporating the updated estimates provided by Erudite into its financial models within an updated feasibility study ahead of paving the way for strategic development.
Comment: An update to Henkries is just what the market needs to fully appreciate the NEO investment case, and one would expect the shares to begin a re-rate ahead of what Erudite delivers.
Fusion Antibodies (FAB), specialists in pre-clinical antibody discovery, announced that it has entered into a commercial contract to develop a bespoke OptiPhageTM library for a non-human antibody species with a leading global provider of antibodies for use in research and diagnostics. FAB said this is its first OptiPhageTM library project and represents a milestone for the business on its technology development roadmap. Reaching this agreement with one of the leading providers in their field is hugely exciting for Fusion. It reinforces the value to the wider commercial world of Fusion’s technologies.
Comment: Those looking for FAB to deliver a turnaround have had to be patient, rather more than they may have bargained for. But it does look as though the company is slowly getting there.
Cooks Coffee Company (AQUIS:COOK), the international coffee focused café chain, provided a trading update covering the Company’s Esquires branded franchised coffee focused stores in the UK & Ireland for the financial year ended 31 March 2024. COOK said it was delighted with the sales growth within its current coffee store locations and with the performance of the new stores. FY24 has witnessed the Company setting new records and this success reflects the dedication of its extended team of shareholders, directors, franchisees, regional developers, and Company staff and most importantly the support from its valued customers.
Comment: One of the few stocks on Aquis with a real business which has growth potential, it appears that not only that people will always need to drink coffee, they enjoying doing thins with Cooks.
EnergyPathways (EPP), a company developing integrated energy solutions, updated regarding operational and strategic progress as it seeks to deliver clean, home-grown energy for Britain through follow-up gas development and energy integration growth at its wholly owned and operated Marram gas project. EPP said it was pleased to report on positive progress with regard to the decarbonised development concepts that underpin its FEED studies for the Marram Project and the follow-on developments targeted by the Company. It is also making good progress with all the various workstreams that comprise the FEED process, as it seeks to deliver the fast-track development of its high-value and strategically important Marram Project.
Comment: There was something of a hiatus from EPP in the immediate aftermath of its listing, something which was reflected in the share price. Ideally, the latest RNS suggesting a speeding up of newsflow will enable a turnaround in sentiment and market cap.
Corcel (CRCL), the Angolan focused exploration and production company announced an update to Tobias Field reactivation activities in Block KON-11 in the Kwanza Basin, onshore Angola, where the Company has a 20% working interest (18% net). The Operator is Sonangol, one of the largest hydrocarbon producers in Angola. CRCL said that with TO-13 testing shortly to commence, it will soon have an additional data set to aid in its efforts to both produce commercial oil in the short term and to reactivate and build out the Tobias field over the longer term. The Company and its technical team remain buoyant regarding the ongoing potential of its Angolan interests in the Kwanza Basin.
Comment: While the CRCL says it remains buoyant, it will take some work to reverse the share price rug pull we have seen over the past month, something which is all the more disappointing given the stellar start to the year.
Blencowe Resources (BRES) reported significant progress on the DFS works for the 100%-owned Orom-Cross graphite project in Uganda including commencement of the 600 tonne bulk sample test work at the Jilin Huiyang New Material Technology Company Ltd facility in China. BRES said it is making significant progress across all DFS objectives. Orom-Cross is a world class graphite project with unique characteristics, and its potential is becoming increasingly evident as it delivers each milestone.
Comment: It may be the case that this month is the one where the market finally appreciates that BRES is sitting on a world class graphite project, and that it is ready to move its milestones long at an accelerated rate. The share price is certainly hinting at such a prospect.
Kavango Resources (KAV), the Southern Africa focussed metals exploration company, announced the first assay results from the Hillside Prospect 4 gold project in Matabeleland, southern Zimbabwe. KAV said this result far surpasses our expectations at Prospect 4. Prospect 4 is our fourth-ranked target at Hillside. These results underline the Hillside Project’s overall potential to host over 1 million ounces of mineable gold.
Comment: Once again KAV shows itself to be one of the premier junior exploration companies, with the potential of scale, underpinned by its well funded status – something which is all too rare.
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