CleanTech Lithium (CTL), an exploration and development company, advancing sustainable lithium projects in Chile, inaugurated its Direct Lithium Extraction (DLE) pilot plant in the city of Copiapó, Atacama Region, on Thursday 23rd May 2024. The ceremony was attended by authorities, business representatives, community members, and academics. CTL said it was extremely proud to inaugurate its DLE pilot plant. The start of its plant’s operations is concrete evidence of its commitment to Chile and the Atacama region to advance sustainable lithium production, preparing to meet the international markets’ demand for battery-grade lithium, and adhering to the conditions established in the National Lithium Strategy by the Chilean Government. It is nearing the point of becoming one of the first DLE-based companies in Chile to produce battery-grade lithium carbonate.
Comment: Funnily enough, after the market’s alleged concerns regarding the Lithium Strategy et al, things are progressing well and arguably rather faster than expected on the road to production. The share price should react accordingly through the summer.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, announced the receipt of additional grant funding from the U.S. Department of Energy for upcoming operations on the State 36-2R LNW-CC well at its project in the Paradox Basin, Utah. The Company also provided a further update on current drilling operations on the State 36-2R well. ZPHR said it was incredibly grateful to the DOE and its Utah research partners for their ongoing support, both financially and in terms of its broader collaboration as it jointly seeks to understand and optimise the full potential of the Paradox project.
Comment: ZPHR certainly appears to have cracked it on the grant funding front, something we are looking for Golden Metal Resources (GMET) to do imminently. In the meantime shares of ZPHR are already up nearly 100% year to date, and one would expect much more off the back of news such as today’s.
Kromek (KMK), a developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, updated on trading for the 12-month period ended 30 April 2024. KMK said it was experiencing improvements in its gross margin due to the product mix sold. The Group continues to exert tight cost control whilst driving further operational efficiencies, particularly within its advanced imaging manufacturing process. Consequently, Kromek expects to report positive EBITDA for FY 2024, and ahead of market expectations.
Comment: Given that we are already in World War III, one would expect KMK to be making money hand over fist. There would appear to be a decent opportunity here until the Nuclear Winter arrives.
Cornish Metals (CUSN), reported that it has filed a technical report pursuant to National Instrument 43-101 – Standards for Disclosure for Mineral Projects for its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom under Cornish Metals’ profile on Sedar+.
Comment: We look forward to a permanent CEO asap. Quite logically it should be the interim incumbent, Ken Armstrong…
Silverbullet (SBDS), a provider of AI driven digital transformation services and products, announced its audited results for the year ended 31 December 2023. Group revenue increased 44% to £8.36m (2022: £5.82m). Services revenue increased 29% to £5.55m (2022: £4.30m). Reported Loss before tax £3.45m. SBDS said its post-period end highlights paint a promising picture, with total bookings at approximately £6.2m and a robust pipeline exceeding £4m. With its sights set on achieving an EBITDA positive run rate entering the second half of the year and positive operating cashflow in the current financial year.
Comment: SBDS looks to be in a happy place in terms of being on the road to being EDITDA positive. It is a shame more in the market are not familiar with the company’s AI driven story.
Thor Explorations (THX) provided an operational and financial review for its Segilola Gold mine, located in Nigeria, and for the Company’s mineral exploration properties located in Nigeria and Senegal for the three months to March 31, 2024. THX said it was pleased with its performance during the first quarter of 2024 where we completed an improved operational and financially profitable period which included a material paydown of its senior debt facility. The main operating units continue to perform better than expected and operate above capacity. It expects this to continue through to the end of the year and as such, its guidance remains unchanged, between 95,000 and 100,000 ounces for the year.
SYS Group (SYS) following April’s positive trading update, it announced a strategic partnership with a £3billion company Softcat PLC. Revenues in this provider of managed cloud, data and security services to power Artificial Intelligence and Machine Learning transformation, increased 5% to £22.7m with an EBITDA of £2m a bit lower than last year’s £2.2m. The Softcat partnership endorses SYS and will help ongoing engagement with a prominent independent pension and investment management firm and a tangible benefit of this partnership. After an acquisition the net debt of around £1.3m and the finals to March 2024 are expected June.
Comment: At 31p with a £15.1m mkt cap, business is improving, and a funding would help accelerate organic growth.
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