MicroSalt (SALT), a company commercialising a patented technology to produce full-flavour low-sodium salt, continues to expand its reach of SaltMe! low sodium crisps with a new placement on Thrive Market, an e-commerce membership-based retailer offering natural and organic food products. SALT said it was extremely excited about the placement of its SaltMe! low sodium crisps on Thrive Market. Thrive Market is an extremely well-regarded and national e-commerce platform offering natural and organic food products to their members. With over 1.2 million members, they speak directly to consumer looking for healthier snack options. This new placement across three new United Natural Food Distribution Centres allows it the opportunity for additional retail distribution and new account placements.
Comment: Although one might not be sure whether your average crisp eater cares about calories, fat, or salt, it will be interesting to see whether SaltMe! Takes off on the Thrive Market.
Oberon Investments Group plc (AQSE: OBE), the boutique investment group, announced a trading update for the year ended 31 March 2024 (FY24), reporting a year of growth which has continued into the new financial year (FY25). OBE said it was pleased to report a year of considerable growth for Oberon, with revenues for the year expected to exceed £7.5 million, representing a year-on-year increase of more than 50% (2023: £5.0 million).
Comment: It would appear that OBE’s apparent strategy of hiring almost everyone who is or was anyone in the City (apart from myself) has paid off well, with the 50% rise in revenues stunning given the way that 2023 was a horror show for small caps.
Reabold Resources (RBD), the investing company focussed on developing strategic gas projects announced the results of the West Newton Gas Export Feasibility Study. RBD said the CNG Feasibility Study highlights the opportunity to unlock significant near-term value from the West Newton project through the early production plan. The study confirms that the early production plan is both technically robust and economically attractive with a low capex requirement. This phased development plan allows gas production to be brought to market within months of drilling.
Comment: After the distraction of not one, but two requisitions, RBD reminds us that West Newton is key to its fortunes, and with the sizzle of early production the current stock market valuation appears rather miserly.
First Class Metals (FCM) the UK listed metals exploration company, announced that it has completed the formal sale process of the McKellar & Enable properties to the Seventy Ninth Group Limited for a combined figure of £270,000. Coinciding with the sale process, FCM has entered into a twelve month loan of £230,000 with the 79th Group. FCM said it was pleased to announce the successful sale of McKellar & Enable properties for a total of £270,000. The sale along with further debt funding from the Seventy Ninth Group whilst they continue to conduct due diligence over other FCM properties is also most welcome. As previously mentioned in the 9 April 2024 news release, its aim is to foster a collaborative working relationship with the 79th Group, benefiting both parties.
Comment: It is clear that life has been tough for explorers over the past year, with cash being king. FCM has managed to negotiate this difficult environment, and presumably will be looking to sell more properties as it proves them up.
Ariana Resources (AAU), the AIM-listed mineral exploration and development company, announced the completion of a revised MRE of both Dokwe North and Dokwe Central, which now contain a combined 1.83Moz of gold. AAU said the latest Mineral Resource Estimate for the Dokwe Gold Project demonstrates the considerable upside potential of this substantial exploration and development opportunity. With a Global JORC 2012 Measured, Indicated and Inferred Resource of over 1.8Moz of gold across Dokwe North and Central, this represents a 40% uplift in resources from the previous estimate.
Comment: A 40% uplift in the MRE is certainly nothing to be sniffed at, and underlines the way that shares of AAU have been on the front foot, and seem set to continue in this manner.
Orcadian Energy (ORCA) announced that it has entered into a secured long term loan agreement with an industry partner. The Partner has agreed to loan Orcadian up to £1,150,000 for a period of two years. The loan is intended to be settled from the completion payment due under a proposed farm-in or joint venture arrangement on Orcadian’s recently offered SNS licence.
Comment: Today’s loan news should be the final financial piece of the jigsaw for ORCA, given that its settlement will occur once any licence deal is done. We should therefore see the stock jump from current levels near the low end of the range.
Yesterday, Power Metal Resources (POW), the London-listed exploration company with a global project portfolio, said that completion of the disposal of the Company’s 49.9% interest in New Ballarat Gold Corporation plc, which wholly owns Red Rock Australasia Pty Limited, the local operating company holding exploration interests in the Victoria Goldfields, Australia and in South Australia, will occur within five days of 11 June 2024. POW said the disposal enables the ownership of NBGC to be focused in one entity which is the optimal holding structure for its continual development. This also reflects the success of the streamlining process of the Power Metal portfolio, with the NBGC interest being converted into a balance sheet investment holding and additional incoming cash.
Comment: Although POW is clearly being helped by investee Golden Metal’s ballooning share price, the rejigging of its portfolio continues, something which is yet to be reflected in the market cap of the company.
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