Inflation falls to 2% and interest rates remain at 5.25%. We have never had such a premium to inflation on rates, something which the politically motivated Bank of England – in association with the Blob, is ensuring will be maintained until after the general election to undermine the government. Indeed, it is on a par with shorting gilts before the mini-budget. The risk is that this policy will actually take inflation into negative territory later in the year, along with all the mortgage pain yet to come.
Tap Global Group (AQUIS: TAP), the FinTech company bridging the gap between traditional finance and blockchain technology, announced the launch of its US service offering via the Company’s wholly owned subsidiary Tap Americas LLC. TAP said it was thrilled to have successfully launched its service offering in the United States, the largest global market for cryptocurrency trading. Launching in the US represents a significant milestone for the Company and is a testament to the dedication and expertise of the entire team who have worked tirelessly throughout the launch process to ensure it enters the country in the best position possible to support our long-term growth aspirations.
Comment: The wait was worth it, and one can say that if today’s news does not turn around the TAP share in a significant way, one would be very surprised indeed. The US market is the one to give the company the scale it has always promised.
Oracle Power (ORCP), an international project developer, announced that company geologists will be on site, this week, at the Blue Rock Valley Copper and Silver Project, located in the Ashburton Basin in the northwest region of Western Australia. ORCP said that assays from historical drilling and rock chip sampling suggests the presence of high-grade copper and silver mineralisation as well as the potential for uranium. Significant historical rock chip samples were collected in the vicinity of the Project area by Jackson Minerals Limited between 2007 and 2010 (WAMEX Report A079571) comprise.
Comment: ORCP has of late doubled down on its bite sized projects in Oz, something which is arguably more befitting of a company of its capability and resources.
Arrow Exploration (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provided an update on operational activity, particularly at the multi horizon, Carrizales Norte field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. AXL said the initial success of the first horizontal well at the CNB pad, which is currently exceeding expectations, is an important milestone in the development of the hydrocarbon-dense Ubaque formation. The horizontal technology proven by this well can now be used to exploit further prospects on the Tapir block, and potentially the Oso Pardo block.
Comment: A remarkably successful operator, with a still unbelievably cheap share price. One would expect this frustrating state of affairs to be resolved in a positive way during H2 2024 at the latest.
Power Metal Resources (POW), the London listed exploration company with a global project portfolio, confirm that further to the announcement of 12 June 2024, the disposal of the Company’s 49.9% interest in New Ballarat Gold Corporation, which wholly owns Red Rock Australasia Pty Limited, the local operating company holding exploration interests in the Victoria Goldfields, Australia and in South Australia, has now completed. Accordingly, the Company has been issued 166,666,667 new ordinary shares in Red Rock Resources (RRR), and now owns 3.87 per cent. of RRR. The Company has also been issued with a £250,000 convertible loan note and 100,000,000 warrants exercisable into RRR ordinary shares, for three years at a price of 0.15 pence per share.
Comment: Today’s confirmation is a decent reminder of how much CEO Sean Wade has done and is doing at POW since getting into the saddle. The shares are yet to fully reflect the good work done to date.
Powerhouse Energy Group (PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy, announced that the kiln (TCC – Thermal Conversion Chamber) has now been delivered and is in-situ at the Company’s Bridgend Technical centre. PHE said this is a huge milestone for Powerhouse and draws a line under its past vendor issues. The progress that the Powerhouse Team as a whole (PHE and Engsolve) have made in the last six months is exceptional. The progress on the technology centre and the FTU means that it can not only return to its goal of progressing our R&D activities, but this will provide it with a showcase for its patented technology allowing it to drive forward the rollout of our process.
Comment: The novelty of PHE actually doing things, and delivering on its strategy after years of flux has still not worn off. One would expect this ongoing culture shock to be reflected in an ongoing re-rate for the company.
IXICO (IXI), the precision analytics company delivering intelligent insights in neuroscience, announced that it has been contracted by a top five CRO on behalf of a new pharma client to provide its imaging biomarker services for a Phase 3 clinical trial for patients with a type of Parkinsonian disorder. The trial is due to run for just under 5 years and is worth in excess of £1m. IXI said following the new contract win announced on 23rd May in Alzheimer’s Disease, it is delighted to be announcing the award of a contract from a new client to support the development of a promising treatment targeting a Parkinsonian disorder.
Comment: A decent sized contract for a company engaging in very worthy medical causes. Almost worth buying the shares purely for this reason – in fact, it is.
SEED Innovations (SEED), the AIM-quoted investment company offering exposure to disruptive, high-growth, life sciences and technology ventures typically inaccessible to everyday investors, is pleased to announce its Final Results for the year ended 31 March 2024. Shares currently trading at c.70% discount to 31 March 2024 NAV. Strong cash position of approximately £3.9 million as at the date of this announcement (representing approximately the Company’s current market capitalisation).
Comment: Perhaps surprisingly, even the trendy Tik Tok face to camera videos have not prevented the shares trading at a 70% discount to NAV. Although perhaps without them there would have been even more of a discount. Given that the company is sitting on £3.9m in cash, the recent share buyback should have been much more aggressive.
Electric Guitar (ELEG), the digital marketing and advertising company providing first-party data solutions, announced that 3radical Limited, its primary operating subsidiary, has agreed a strategic collaboration with Digital Alchemy to help drive client acquisition and engagement. ELEG said it was thrilled to be collaborating with Digital Alchemy. Its expertise in marketing automation, combined with its strategic partnerships, particularly in Asia-Pacific, enables it to offer even more powerful and engaging solutions to its clients. This collaboration marks an important step in its mission to build a global technology business focused on first-party data.
Comment: Given the strong newsflow at ELEG since it came to market some weeks ago, one would imagine that the share price will rebound soon, once the weak hands / bedwetters have left the party.
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