Phoenix Copper (PXC), the AIM-quoted USA-focused base and precious metals company, announced that Paul de Gruchy has been appointed as Vice President of Investor Relations with immediate effect and will also become a member of the Advisory Board, having served Phoenix in a supporting investor relations capacity for the past two years.
Comment: With its recent funding news under its belt, it is only correct that someone of the stature and experience of de Gruchy is given a prominent role in driving the PXC message across to investors.
Centaur Media (CAU) report interims to June with an 8% reduction in revenue to £16.5m and a 42% fall in PAT to £1.1m. It’s maintaining its 0.6p dividend and there is net cash of £8.9m. This international provider of business intelligence, learning and specialist consultancy transformed in 2019 by selling 21 brands for £16.3m. The funds are build, Invest and Grow on key sectors and there was a good performance from these future growth drivers. The four brands are MW Mini MBA, Marketing Week and The Lawyer, which combined account for 90% of the revenue. The investment will gather pace in H2 with accelerated product development, marketing and digital capabilities. This organic growth is also set to be supplemented with M&A, as there is a £10m undrawn Revolving Credit Facility (RCF). The focus is on the higher quality revenue streams of premium content, training and advisory which is valuable repeat and recurring revenues. The top three shareholders own over 50% , Harwood Capital 28.8%. Aberforth, 23.9% and Hearld 7.3%. The Interims did not mention the preliminary expression of interest from Waterland Private Equity Investments, so we wont!
Comment: (Jon Lev): At 37.5p the Mkt cap is £54.3m its not dear and is placed to delivery the accelerated growth
CAP-XX (CPX), a company involved in the design and manufacture of supercapacitors and energy management systems, announced the signing of a MOU with the National University of Singapore’s Institute for Functional Intelligent Materials to foster collaborative research and development efforts in the field of new technology and substrates. CPX said this MOU with NUS I-FIM marks a significant milestone in its journey towards pioneering advanced technologies. By combining its practical industry experience with the institute’s academic prowess, it is poised to make ground-breaking advancements that will benefit a wide range of sectors.
Comment: Shares of CPX more than quadrupled trough to peak during their June – July recovery. Bulls of the stock will be hoping that today’s news will re-activate the rally.
Shield Therapeutics (STX), a commercial stage pharmaceutical company, announced a Q2 2024 trading update highlighting a strong recovery in U.S. ACCRUFeR® growth. Shield delivered stand-out sequential ACCRUFeR® revenue growth results of 69% in Q2 2024, driven by robust increases in prescriptions, up 26% along with a 23% increase in average net selling price per prescription. This has resulted in total H1 2024 ACCRUFeR® revenues of $11 million (unaudited) and total prescriptions to 65,200, which represent significant increases of ~250% and ~160% respectively compared to H1 2023. STX said as it reflects on the first full year of the Shield/Viatris launch of its expanded field force, it was pleased that the market has responded in such a positive way to its efforts to increase physician awareness and adoption of ACCRUFeR®. This fortifies its continued belief the market potential of ACCRUFeR® is significant. It is committed to delivering further ACCRUFeR® growth making it the oral iron of choice for patients with iron deficiency, with or without anemia.
Comment: Shares of STX are slowly trying to regroup after the big February breakdown. However, it will take a lot more soothing RNS updates such as today’s in order for the stock to recapture its former glory.
Cykel AI (CYK), a company involved in AI automation solutions, announced a strategic partnership with SHIFT, a community of 300+ fintech leaders representing companies with a combined market cap of over £1.2 billion. CYK said this partnership with SHIFT is a significant milestone in its go-to-market strategy. It not only validates its technology but also provides it with direct access to decision-makers in the fintech sector, a key target market valued at $245 billion globally.
Comment: There are some signs that CYK shares are ready to head into double figures. It would help if more in the market understood the detail on what the company actually does.
88 Energy (88E) announced that the 2D seismic data acquisition program for PEL 93 over the Owambo Basin, Namibia, has been completed on time and within budget with no recordable safety incidents. 88E said results from the new 2D seismic data will be integrated with existing historical exploration data to refine current prospect interpretation. Determination of the size and quality of a number of the Damara fold structures that are expected to be present in PEL 93 is the key purpose of the program; this work will form the basis for an independent Certified Prospective Resource assessment. This will allow for more accurate drilling location identification and enable planning for potential future drilling events.
Comment: Shares of 88E have had the wind knocked out of them since the spring. It will certainly take a lot to reverse the breakdown since then, today’s news notwithstanding.
Bezant Resources (BZT) announced it has signed a non-binding letter of LOI to enter into a partnership between the Company and both CrossBoundary Energy Management and Eversolar Pty Ltd for the provision of a renewable and/or hybrid solar energy supply for the Hope & Gorob Copper – Gold Project in which Bezant holds a 70% interest. BZT said it was delighted to be working with two leaders in the renewable energy sector and the ability of CrossBoundary Energy and Eversolar to construct a renewable solution that incorporates both production sites is a major gain in terms of cost reduction over the life of mine and a reduction in emissions.
Comment: Shares of BZT have been attempting a recovery in recent weeks. The key here will be a potential break of the 200 day moving average, just above current levels, which the stock has not conquered since early 2022.
First Class Metals (FCM) the UK listed company focused on the discovery of economic metal deposits across its strategic exploration footprint in Ontario, Canada, provided an exploration update. Following a detailed technical review, the Company has upgraded the Dead Otter trend within its 100% owned North Hemlo Property to high profile target status and has immediately launched the next stage and a potentially significant impact exploration programme. FCM said the continued exploration work on the Dead Otter trend is potentially transformational insomuch that positive results have the ability to catapult the structure along the Dead Otter Trend into ‘new discovery’ status. The North Hemlo property and its gold endowment forms the spearhead of its current exploration campaign.
Comment: Now that shares of FCM have finally turned around, every update such as today’s magnify the recovery and change of investor sentiment. Above the stock’s 200 day moving average at 4.4p the shares may be capable of heading back up to initial 2024 resistance at 7p.
Mkango Resources (MKA) provided an update on the commissioning of the short-loop rare earth magnet recycling and manufacturing plant at Tyseley Energy Park in Birmingham, UK. MKA said it was excited to see the Tyseley development progressing towards commercial production, which will underpin the international roll-out of HPMS technology into Germany, USA and other jurisdictions such as Japan. Rare earth magnet recycling is a core focus for Mkango and it is well positioned given its early move into the sector in January 2020 when it initially invested in HyProMag.
Comment: With MKA shares now at 4 year lows, the sooner the company gets to commercial production at Tyseley, the better.
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