Skip to main content

Your stock market edge

Premier African Minerals (PREM) announced that following strong institutional interest following the funding announced on 11 April 2024, the Company has agreed to to raise approximately £1 million at the same issue price of 0.17 pence per new ordinary share primarily for the Zulu Lithium and Tantalum Project.

Comment: As stated yesterday, it would be good to know what quantum of cash PREM actually needs, rather than being treated to the almost incessant fundraising. Of course, such a detail is unlikely to be delivered.

Tern (TERN), the investment company, announced that it has raised £420,000 at a price of 2.4 pence. The net proceeds of the Placing will be used to provide the Company with funds to invest in Wyld Networks, through the exercise of warrants held by the Company, and to invest further in one or more of Tern’s portfolio companies and for general corporate purposes.

Comment: Rather like PREM, it would appear that TERN finds it not easy to resist taking advantage of a share price recovery to raise cash. At least in the case of TERN the timing in the trading range was spot on.

Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, provides the following update in relation to its operations and working capital position. On 9 April 2024 and 10 April 2024, the Board of Bens Creek took the decision that, due to the depressed metallurgical coal price, combined with financial constraints at the Company and production difficulties at the mine, to substantially reduce activity at Bens Creek Operations WV LLC.

Comment: The writing on the wall has clearly been in place for some time at BEN. It is a shame that shareholders have had such a poor ride, after such a good initial post IPO experience.

Huddled Group (HUD), the Group focused on building a portfolio of e-commerce brands,  announced the acquisition of online retailer Food Circle Supermarket Ltd for total consideration of up to £300,000. The Acquisition comprises the entire stock, intellectual property and website ( and other social channels of Food Circle. HUD said it was delighted to announce this exciting opportunity to further strengthen its position in the online surplus food and drink market, alongside its existing brand, Discount Dragon. Food Circle is positioned at the intersection of a number of market trends; the continued search for value among consumers, the demand for e-commerce and direct delivery services, and the growth in health and nutrition products to support active lifestyles.

Comment: Rather under the radar, HUD is proving to be a company worth keeping an eye on as it consolidates its position in its chosen niche.

Premier Miton Group (PMI) provided an update on its unaudited statement of Assets under Management for the second quarter of its current financial year. PMI said the Group’s AuM ended the Quarter at £10.7 billion, an increase of 9% on the opening position for the financial year. Long-term investment performance remains relatively strong with 68% 2 of funds in the first or second quartile of their respective sectors since launch or fund manager tenure. It has also been encouraging to see shorter term performance on an improving trend as market breadth improves and mid and small cap stocks recover.

Comment: Those looking for the market to turn will be appreciating of PMI’s improved AuM, and the hope that the worst is over in the small cap space.

Kavango Resources (KAV), the Southern Africa focussed metals exploration company, announced the completion of a ground magnetic survey over the Nara Gold Project in Southern Zimbabwe. KAV said its exploration for large-scale, bulk-minable gold deposits in Zimbabwe is moving at pace. The progress it is making at the Nara Project illustrates how well our team is performing in country. It has been operational in Zimbabwe for only 10 months and in this time have taken great strides forward in exploring our two main projects; Hillside and Nara.

Comment: KAV is clear showing itself to be the exception that proves the rule as far as being a well funded, active exploration company aiming at delivering meaningful return for shareholders. The value should increasingly be reflected in the share price.