Skip to main content

Your stock market edge

Gold exploration and development company Panthera Resources (PAT), with assets in West Africa and India, updated on the dispute with the Republic of India over the latter’s breaches of its obligations under the 1999 Agreement between the Government of Australia and the Government of the Republic of India on the Promotion and Protection of Investment. PAT said that on 2 January 2024, the Company announced that its Australian subsidiary, Indo Gold Pty Ltd, formally issued a Notice of Dispute to India in relation to the Bhukia project. If the efforts at settlement prove ineffective, IGPL will promptly deliver a notice of arbitration to the Government of India. The Company will provide further updates as appropriate.

Comment: The market appears to be slowly warming to the prospect of PAT’s prospects in terms of a successful outcome versus India in relation to Bkukia, especially given the way that it has the funding for it from a highly successful counterparty in the litigation field.

ImmuPharma (IMM), the specialist drug discovery and development company, announced that it has initiated a new intellectual property strategy to significantly enhance the patent life and commercial value for its P140 technology platform. IMM said this is an important new initiative which will greatly improve the intellectual property protection for its P140 technology platform and extend its patent life significantly. This in turn creates greater shareholder value and it is particularly pertinent as it progresses discussions with a broad range of potential commercial partners on both the SLE and CIDP programs.

Comment: Although in the recent past IMM has enhanced value via its 10% stake in current hot property Incanthera (AQSE:INC), it can be seen the company is moving re-rate itself via its IP as well.

Capital Metals (CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka, announced the appointment of Bruce Griffin as a Non-Executive Director, with immediate effect. CMET said it was delighted to welcome Bruce to the Board following Sheffield’s strategic investment in the Company and interest in providing funding to support the development of the Project into production. Bruce is well respected throughout the global mineral sands industry and recently played a key role in bringing Thunderbird, one of the largest and highest-grade mineral sands discoveries in the last 30 years, into production in Western Australia.

Comment: Given that CMET is very much back in play with its Eastern Minerals Project, beefing up the board is a logical step, and with someone with form in this space.

Golden Metal Resources (GMET), a strategic development and mineral exploration company focused on Nevada, USA, announced an update in regard to its 100% owned flagship Pilot Mountain Project. GMET said it has taken another important step towards the commencement of this very important drilling programme at our flagship Pilot Mountain Project. It has spent the better part of a year preparing exploration and resource expansion targets and it feels very confident with the targets that are now being finalised.

Comment: While we wait for the big, inevitable news of US grant/s for GMET, we have news regarding flagship Pilot Mountain’s development to tide both us, and the share price over.

88 Energy (88E) announced the successful flow testing of the Upper SFS reservoir in the Company’s Hickory-1 discovery well, located in Project Phoenix on the North Slope of Alaska. 88E said outcomes from this test represent a significant milestone for 88 Energy and its shareholders, with the first successful flow of oil to surface achieved at the Company’s Alaska projects. The completion of flow testing in this zone and recovery to surface of light oil, in addition to NGLs and associated gas, confirms its understanding of the substantial potential of these reservoirs.

Comment: There has been lots of positive huffing and puffing from 88E since the turn of the year. But we still await the share price finally recovering in a meaningful way. Today’s announcement could be a helpful trigger.

ECR Minerals (ECR) announced its audited financial statements for the twelve months ended 30 September 2023. ECR said that despite the challenges thrown at ECR during 2023, it has significantly advanced the value of its assets across the group and, the pace of activity has accelerated into 2024. It has made a conscious effort to re-energise its investment case and activity levels are high – and reflected in increasing trading volumes on the stock exchange.

Comment: Courtesy of the present of Mike Whitlow, the company’s COO, a.k.a Doc Holiday, we have revitalised interest and trading in ECR Minerals. If anyone is going to get the company over the line, it is the current management.

Cizzle Biotechnology (CIZ), the UK based diagnostics developer, announce that it has signed a non-binding MOU for a strategic and exclusive licensing agreement to develop and offer its proprietary test for the CIZ1B biomarker which is highly associated with early-stage lung cancer, throughout the USA and Canada. CIZ said this represents a substantial opportunity to expand the Company’s presence in North America through securing non-dilutive major investment and in building a high value dedicated US based leadership team to establish operations and drive adoption in this important market.

Comment: We can see CIZ moving quickly after the recent fundraise to consolidate its position, this time with an investment, and tie in with the key US market. The key though it perhaps for the shares to get clear of recent ranges under 3p.

Orcadian Energy (ORCA) said it was delighted to announce the completion of the previously announced farm-out of an 81.25% interest in licence P2244, which contains the Pilot field, to Ping Petroleum UK plc. ORCA said the Pilot development is a fantastic opportunity for its new partners, Ping, the UK oil and gas industry more widely, and of course for Orcadian. It was very excited by the prospects for the development and as the major shareholder have facilitated the farm-out by providing a personal guarantee further demonstrating my commitment to Orcadian.

Comment: ORCA managed to pull a rabbit out of a hat last year when it announced its farm-out. It might be fair of the market to rate the shares rather nearer to the 30p peak zone we saw in the autumn, than where the shares are now after this achievement.

Unicorn Mineral Resources (UMR), a mineral exploration and development company, announced that the Board of Directors has unanimously supported a proposal by Executive Director, Jason Brewer, to expand the Company’s focus to include advanced and near-term production zinc, lead, copper and silver projects located in East and Southern Africa. UMR said that the style of base metal mineralisation that it has been exploring for in its various Irish Projects, has strong analogies to that found in many high-grade copper, lead and zinc projects located in East and Southern Africa. And with the experience of its African-based Executive Director, Jason Brewer, be able to successfully advance them towards production.

Comment: Another junior mining play, and another role for the force of nature that is Jason Brewer. UMR’s journey towards production is one which the share price seems set to anticipate, as it was doing at the turn of the year.

Kavango Resources (KAV), the Southern Africa focussed metals exploration company, announced preliminary interpretation for geophysical survey data on its property in Botswana’s Kalahari Copper Belt, from South Africa based New Resolution Geophysics. KAV said based on its analysis of regional copper-silver deposits in the KCB, Kavango believes the configuration of basin and sub-basin structures, including basin margins and intra-basinal highs, plays a pivotal role in many sedimentary copper models. It was quietly confident its Kalahari Copper Belt exploration programme is going to deliver.

Comment: KAV continues to illustrate why, with its strong cash position, the KCB is going to deliver for it. The recent share price rise also shows that the market is onto this unusually well funded minnow.

Frontier Developments (FDEV), a developer and publisher of videogames, updated on trading and highlighted an improving cash position. Frontier’s cash position grew to £23.4 million as of 31st March 2024, up from £19.9 million as at 31st December 2023. The Board said it remained comfortable with the financial guidance previously provided for FY24, before taking into account the incremental profit and cash from the sale of the RollerCoaster Tycoon 3 publishing rights.

Comment: The market cap of £55m and the burgeoning cash position of £23.4m make FDEV a standout in a stock market where so many companies are strapped for cash.