21/04/2023

Pantheon Resources (PANR), the AIM-quoted oil and gas company, provided an update. The company said the hydrocarbons discovered at the Hickory well is a great outcome for all companies exploring and developing the large oil resource close to the Dalton Highway and the Trans Alaska Pipeline. These large resources are in tight oil-bearing formations where we will utilize unconventional oil extraction technologies on conventional reservoirs to improve oil recoveries. The geographic location of Hickory near Pantheon’s acreage makes this ideal for the use of unconventional equipment and technology.

Comment: PANR will certainly need “large resources” to turn around the recent share price declines. It will be interesting to see how much comfort such resources near Pantheon’s acreage will provide to the market.

Vinanz (AQSE: BTC) announced the admission of its shares to trading on the Aquis Stock Exchange  will take place and dealings will commence at 8.00 a.m., 21 April 2023. The commencement of trading of the Company’s Ordinary Shares follows a successful subscription and placing by Vinanz raising gross proceeds of £755,000. In addition, as announced by Valereum (VLRM) on 18 August 2022, Valereum and Vinanz have entered into an asset purchase agreement pursuant to which the company agreed to acquire certain Bitcoin mining machines and Bitcoins from Valereum. 20 Bitcoin mining machines and 5.01153011 Bitcoins are effectively transferred to the Company in consideration for the issue of 27,325,171 new Ordinary Shares to Valereum, representing a holding of 23.46% of the Company. The Ordinary Shares issued to Valereum are subject to a 12-month lock-in period. David Lenigas, the Executive Chairman of the Company, currently holds an 8.63% shareholding in Valereum.

Comment: We have an exciting ticker code for Vinanz, and a decent deal to get started with from Valereum in terms of the Bitcoin mining machines and Bitcoins, for a new listing with such a small market cap, so far.

ANGLE (AGL), a liquid biopsy company, announced audited preliminary results for the year ended 31 December 2022. The company said 2022 was a breakthrough year for ANGLE with the world’s first ever FDA product clearance for a system to harvest CTCs, intact living cancer cells, from metastatic breast cancer patient blood for subsequent analysis. This was followed by ANGLE’s ovarian cancer study demonstrating the clinical validity of analysing Parsortix CTCs for real-world clinical applications. 2023 has started strongly and it looks forward to continued commercial progress in the year ahead.

Comment: In a normal market one would suggest that FDA clearance and “excellent” results from the ovarian cancer study would be enough to move the dial as far as the share price and sentiment towards a company. Instead, it is perhaps the focus on the cash burn which has blurred the picture.

Scotgold Resources (SGZ), Scotland’s first commercial gold producer, announced that that the transition to the long hole stoping mining method at its Cononish gold mine in Scotland has progressed well and is in line with management’s mine plan. The company said it has decided to undertake an Open Offer as part of the Fundraising so that UK and other eligible shareholders will be able to participate if they wish to. The Fundraising will raise, in aggregate, c.£1.5 million (gross) and up to £2.0 million (gross).

Comment: Scotgold goes for a fund raise which the share price has been signalling for quite some time. The key here will perhaps be operational progress as much as how much investors are prepare to dig into their pockets.

BSF Enterprise (BSFA), a company focused on biotech solutions, announce that its wholly owned subsidiary, 3D Bio-Tissues (3DBT), is making positive progress in relation to the development of its products and is on track to produce and display the full-scale 100% meat fillet of cultivated pork, as well as a series of 100% new meat strips of cultivated pork, which will be showcased before the end of H1 2023. The company said it was very pleased with the progress being made in our Newcastle laboratory, as it applies the findings from growing its prototype fillets and strips to refine City-MixTM its patented animal-free cell-boosting medium, and its application.

Comment: BSF has certainly captured the imagination as far as being a classic retail investor friendly concept. It will be all about getting the concept over the line while the excitement around this concept remains.