The Telegraph yesterday proved it does not have a clue regarding what it is doing on financial matters: Key moments from yesterday. The FTSE 100 is up 1% so far pre-market. The analysis below is worthy of The Guardian, and of course $11bn is nothing for US Bonds. A trillion would be closer to the worry point. The dollar “plummeting” has been ongoing for days.
21 April 2025 • 9:00pm
7:56pm
‘Fear is taking over’ in US
6:19pm
US bond funds suffer $11bn of outflows
3:06pm
Trump brands Fed chair a “major loser”
2:49pm
Dollar plummets after Trump steps up attacks
2:39pm
US markets slump
Oak Securities issued a new focus note on Predator Oil & Gas (PRD). Noteworthy in particular is the 148p price target, progress in Trinidad, and of course, how this compares to the current 2.35p share price. Oak is currently famous for single-handedly repopulating the London stock market with a string of IPOs in the past year.
Fragrant Prosperity (FPP) announced the appointment of David Brown to its newly formed Investment Advisory Board, a key strategic addition in support of the Company’s fintech acquisition ambitions. FPP said “David is a recognised leader in fintech, digital payments, and AI-driven financial innovation. He brings deep industry expertise and a strong network to FPP’s acquisition strategy.”
Comment: As we have seen from the example of Capai (CPAI), there has been a recent successful trend amongst the small caps to appoint industry bigwigs to create interest and credibility.
ITM Power (ITM) announce two positive changes to its FY25 guidance: Revenue is now expected to be between £25.5m and £26.5m, a 30% increase compared to the midpoint of the previously announced range of £18m to £22m. This increase is due to additional contractual obligations having been fulfilled and associated revenue now recognised.
Comment: Just when you might have thought that the tide was turning against the whole Net Zero / renewable energy areas, ITM at long last announces something positive. Perhaps unlike 2022- 2024, this year the shares may actually finish up.
Shield Therapeutics (STX), a commercial stage pharmaceutical company specialising in iron deficiency with or without anaemia (“ID/IDA”), announced that it has entered into an exclusive licence agreement for ACCRUFeR® with VITAL-NET, Inc. in Japan. VITAL-NET will undertake and be responsible for all costs, including clinical and regulatory, related to activities required to achieve marketing authorisation and commercialisation of ACCRUFeR® in Japan. Shield will receive an initial payment of circa $665,000.
Comment: It can be seen from recent newsflow that STX has certainly been gathering momentum, on sales / prescriptions. Today’s news underlines the progress.
MTI Wireless Edge (MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, is pleased to announce that it has for a second time been nominated for the ‘Dividend Hero of the Year’ award and that Moni Borovitz, CEO, has been nominated for ‘Executive Director of the Year’ award at the UK Small Cap Awards 2025. The Small Cap Awards is an event to celebrate companies and participants in the sub-£350m market cap quoted company sector. The awards dinner and ceremony will take place on Thursday, 19 June 2025.
Comment: In terms of hard graft against a backdrop of little stock market appreciation, it has to be said that MWE certainly deserves the awards it has been nominated for. That said, given that in recent years I have not been invited to the Small Cap Awards (in spite of an unfettered devotion to the space), I will not be there to see if MWE win or not.
Oracle Power (ORCP), the international project developer, is pleased to announce that it has raised gross proceeds of £318,600 at a price of 0.018 pence. The net proceeds of the Placing will be primarily used to progress the development of the projects in Australia, as well as supporting the advancement of the projects in Pakistan, and for general working capital purposes.
Comment: As was hinted here just a few days ago, one could sniff that a fundraise was on its way. It is a shame that the company could not have waited a little longer to allow the shares to trade at a higher level for the fundraise.
East Star Resources (EST), which is exploring for copper and gold in Kazakhstan, is pleased to present its annual financial results for the year ended 31 December 2024. EST said it which represents access to Tier 1 copper and gold discovery opportunities in Kazakhstan. We’ve had boots on the ground for over three years, have a JORC copper deposit that looks suitable for a low capex open pit development, and several big prospects in play, targeting VMS, porphyry copper and epithermal gold systems.
Comment: Shares of EST were covered yesterday in the Bulletin Board Heroes, as Thursday’s price action for the stock had a bullish edge to it. With the shares at the low end of the range, and the company proving to be one that has assets of scale, there should be a further rebound.
Kavango Resources (KAV), the Southern Africa focussed mine development and metals exploration company, announced that it has issued a US$5million convertible loan note facility to a consortium of Zimbabwe registered pension funds. KAV said “As part of a rigorous due diligence, several consortium members and members of the investment committee conducted site visits to review the Kavango’s gold projects. It reflects the strong progress our team has made, in less than two years of operations in Zimbabwe, that we successfully passed this process.”
Comment: KAV was also covered in yesterday’s Bulletin Board Heroes video, suggesting that there was enough of a charting fingerprint to imply that one or two people successfully guessed today’s news by buying the shares on Thursday. Congratulations.
Helium One Global (HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, updated following the Blue Star Helium (ASX: BNL) announcement issued today regarding the Galactica Project. Jackson-29 flowed naturally during drilling and at Total Depth. Early samples return helium concentration of up to 3.30%. Permitting approved for construction of helium and CO2 processing plant from Las Animas County.
Comment: The real sizzle as far as trading volume was concerned for HE1 was speculation over Rukwa, Tanzania. However, after diverting interest to its safe bet in Colorado the party has somewhat faded given that the company is now piggy-backing off someone else’s project.
Arecor Therapeutics (AREC), the biopharmaceutical company, announced its final audited results for the year ended 31 December 2024. AREC said “The positive advancements within our diabetes portfolio support our confidence in the potential of AT278 to generate significant value creation for the Company and shareholders.”
Comment: As part of a RNS Hotlist campaign to highlight companies on the London market hardly any one has heard of we have AREC. That said, with the shares down each year since 2022, some degree of work is probably required here to turn the tide as far as the messaging is concerned.
Fulcrum Metals (FMET), a technology led company focused on the recovery of precious metals from mine tailings in Canada, announced the identification of Gallium at the Company’s Teck-Hughes and Sylvanite gold tailings projects located in the Kirkland Lake area of Ontario, Canada. FMET said “The presence of Gallium, in addition to Tellurium as previously reported in the Company’s announcement of 5 November 2024, has been identified in all assays of the available 15 holes to date, which has the potential to significantly increase the value of these two highly prospective projects and position them as a sustainable domestic source of gold and critical minerals for Canada.”
Comment: In terms of persistence it is difficult to fault FMET, with the sale of Tully Gold announced earlier this month, and now the Gallum discovery. All that is left is for the share price to finally get some love.
CoTec Holdings Corp and Mkango Resources (MKA) announced that U.S.-based PegasusTSI Inc. and Canada-based BBA USA Inc. (“BBA”) have been engaged to complete services for HyProMag USA’s advanced stage rare earth magnet recycling and manufacturing project located in Dallas-Fort Worth, Texas. The award of the EPCM contract follows the November 2024 completion of the base case Feasibility Study for HyProMag USA, which indicated a NPV7% of US$262 million based on current market prices and US$503 million based on forecast prices.
Comment: Shares of MKA have already been a stock market highlight for 2025, and even after the 145% rise for the shares the company only has a market cap of £70m, still well below the notional NPV indications.
