hVIVO (HVO), (formerly Open Orphan plc), the specialist contract research organisation, noted the announcement by Cidara Therapeutics, Inc., reporting positive interim results from an ongoing human challenge study testing CD388. hVIVO is conducting the Phase 2a single-center, randomised, double-blinded, placebo-controlled trial using its H3N2 Influenza Human Challenge Study Model. The company said the results are another clear demonstration of the value of human challenge trials in delivering quick efficacy data, de-risking entry into later stage clinical development. Importantly, the data underlined the potential of Cidara’s Cloudbreak drug-Fc conjugates, of which CD388 is one example, to be efficacious long-acting therapeutics with universal protection of seasonal and pandemic influenza.
Comment: The continuous stream of positive newsflow at HVO is resumed with the underpinning of the company’s Human Challenge Study Model modus operandi. The company continues to build on its world class credibility in the space.
Tirupati Graphite (TGR), the specialist graphite and graphene company, announced that on 1 April 2023 it successfully completed the acquisition of Suni Resources SA, the Mozambique incorporated subsidiary of ASX listed Battery Minerals Limited. The Acquisition includes all assets, infrastructure, permits, licenses, and intellectual property associated with the construction initiated Montepuez Project and the fully permitted Definitive Feasibility Study ready, Balama Central Project in Mozambique held by Suni. TGR said it was delighted to announce the completion of the acquisition of Suni Resources. This strategic acquisition will see it materially strengthen our existing portfolio through the addition of two world-class graphite assets located within one of the largest commercially operating global flake graphite projects. Moving forward, its focus will be on optimising processing technology, flow sheet and the investment required for the projects, continuing the construction of the first module at Montepuez.
Comment: TGR continues to remind the market of the strength of its portfolio, and the production goals, which are now already underway. There should be little reason for bulls of the stock to hesitate in bargain hunting the shares under 30p, with a producing graphite company getting into gear.
Arrow Exploration (AXL), the operator with a portfolio of assets across key Colombian hydrocarbon basins, provided an update on the drilling of Rio Cravo Este-5, a development well on the Rio Cravo oil field within the Tapir Block in the Llanos Basin of Colombia, and is providing an operations update. The company said the RCE-5 was drilled under budget and on time. The team continues to become more experienced in the play and this is resulting in cost and time savings. The net pay encountered in RCE-5 is one of the largest to date in the RCE field. We now have six wells drilled into the RCE structure and a very good understanding of the distribution of the various oil-bearing reservoirs we have encountered.
Comment: Those looking for the catalyst for a decent breakout for AXL shares will be thinking that today’s news from RCE-5 is the one to take the stock “over the top.”
San Leon (SLE), the independent oil and gas company focused on Nigeria, announced a further update in relation to: i) the proposed transactions with Midwestern Oil & Gas Company Limited and the company’s further conditional investments in ELI; ii) its current refinancing discussions; and iii) an Energy Link Infrastructure (Malta) Limited operational update. Kolapo Ademola, CEO of ELI and a Non-Executive Director of San Leon, commented: ELI is delighted to collaborate with Century Energy Group. CEG’s proven expertise and experience in the sector provides ELI with a reliable partner towards the attainment of our corporate goals within the midstream oil and gas sector in Nigeria. Its collaboration with CEG should expedite our ability to deliver value to our key partners and stakeholders; Crude Oil producers in the Eastern Niger Delta, the Federal Government of Nigeria and the Nigerian economy at large.
Comment: Shares of SLE have been rising ahead of what has proved to be one of the more positive RNS updates of recent months. This latest update could be the trigger for further gains, especially as it underpins sentiment.
Hydrogen Utopia International (HUI), a company specialising in turning non-recyclable mixed waste plastic into carbon-free fuels announced the appointment of Harold Tillman CBE , one of the most senior and respected figures in the UK and global fashion industry as Ethical Consultant to the company. The appointment follows the announcement of a strategic partnership with Ethical Fashion Group Limited, co-founded by Harold Tillman CBE, on 20 February 2023. As part payment for his consultancy services, HUI has agreed to grant Harold Tillman CBE options over up to 6,666,666 HUI ordinary shares at an exercise price of 15p per share exercisable over different periods of time in the 4 years following his appointment. The company said it is a great honour to have Harold Tillman CBE supporting HUI in its ambitious world-changing goals to build the first plastic hydrogen facility in the world.
Comment: We can see from today’s Tilman news that he is certainly fully motivated to gain access to funding for the first plastic hydrogen facility in the world via his options which are only of value if the share price is considerably higher than where it is now. The prospect of the funding of the first plant is something which would be transformational for HUI’s valuation, and the war on waste plastic. Given his rather large Rolodex in the fashion industry, the day when line of sight will appear on such funding should be well within the calendar year.
Powerhouse Energy Group (PHE), a company pioneering integrated technology which converts non-recyclable waste into low carbon energy, announce that it has extended the validity of the Collaboration Agreement with Peel NRE Ltd, the Peel Exclusivity Agreement Option and the Loan Facility agreement between PHE and Protos Plastics to Hydrogen No 1 Ltd. As announced on 15 August 2022, these agreements were extended until 31 March 2023. They are now being extended further to 29 April 2023.
Comment: It can be seen that PHE and Peel are still determined to keep their relationship alive, something which when it was announced allowed the share price to head for multiples of where it is now.
Saietta Group (SED), the light duty and heavy duty eDrive systems group, announces it has received an order for 3,000 eDrive units from its existing US customer, AYRO Inc. The company said this contract with AYRO is a significant milestone for Saietta giving us further presence in the US market and confirming that there is clear demand for our products and services around the world in the fast-growing, final mile delivery vehicle sector.
Comment: We now know officially, the reason for the recovery in SED shares in recent weeks, and have a justifiable catalyst for further gains in the stock, despite the doubling already seen over the near term.
Chill Brands (CHLL), the international consumer packaged goods company, announced that it has raised £2.6 million (before expenses) from a high net worth investor. The company said it was thrilled to have secured funding from a new long-term investor. This will provide it with the resources needed to expand both on its product output and the marketing activities that will help it to deliver those products to a wider audience of retailers and consumers.
Comment: Chill has perhaps not surprisingly taken advantage of the sharp recovery in its shares so far this year to raise cash. This should give it the ability to finesse the positive momentum already being seen on the fundamental front.
NFT Investments (NFT), an investment firm, announced on 20 March 2023 its intention to publish Quarterly Trading Updates in advance of the liquidation of its Crypto holdings and to return value to its shareholders by way of a tender offer for its shares following the next BTC halving (expected in April 2024). The company has unaudited Crypto assets with a valuation of £27.8 million (2.77p per share) as at 2 April 2023.
Comment: NFT’s investment success of late has perhaps understandably in current market conditions been underappreciated. However, the latest news of returning value for shareholders should be tough to ignore.
East Star Resources (EST), which is defining mineral resources in Kazakhstan, announced assay results from initial drilling to test the Talairyk project for Rare Earth Element concentrations in East Kostanay, Kazakhstan. The company said the results demonstrate high grade intersections across the entire tested area and broad intersections in every drill hole, validating historical data and providing a strong indication of an REE deposit of consequential size and grade.
Comment: East Star continues to build its mineral resources portfolio with each RNS. One would assume that the tipping point in terms of a significant share price re-rate is all the closer now.
Canadian Overseas Petroleum (COPL), an international oil and gas exploration, production and development company, announced its financial results for the fourth quarter ending December 31, 2022. The company said that in an effort to manage its capital resources and liquidity, it had reduced capital expenditures in the period to $2.3 million. The cash position of $4.0 million as at December 31, 2022 was as compared to $5.7 million as at September 30, 2022. Each of these initiatives are intended to improve production levels by resolving constraints and bottlenecks that have limited COPL’s pace of development over the year 2022.
Comment: Last week’s recovery in COPL shares suggested that for the first time in the recent past the share price fully reflects the headwinds the company has been facing, and may finally allow scope for a recovery in the stock and sentiment.
Tungsten West (TUN), the mining company focussed on restarting production at the Hemerdon tungsten and tin mine in Devon in the UK, announced that it is undertaking a restructuring exercise and interim fundraising to enable it to focus on satisfying the conditions for completing the remaining funding required to complete the Project and take Hemerdon into production. A fundraising underway in order to raise a minimum of £5 million and up to £6.95 million through a placing of Convertible Loan Note and up to a further £2 million via an Open Offer. The company said the proceeds of the Fundraising will increase the company’s cash balance and allow it to progress necessary Project workstreams whilst it continues to work towards full Project funding.
Comment: Another stock which has been in recovery mode, if gingerly, in recent sessions. The latest funding news is perhaps the only way to allow the journey towards full project funding and eventual production.
Angus Energy (ANGS) announced that well initial clean-up operations concluded early on the weekend since which time the sidetrack SF07V well testing programme has been progressing satisfactorily. Connection to the plant for gas processing and export is planned directly after the clean-up and we expect to realise the combined flow rates of all three wells later in the month.
Comment: Shareholders of ANGS will have been getting the feeling that the company is gathering momentum, something which today’s announcement and the recent share price squeeze higher underlines.
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