EQTEC (EQT), a technology innovator, updated on progress on the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited. As previously announced, the timing of the payment of the settlement sum is subject to and conditional on the sale of a site at Weighbridge Road in Deeside Industrial Park, with payment expected following completion of a sale. On the basis completion does occur in accordance with the indicated timetable, the Company would be due to receive £2,000,000 under the settlement agreement.
Comment: Shares of EQT are already starting to re-rate ahead of £2m landing in its kitty, and this may also lead to a fresh appraisal of the company and its new strategy.
SolGold (SOLG) provided stakeholders with an update on SolGold’s activities to de-risk and advance the Cascabel Project, underscoring Management and the Board’s commitment to timely execution and project milestones. SOLG said it is preparing for the upcoming geotechnical drilling and the official selection of the project management group following the tender process. Regular updates on these activities will be shared to keep our stakeholders well-informed as progress continues.
Comment: The price of gold may be through the roof, but the London market being what it is, the share prices of many stocks in the sector are yet to reflect this, including SOLG.
Haydale Graphene Industries (HAYD) announced a five-year deal with an existing Chinese tool manufacturing partner for a commitment for $4m. The partner will distribute Haydale’s Silicon Carbide whisker reinforced cutting tools in Asia. The Chinese Silicon Carbide cutting tool market has been estimated at c. $214m and growing. The recent trading update anticipates HAYDs turnover for the Y/E June 2024 at £4.7m with an EBITDA loss of £3.15m and perhaps with a little cash left from last year’s £6.2m fund raise at 0.5p.
Comment (Jon Lev): At 0.355p with a £6.8m mkt cap further funds are likely to be required to pursue the worthy strategic plan to increase its presence in key global markets and to leverage new opportunities for growth and development.
Powerhouse Energy Group (PHE), a company pioneering integrated technology that converts non-recyclable waste into low carbon energy with a revenue generating engineering consulting division (Engsolve), provided an update on the progress of its Technical Centre at Bridgend in Wales. PHE said it was pleased with the consistent progress of the FTU build. Using its own in-house engineering capabilities and local suppliers means we can be flexible and efficient. It has no large outstanding items and can now fully concentrate on the mechanical completion in readiness for the control system and preparing the external area for civils for the tank deliveries.
Comment: Although it feels that it would be quicker to invent a time machine, than whatever PHE is trying to achieve at its technical centre, it seems that the market is still happy to wait patiently on the company’s strategy.
Beeks Financial Cloud Group (BKS), a cloud computing and connectivity provider for financial markets, confirm that the conditional contract with one of the largest exchange groups globally, announced on 6 February 2024, has now received regulatory approval. BKS said it was delighted to receive regulatory approval and commence our project with one of the most renowned exchanges globally. It has already proven the speed with which it is able to launch these significant deployments, and it looks forward to nurturing a sustained and successful collaboration with the customer. It remains well-placed to satisfy the strong demand for its solutions.
Comment: BKS is one of the better small cap growth company situations, something which it underlines both with today’s contract news, as well as the stock stretching to all time highs.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided results for the quarter ended 30 June 2024 related to hydrocarbon production from its non-operated asset portfolio in the Williston Basin, North Dakota, U.S ZPHR said it was delighted to report a fourth consecutive quarter of production growth from the Williston project. Its non-operated assets continue to deliver strong and robust cash flows, enabling it to cover all corporate costs and advance its operations at the Paradox Basin, Utah, U.S.
Comment: ZPHR shares came off the boil last month, and it may take a while to regroup for the bulls, given that positive production news appears to be in the price.
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