STOCK MARKET NEWS – RNS HOTLIST
RNS Hotlist August 14: Bens, Blencowe, Fusion, Global, Helium One, Jubilee, Roquefort, Spectral, Tap
Jubilee Metals Group (JLP), a company involved in metals processing with operations in Africa announced the expansion of its executive leadership team in support of its growth strategy with the appointment of Neal Reynolds as Chief Financial Officer (CFO) effective October 1, 2023, as well as Ricus Grimbeek who will be leading Jubilee’s expansion drive into energy metals with a specific focus on the roll-out of the Company’s Zambian Copper Strategy. The company said it was pleased to welcome Neal to this important role at Jubilee and looks forward to working closely with him as it continue to build capacity and grow our footprint in Zambia and investigate new opportunities in South Africa.
Comment: JLP shares have needed the kind of boost that the latest announcement may provide, especially the aspect covering growing its footprint in Zambia, with a beefed up team.
Tap Global Group Plc (AQSE: TAP), the regulated crypto app bridging the gap between traditional finance and blockchain technology, is pleased to provide a trading update for the twelve months ended 30 June 2023. FY23 Revenue: £2.52m (FY 2022: £0.90m) up 179%. Registered users up 28% since April trading update, taking total to 185,000. The company said 2023 has been a pivotal year for Tap. To have successfully listed on Aquis and to have delivered a record year for revenue, despite the sectoral headwind, demonstrates that it has a product with broad appeal in the fintech space.
Comment: While there may be some who are still fretting over real or imaginary regulatory issues, this regulated crypto group is simply getting on with the job of growing its revenues and users. This should be reflected in the valuation in a progressive manner.
Blencowe Resources (BRES) provided an update on the 100 tonne bulk sample processing program currently underway. The work is being completed by a leading graphite technical specialist firm, Jilin New Technology, based in Yanji Province in northern China. This experienced graphite facility has been conducting similar test work on several other leading East African graphite projects over the past few years. The company is expecting the bulk sample test program to be completed by the end of August.
Comment: Shares of BRES have already been in recovery mode of late, and the run up to the completion of the bulk sample test program at the end of this month may speed this process along.
Spectral MD (SMD), an artificial intelligence (AI) company focused on medical diagnostics, announces that it has received ISO 13485 certification for the manufacture and distribution of its AI-driven DeepView® Wound Imaging System which is designed to provide immediate, accurate, and binary wound treatment assessments for Burn and Diabetic Foot Ulcer (DFU) indications. The company said the receipt of ISO 13485 confirms Spectral MD’s status as a global provider of medical devices that meet the highest standards of quality, reliability, and safety. We believe that this acknowledgement reflects Spectral MD’s commitment to fostering a culture of continuous improvement, validates the robust sourcing and operational framework we have created, and provides an important competitive advantage as it continues its regulatory submission initiatives and advance towards product commercialization.
Comment: It is a shame that the kind of newsflow and activity that we are seeing from SMD now was not apparent for much of the time it was on the London market, and is now only being seen as it rides off into the sunset to the Nasdaq.
Helium One Global (HE1), the primary helium explorer in Tanzania, is pleased to provide an update on progress at its Rukwa (100% Operated) project area ahead of its Phase II drilling programme. The company said Helium One is now another step closer to commencing its drilling programme at Tai-C. It is very impressed with the high standard of work that TNR have carried out and it looks forward to moving ahead into the next stage of the project. The team has been working incredibly hard and it will now commence the mobilisation of equipment onto the well pad and finalise the drill crew as it gathers momentum ahead of the September spud.
Comment: The anticipation ahead of the September spud has gathered such momentum one could almost touch it. This would suggest that the share price should start to rally ahead of this forthcoming news,
Roquefort Therapeutics (ROQ), the Main Market listed biotech company, announced the successful filing of the international phase PCT (Patent Treaty Cooperation) patent for its proprietary anti-cancer mRNA and RNA oligonucleotide therapeutics. The company said mRNA technology promises to revolutionize future treatments for cancer (AAMC) and as such it is delighted that it is part of this cutting-edge field to treat the hardest-to-treat cancers. Both the mRNA and RNA oligonucleotides attack the novel Midkine target, in which the company is pioneers. Midkine expression is highly associated with cancer progression and poor survival.
Comment: It is far more logical that Mrna would be a potential cancer cure than say, for a virus. But such jesting aside, ROQ’s recent share price revival could be the first sign that the market appreciates it is onto something significant.
Fusion Antibodies (FAB), a contract research organisation announced that it has undertaken and completed a restructuring process set out at the time of the Placing to reduce annualised costs by approximately £2.2 million and is on track to realise all the intended savings outlined. The Company said it continues to expend cash in a planned manner to grow the trading aspects of the business including the development of new services stemming from research and development projects. FAB said “The recent restructuring, whilst difficult for all those involved, was required to ensure the business had the financial resources required to reach profitability. This is now the case, and it continues to focus on delivering the plan.
Comment: It is ironic that the company now has rather more fans that it did below the 10p share price than it did when say, 50p. The ideal scenario is that recovery can now begin in the wake of the restructuring.
Global Petroleum (GBP) announced that the Namibian Ministry of Mines and Energy has given approval for the Company and its partners to proceed to the First Renewal Period of Walvis Basin licence PEL 94, with a duration of two years from September 2023 to September 2025. GBP said it was very pleased to enter the next phase of PEL 94 with the prospectivity intact and the flexibility which a two-year term gives to it and its partners.
Comment: It will be interesting to see whether there is an uplift for GBP given the way that the Ministry has waived the usual requirement to relinquish 50% of the licence area at the end of the IEP. This could be something to get the stock off recent lows.
Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, announced that the highwall miner unit 81 is expected to recommence operating on 21 August 2023. The company said it was delighted that HWM 81 will be returning to operations later this month on schedule. We remain confident that we will meet our production targets and fulfil all our orders.
Comment: Last month shares of BEN revisited their IPO price zone, quite an achievement given they were more than 10x at one point. Bulls of the stock will be hoping that the return of HWM 81 will be a driver for a fresh sustained rally off the back of new production.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.