Aura Energy (AURA) announced the completion of the previously announced restructure of the uranium offtake agreement with Curzon Uranium Ltd. which materially increased the price receivable for planned uranium production at the flagship Tiris Uranium Project, while releasing significant value for the Project. AURA said it was pleased to conclude the value accretive offtake restructure and it welcomes Curzon – a leading global trader in uranium – as a new significant long term Aura shareholder and partner for the development of the Tiris Uranium Project. Curzon’s deep market insights and extensive networks will be of significant benefit to the development and successful operation of the Tiris Uranium Mine and will therefore be of enormous benefit to all Aura shareholders and stakeholders.
Comment: Given that uranium is hot, one continues to be surprised at the lack of stock market enthusiasm thus far for AURA. Nevertheless, if there was newsflow which could improve this state of affairs, today’s RNS fits the bill.
Guardian Metal Resources (GMET), a mineral exploration company focused on tungsten, lithium, gold, copper and silver within Nevada, USA, announced it has completed a strategic financing raising £2,154,074.58 (US $2.75M) through a direct subscription with the Company. GMET said it has been a very productive summer, and the outcomes from various work streams thus far have been significant including the discovery and validation of multiple porphyry targets at both our Pilot Mountain and Garfield projects, as well as success to date from drilling which is targeting an expansion of the existing Pilot Mountain strategic tungsten resource. This exploration success has drawn interest from North American resource investors and, following my recent North American business trip, it has been able to finalise this important strategic financing.
Comment: Ahead of the big government funding news which has undoubtedly fired the share price bull run of recent months, we see GMET raising additional capital to fund its sprawling and expanding portfolio.
Kazera Global (KAZ), the AIM-quoted investment company, announced that it has received certification from the National Nuclear Regulator in South Africa, which enables its Whale Head Minerals project to imminently commence the mining and production of Heavy Mineral Sands. KAZ said the NNR issuing Whale Head Minerals with its Certificate of Registration removes the final hurdle for the project. Following a final on-site inspection, which will take place by the end of August, we will immediately commence mining its HMS and seek to finalise agreements with off-takers. In the interim, it will build a stockpile of product so that it is able to deliver high volumes of HMS product as soon as off-take agreements are in place.
Comment: While the market may have other ideas, today’s news should be significant enough to deliver a re-rate for KAZ shares, over and above the tentative moves we have seen since the beginning of this month. The next couple of months should be a sweet spot on the life cycle of the company.
Sound Energy (SOU), the transition energy company, announces that the planned work over operations on the gas well TE-7 in preparation for long term gas production into the micro-LNG plant currently under construction at site have resumed following the arrival of additional wellhead equipment. The operation to run new completion tubing into TE-7, will utilize the Star Valley Rig 101 currently located on the Tendrara Production Concession. The rig had been stacked on site at no additional cost to the Group awaiting the arrival of the additional wellhead equipment.
Comment: Shares of SOU have been in something of a holding pattern so far this summer, needing a decent piece of newsflow to clear recent resistance at 1p. Today’s RNS could be the trigger for such a breakout.
TMT Investments (TMT), a venture capital company since 2010 investing in high-growth technology companies report Interims to June 2024. The net asset of $208m which is $6.62 per share is unchanged since the year-end, it only made $1.9m of investments and holds $9.8m cash. The portfolio of over 50 companies mainly US, UK and Europe and the high performers are counterbalance by the poorer. The five largest holdings are Bolt, Backblaze, 3S Money, PandaDoc, and Scentbird, which together account for ci. 64% of the portfolio value and continue to demonstrate good business progress and are adapting well to the challenges of the current environment. The medium-term growth will be from a recovery in the mid-stagers, and it can broadly be said the economic background is more favourable, although politically uncertainty remains. The IRR from inception to 30 June 2024 is 15.3% per annum.
Comment (Jon Lev): At 2.68p it gives a $85m mkt cap and its neither the time to reap or sow but the seasons change which seems ignored by the 55% discount to NAV.
Artemis Resources (ARV) announced the discovery of exceptionally high grade gold in veins at the Titan prospect as part of its recent ground reconnaissance program at its Karratha Gold Project, in the Pilbara region of Western Australia. ARV said it remains excited by the gold prospectivity that our tenements continue to deliver. The re-focus of exploration efforts and strategy on a tenement wide scale is continuing to deliver evidence of multiple new zones for gold mineralisation, which it believes could contain the potential for large scale deposits. The next steps will allow it to refine these zones, delineate bona-fide prospects and work towards more targeted exploration efforts.
Comment: Perhaps rather unfairly, shares of ARV have retreated quite sharply since the beginning of the year. One would assume that the latest high grade gold news will mark the start of at least an intermediate resurrection for the stock.
Cornish Metals (CUSN), a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, announced that it has released its unaudited financial statements for the six months ended June 30, 2024. CUSN said momentum and activity levels have remained high since the start of the year as the Cornish Metals team continues to progress work plans and accomplish key milestones, particularly the completion of the Preliminary Economic Assessment of the South Crofty tin project that confirms the Project’s potential to be a low-cost and long-life tin mining operation. The sale of the Company’s assets in northern Canada provides near-term liquidity and demonstrates its priority and focus on advancing South Crofty towards commencement of production in 2027.
Comment: It is evident that CUSN is in an ongoing PR offensive to keep patient shareholders sweet until 2027, as well as keeping its coffers maintained via the sale of Canadian assets that one assumes most in the market were not aware of.
Mindflair (MFAI), the company investing in next-generation technology focused on AI, is pleased to note the announcements by Sure Valley Ventures of two new investments by the Sure Valley Ventures UK Software Technology Fund in PHINXT Robotics Ltd and Vortex IQ Limited, in which Mindflair has an investment. MFAI said it was pleased to see SVV making these new investments in two exciting companies that align with the vision of advancing AI technology. PHINXT Robotics and Vortex IQ are both at the forefront of their respective fields, and these investments further develop our AI-focused portfolio, supporting innovation and.
Comment: There has been a noticeable turnaround in MFAI shares off the back of speculation that at least one of its investments may hit the big time. Nevertheless, the company’s ongoing strategy to buy whatever is currently hot in tech and hoping it will get hotter is yet to be proven, at least in valuation terms.
Orcadian Energy (ORCA) provided an update on the status of its three licence awards in the 33rd Seaward Licensing Round. Orcadian and the NSTA have now entered into binding licence agreements for all three of its licence awards. ORCA said it was really pleased to have the licence agreements in place for these three new projects. As a result, we estimate that its contingent resource base has grown to 228 MMboe with our un-risked prospective resource base now 100 MMboe. ORCA said its strategy has been to focus on the “post-transition” hydrocarbons – gas and viscous oil.
Comment: Wading through the mire of the woke / green language, one has to take one’s hat off to ORCA in persisting on its strategy given the apparent determination of the new government to close down all domestic sources of “legacy” energy sources.
ProBiotix Health (AQUIS: PBX), a life sciences business developing probiotics to support cardiometabolic health, announced a new commercial partnership agreement for InstaMelt with DanCare Health homepage – Dancarehealth). InstaMelt is ProBiotix’s newly developed food supplement dosage format that offers innovative features for health brands and retailers. PBX said DanCare is well-recognised in the Chinese market as a high-quality innovative brand. With cardiovascular disease on the rise and almost 155 million Chinese adults estimated to have elevated cholesterol levels, there is an increasing consumer focus on cardiometabolic health. With our product offering and cooperation with a market leader like DanCare it is well positioned to tap into this lucrative market over the years to come.
Comment: Someone has to cover Aquis stocks, other than Aquis itself perhaps, and it is left to the RNS Hotlist to step up to the plate, even without any significant motivation to do so other than an enthusiasm for small cap companies. Hopefully today’s China news will finally turn the tide of the bear run in PBX shares.
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