Rosslyn (RDT), win a a game changing three-year contract worth £2m for the procurement division of one of the worlds largest technology companies with the chance to expand into the customers other divisions and operations. Its cloud-based AI platform enriches data, to provide insight into diversity and sustainability within the supply chain. There is also a Trading update for the year-end April 2024 anticipating virtually unchanged revenue of £2.9m and a £0.5m higher EBITDA loss at £2.5m. Theres is cash of £807k with a cash burn was £218k per month. The US contract is the ultimate proof-of-concept of its AI solution which automate procurement data categorisation and classification and further contracts seems likely.
Comment (Jon Lev) At 9.25p with a £1.63m market cap the shares should swiftly react to the new contacts and do not be put off by the prospects of a likely placing.
Rome Resources (RMR) announced that it has launched a new section on its website which details, inter alia, instructions to legacy Rome Resources Ltd shareholders in relation to the receipt of their Consideration Shares. Shareholders are encouraged to visit https://romeresources.com/investor-centre/guidance-to-legacy-rome-resources-ltd-shareholders/.
MTI Wireless Edge (MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors revealed an 18% increase in EBITDA to US$3.3m (H1 2023: US$2.8m). Profit before tax increased 10% to US$2.3m (H1 2023: US$2.1m. MWE also announced an enlargement of its share buyback programme.
Comment: Although MWE has proven its business model for years, so far it is yet to get the stock market engagement it deserves. The extension of the share buy back is a factor of this ongoing state of affairs.
Jubilee Metals Group (JLP) announced an Operational Update for Q4 FY2024. Jubilee said it continued to show strong growth in its South African and Zambian operations with increased copper and chrome production while maintaining our strong safety performance. Its Zambian operations are emerging from a period of significant investment in upgrading the Roan operations while expanding its copper resource portfolio with the commissioning of our Munkoyo Open-Pit copper mining operation. The upgraded Roan operation is now capable of processing Previously Mined material through the new Front-End Module while continuing to produce copper concentrate from Previously Processed material through the existing flotation section. Roan’s unique capabilities offer Jubilee the opportunity to grow significantly within Zambia.
Comment: Ideally, the promise of significant growth in Zambia will get JLP the fresh stock market recognition it deserves, something which is called for given the stock’s extended foray near the lower levels.
Eco Buildings Group Plc (ECOB), a modular housing company, is pleased to announce that it has raised £450,000 at a price of 10 pence per share. ECO said it was grateful to its shareholders for their patience and support. Today’s capital raise allows it to execute on a short-term purchase order, as well as likely providing the springboard for further orders under negotiation in the near term. While reaching this crucial revenue and cash flow point took longer than expected, its customers remain eager for proven, innovative, low-cost modular solution. This business model, which minimizes delivery risks by batch producing near the site, keeps it competitive and ready to capture growing demand. It looks forward to updating the market soon with new initiatives.
Comment: Yes, there has been a delay here despite all the eager customers. Perhaps ECO could simply ask these customers for enough of a deposit on orders so it does not have to tap shareholders for cash.
Galileo Resources (GLR) confirmed that Phase 3 RC drilling on the Shinganda Licence has commenced. Exploration including drilling to date has established the potential for a large IOCG-type target and the current programme is focusing on an approximate 10km strike length of Cu – Au mineral-bearing fault/shear targets along the Shinganda Main Fault and Splay structures broadly defined by the Company to date. These structures exposed at surface are proven to host copper – gold mineralisation within shears associated with the Shinganda Splay Fault. The extent of the mineralisation will be tested during this programme.
Comment: Fans of GLR have been waiting on the big event / newsflow to get the shares out of their recent rather sticky 1p – 1.20p range. The prospect of Shingada being a large target could be something to effect such a scenario.
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