Helium One Global (HE1), the primary helium explorer in Tanzania, announced that the Company has entered into a conditional binding heads of agreement pursuant to which Helium One has agreed to acquire a 50% legal and beneficial interest in ASX listed Blue Star Helium’s (ASX: BNL). The Company also announces that it has raised gross proceeds of £6.43 million by a direct subscription. It also announced that that it has completed the first phase of the extended well test at Itumbula West-1 and has successfully flowed up to 7.6% helium to surface. HE1 said it was very pleased to have entered into the partnership with Blue Star that allows it to build an expanding global footprint in the helium sector at such a pivotal time. Its projects in Tanzania remain its primary focus, but this development opportunity enables the Company to potentially secure near-term cash flow to aid with progressing our Tanzanian asset. It now has a portfolio of two potential near term revenue projects in its portfolio.
Comment: Another chunky fundraise was overdue for Helium One, which may now perhaps not be nicknamed Helium “None” given the successful flow announced today. The dip for the shares on Friday, and it being over 2 months since the last placing meant that shareholders were due to be tapped again. Let’s see if buying the stock at the placing price leads to the same multibag upside as it has done in the recent past. As an aside, the cash burn rate seems to include caviar and champagne for breakfast, as well as the cost of expanding its footprint. This is presumably a hedge against Itumbula not making up for the tens of millions the company has raised in the past couple of years.
Jubilee (JLP), a diversified metals producer with operations in Zambia and South Africa, announced the signing of a three-year renewable power purchase agreement with Lunsemfwa Hydro Power Company (LHPC), an independent hydro and solar power producer in Zambia. The power purchase agreement ensures that the total power supply needs of both Roan and Sable will be continuously met at competitive rates to the prevailing power tariffs, commencing on 1 September 2024. JLP said the successful implementation of the private power purchase agreement is a critical step towards securing a reliable and continuous power supply for our operations and addresses the current shortage of power experienced. This comes at a critical time as we step up the production at its Roan and Sable operations and look to further expand its operational footprint. Its Roan operation has been impacted by power shortages, which is comprehensively addressed by this agreement.
Comment: Given that shares of JLP have thus far remained stubbornly at the low end of the range, one would be surprised if today’s news was enough to change this state of affairs. However, JLP has delivered operationally for its shareholders, even if this is not reflected in the share price.
Alien Metals (UFO) provided an update covering recent activities and exploration works completed and assessed by Errawarra Resources Ltd at its 100% owned Pinderi Hills silver and precious metals project in Western Australia. UFO said this is a pleasing start to the exploration programmes at Pinderi Hills. Errawarra is a valued joint venture partner and it looks forward to further positive lithium exploration results as the work programmes are implemented. Importantly, the data being gathered by Errawarra, at no cost to Alien, will continue to provide the Company essential information that will assist in the analysis and drill targeting for silver, base and precious metals.
Comment: Things seem to be stirring in a positive way for UFO in terms of the share price, and today’s RNS could be just the ticket for those looking for the turnaround of late growing legs.
Panthera Resources (PAT), the diversified gold exploration and development company with assets in West Africa and India, announce that the drilling programme at the Kalaka Project in Mali has been completed. PAT said follow-up work by Panthera including re-examination of all available drill data at K1A, identified a mineralised envelope that broadly conforms to the potential endowment mentioned by Golder. This work identifies an exploration target of between 0.5 Moz to 1 Moz gold. Importantly, the Company is yet to drill the northern extension of the mineralisation at K1A together with several similar targets within the project area. Taken together this would potentially expand the exploration target to approximately 3 Moz of gold.
Comment: PAT reminds us that it is not just a massive litigation play, but has significant exposure to projects that it is set to develop, and ones that like Kalaka could be significant.
Argent BioPharma (RGT) said it will continue its journey as a specialised biopharmaceutical company with a primary research focus on the central nervous system (CNS) and the immune system, two pivotal and promising areas in the future of medicine. By advancing its existing portfolio of drugs and integrating new, innovative biological and chemical therapies, Argent BioPharma is dedicated to addressing unmet medical needs and pioneering advancements in healthcare. RGT said it has two investigational drugs with early sales in the UK, Ireland, and the USA under special access schemes, which can generate real-life data on our treatments, helping it to improve its medicines as it proceeds with regulatory pathways to marketing authorisations as licensed drugs in Europe and the USA in the coming years.
Comment: Shares of RGT have risen well in the run up today’s update, and it may be the case that this is one of the few biotech companies on the London market which can garner share price momentum, even though it is not exactly a well followed or known company currently.
Cykel AI (CYK), a company involved in AI automation solutions, announced a strategic partnership with Simera, an innovative remote talent platform connecting Latin American professionals with North American employers. This collaboration aims to leverage Cykel AI’s technology and expertise to drive efficiencies in Simera’s Go-To-Market (GTM) strategies, focusing on identifying target companies and market segments to expand reach and accelerate growth. CYK said its partnership with Simera represents a significant opportunity to demonstrate the transformative power of its AI automation solutions in the rapidly evolving remote work sector. By expanding Simera’s GTM strategies and helping identify key target segments, it aims to create substantial efficiency gains and drive growth for their operations.
Comment: CYK has done well in terms of riding the AI momentum of the zeitgeist, so much so that most in the market not currently knowing what the company does, or understanding the latest deal may not be that relevant.
Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company focussed on the development and commercialisation of innovative medicines targeting diseases with a high unmet medical need, announces that Jeremy Skillington, PhD, Chief Executive Officer and David Allmond, Chief Business Officer will present virtually at the H.C. Wainwright 26th Annual Global Investment Conference, being held on 9-11 September 2024 in New York and virtually.
Hummingbird (HUM) noted the recent update from Pasofino Gold Limited, regarding the ongoing strategic review process aimed at advancing the Dugbe Gold Project in Liberia. Hummingbird holds a 53% interest in Pasofino. The strategic review being conducted by Pasofino is focused on unlocking the full potential of the Dugbe Gold Project in Liberia, with the objective of securing financing to advance the DFS initiatives that commenced earlier this year. Pasofino notes that it continues to engage with interested parties in the completion of their confirmatory due diligence and structuring to enable Pasofino and a third party to enter into a letter of intent/exclusivity agreement by the end of Q3-2024, and thereafter the intention is to enter into a definitive acquisition agreement in Q4-2024.
Comment: HUM is still waiting on the market to give it the rating it deserves in the wake of the latest financing news, something which perhaps today’s Dugbe update may at least provide some help on.
Incanthera (AQSE: INC), the specialist company focused on innovative technologies in dermatology and oncology is pleased to announce its audited final results for the year ended 31 March 2024. INC delivered a commercial deal with world’s largest health and beauty retailer, AS Watson. Incanthera’s Skin + CELL skincare range of 5 products to be launched in Europe in September 2024, through AS Watson Group partner, Marionnaud, with further anticipated launch through AS Watson Asian store network soon after. INC said this is the year in which it has delivered its promise of a successful commercial deal, that will launch its world-class products onto an international stage at the very highest level.
Comment: Shares of INC have been one of the best performers on Aquis this year (not saying much) off the back of the transformational deal announced at the beginning of the year. What we are waiting on are the potential numbers the company can deliver, as this is what is required to take the shares up another leg.
ValiRx (VAL), a life science company focusing on early-stage cancer therapeutics and women’s health, provides the following update from its wholly owned subsidiary Inaphaea BioLabs Limited. VAL said this deal represents a great step forward in commercialising Inaphaea’s primary asset – its Patient Derived Cell bank. Productising Inaphaea’s cell bank is a key strategic objective.
Comment: Given all that VAL has been through, and the share price performance, it will certainly take a lot to turn the company around. Perhaps today’s deal marks at least the beginning of the end of an extreme bear phase.
Belluscura (BELL), a medical device developer focused on lightweight and portable oxygen enrichment technology, unveiled an AGM statement. The Board anticipates that revenue for FY24 will be approximately $8 to $10 million (2023: $825,409) depending on timing of the full commercial launch of the DISCOV-R. and that the Company will be EBITDA positive for Q1 FY25. BELL said whilst it has taken time to bring both products to market, and it was grateful for the patience of its shareholders, it now has two leading lightweight portable oxygen enrichment concentrators that meet the stringent requirements of the FDA and it looks forward to the full commercial launch of DISCOV-R™ later in the year.
Comment: While one could perhaps not ascertain the potential of BELL via either its share price performance or its RNS’s, today’s update actually underlines the way that the delays are in the price, and actually getting to commercialisation could yet turn this company around on a decent scale.
Bezant (BZT) provided information on the positive outcome of geophysical surveying during August at its 100% owned Kanye manganese project in Botswana which was planned to assist in extending the potential footprint of the deposit. BZT said it has previously discovered pods of high grade manganese mineralisation at the Moshaneng prospect and have sought to extend the deposit footprint. Therefore it is strongly encouraged by initial indications from the geophysical survey of potential for a wider zone of continuous mineralisation over at least 900m of strike, with the target still open further to the NW. It plans to follow up with drilling to confirm possible mineral continuity and grade and ultimately, dependent on the results, extend the resource. Previously metallurgical recovery test work has demonstrated excellent overall manganese recovery, with a product potentially suitable for processing to high purity manganese.
Comment: There has been a tentative turnaround for shares of BZT, and this is likely to continue with newsflow such as we have been treated to today. This is especially true given the modest market cap the company has at the moment.
GreenRoc Strategic Materials (GROC), a company focused on the development of critical mineral projects in Greenland, announced that it has signed a LOI to secure an area in Southern Norway for the Company’s planned graphite Active Anode Materials production plant. GreenRoc has also applied for “Strategic Project” status under the EU’s Critical Raw Materials Act and has submitted the Project Description for the Amitsoq Graphite Mine in South Greenland to the Government of Greenland as part of the Company’s path to achieving an Exploitation Licence. GROC said it was very pleased that its search for the best location for our AAM plant has ended with such an attractive location. GROC said it is also with great anticipation that it has filed its applications for both its Amitsoq Graphite Mine and its future Graphite AAM Plant to be designated as Strategic Projects under the EU’s Critical Raw Materials Act.
Comment: It is little surprise that shares of GROC have turned up sharply today. This was not only on the charting set up of late, but also that the market has missed the potential of this Greenland focused company thus far.
CleanTech Lithium (CTL), an exploration and development company advancing lithium projects in Chile, following a review of its prospectus dated 13 August 2024 by the ASX the Company has issued a replacement prospectus. CTL said it does not anticipate that the lodgement of the Replacement Prospectus will impact the timing of its admission to ASX and admission is expected to occur on or around 24 September 2024.
Comment: The opportunity that CTL presents currently is that the market is not giving any credit to the company in terms of the added momentum it will achieve via an ASX listing, where it will no doubt be rather more appreciated than in London.
Hydrogen Utopia International (HUI), a company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, announced that, it was notified that Aleksandra Binkowska, Chief Executive Officer of HUI, will be drawing down a first tranche of £500,000 under a non-recourse personal loan facility of up to £3,000,000, pledging security over 50,000,000 ordinary shares representing 12.97% of her 42.32% shareholding in the capital of the Company. The personal loan facility has a term of 5 years but can be repaid after 2 years. Upon redemption of the personal loan facility, the pledged shares must be returned. Aleksandra Binkowska, CEO of HUI, commented: “HUI is not just another lifestyle PLC. For me, it is a personal calling, driven by my deep belief in the necessity and profitability of this technology. Despite the many challenges it has encountered from the very start, my confidence in HUI’s success has never faltered. The funds will allow HUI to continue on its fundamental path to build the first plastic-to-hydrogen facility, with the assistance of future revenue from the acquisition of 49% of Ohrid Organics.
Comment: CEOs leading from the front are one thing, but today’s news from HUI of such significant financial support from Alexandra Binkowska is almost unheard of. Apart from the obvious commitment on her part, it provides a financial bridge for the company in the run up to Ohrid revenues coming on tap.
United Oil & Gas (UOG), the oil and gas company with a high impact exploration asset in Jamaica and a development asset in the UK has noted the recent rumours circulating in Jamaica media regarding its Walton Morant licence. UOG said the Walton-Morant Licence is a vast exploration area containing numerous promising prospects. It is committed to improving its understanding of the resource potential within the licence area. It continues working to secure a strategic partner to unlock the immense potential within the licence, including recent positive interest that has been shown by several parties. Following securing an extension to the licence, its 2024 work programme is underway, and it will update the market at the next suitable opportunity.
Comment: One is perhaps not sure which high level publication the speculation came from, but it is the case that supporters of the company have a lot riding on Jamaica being a win.
Power Metal Resources (POW), the London-listed exploration company with a global project portfolio, announced an update on the intended formation of a uranium-focused JV involving Power Metal’s entire portfolio of uranium licences, with ACAM LP. POW said the Parties are still working together to complete the Joint Venture and the closing of the transaction. Accordingly, the Parties have agreed to extend the period of exclusivity for the transaction to 13 September 2024. Whilst no guarantee of completion can be provided, the Parties fully expect completion within that period and the Company will update shareholders in due course.
Comment: We are reminded on social media that POW’s market cap is currently almost exclusively based on the value of its shareholding in Guardian Metal (GMET), with everything else including its uranium licenses thrown in for free.
Goldplat, (GDP) the AIM listed Mining Services Group, announced an operational update for the 4th quarter ended 30 June 2024, of the financial year just ended. The two recovery operations achieved a combined operating profit for the quarter of £4,360,000 (excluding listing and head office costs and foreign exchange losses) which represents a 267% increase against Q4 in the previous period (Q4 2023 – £1,188,000). GDP said it was very pleased with the strong operating results achieved by the group during Q4, specifically in Ghana. The major focus for the Group is on local beneficiation of material in Ghana, processing of its TSF, review of various cost elements and re-aligning its business in a declining gold market in South Africa.
Comment: The London market has been very good to date in not marking up its coterie of gold stocks, where producing or not. It may be too much for it to do so with GDP, even after today’s stellar update.
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