Avacta Group (AVCT), a life sciences company, will hold an online shareholder event on Wednesday 13 December at 11:00 a.m. GMT. Avacta’s Chief Executive Officer, Alastair Smith, Chief Scientific Officer, Fiona McLaughlin and Consultant Chris Coughlin will present a detailed review of the AVA6000 clinical trial’s Phase 1a data, followed by an investor Q&A.
Comment: Shares of AVCT have been in something of a holding pattern since October’s spike towards 170p. It would be hoped that the presentation this month by the company’s bigwigs, should get the market re-focused again.
Fusion Antibodies (FAB), an Early Discovery Contract Research Organisation, announced its unaudited interim results for the six months ended 30 September 2023 and provided an update on recent commercial progress. FAB said it was particularly encouraging to see its newer offerings also being well received with its first AI/ML-AbTM contract being successfully completed and, post-period end, securing the agreement with the NCI to help validate OptiMAL®. Both of these developments are having a positive impact on market awareness and engagement.
Comment: FAB has done well to manage expectations, in what is still going to be a significant job to get the company positioned in the wake of its first AI/ML-AbTM contract. That said, the recent sharp spike in the stock shows that some have already seen the potential here.
Wishbone Gold (WSBN) announced an update on the results of this year’s exploration programme and updated modelling efforts at its Red Setter prospect located in the Paterson Range in Western Australia. The results confirm a significant gold system with a mineralised strike over 3km. WSBN said considering Telfer is one of the largest gold mines in Australia and has an average gold grade of only 0.5g/t, its experienced consultant geologists are saying that Red Setter looks highly promising as a gold project of real potential scale and size with mineralisation now encountered over a 3km strike. It looks forward to continuing this drill programme once the diamond drill rigs mobilise to site next year.
Comment: There still seems to be a disconnect between what WSBN reports on and in the ground, and the dynamics of the share price. One wonders how much the company will have to announce in order for the shares to finally push above recent ranges?
CNS (CNSL), the specialist medical diagnostics company announced developments in its scientific education programme. CNS also highlights the industry events attended recently as it continues its drive to build relationships with healthcare practitioners as well as existing and prospective business partners. CNSL said collaboration with global and UK-based key opinion leaders in the nutritional science field is one of CNS’s core values and is a fundamental part of our scientific education programme. As a pioneer in personalised health and nutrition it is vital for it to be leading the way with webinars exploring emerging aspects of science related to gut health, and attending key industry events alongside these high-profile speakers.
Comment: It has to be said, CNSL seems really keen to shout from the rooftops as far as its latest developments, even though perhaps this RNS is more of a broad brush affair, than covering anything specific.
Ora Technology (AQSE: ORA), a specialist in retail carbon trading, announced the official public beta of Ora Carbon, a state-of-the-art carbon credit investing and trading app. Available now for iOS, Ora Carbon represents a significant advancement in enabling individuals to engage in the fast-growing carbon credit market. ORA said it was incredibly excited about the launch of Ora Carbon. This app is not just a breakthrough in carbon investment technology; it represents a pivotal shift in how society can contribute to environmental sustainability. Ora empowers every user to make a tangible impact on the planet, marking a significant milestone in our journey towards a sustainable future.
Comment: Today’s announcement is the one that Ora’s followers have been waiting for, and it will be interesting to see whether the share price responds in kind, especially given how important it is to get the carbon credit area into orbit.
Cykel AI (AQSE: CYK), a specialist in artificial intelligence solutions, announce the beta launch of its highly anticipated AI-Powered Task Operating System (Task OS). This important step forward in the field of business task management signifies a significant milestone for the Company and its commitment to redefining productivity and efficiency. CYK said the beta launch of Cykel AI’s Task OS on time and on budget represents a significant step forward in the company’s mission to leverage artificial intelligence for the betterment of productivity and efficiency across industries.
Comment: It will be interesting to see how Cykel promotes its business task management area, at a time when there are plenty of pretenders to this area. At least the company has achieved a decent start to its life on Aquis.
Thor Energy (THR) announced the final downhole uranium gamma results for the reverse circulation drilling program, at the Company’s 100% owned Wedding Bell and Radium Mountain Projects, located in the historic uranium-vanadium mining district within the Uravan Mineral Belt, southwest Colorado, USA. THR said these results confirm its expectations that it would achieve shallow high-grade uranium from the drilling program, highlighting the significant potential and exciting growth opportunities of its Wedding Bell and Radium Mountain uranium projects.
Comment: With uranium, quite rightly, currently hotter than July, it will be worth noting how much momentum THR gets off the back of today announcement. This is especially so given the extended bear run in the shares.
Alkemy Capital Investments (ALK) and its wholly owned subsidiary Tees Valley Lithium announced significant milestones in the development of TVL’s state-of-the-art lithium processing plant at the Wilton International Chemicals Park in Teesside, North East England. ALK said it was delighted to announce today a significant milestone in its journey. Awarding preferred vendor status to JordProxa and Eurodia is not just a testament to its commitment to excellence, but also a recognition of the innovative strides it is making in the industry.
Comment: Given how much fundamental progress that ALK has been making and continues to make, it is disappointing that the shares remain in the recent range under 140p. One would expect this 140p zone to be broken convincingly sooner rather than later, after news like today’s that underlines how much the company is on the map in the industry.
Pennpetro Energy (PPP), an independent oil and gas company focusing on development and production in the Peach Creek (Austin Chalk) Oil Field in Gonzales County, Texas, USA, is pleased to provide the statistics for the first full month of oil production from the Company’s 100% Chalk Talk #1H well. Oil sales for the month of November totaled 4,468 barrels. Pennpetro has an oil sales agreement in place that will see the oil it sells for the month of November paid to Nobel Petroleum, its 100% Texas subsidiary, on the 20 December. PPP said it was still seeing a generally increasing trend in its daily oil production, which is certainly highly encouraging, and it may take it another month or so to see the well finally settle down to a steady state flow rate.
Comment: The market has perhaps being a little churlish in appreciating what has been achieved at PPP, but with adequate production numbers, and the promise of this heading higher, one would expect the share price to respond in kind.
AFC Energy (AFC), a provider of hydrogen power and generation technologies announced the unveiling of its world first modular ammonia cracker system demonstrating the production of hydrogen in the UK from ammonia procured from OCI Global ((Euronext: OCI). AFC said with an ammonia cracker offering market leading efficiency, low power consumption and the production of fuel cell grade hydrogen, AFC Energy’s first pilot project is a major step forward in unlocking the barriers of hydrogen logistics and transport. The cracker system, in containerised form, will be capable of replication across Europe and Asia with its ability to generate low cost, decarbonised hydrogen from internationally traded green and blue ammonia being a key step forward in the evolution of the global hydrogen market.
Comment: AFC looks to have made a decent breakthrough, one that even current rather cynical market sentiment will have to appreciate. It is perhaps now all about scaling today’s achievement up geographically.
Argo Blockchain (ARB), a specialist in cryptocurrency mining, provided the following operational update for November 2023. During the month of November, the Company mined 145 Bitcoin or Bitcoin Equivalents, or 4.8 BTC per day. The Company was able to increase its daily BTC production in November by 5% compared to the prior month, despite a 9% increase in the monthly average network difficulty in November compared to October. Mining revenue in November 2023 amounted to $5.30 million, an increase of 25% compared to the prior month (October 2023: $4.26 million). The increase in revenue was driven primarily by the increase in the price of Bitcoin.
Comment: The market has not given ARB the kind of share price boost it did in the previous BTC spike, but one would imagine say, $50,000 plus anytime soon, and we shall see a decent run up towards 50p for ARB on sentiment alone.
Petrofac (PFC) announced that Aidan de Brunner has today joined the Company as a Non-Executive Director. Aidan brings to Petrofac over 20 years of board, management, investment and financial advisory experience gained across a variety of global businesses. PFC said the Board is examining a range of strategic and financial options with the objective of materially strengthening the Company’s balance sheet, securing bank guarantees and improving short-term liquidity.
Comment: It would appear that PFC has decided that bringing in a heavy hitter to steady the ship is the answer to the current share price woes of the company. However, the company suggesting that it is “examining a range of options” may have meant that even the equivalent of “Red” Adair would have his work cut out here in getting that stock price to rebound.
Bezant (BZT), the copper-gold exploration and development company, announced a fundraising of £800,000 to facilitate both its Namibian Hope & Gorob copper gold mining operation and other projects in the Company portfolio. Bezant has achieved significant progress with the development of the Hope & Gorob Project as it advances towards development of a mining operation upon the grant of a mining licence. BZT said the focus for the use of the Fundraising proceeds whilst it waits for the granting of a mining licence will be at the Hope & Gorob Project. It is encouraged by the outcome of detailed test work to the extent that it is now able to move towards advanced design of the processing plant and supporting infrastructure.
Comment: Full marks to BZT in getting an £800k funding away in current stock market conditions, and so close to Christmas. The obvious implication is that Hope & Gorob could be a company maker.