Light Science Technologies Holdings (LST), comprising three divisions: Controlled Environment Agriculture; Contract Electronics Manufacturing; and Passive Fire Protection, announced a trading update for the 12 months ended 30 November 2024. Group revenue increased by approximately 29% to c.£12.0m for the Period (2023: £9.3m), underpinned by strong trading across all divisions. Gross margins grew to c.28.0% (2023: 23.4%), with losses for the Period reducing substantially to c.£0.2m (2023: £1.1m loss). LST said its key focus is on continuing the profitability we have seen in H2 with increasing levels of margin contributions from PFP and CEA; and by realising further efficiency gains across the Group.
Comment: LST is starting to deliver strongly as a mini-conglomerate, and this is all the more significant given how the run up to a company moving into the black can very often be the sweet spot in its stock market cycle.
Contango Holdings (GCO), a company focused on unlocking value from the +2 billion tonne Muchesu coal project in Zimbabwe, said that following the publication of the Company’s Annual Report for the year ending 31 May 2024, the Company’s shares will be restored to the Equity Shares (Transition) category of the Official List and to trading on the Main Market of the London Stock Exchange today. CGO said it was pleased to confirm the recommencement of trading, which also coincides with a number of positive developments at Muchesu, including the commencement of operations through the recently installed 3,000 tonne per day Dense Media Separation plant and the expectation of our first royalty payment this month.
Comment: It may be that the suspension works in favour of CGO in delivering some pent up buying interest in the company, and allowing it to move along its timelines away from the slings and arrows of stock market volatility.
Vinanz Limited (AQSE: BTC), the publicly listed Bitcoin mining company with US and Canadian Bitcoin mining operations, announced its intention to apply for the Company’s ordinary shares to be admitted to the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange. BTC said a potential move to the LSE at such an exciting time in the global bitcoin sector, could potentially attract a broader pool of shareholders. Further updates on the LSE/FCA application will be announced as certain material events occur, however it advises that the board are working hard with its lawyers and advisers to gain LSE/FCA approval before year end.
Comment: Moving from Aquis to the Official List is quite an achievement, perhaps like going from gigging in pubs to playing Wembley Stadium in current stock market conditions. The fact that this is being achieved by a Bitcoin mining company makes this all the more special.
Greatland Gold (GGP) announced on 10 September 2024 that it had entered into a binding agreement with certain Newmont Corporation subsidiaries (Newmont) to acquire Newmont’s 70% ownership interest in the Havieron gold-copper project (Havieron), 100% ownership of the Telfer gold-copper mine, and other related interests in assets in the Paterson region. GGP said the closing of our acquisition today is a watershed moment for Greatland. Greatland’s discovery of the world class Havieron orebody in 2018 established its platform for growth.
Comment: With everything signed and sealed for GGP, the only thing left to happen is a proper re-rate for the shares as the company delivers on its “world class” potential.
Oracle Power (ORCP), an international project developer, announced an update from its Northern Zone Intrusive Hosted Gold Project. ORCP said as illustrated in the Leapfrog figures within this announcement, the mineralisation envelope and footprint continues to grow, with the 3D Leapfrog model being used to refine areas for the next round of drilling. The drilling which has been targeting higher grade shallow gold mineralisation, may lead to these areas being the future focus of reverse circulation and diamond drilling below the higher-grade oxide gold mineralisation to expedite the Project towards a maiden Mineral Resource Estimate (MRE).
Comment: For the first time in years shares of ORCP have gone up and stayed up, with this being achieved via positive news from outside its main Pakistan projects focus.
Chariot Limited (CHAR), the Africa focused transitional energy group, noted the press release made by British International Investment and GuarantCo announcing a US$100 million guarantee finance facility for Etana Energy (Pty) Limited, the South African electricity trading platform which is owned by Chariot (49%) and H1 Holdings (Pty) Limited (51%).
Comment: $100m of finance and unlocking up to $500m in renewable energy projects is clearly nothing to be sniffed at, especially given the African angle CHAR has.
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