LifeSafe (LIFS), a fire safety technology business, announced the launch of its new Pre-Trauma Fluid, a unique, non-conductive coolant fluid designed specifically to prevent thermal runaway in battery packs which can be caused by overheating, overcharging or damage. LIFS said it was proud to announce its new PTF fluid and two exciting industrial contracts that also sees the beginning of new revenue streams for the business. Its partnership with Xerotech will take its new, unique and innovative fluids into a wide range of industrial sectors with an industry leader and innovator. It was equally very pleased to announce a partnership with Reacton following its first purchase order of the PTF.
Comment: One would imagine that today’s news from LIFS will do quite a lot to unwind the sell off in the stock in the wake of last month’s trading update. The partnerships and new fluid launch will be decent fundamental drivers.
Eurasia Mining (EUA), the palladium, platinum, rhodium, iridium and gold mining company, provided a general corporate update. The Company’s cash assets at 30 November 2023, were approximately £517,000, and has sufficient working capital to meet ongoing obligations until the end of Q1 2024. EUA said it appreciated its shareholders’ support as it continues to pursue the possible sale of its Russian assets. Its main project at West Kytlim has seen no production of concentrate through 2023. It has maintained the assets in a sale ready state.
Comment: EUA shares have clearly been reflecting the cash position of the company. Ideally, we finally get sale news ahead of the need for fresh working capital.
Polarean Imaging (POLX), a commercial-stage medical device specialist in advanced MRI of the lungs, announced that it has received its first de novo order for a new XENOVIEW™ polariser, and provides a comprehensive update against the five growth initiatives set out at its interim results. POLX said it was delighted to have received its first de novo polariser order from a top-tier academic medical centre. It has made strong progress in all other areas of the growth initiatives established at the interim results, and it believes that it is setting the correct foundations to enable the XENOVIEW technology to be a commercial success. While it is assessing various financing options, it is confident that it will be able to finance the Company for the medium term.
Comment: Today’s order news is the kind of driver required to help POLX get the financing it is looking for, but of course funding is the biggest issue for small caps these days.
CAP-XX (CPX) said it has successfully filed two international patent applications, strengthening its patent protection for its supercapacitor technology in over 150 countries. CPX said it was thrilled that it has been able to reinforce its intellectual property portfolio and secure global protection for these new technologies. It plans to deliver its new SMT products in tape and reel packaging to allow and support its customers in producing them in high volumes. Meanwhile, it has already passed all the required feasibility testing on a production coating line for its new polymer system.
Comment: Shares of CPX have already rallied significantly from their lows in recent weeks, something which one would expect to continue given the latest patent news underpinning its IP.
Marula Mining (AQSE: MARU), an African focused mining and development company, confirmed that further to the announcement on 1 December 2023, the early arrival of new ore processing equipment at the Blesberg Lithium and Tantalum Mine which is part of the Company’s expansion to its ore processing capacity to increase production to up to 5,000 tonnes per month of a high-grade lithium spodumene saleable product in Q1 2024. MARU said its proposed expansion to the processing capacity at Blesberg has moved ahead at speed and has only been achievable through the combined efforts of its management team at Blesberg, the team at Q Global Commodities and the Rados International Technologies team in South Africa.
Comment: While most other companies just talk about their potential production, we see MARU moving to ramp it up early in the new year. The shares look poised to hit new highs through 16p ahead of this happening.
Hummingbird (HUM) announced a corporate strategy update and an underwritten equity placement, part of which is subject to, inter alia, shareholder approval. HUM said today’s announcement of an equity placement, corner-stoned by CIG demonstrates the ongoing support for Hummingbird to implement its growth strategy. The Placement strengthens our balance sheet, increases our exploration activities, and advances the Dugbe Gold Project, through the soon to be controlling interest it has now established in Pasofino. The revenue protection strategy also locks a portion of its FY-2024 gold production as it moves to materially deleverage and strengthen its balance sheet. With the ramp-up of Kouroussa progressing, it is set to reach full commercial production in early FY-2024, and remains on track to be a c.200,000 oz per year gold producer next year.
Comment: The key here for HUM is deleveraging and strengthening its balance sheet, something which comes at a time of a record gold price.
Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary green hydrogen production system, announced it has signed a MOU with the University of Bristol to collaborate to advance respective technologies, secure funding for joint research and development and accelerate commercial opportunities. HFI said its electrolyser has demonstrated exceptional efficiency in testing to date and the technology has been identified by UoB as a perfect fit for their HyDUS project. Having access to sites in the UK to develop and demonstrate the complete green hydrogen system, from generation to utilisation, is very important to both parties.
Comment: HFI gets more validation, if it was needed, from the latest MOU. The market is yet to wake up to the opportunity here.
Chill Brands (CHLL), the consumer packaged-goods distribution company, provided an update on its trading, focussed on positive developments around its Chill ZERO nicotine free vapes and the Chill.com marketplace. Purchases have now been made by more than 200 individual customers and the Company expects sales of its products on the Amazon platform to continue to expand in 2024.CHLL said it has come a long way during 2023 and it is incredibly proud of the significant milestones it has achieved. The coming months will see it take action on its plans to expand the retail footprint of itsChill ZERO products, secure new listings with major retailers, and further define its Chill.com marketplace as a go-to destination for health and wellness including alternative products featuring hemp, nootropics, adaptogens and other popular natural ingredients.
Comment: Footprint is one thing, sales is another. It is good to see 200 plucky vapers take the plunge to date on Amazon.
Byotrol (BYOT), the antimicrobial technology and products developer reports it interims to September. Sales at £2.2m are flat reflecting a change in product mix with an increasing concentration of activities on primary market of animal health and there were no licensing sales in h1. The EBITA loss increased to £0.45m and a loss of £0.7m, there is net cash of £0.51m. Commission and royalties from delayed existing IP agreements are now expected to be material to for the year-end March 2024 and supported by recent or upcoming product launches of long-lasting sanitisers in the US, UK and EU.
Comment: BYOT has been on AIM for about two decades. At 0.52p and a £2.54m mkt cap there is still a reasonable chance that new IP licences and product sales will help the share price to recover. It is taking a long, long time.
Cornish Metals (CUSN), a mineral exploration and development company focused on its South Crofty Tin Project in Cornwall, United Kingdom, provided an update on the progress of dewatering of South Crofty Mine. CUSN said the start of dewatering of South Crofty Mine was an important milestone for the Company and it is pleasing to see the water level in the NCK shaft dropping faster than expected over the last month. It remains focussed on its objective to complete the dewatering of South Crofty within 18 months.
Comment: One would have thought that it would be possible to “dewater” the Bristol Channel in 18 months. Such news suggests that shareholders of CUSN regard patience as being a virtue.