Hydrogen Utopia International (HUI), a company specialising in converting non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, informed shareholders that Ohrid Organics DOO based in North Macedonia, has completed the sale of €450,000 worth of THC medical cannabis. Payment will be in advance of shipment. HUI said with highly experienced professionals now leading the effort, Ohrid Organics DOO successfully completed its first sale and secured a contract that is expected to offset the losses incurred in 2024 and accelerate the Ohrid Organics program. HUI and Ohrid Organics remain closely linked, with HUI’s primary objective being the funding and development of its first plastic waste-to-hydrogen facility, which continues to be our primary focus.
Comment: Getting paid up front after its teething troubles looks good for HUI, especially given that most of its cannabis competitors do not even get to the production phase. With five greenhouses in place, and up to five crops a year, Ohrid’s production should in 2025 get up to a level that even Bob Marley would be proud of, albeit that it is strictly medicinal.
Gunsynd (GUN), an investing company, is pleased to provide an update in relation to the Bear-Twit VMS project in Canada. Ongoing digitisation and interrogation of historic data for the Project has revealed widespread, untested soil anomalism and further, high grade, drill-tested occurrences with outstanding zinc grades.
Comment: While the London market may not be that impressed with small explorers, in the case of GUN, the latest from its VMS project in Canada, may just move the dial.
Greatland Gold (GGP), an update on operations at its Telfer gold-copper mine. On 8 December 2024, the first gold bars under Greatland ownership were poured at Telfer.
Comment: GGP’s first gold bars feel as though they have been a long time coming, something which could yet be the driver for a proper re-rate for the stock. 2024 highs near 9p will still need some catching.
Panther Metals (PALM) the company focused on mineral exploration in Canada, is updated on the Phase 1 Diamond Drilling Programme at the Dotted Lake Project, the 100% owned exploration property situated on the north limb of the Schreiber-Hemlo Greenstone Belt in Ontario, Canada. PALM said that the current programme is subject to a pause whilst assay results are awaited. The drill rig is remaining on site to allow for a speedy mobilisation to site in early 2025 on the back of positive results, in keeping with Panther Metals stated intention to accelerate fieldwork.
Comment: Shares of PALM have recovered well since the October dip, and indeed, are potentially only a week or two away from a golden cross between the 50 and 200 day moving averages.
Vinanz (AQSE: BTC), the publicly listed Bitcoin mining company with US and Canadian Bitcoin mining operations, announced that it has received firm commitments to raise £1.5 million (gross) at 14.5 pence per share SUBJECT TO ADMISSION of the Company shares on the London Stock Exchange, as per the Company’s news release dated 4 December 2024. This conditional placing will be used primarily to expand the Company’s Bitcoin mining fleet in its North American Bitcoin mining operations and expand our operations into new US States in the new year. BTC said it is fantastic to gain this extra financial support as we move towards a potential LSE listing from existing and new potential shareholders. These extra funds will be channelled towards mining more Bitcoin in North America and building its strategic Bitcoin reserve.
Comment: With Bitcoin having already reached $100k, the time is ripe for BTC to press home its advantage both in terms of raising cash/scaling up the business, and moving to a LSE listing.
Light Science Technologies (LST), comprising three divisions: controlled environment agriculture; contract electronics manufacturing and passive fire protection, announced that on 06 December 2024 Simon Deacon, Chief Executive Officer, purchased 603,613 shares at an average price of 2.63p per share. Accordingly, Simon Deacon holds approximately 28.89 per cent. of the Company’s issued share capital. Additionally, Graham Cooley, Non-Executive Chairman, purchased 1,500,000 ordinary shares at an average price of 2.73p per share on the same date. Graham Cooley’s holding in the Company now totals approximately 8.71 per cent.
Comment: LST, as we saw from the recent record revenues, continues to fire on all three of its cylinders. The CEO leading from the front in getting up to nearly 29%, and its star investor Graham Cooley of ITM Power fame, should move the dial in terms of the valuation and sentiment.
IntelliAM AI (AQSE: INT), the software company leveraging the power of AI and machine learning in the manufacturing industry, announced its unaudited interim results for the six months ended 30 September 2024. Successful completion of IPO on the Aquis Exchange, raising gross proceeds of £5.08m on 3 July 2024. Successful completion of acquisition of 53 Degrees North Engineering Ltd for £5.187m on 4 July 2024, and therefore earnings for the period include 3 months of trading as a group. INT said it was pleased with the strong progress made in this first half, as it continues to execute on its strategic goals. The successful completion of its IPO and acquisition of 53 Degrees North Engineering have significantly strengthened our foundation, and it is starting to see the benefits of aligning its consulting expertise with the IntelliAM platform.
Comment: A new arrival to the market, with a decent acquisition under its belt, and a decent Aquis raise. All that is needed now is for someone (for instance, the RNS Hotlist) to shine a light on INT and the opportunity.
MicroSalt (SALT), a provider of full-flavour, natural salt with approximately 50% less sodium announced a supply agreement, along with an initial order, with Hippie Snacks, a Canadian company focusing on minimally processed, clean label food products. Rick Guiney, CEO of MicroSalt, said: it was very excited about the partnership with Hippie Snacks. They are a well-regarded, widely distributed family of products that has a mission that resonates with ours – to provide healthier food for everyone.
Comment: Having already had a decent recovery from the 30p’s, it is perhaps the case the SALT shares are already fully up with the latest news. That said, the partnership does look like a decent, fresh validation of the SALT concept.
Ananda Developments (AQSE: ANA), a company focused on the development of cannabinoid therapies for the treatment of a range of complex conditions, announced the further results from its research into the use of MRX1, one of its investigative CBD medicines, for treating heart failure. ANA said it was delighted to share these new findings. The demonstration by MRX1 that it significantly reduced NT-proBNP, a marker of heart failure, in mice provides compelling evidence of MRX1’s potential to address the underlying mechanisms of heart failure. As NT-proBNP is a key biomarker recommended by NICE, it will also serve as a critical measure of efficacy in any future human trials we can commission. Ananda is committed to advancing this research into transformative therapies for patients worldwide.
Comment: ANA continues to make excellent and significant progress with MRX1, something which was expected, but still continues to impress. With recent director buying underlining the opportunity here, it only remains for the market to upgrade the company accordingly.
Goldstone Resources (GRL) provided an update on the progress of operations in respect of the Homase Mine and heap leach operation in south-western Ghana. GRL said its ramp up at Homase continues at pace and it remains on track to deliver its stated objective of producing 1,000oz pcm from January 2025. November was a great month on site, with gold production up 34% from our yearly average, and we stacked a total of 45,000 tonnes of ore, supporting its upward production trajectory into next year. It has had constructive discussions with Blue Gold and its related parties and it was hopeful that this will reach a positive conclusion in the coming weeks.
Comment: Fair play to GRL for managing to extend its CLN repayment date, something which allows us to appreciate the operational progress this gold mining minnow is continuing to make. It could still pull a rabbit or two out of the hat.
Chill Brands Group (CHLL) the consumer packaged-goods distribution company, updated regarding its trading activities, ongoing legal proceedings, and efforts to complete its audit for the 2024 financial year. CHLL said while the delay in completing the Company’s audit is frustrating for investors and all involved, it was working hard and making progress with the relevant parties to complete and publish its accounts as soon as possible. In the meantime, it has been making headway with new product development and have established a new business stream to support its growth ambitions.
Comment: Although instinctively one admires CHLL for even attempting to keep the dream alive, the feeling here is still of a company attempting to run up a fast plunging escalator. In this context he fact that the shares are still suspended is probably a blessing as it offers a cocoon of comfort for long suffering shareholders not having to see the stock take further beatings.
Tavistock (TAVI) announced its unaudited interim results for the six month period ended 30 September 2024. TAVI said it was pleased with the significant progress we’ve made with the strategic refocussing of the Group’s activities, increasing its ability to provide solutions in the UK retail investment market. It anticipated that the non-advised provision of investment management services to the clients of third-party advice businesses and directly to the public will become a substantial part of Tavistock’s service proposition. Its debt facility with Bank of Ireland and cash resources following the disposal of its network of self-employed IFAs give it the wherewithal to expand its scope and profitability and it is in active talks with a number of targets.
Comment: Given the lay of the land, and given the likes of the FCA doing its best to destroy all aspects of the financial markets over decades, TAVI’s stoic efforts to rejig itself have to be admired.
boohoo Group (BOO) noted the publication of the voting recommendation from Institutional Shareholder Services Inc. (ISS), the independent proxy adviser, in relation to the Company’s forthcoming General Meeting. ISS has recommended that boohoo shareholders vote “AGAINST” the Resolutions at the General Meeting on 20 December, which seek Board representation for Frasers. ISS states that Frasers has offered a superficial view of performance and no specific plans for change and the two Frasers candidates, Mike Ashley and Mike Lennon, have real conflicts of interest, concluding that Board change at boohoo Group is not warranted.
Comment: Voting against the resolution that Ashley and Lennon turn up, sounds almost as bad as voting against McCartney and Lennon not joining your band.
Domino’s Pizza Group (DOM) announced that it has reached a new five-year framework with its franchise partners to capitalise on its significant long-term growth opportunity. In particular, it underpins its confidence in its targets of in excess of 1,600 stores delivering £2.0bn of systems sales by 2028 and 2,000 stores delivering £2.5bn of system sales by 2033 driving profit growth across the system.
Comment: £2.5bn of system sales over the next year sounds like a lot of potential diabetes. However, the recovery in DOM shares looks as solid as the rollout.
Woodbois (WBI) provided an update on significant operational and strategic developments as it continues to solidify its position in the global timber market. WBI said it was making progress in streamlining its operations and improving financial performance. By securing orders from known and reliable clients, enhancing payment terms, reducing costs, and taking proactive steps to maintain production during challenging conditions, it was building a stronger foundation for sustainable growth.
Comment: WBI has now been a recovery play for almost as long as it was a company on the back foot. Let’s see if all the sellers are actually out, and a proper business can be built.
EnergyPathways (EPP), an energy transition company developing low carbon integrated energy solutions in the UK, announced a strategic partnership agreement with Wood Group UK Limited, a subsidiary of Wood plc. Completion of MESH concept and pre-FEED activities targeted for January 2025. Agreement will enable EnergyPathways and Wood to move into the FEED and Engineering, Procurement, Installation, Commissioning management phases of the MESH project if the parties determine. Targeting Final Investment Decision for MESH at the end of 2025.
Comment: With the market still evenly divided on the merits of EPP, the company fights back with the message it is rubbing shoulders with blue chip counterparties and could be good to go by this time next year. Of course, the $64,000 question remains its up to £5m funder and who the sugar daddy actually is?
Empire Metals Limited (EEE), the AIM-quoted resource exploration and development company, announced exceptional results from the hydrometallurgical testwork carried out on heavy mineral concentrates from the Pitfield Project, located in Western Australia. Acid leaching of the anatase-rich heavy mineral concentrate from gravity testwork resulted in almost complete extraction of the titanium from the anatase. EEE said the result is major step forward in achieving a key objective of the Company to developing a process that will produce a high value +95% titanium dioxide (TiO₂) product.
Comment: Having somewhat dropped the ball in terms of market engagement and excitement in recent months. EEE returns with “exceptional” results. Ideally, there is more of the same in coming months to get the share price back towards 10p.
Pulsar Helium Inc. (PLSR), a helium project development company, announced the commencement of field activities at its flagship Topaz Project in Minnesota. The Company reports that personnel and equipment have begun arriving on-site, with deepening of the Jetstream #1 appraisal well set to commence when all equipment is on site and scheduled to conclude before the Christmas holiday. As part of this crucial phase, Pulsar plans to deepen the Jetstream #1 appraisal well by a minimum of 1,640 feet (500 metres).
Comment: Given that PLSR has come to the London market as one of the leading helium explorers in the world, with the massive US win already under its belt, and has only touched 13% of Topaz to date, the next phase of field activities could be transformational.
Thor Energy (THR) reported downhole gamma logging results (eU3O8) from a recently completed drilling programme at the Groundhog Project in Colorado, USA, nine (9) Reverse Circulation drillholes totalling 979m were completed at Groundhog Mine Prospect. Drilling was designed to test areas along strike of uranium and vanadium mineralisation from Thor’s successful 2022 and 2023 drilling programs. THR said these Saltwash-style Uranium deposits typically pinch and swell over relatively small distances, so we are pleased to have extended the known mineralised footprint by so much. On the flip side, we are ideally targeting high-grade horizons of several meters in width, so the intersections indicated in gamma logging from this programme are narrower than we had hoped.
Comment: Perhaps not the definite win that THR was looking for, but the company gets itself on the map, especially given the way that the market remains keen on uranium, and should become more so.
Pantheon Resources (PANR), an oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska’s North Slope, announced its results for the year ended 30 June 2024. Total comprehensive loss for the year of $11.6 million, as compared to $4.6 million in fiscal 2023, with non-cash items accounting for the majority of the year-over-year change. PANR said the past 18 months have seen extraordinary progress in three key areas. We received independent validation of the Company’s contingent resources base at 1.6 billion barrels of ANS crude. We funded and are executing the Megrez-1 well programme, with its potential to add up to a further c. 40% to the overall resource base. We secured a path to potential monetisation of the 6.6 trillion cubic feet of natural gas in a way that may support the development capital needs from Ahpun FID.
Comment: Billions of barrels are mentioned in almost every RNS, but PANR is still looking to get to profitability. Although to be fair, the journey remains a work in progress.
Orosur Mining Inc. (OMI), announced an update on the progress of exploration activities at the Company’s flagship Anzá Project in Colombia. OMI said that results from PEP013 are little short of exceptional in terms of thickness and grade, especially from surface. But of equal importance is the information this hole has provided in relation to the form and orientation of the Pepas mineralisation. A few more like this and perhaps we can then start to step out and define its size.
Comment: OMI is finally breaking out of the stubborn 2p – 6p trading range it has occupied for so long, something which should give way to a major re-rate for the shares, especially given RNS updates such as we have been treated to today.
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