Shield Therapeutics (STX), a commercial-stage pharmaceutical company, announced topline results for Q4 2023 and provides an unaudited trading update for the year ended 31 December 2023. STX said the progress made in the market in 2023 has shown it that the opportunity for Accrufer® continues to be significant. Quarterly prescription numbers grew throughout the year and it saw a significant improvement in the average net selling price in the second half. It was also excited its new CFO, Santosh Shanbhag, has joined the team bringing both strategic and financial leadership to our organization. Its partnership with Viatris continues to progress very well and it remains steadfast in its goal to make Accrufer® the oral iron of choice for patients.
Comment: STX remains something of an enigma in terms of the London market’s coterie of biotechnology plays. It will perhaps become even more enigmatic after today’s rather painful share price dip.
Zinnwald Lithium (ZNWD), the European focused lithium company, announced the publication of an updated independent Mineral Resource Estimate for its 100% owned Zinnwald lithium project located in Saxony, eastern Germany. ZNWD said it was delighted to be able to announce a substantial increase of our Mineral Resource at the Zinnwald Project with a 3.4x increase in contained lithium in the Measured and Indicated categories. This establishes the Project as the second largest hard rock lithium project by both resource size and contained lithium in the EU and clearly highlights its scale and strategic importance.
Comment: A massive MRE upgrade is delivering a share price rise, something which reminds us that the shares of ZNWD have been unfairly on the back foot for quite some time.
Croma Security Solutions (CSSG) report Interims to December. The core business Vigilant which is manned security in stores was sold last year for £6.5m. Sales at the continuing operations Croma Locksmith and Croma Fire & Security, improved 14% to £4.26m with increased EBITDA of £0.51m. Momentum is building in H2 with a solid sales pipeline and the recently re-awarded three-year maintenance contract with the NHS Trust to cover the hospitals security. Two profitable locksmith businesses, with a combined turnover of £0.5m were acquire in January. This is part of the acquisitive growth strategy to build sales network and product range. Net Cash is £1.73m and they are contractually to receive £5.78m from the sale of Vigilant in March 2024 with the final payment scheduled for June 2026.
Comment: The price increased from 43p to 67p this year to mkt cap of £9.2m and a P/E of cir. 16x in anticipation accelerating moderate organic growth with acquisitions and further deals seem likely.
Power Metal Resources (POW) the London listed exploration company, announced its consolidated audited results for the year ended 30 September 2023. POW said In addition to the multiple potential district scale exploration and development projects currently within the portfolio, it continues to seek new opportunities for shareholder value creation. A number of such opportunities are currently in the pipeline and the Board remains confident that with ongoing operations and also as junior resource and commodity market conditions normalise, the Company is in an excellent position to deliver value to shareholders.
Comment: POW has been changed considerably under the fresh leadership of CEO Sean Wade. Firing on multiple fronts, and with star investor Rick Rule in the mix, as well as hot commodity uranium, one would expect the shares to return to the right side of 1p.
TomCo Energy (TOM), the US operating oil development group, announced that the Company has raised, in aggregate, gross proceeds of £300,000, by way of a £200,000 placing and a £100,000 subscription at 0.045p. TOM said the Fundraise has been undertaken to provide additional funds towards the Company’s anticipated expenditure as it seeks to progress its plans for its wholly owned subsidiary, Greenfield Energy LLC, in relation to the Tar Sands Holdings II LLC site located in the Uinta Basin, Utah, United States.
Comment: It can now be seen that the recent slight rebound in TomCo shares was the prelude to today’s update. One hopes the cash raised will actually lead to actual on the ground progress.
Feedback (FDBK), the clinical infrastructure specialists, announced its audited results for the six months to 30 November 2023. The company also announced that radiology specialist Medical Imaging Partnership has agreed to pilot Bleepa-CareLocker, in order to deliver multiple clinical pathways to its customers in the UK private healthcare sector. FDBK said it was delighted with the increased traction for its core products as customer recognition, new contracts, and positive impact data all point towards the same conclusion; that Bleepa is both ideally suited and uniquely positioned to connect medical professionals safely and securely, and there is a compelling case that could see it become a third pillar of build for the expanding NHS CDC programme.
Comment: Shares of FDBK are down by two thirds since this time last year, something which clearly will require some decent newsflow to counteract. Today’s update may be a start.
EnergyPathways (EPP), an integrated energy transition company, announced the signing of a MOU with MCS Subsea Solutions Limited and Mermaid Subsea Services in relation to negotiating the provision of subsea FEED engineering, project support, procurement and offshore construction services for its wholly owned and operated Marram field project in the UK Irish Sea. EPP said the signing of this MoU is an important step in ensuring the necessary subsea expertise and project support capabilities are in place to deliver the Marram Project utilising cost-effective and timely project delivery solutions. The Marram Project will provide affordable and reliable low emission energy to the UK market, while offering security of energy supply and commercial returns to its investors.
Comment: EnergyPathways delivers a business like RNS, something that the shares need to continue the latest tentative rebound we have seen in the wake of the company’s IPO in December. However, the company will need to keep the fundamental momentum going to get back to the initial 4p plus share price.
Ondo InsurTech (ONDO), the London-listed leader in water damage claims prevention technology, announced that it has signed an agreement with Selective Insurance Group the US-based Property and Casualty carrier for Selective to offer LeakBot to its eligible homeowners policyholders. ONDO said it was pleased to add another well-known US insurer to its list of partners and it shares the same ambitions and aspirations as Selective – to use technology to protect the homes of families and reduce the risk of property water damage.
Comment: The shares were covered yesterday in the Bulletin Board Heroes charting video, on the basis that they are rather overdue a fresh leg to the upside. Today’s news should deliver the start of new bullish phase.
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