Ananda Developments (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines, announced the appointment of Vitalii Ratushnyi as an adviser to the Company with a focus on data and analytics. ANA said it believes its ability to get to grips with large biological and genetic data sets will help it find opportunities for its cannabinoid medicines, guide the design of clinical trials and will be a cornerstone of its success. This work is critical for the rapid development of its clinical trials pipeline and intellectual property estate.
Comment: It is clear that ANA is intent on beefing up its team, especially given that so much of what it intends to do to develop the business will be reliant on number crunching.
Filtronic (FTC), the designer and manufacturer of products and sub-systems for the aerospace, defence, telecoms infrastructure and space markets, announced two contracts worth a combined £7.6m and Interims to November. The Interims report Revenue little changed at £8.5m and a fall back into losses of £0.5m against a £0.5m profit with net cash of £1.2m. The significant contract wins are with a leading global provider of low earth orbit satellite communications equipment. This is the third and largest production order to date and shows increased customer confidence in Filtronic technology following initial field deployment. All very high-end stuff and will eventually feed through to consistent profits and growth.
Comment: At 25.5p the mkt cap is £55m it’s not cheap but it was big order with perhaps more to follow it does seem a good time for a placing.
Futura Medical (FUM), the consumer healthcare company, provided a trading update for the year ended 31 December 2023. FUM said it was helping to address an issue that impacts 1 in 5 men globally across all adult age brackets, with approximately half of all men over 40 experiencing ED and 25% of all new diagnoses being in men under 40. The availability of Eroxon as the first over the counter ED product, significantly improves access for men or their partners without the normal cost or embarrassment issues often associated with consultation of a healthcare practitioner.
Comment: It is shame that the further that FUM seems to get along the line, the softer the share price. It remains to be seen whether December support near 25p holds in the wake of the latest update. As things stand this is not a done deal.
Fusion Antibodies (FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, announced that it has received a follow-on project under a collaborative research and development agreement with a US based biotechnology company. FAB said whilst it is not anticipated that revenues from the new Follow-on Project will substantially impact revenues in the current financial year, it provides a valuable bedrock for the following year. It looks forward to continuing to build on the excellent relationship with its Client and to repeating the success with more ITAS projects in the future.
Comment: FAB shares have been stirring in a positive way of late, and bargain hunters will be hoping that today’s news will help the stock rebound at least a little further.
Hydrogen Utopia International (HUI), a company specialising in the conversion of non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials, or distributed renewable heat, announced that it has reached an agreement for the acquisition of 13,567 square meters of land adjacent to King Fild’s medical cannabis facilities. HUI said it was actively searching for a government that is supportive of waste plastic to hydrogen facilities. The rapid development of the King Fild medical cannabis facilities prove that North Macedonia embraces progressive, novel projects and further, that projects can be completed relatively fast. Following the anticipated acquisition of 49% of Ohrid Organics, it is expected that the cashflows from Ohrid Organics will substantially contribute to rolling out a waste plastic to hydrogen facility, likely in North Macedonia, and prove that the concept works.
Comment: More land means more revenue for HUI to build its beloved waste plastic to hydrogen facility, as well of course as de-risking itself with non-dilutive funding.
Power Metal Resources (POW), the London-listed exploration company, announced an update from its 100%-owned Tati Gold Project, located on the Tati Greenstone Belt near Francistown, Botswana. POW said this gold soil sampling programme has delivered quite remarkable results in terms of a confirmation of the significant area mineralised and also the consistency of positive results across the areas tested. Each stage of work at Tati has delivered extremely positive findings and it was more confident than ever that the Project holds very significant value for the Company.
Comment: POW continues to build momentum in terms of exploration, so soon after the recent well received fundraise. One would expect the shares to continue to make progress from the 1p zone, off the back of the latest news.
Oracle Power (ORCP), an international project developer, announced the completion of a technical and commercial feasibility study relating to the proposed hybrid renewable power plant for the group’s green hydrogen and green ammonia project in Pakistan. ORCP said this Study for 1.3 GW of renewable power at its site in Jhimpir contributes significantly to further de-risking the Project and provides a clearer pathway for accelerated development activities. It continues to work on the completion of the grid interconnectivity feasibility studies in collaboration with SGCC, as well as geotechnical and environmental studies, which will follow soon after, leading it into the FEED stage and future confirmation of potential off-take and financing arrangements.
Comment: Given that we have seen proof of concept in terms of ORCP’s project development handle in Northern Zone Australia, it is pleasing to see the company move things forward in Pakistan on a much larger scale.