Skip to main content

Your stock market edge

CleanTech Lithium (CTL), an exploration and development company advancing lithium projects in Chile, confirmed the drilling of the second well has started in the recently commenced drilling programme at Laguna Verde. CTL said after the successful fundraise towards the end of 2023, we have started off the new year with an active drilling programme to further advance our resource evaluation at the Laguna Verde lithium project.

Comment: Rather impressively, CTL has two rigs running simultaneously in a 24 hours a day operation. The results and reinjection information will feed into the commercial value of Laguna Verde. One would expect the shares to squeeze higher ahead of a Webinar being hosted by Daniel Fox-Davies on Wednesday 24th January.

Synergia Energy (SYN) updated regarding the Cambay PSC Farm Out. The company said progress has been made on the farm out agreement and joint operating agreement and the Company and the Farminee are aiming to execute these agreements before the end of January 2024.

Comment: It looks as though patient shareholders of SYN will finally get what they have been looking for by the end of this month. Ideally, the share price moves ahead of this timeline.

Empire Metals Limited (EEE), the AIM-quoted resource exploration and development company,  announced the analytical lab results from the recently completed Reverse Circulation drilling programme at the Pitfield Project in Western Australia, which has successfully identified extensive, shallow zones of high-grade, bedded sandstone-hosted TiO2 mineralisation.  The company also said it has raised £3 million at 11p to a strategic investor in Saudi Arabia and existing shareholders. EEE said its third RC drilling campaign is scheduled to start this quarter and it was extremely excited by the prospect of making further high-grade discoveries along the 40km by 8km giant mineral system as well as providing additional metallurgical samples of the already proven areas of near surface, higher-grade mineralisation, which it sees as integral in supporting an economic mine development plan.

Comment: EEE really has been the gift that keeps on giving to its shareholders, with ongoing newsflow like today’s supporting what has already been a stellar bull run. The placing goes a decent way in de-risking the company near term.

ANGLE (AGL), a liquid biopsy company, announced the publication of a peer-reviewed paper in a special issue of the journal – “Current Issues in Molecular Biology” Special Issue: Advanced Solutions for Cancer Therapy. AGL said as the revolution in ‘omics’ data evolves, the importance of CTCs to extract genomic and phenotypic profiling information is becoming increasingly evident, providing valuable and potentially actionable data that, subject to further study, may be used to guide patient management decisions in a way that is not possible using only ctDNA.

Comment: AGL shares had a stellar run at the beginning of this month, and it could be argued that after the pullback and today’s RNS, they should be set to go further.

Shanta Gold (SHG), the East Africa-focused gold producer, announced its production and operational results for the Quarter ended 31 December 2023. SHG said it was pleased to have surpassed its production guidance for the year – despite a moderate slowdown at New Luika – enabling it to benefit from a strong gold price environment with healthy returns to investors.

Comment: Shares of SHG have rallies well since the summer, although it could be argued that given the production guidance beat, they should have done even better.

SolGold (SOLG) provided an update on the Company’s current initiatives and ongoing activities. SOLG said it continues to progress various initiatives, including the strategic review. Since returning to Ecuador on January 2nd, it has also had the opportunity to engage directly with government officials and local stakeholders. The commitment from all parties involved has been outstanding, and it was optimistic for the future of the Ecuadorian mining industry as a real driver for economic development.

Comment: Despite a brief spike to the upside last month, shares of SOLG still do not reflect the on the ground improvements for the company, as well as higher gold prices.

eEnergy (EAAS), the net zero digital energy services provider, announce that it has entered into an agreement to sell the Company’s wholly owned energy management division to Flogas Britain Limited for initial consideration of £29.1 million, and additional contingent consideration based on the trading performance of the Energy Management Division for the period to 30 September 2025. EAAS it was said pleased to announce this agreement to sell its Energy Management Division to Flogas. Once approved by Shareholders, the Transaction will unlock significant immediate cash for eEnergy and give the opportunity to deliver significant additional value to shareholders through the Earnout Period. Whilst Energy Management is the smaller by revenue of its two divisions, the initial transaction proceeds alone will be c. 90% of eEnergy’s current market capitalisation.

Comment: £29.1m is no small chunk of change, once again underlining that EAAS is in a very hot space of the market, something which its shareholders continue to benefit from.

More Acquisitions (TMOR) announced a placing as well as board changes designed to facilitate the Company’s next phase of growth. Rod McIllree, Executive Director of More Acquisitions said today marks a significant point in the evolution of More Acquisitions. The appointment of Neil and Stanley to the Board of the Company marks an exciting step towards the execution of a reverse take-over which is expected to be value enhancing for all stakeholders. They begin their tenure on a positive note by investing in the Company at a significant premium to the market thereby confirming their faith in their stated objective of value creation.

Comment: After the bunfight at the end of last year, it would appear that a premium placing and management changes could be what TMOR needs to win the fundamental war.

Cloudbreak Discovery (CDL), the natural resource project generator, provided an update on its portfolio of assets and projects and to redefine its strategic focus. CDL said the combination of Cloudbreak tradeable securities, debentures and the projects enable the Company to position itself well going forward. It intends to create and build new revenue streams enabling the Company to successfully build a stronger underlying value proposition.

Comment: Hats off for trying is probably the best that can be said here, after all the disappointment over the past couple of years. The concept of being a project generator in an expensive money era looks to be the one tested.

Eco (Atlantic) Oil & Gas Ltd. (ECO), the oil and gas exploration company, announced that its wholly owned subsidiary, Azinam Limited, has received final government approval for the farm out of its 6.25% Participating Interest in Block 3B/4B to Africa Oil Corp. announced on 11 July 2023. ECO said with respect to Block 3B/4B, it was pleased to have received final approval from the South African Government for its transaction with Africa Oil, which now paves the way to completing a further farm out in respect of the Block and the drilling of its identified targets of up to five wells.

Comment: ECO shares have stabilised in the past weeks, and today’s news regarding a further farm out should be enough to get the stock at least back towards the mid teens by the end of next month.

Oriole Resources (ORR), the AIM-quoted gold exploration company, reported sampling results for its 90%-owned Mbe orogenic gold project in Cameroon and that BCM International Limited has now confirmed it has completed its due-diligence review at the Project. ORR said these very strong gold results support its belief that the Mbe licence has the opportunity to host significant gold deposits. As part of the wider Eastern CLP, the prospects tested by this programme at Mbe appear to represent the northern edge of the proposed ‘mineralised corridor’, that runs across all five licences.

Comment: Shares of ORR have soared since November, with little fanfare on social media, apart from regular price target raising in the Bulletin Board Heroes. Today’s update from the company backs the idea of yet further upside.

Eden Research (EDEN), the AIM-quoted company focused on sustainable biopesticides provided the following unaudited trading update for the year ended 31 December 2023. Revenue for the year is expected to have increased by approximately 72% to £3.1m, £0.3m, or 11%, ahead of market expectations of £2.8m (FY2022: £1.8m). EDEN said in 2023 it achieved several key regulatory and commercial milestones resulting in solid sales performance and revenues which have exceeded market expectations.

Comment: Last month saw shares of Eden attempt a lasting turnaround, something which today’s update alludes to. Ideally, the stock now remains on the right side of 5p.