Ananda Developments (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines said it was pleased to announce the appointment of Professor Cherry Wainwright and Dr. Katie Sloper, PhD as scientific advisers to assist the Company in developing its in-house capabilities and pipeline of clinical trials. ANA said having worked with Cherry and Katie for some time, it was delighted that they are joining Ananda as scientific advisers to support its objective of gaining approval for MRX’s cannabis-based formulations to be used in the NHS. Strengthening its team with these highly regarded scientists will both enhance its scientific capabilities and help its to target its research and development efforts even more effectively.
Comment: ANA starts 2024 on the front foot with the latest appointments, all the while keeping its eye on the prize, which is making as much progress for MRX with the NHS.
Jubilee (JLP), a diversified leader in metals processing with operations in Africa, announced an operational and projects update to 31 December 2023. The Group has delivered a robust Q2 operational performance and remains on track to deliver against the production guidance for the 2024 financial year. JLP said in the face of a dynamic and challenging global market, it has continued to demonstrate resilience and adaptability, delivering a strong operational performance in the second quarter of the 2024 fiscal year. Its commitment to operational excellence and strategic growth is evident in its robust production figures and sustained progress across key projects.
Comment: Given the way that for a company such as Jubilee is concerned, it is all about production, it seems unfair that even with improving updates like today’s, the shares are still relatively low in the range.
Great Southern Copper (GSCU), the company focused on copper-gold and lithium exploration in Chile, announced that the scout drilling programme at the Abundante prospect has been completed and drilling has commenced at the Teresita prospect. Both prospects are within the Company’s Especularita Cu-Au project located in the coastal metallogenic belt of northern Chile. GSCU said Preliminary target-concept drilling is now completed for the Abundante mine prospect where the Company is targeting high-grade copper associated with tourmaline breccia. All of the drill chip samples are at the laboratory and it looks forward to updating the market on the results when they become available.
Comment: Shares of GSCU have been in consolidation mode since the end of the summer, and one would expect that in the wake of news such as today, a fresh leg to the upside should be on its way.
Atlantic Lithium (ALL): Assore have gone up from 25% to 28% according to the latest TR1.
Comment: It would appear that Assore’s ongoing stakebuilding should lead towards a M&A event sooner, rather than later. The only missing piece of the jigsaw is why the ALL share price remains near the low end of the range.
Brave Bison (BBSN) trading update for the year-end December is reported and is above expectations. On a 23% increase in Net Billings to £20.8m the PBT increased 38% to £3.6m with EPS 0.28p. BBSN ambition to become a market-leading digital advertising and technology services company was advanced with the acquisition of SocialChain, a Social Influencer for £7.7m early last year. The Performance division plans media champagnes on platforms such as Goole, Meta, TikTok, Amazon and Youtube. The Digital Media market worldwide is projected to grow by 8.4% (2023-2027) resulting in a market volume of US$797.10bn in 2027. Net Cash of £6.8m should be sufficient to achieve organic growth plans and perhaps an add-on acquisition.
Comment: The Chairman Oliver Green paid 1.9p a couple of months ago so at 1.85p and a £23.8m mkt cap the prospective P/E of 7x seems low given that its growth in a growing sector seems set to accelerate.
Vinanz (AQSE: BTC), the London-listed Bitcoin mining company, announced that the Luxor Firmware is now starting to be deployed into the Company’s Canadian Bitcoin mining fleet installed in the BlockLAB facilities in Labrador with excellent results already evident. BTC said to see an increase in processing speed of over 10% in our Canadian based Bitcoin mining fleet, as it rolls-out the Luxor Firmware, is very impressive indeed. As it rolls out this software to over-clock all of its 270 miners in Canada, it should expect to see an overall increase in Bitcoin generated capacity from these machines by at least 10% as well – a brilliant result. Hopefully it can have all of its miners in Canada spinning at faster rates by the end of February.
Comment: Vinanz has “dined out” well on the sharp rally in Bitcoin in the recent past, and it should be the case that the company will also benefit in share price terms, off the back of the latest 10% improvement.
Sovereign Metals (SVML) announced the appointment of SocialEssence (Pty) Ltd (SocialEssence), a specialist social performance consultancy, who will assist in the continued development of the Company’s stakeholder relations, social performance objectives and its Community and Social Responsibility (CSR) framework. SVML said the SocialEssence exemplary track record and implementation experience aligns with its objectives of establishing long lasting and sustainable community relationships well ahead of project implementation. The conservation farming program implemented by SocialEssence’s leaders in Zambia has stood the test of time and has over 7,000 participating farmers. It will continue to build out its owner’s team and capabilities while it works through Kasiya’s optimisation with Rio Tinto.
Comment: Given how many ESG hoops companies have to go through, especially in the resources space, the value of the kind of RNS delivered today by SVML cannot be over-estimated.
UK Oil & Gas (UKOG) announced that following the delivery of both PSI’s perforating and Aladdin Middle East’s swab testing equipment to site, Pinarova-1 testing operations have now recommenced. PSI’s larger 7-inch perforation guns will be deployed following normal site rig up and necessary safety and environmental checks. UKOG’s site representative will monitor and quality control the full operational programme. UKOG said the new larger 7-inch perforating guns, capable of fully penetrating Pinarova’s 9⅝-inch casing, will be deployed over the Germik/Hoya section where strong oil odours at surface were recorded over a 12-hour period during drilling and mobile light 42˚ API oil was recovered from the mud pit.
Comment: It is interesting that of late UKOG has delivered rather more technical and less showy RNS’s, almost as if it does not want to be seen as being a retail investor biased stock. Perhaps this angle may actually work to change the perception of the company.
Orosur Mining Inc. (OMI) the minerals developer and explorer, announced an update on the Company’s Anzá Project in Colombia. OMI said it has stated publicly on several occasions that our desired outcome is to retake control of Anzá, and if possible, to also resume 100% ownership of the Project. It has been working towards this objective for some months, but it is also focussed on the legal complexities of any such transaction, ensuring that any commercial terms do not negatively impact the viability of the Project going forward. It sees great potential at Anzá, and whilst there is no certainty this deal will complete, should it happen, it will then be in the driving seat and be able to take the initiative on the Project.
Comment: The market has been getting excited – in a relative terms, by progress at Anza. It may be that the disclaimer that there is “no certainty” this deal will complete could be regarded as something of a damp squibb.
NetScientific (NSCI), the deep tech and life sciences VC investment group, announced that its portfolio company Glycotest, Inc. has successfully closed a $1 million follow-on investment by Fosun Industrial Co., Limited. NSCI said it welcomes this additional funding from Fosun. Complemented by the 2023 CLA, these investments demonstrate strong financial support as Glycotest continues to progress towards commercialisation, including in the US and China. EMV Capital securing this third party funding is a further example of its capital efficient investment model, allowing Glycotest to grow without reliance upon the NetScientific balance sheet, and deploying its Value Creation Services team to underpin that growth.
Comment: Rather on the quiet NSCI has been ensuring that it has been getting its funding requirements over the line. It is a shame that to date these efforts have not been fully reflected in the share price.
Crimson Tide plc (TIDE), the provider of the mpro5 process management app, provided a trading update for the year ended 31 December 2023 ahead of publication of its FY23 Final Results in April 2024. TIDE said it was pleased to confirm that it expects FY23 EBITDA to be not less than £0.4m (FY22: LBITDA -£0.4m), exceeding the Board’s expectation at the time of the Interim Results in September 2023. Turnover for FY23 is expected to be £6.2m; 15% ahead of FY22. It expects its healthy gross margin to improve to not less than 85% (FY22: 83.5%) due to efficiencies gained from product enhancements and hosting. This, combined with a strong cash balance of £3.3m (FY22: £3.6m), means that the Company is well positioned for growth in FY24 and beyond.
Comment: Given that cash remains king, and that TIDE currently has a decent amount of it, one would expect its shares to rebound over the near term. This is especially the case in the wake of the better metrics from the company revealed today.
Boku (BOKU), a provider of global mobile payment solutions, announced an unaudited trading update for the financial year ended 31 December 2023. Adjusted EBITDA is expected to be at least $27.3m, up 33% from $20.5m in 2022, and ahead of current market expectations, despite continued investment in Boku’s mobile-first payment network with adjusted EBITDA margin of approximately 33%. BOKU said its full year results are positive affirmation that the Company’s strategy, to build a global network of local payment methods (LPM’s) for some of the world’s largest merchants, is the right one.
Comment: Payments companies of all shapes and sizes appear to be flying currently, although to be fair Boku was one of the first off the starting grid, backed by its big name merchant focus.
Cornerstone FS (CSFS), a foreign exchange and payments solutions company offering multi-currency accounts to businesses and individuals through its proprietary technology platform, announced that it has signed an agreement with Mastercard to launch a corporate card scheme. CSFS said it was thrilled to have entered this long-term agreement with Mastercard, which will expand its product offer to include commercial cards. This additional payment rail will provide its customers with greater choice and flexibility in managing their business expenses – and it is a key step towards its goal of offering its clients the ability to pay in or pay out, in any currency, via any payment method anywhere in the world.
Comment: While it seems to be a golden period for payments companies of all shapes and sizes, Cornerstone has certainly been the comeback kid, something which has and is likely to continue meaning it will be a share price outperformer.
Golden Metal Resources (GMET), a strategic development and mineral exploration company focused on Nevada, USA, announce an exploration update at the Company’s 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA. GMET said the results announced today are highly significant as it has gone from high-grade copper-gold-silver results achieved over a large footprint to now multiple overlapping geological datasets which strongly confirm the presence of a significant porphyry style system driving mineralisation across the Project.
Comment: GMET’s recent charm offensive is likely to continue in the wake of the latest update from the company, as it continues to broaden its resources base, over and above the flagship tungsten asset.
Tristel (TSTL), the manufacturer of infection prevention products utilising its proprietary chlorine dioxide technology, announced that Health Canada has approved Tristel ULT as a Class II Medical Device for endocavity ultrasound probes and skin surface transducers. The timing of this regulatory approval comes well ahead of the Company’s original aim for gaining approval before the end of H1 FY 2025 and allows commercial launch during FY 2024. TSTL said Tristel OPH is the world’s only high-level disinfectant specifically designed and labelled for use on ophthalmic instruments and is currently being used for two million disinfection events across all our markets. However, it estimates that globally the number of tonometer uses for glaucoma assessment total several hundred million annually.
Comment: Although TSTL may not occupy the world’s sexiest sounding space, it seems set to have a decent footprint in its chosen area, something which backs the idea of a further positive re-rate for the shares.
Great Western Mining Corporation (GWMO), which is exploring and developing gold, silver and copper targets in Nevada, announced the signing of a new agreement with Crowne Point Gold & Silver LLC for cooperation in exploring the western part of the Huntoon Valley. GWMO said it has successfully cooperated with Crowne Pointe in the past and it was very pleased to have entered into this new cooperation arrangement with them. The flexibility to carry out initial drilling on private land, which will circumvent a potentially lengthy permitting process, will enable it to fast-track its work in defining what it considers may be a significant new copper porphyry in the Walker Lane trend of Nevada. It is actively seeking a joint venture partner to help finance this programme and currently working on several positive leads.
Comment: The key aspect in terms of GWMO’s latest update is the mention of a JV partner. A quick result in this respect could mean that the latest rebound for the shares will continue to have legs.