Pri0r1ty Intelligence Group (PR1) announced a partnership with Funding Circle, one of the UK’s leading providers of small business loans and finance. PR1 said this collaboration will significantly enhance Pri0r1ty’s offering and expand its footprint within SME technology landscape by enabling Pri0r1ty’s customers to access alternative debt financing options seamlessly via the Pri0r1ty platform. Pri0r1ty will be expanding its core offering to customers with this collaboration. This strategic move allows Pri0r1ty customers to access loans of up to £750k within minutes and with approved funds being settled typically within less than 48 hours.
Comment: This news from PR1 is the kind of rabbit out of the hat / giant killing move that one needs to deliver in the stock market these days, and is all the more impressive given how soon it comes since the company came to market.
Helix Exploration (HEX), the helium exploration and development company with near-term production assets within the Montana Helium Fairway, provided the market with updated reserves and results of economic modelling at its Rudyard Project and announced a proposed Capital Raising (now completed) of not less than £4 million at 15 pence per share. HEX said it was delighted to announce updated reserves and economic forecasts for Rudyard Project which demonstrate the potential to generate free cash flow of $15 – $25 million per year post-tax and post-royalty, and net revenue of $115 – $220 million over a 12.5-year life of field.
Comment: HEX thankfully gets its fundraise out of the way, something that one would guess many in the market sniffed was on its way. This now means it can get on with Rudyard and proving up its portfolio.
Wishbone (WSBN) announced that it has signed non-binding HoT for the acquisition by Wishbone of Evrensel Global Natural Resources Ltd. This is part of a major restructuring of Wishbone which may include the disposal of some assets and the closure of various subsidiaries. WSBN said in the light of Market conditions for small mineral exploration companies raising money on the Market to support their ongoing operational needs, the Board has come to the decision that its existing operations in Australia do not, in their present state, form a financially viable basis for the Company’s listing.
Comment: In a way, one of the most momentous and revealing updates by a small cap company on the London market, telling us all that it is not a place for most exploration / discovery companies. There is not the interest or liquidity for most to survive, a message which will no doubt sink in over the next year or two. One could write down the ticker codes of at least a dozen mining companies here that should throw in the towel right now, but are too proud to do so.
EARNZ (EARN), an energy services company whose objective is to capitalise on the drive for global decarbonisation, announced it has established a new business, SW Assessors Limited. EARN said this is a high-quality, customer-focused domestic assessment business, operating across the UK, initially focusing on the Midlands, Bristol, and the South West, to deliver PAS-standard assessments to private sector and social housing providers.
Comment: One would always back Bob Holt and the team in any company he is involved with, and today’s news goes with the flow in terms of building EARN into a significant play for investors.
Oxford BioDynamics, (OBD), a precision clinical diagnostics company announced that Georgetown University Medical Center will be presenting significant data related to the clinical utility of its flagship CiRT clinical assay at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium (ASCO-GI), which is being held January 23 – 25, 2025, at the Moscone Center West in San Francisco, CA. OBD said it is a great opportunity to showcase the real-world clinical utility behind our EpiSwitch CiRT assay in one of the hardest diseases to treat in the world – liver cancer.
Comment: Flush with cash after its recent £7m plus fundraise, OBD is fighting the good fight as far as liver cancer, and presumably getting in those big US pharma partners.
Quantum Blockchain Technologies (QBT) announced that it has raised £2,000,000 (before expenses) through the placing at a price of 1.15 pence per Placing Share. The net proceeds of the Placing will allow the Company to continue investing in its cryptocurrency R&D programmes including, but not limited to, funding the expansion of the R&D team and the purchase of hardware and software to assist with the Company’s R&D developments, funding of ongoing legal costs associated with the Company’s legacy assets, and to support its existing investment portfolio as well as to provide general working capital.
Comment: After a truly excellent interview here on Zaks Traders Café on Monday, QBT raises £2m. Anyone else looking for an interview of such a high calibre can contact zak@zakmir.com
Gulf Keystone (GKP), an independent operator and producer in the Kurdistan Region of Iraq provided an operational and corporate update. 2024 gross average production of 40,689 bopd, an 86% increase versus the prior year (2023: 21,891 bopd). Reflects a full year of local sales in 2024 following the impact of the suspension of pipeline exports in 2023. GKP said that if current demand persists in the local market, our disciplined and flexible work programme, combined with our stable low costs, should enable us to deliver gross average production in the range of 40,000 to 45,000 bopd in 2025 and generate material free cash flow, underpinning our ongoing commitment to return excess cash to shareholders. At the same time, it continues to proactively engage with government stakeholders to unlock an exports restart solution.
Comment: Those who kept the faith with GKP have seen their holdings double in value, and with the prospect of further exports unlocking, there should be further recovery to come.
Pensana (PRE) updated on the debt finance component of the Longonjo rare earth project: Leading Pan-African bank Absa Bank Limited, acting through its Corporate and Investment Banking Division, has conditionally approved a credit term sheet for its 50% participation in an approximately $160 million syndicated loan facility.
Comment: It looks as though Mr Atherley has / is pulling of the big funding we have been waiting on for PRE for so long. Hopefully, the share price will now respond in kind.
Bluebird Mining Ventures (BMV), a gold project development company, announced that further to yesterday’s announcement it has received notification on 23 January 2025 that on 22 January 2025, Aidan Bishop, a Director of the Company, bought an additional 1,400,000 ordinary shares on market at a price of 0.83 pence per Ordinary Share.
Comment: It would appear that our Aidan cannot help but buy shares in his company at the moment. One presumes that there is a very good reason for this, just a few discreet weeks away. Oh, and the shares are still relatively low in the range, even as the gold price soars again.
ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, announced a trading update for the financial year ended 31 December 2024. Gross revenue of £2m, resulting in net sales +13% to £1.88m (2023: £1.67m). Gross profit +15% to £1m (2023: £872,000). EBITDA loss from continuing operations of £568,000 (2023: £709,000). Gross Profit margin increased to 53% (2023: 52%). Strong cash balance of £1.65m at year-end.
Comment: After all the hullabaloo regarding PBX and Optibiotix (OPTI) we see the former deliver a reasonable performance in its trading update, which is slowly improving. Presumably part of the reason for all the requisition mud-slinging was OPTI eyeing up PBX’s juicy cashpile.
Nostra Terra (NTOG) – Holding(s) in Company. Premier Miton goes up from 15.09% to 17.71%.
Comment: It is wonderful to see that Premier Miton being such an important liquidity provider amongst the small caps of London, and truly open-minded in what it invests in. It is still a badge of honour when it invests in your company.
ANGLE (AGL), a liquid biopsy company with innovative circulating tumour cell (CTC) solutions for use in research, drug development and clinical oncology, provided a trading update in relation to full year 2024 financial results. Revenues for the year ended 31 December 2024 are expected to be up 31% at £2.9 million (FY23: £2.2 million). The cash position of the Company remains solid, and stronger than market expectations with cash balances of £10.4 million at 31 December 2024, and an R&D tax credit receipt for 2023 of £1.4 million (expected receipt Q1 2025).
Comment: A biotech with cash is about as rare as a socialist who does not want to tax for growth. Shares of AGL have already been looking ready to turn in the recent past, and today’s update should boost the cause.
Kooth (KOO), a global leader in youth digital mental well-being, announced a trading update for the financial year ended 31 December 2024, along with changes to its Board of Directors and succession planning for its executive leadership team. 2024 revenues are anticipated to be in line with consensus market expectations of £65.8m (2023: £33.3m). Adjusted EBITDA is expected to be at or ahead of the top of the range of analyst forecasts of £12.7m (2023: £2.3m), helped by certain items which are not expected to recur in the current year. The Company has grown its unaudited cash position to £21.5m during 2024, from £11.0m as at 31 December 2023 and maintains an undrawn working capital facility of $9.5m.
Comment: Given recent and ongoing news events it would appear that youth well-being is one of the most important aspects of society to be addressed. KOO looks to be front and centre in this battle.
Revolution Beauty Group (REVB), the multi-channel mass beauty brand, updated on trading for the year ending 28 February 2025. REVB said looking ahead, Revolution Beauty is confident in a return to overall growth in FY26, as new strategic growth initiatives such as the launch of the new SKIN brand, the relaunch of our value brand RELOVE, and as the core SKU growth accelerates globally. This will be underpinned by significant margin improvements in the medium term.
Comment: It would appear that the oil tanker of recovery is slowly turning around at REVB. That said, it may be the timeframe for turnaround is perhaps a tad too lengthy for some in the market.
Smarttech247 (S247), an AI-enhanced cybersecurity services providing automated managed detection and response for a portfolio of international clients, announced its audited final results for the 12 months ended 31 July 2024. Adjusted EBITDA of €1.35 million (31 July 2023: €2.70 million), Adjusted operating profit of €782,000 (31 July 2023: €2.15 million). Cash of €3.34 million at the period end (31 July 2023: €6.06 million).S247 said these results reflect steady progress in our strategic priorities and operational capabilities. Our Managed Detection and Response platform, VisionX, continues to redefine cybersecurity standards, and its listing on the AWS Marketplace has opened doors to new opportunities. Additionally, our advancements in artificial intelligence, including the launch of Aio, our AI Assistant for VisionX, underline our commitment to leveraging cutting-edge technologies to better serve our clients.
Comment: The market continues to be rather hard on S247 even though its chosen space remains a key service to corporates, and it has the AI angle to help this service along.
Luceco (LUCE), the supplier of wiring accessories, EV chargers, LED lighting and portable power products, updated on trading for the year ended 31 December 2024. The Group expects to report a full year 2024 performance ahead of market expectations, with revenue in the region of £240m (2023: £209m) and Adjusted Operating Profit in the region of £28.5m – £29.0m (2023: £24.0m).
Comment: An excellent update, and one made all the sweeter given the government’s deliberate economy destroying / old people freezing policies. It will be interesting to see LUCE maintaining the current pace in 2025.
Mindflair (MFAI), the company investing in next-generation technology focused on AI, notes the announcement made by Sure Valley Ventures for a new investment by Sure Valley Ventures UK Software Technology Fund, in which it has an investment. SVV has led a £1.5 million funding round for Vizgard, a cutting-edge AI company specialising in distributed AI solutions for defence and public safety applications.
Comment: Interestingly, one remembers when MFAI enters an investment whether via SVV or not, but the exits do not stick in the mind quite so much.
CMC Markets (CMCX), a provider of online retail and institutional platform technology, issued a trading update for the period 1 October 2024 to 31 December 2024. The Group remains on track to achieve annual net operating income in line with previous guidance. Management also remains confident in meeting its cost guidance of approximately £225 million, excluding variable remuneration and non-recurring charges.
Comment: In a high tax environment, and with successive governments unable to get rid of stamp duty, financial spreadbetting should remain a vehicle of choice. But remember 69% of retail investors lose money. Even so, better to lose than pay CGT.
IG Group Holdings (IGG), announced its results for the six months ended 30 November 2024. Earnings growth on prior year levels reflected more supportive market conditions and lower costs. Total revenue of £522.5 million (H1 FY24: £472.6 million), up 11%. Net trading revenue of £451.7 million (H1 FY24: £402.4 million), up 12% driven by higher revenue per client. Net interest income flat at £70.8 million (H1 FY24: £70.2 million) as higher client money balances offset lower interest rates.
Comment: 70% of IG’s retail clients lose money, as opposed to CMC’s 69%. Not a lot of people know that.
Zotefoams (ZTF), a world leader in supercritical foams, today provided a trading update for the Group’s financial year ended 31 December 2024 (unaudited). Following a strong performance in Q4, the Group expects to report full year revenue of £147.8m (2023: £127.0m). This is slightly ahead of current market expectations and represents a significant increase (+16%) compared with the prior year. Adjusted profit before tax1 for the year is expected to be £15.6m (2023: £13.1m), up 19%, which is a Group record and also ahead of current market expectations.
Comment: What would be do without supercritical foams? ZTF has been and remains a long term growth situation, and a safe pair of hands for investors.
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