Power Metal Resources (POW), the London-listed exploration company, announced an update on the agreement with Red Rock Resources (RRR) to conditionally dispose of its 49.9% interest in New Ballarat Gold Corporation plc, which wholly owns Red Rock Australasia Pty Limited, the local operating company holding exploration interests in the Victoria Goldfields, Australia and in South Australia.
Comment: POW continues to consolidate and finesse its portfolio, something which the recent rebound in the share price underlines. One would expect the re-rate to accelerate as the market sees more agreements / updates such as the one announced today.
Acuity (ACRM), the software group, announced that its subsidiary, Acuity Risk Management Ltd, which supplies the award-winning STREAM software platform for the GRC market, together with associated consultancy services, has signed a new professional services agreement with Sopra Steria. ACRM said it was delighted to announce our Agreement with Sopra Steria. Whilst it has worked together for the past two years the Agreement demonstrates the confidence that the parties have in each other. This collaboration marks a significant milestone for Acuity Risk Management Ltd. It believes it will open more significant contract opportunities in the future.
Comment: When a company with very decent prospects and deals like ACRM does not get the share price traction that it deserves, one can perhaps blame not its service providers, but the company having chosen them. Einstein’s definition of madness is underlined by the way that ACRM shares were double the current price this time last year.
Water Intelligence (WATR), a multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, announced optimal test results from its new technology offering for open channel water conveyance and storm water run-off. The Group’s 2023 year-end trading update released in February had previously indicated that test results from the first commercial deployment were being gathered. WATR said it looks forward to deploying a range of ALD Water Management Solutions based on the same patented technology across the United States and around the world as it continues to transform water infrastructure.
Comment: Another company which has successfully managed to hide its light under a bushel, at least in terms of investor awareness. Nevertheless, shares of WATR are well up on April’s lows, and news such as today’s with the USA angle should keep building that momentum.
Ondo Insurtech (ONDO), a claims prevention technology company for home insurers, announced further expansion of its operations in the United States. ONDO said the Customer Success role is a key hire for Ondo, and it could not have found someone more ideally suited than Wendi with her expertise, experience and industry-specific knowledge. It was also encouraged to see both Pure and Nationwide expanding with it into a second state, supporting its strategy to roll out each partnership on a carefully managed state-by-state basis.
Comment: ONDO has certainly done all the dirty work in terms of expanding its footprint, and partnering with serious plays, especially in the all important US market. All that is left now in terms of the share price is to reveal just how much of a money spinner its claims prevention technology is.
Incanthera plc (AQSE: INC), the specialist company focused on innovative technologies in oncology and dermatology, announce the appointment of John Howes as an Independent Non-executive Director with immediate effect and, that following this appointment, the Company’s shares will commence trading on the Apex segment of the AQSE Growth Market. INC said it was delighted to qualify for the top tier of trading on the Aquis Stock Exchange Growth Market. This move to the Apex segment is recognition of the commitment of the team to evolve Incanthera into a commercial player on a global stage with the vast opportunities and publicity that brings.
Comment: INC is the top riser on the Aquis market year to date, and given the strength of its skincare offering, one did not have to be Warren Buffett to realise that this would be the case. It could very well be one of the companies that helps investors gain confidence in the Aquis market.
Blencowe Resources (BRES) signed its first non-binding MOU for natural large flake concentrate offtake from the Orom-Cross Graphite Project. Partnering with Jilin New Technology Graphite Co., a prominent global graphite consumer, this initial MOU is the first of several offtake agreements anticipated to complete in the near future ahead of completing the DFS. BRES said this MOU is a key milestone for the Company and it is just the beginning. It anticipates announcing several more agreements over the next few months. Jilin is a leading graphite company globally and this is a strong endorsement of the graphite product from Orom-Cross.
Comment: Today’s news looks to be good enough to allow shares of BRES to deliver the big breakout through the sticky 6p zone and up to where they were during the pandemic towards 9p. The large flake angle is the winner here.
Golden Metal Resources (GMET), a mineral exploration company focused on tungsten, lithium, gold, copper and silver within Nevada, USA, announced it has raised £506,250 through a direct and premium priced subscription with the Company. GMET said the ability to raise significant funds in this manner from a single investor, without recourse to the usual market placings, demonstrates the stage of business development and the prospects offered by further work at Pilot Mountain and Garfield.
Comment: Given how much goodwill and potential GMET has offered up since its IPO, it could raise cash on demand for Pilot Mountain and Garfield. All this even before the prize of US grants is revealed.
Rockfire Resources (ROCK), the base metal, precious metal, and critical mineral exploration company, announced that the Company’s on-going drilling program has intersected a very wide and strongly mineralised zinc zone at depth at its 100%-owned Molaoi zinc deposit in Greece. This extensive intercept of zinc, silver and lead demonstrates the quality of this deposit and is expected to result in a material increase in resource tonnage. ROCK said this extensive intercept is amongst some of the widest and strongest intervals of mineralisation it has encountered at Molaoi. It appears from the few deep holes it has drilled, that mineralisation is not only continuing, but results may suggest that zinc content is becoming stronger and wider with depth.
Comment: We have known from the start that Molaoi was the jewel in the crown for ROCK, and this notion is increasingly playing out. This means there is a disconnect between where the share price is now at the low end of the range, and the improving fundamentals.
Chill Brands (CHLL) provided an update on the position of the Company following initial investigations carried out by the newly appointed Board. CHLL said it was totally shocked by the extent of destructive behaviour and actions of Mr Taylor and Mr Russo. It is evident that they have not acted in good faith and their actions have been motivated by self-interest rather than for the benefit of the Company or its shareholders. The Company has commenced an investigation to uncover if any professional advisers or persons had assisted them in their actions to defraud the business.
Comment: It may be that the company’s time is better spent focusing on CHLL’s actual business and updating the market on sales. If this information had come in earlier the trials and tribulations in and around the CHLL boardroom may not have happened.
Bezant Resources (BZT) announced that it has signed an exclusive collaboration agreement with PCB Mining Limited in relation to its small scale exploration licence 24988-HQ-LEL in Zambia. Bezant will earn a 15% interest in the PCB Licence / PCB Mining by providing a project restart plan for PCB Mining and assisting PCB Mining in obtaining financing for the project restart. BZT said the arrangement with PCB Mining allows Bezant to further its exploration and development strategy, without a funding requirement. The initial objectives will be to i) assess the prospects for a small-scale mining operation and ii) to construct an exploration program to determine scalability.
Comment: The key as far as the latest RNS from BZT is the expansion without a funding requirement comment, something which the market is yet to cotton onto in a significant way.
Brave Bison (BBSN) announced it was considering an offer to acquire The Mission Group plc. On 3 June 2024, Brave Bison announced that it had submitted a revised proposal with enhanced terms to Mission, which was subsequently rejected by the Mission Board on 6 June 2024. BBSN said it is a disciplined acquirer and is not willing to advance the Possible Offer without due diligence or access to key management. As such, Brave Bison confirms that it does not intend to make an offer for Mission.
Comment: Two points to ponder: firstly, with small cap share prices so low currently, even at bid of double or triple the prevailing share price might seem cheap. Secondly, decent jobs on the board of listed companies are few and far between, and therefore no one wants to give them up lightly…
Tertiary Minerals (TYM) announced the commencement of exploration operations at its Mupala Copper Project in the highly prospective Kabompo Dome of the Northwestern Province, Zambia. TYM said momentum is now building for its current exploration season. Drilling is in progress at Konkola West with KoBold Metals and Mwashia Resources and it announced last week the consolidation of three additional projects into its new subsidiary, Copernicus Minerals, where drilling plans are also being advanced.
Comment: There would appear to be momentum both for the TYM share price currently, and on the ground. The current exploration season really will be key as far as elevating the company from its traditional microcap level.
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