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STOCK MARKET NEWS – RNS HOTLIST

RNS Hotlist June 13: Beacon, Genflow, Hellenic, IOG, Predator, Rockfire, Roquefort, Sound, Tertiary, Touchstone, URA

13/06/2023

RNS Hotlist June 13: Beacon, Genflow, Hellenic, IOG, Predator, Rockfire, Roquefort, Sound, Tertiary, Touchstone, URA

URA Holdings (URAH) announced that Bernard Olivier, Chief Executive Officer of URA will provide a live presentation relating to the Post-AGM Presentation via Investor Meet Company on 30th Jun 2023 at 2:00pm BST. Investors can sign up to Investor Meet Company for free and add to meet URA via: https://www.investormeetcompany.com/ura-holdings-plc/register-investor

Comment: URAH is clearly looking to finesse its recent share price run, and new appreciation of the company as we look forward to emerald production kicking in over coming months. This should underline the disconnect between the $261m JORC value asset, and the present £4m market cap.

Touchstone Exploration (TXP) announced that Primera Oil and Gas Limited, its wholly owned Trinidadian subsidiary, was notified on June 12, 2023 by the Trinidad and Tobago Ministry of Energy and Energy Industries that it was awarded the Cipero onshore block in the Trinidad and Tobago 2022 Onshore and Nearshore Competitive Bid Round. TXP said with this successful outcome, it has been able to secure extensive acreage in the Herrera fairway. Although the primary geological target for the Cipero acreage is the Herrera Formation, its team has also identified additional targets within the Cretaceous. In addition to the execution of the licence, it will be required to conduct geological studies, reprocess existing 2D seismic data, and apply for regulatory permits prior to drilling, which is anticipated to take a minimum of three years.

Comment: Today’s news from TXP is hopefully the kind of news required to get the shares off floor of the recent upper 50p’s to 80p range, the three years process mentioned in the RNS notwithstanding.

Sound Energy (SOU), the transition energy company, provided a corporate update in relation to the entry into exclusivity for the partial divestment of the Tendrara Exploitation Concession and the Grand Tendrara Exploration Permit, and a financing of up to £4.0 million by way of a fixed price, senior unsecured convertible bond instrument. The company said it was very pleased to have entered into exclusivity and a term sheet with Calvalley, who have operations in the Middle East and are supported by a very large conglomerate. The envisaged arrangement would fund the further development of Tendrara Concession and the drilling of a well on the nearby TE-4 Horst.

Comment: Shares of Sound have effectively doubled since the start of the year, with the company presumably using this strength to get a decent, meaningful funding away, to advance its ambitions. Hopefully, this will be appreciated by the market.

Roquefort Therapeutics (ROQ), the Main Market listed biotech company, announced the successful completion of in vitro studies for the Company’s anti-cancer mRNA therapeutic in breast and liver cancer. The studies demonstrated a statistically significant reduction in both proliferation (cancer growth) and migration. ROQ said it invested in mRNA to create a breakthrough medicine, targeting hard-to-treat cancers with the highest patient mortality rates. Less than 30% of patients with liver and metastatic breast cancer survive 5 years and both cancers are associated with high rates of Midkine expression. And so, with its deep expertise in Midkine, this was a natural first target for its mRNA program.

Comment: Although of course one must follow the science, it seems rather more logical that mRNA could be more logical as a cancer cure than its original role as saving the world from Covid. The opportunity for ROQ is therefore significant.

Hellenic Dynamics (HELD), the specialist cultivator and supplier of medical cannabis flowers, announced it has signed a MOU with Deutsche Medizinalcannabis GmbH which trades as Demecan Holding for the cultivation and supply of medical cannabis flowers. The company said This POD agreement represents another development in the future of the company’s medical cannabis cultivation and underpins the long-term value inherent in the business and our operating model. It can allow distributors to grow the products they want in their own dedicated white label cultivation areas, which it then ships to their EU-GMP facilities for processing enabling it to widen its client base.

Comment: It can be seen that Hellenic is keen to advance its programme with the latest MOU deal, a point that underlines the importance of the German market as well. As the company says, it is all about widening the customer base in an expanding space.

IOG (IOG) confirmed that First Gas has been safely delivered from the Blythe H2 well and provided an update on the planned near-term intervention. The company said IOG’s Drilling, Operations and Engineering teams have done an excellent job to bring the Blythe H2 well onstream within one week of its initial three-month guidance, despite losing over a month to the well control event. Strong collaboration with Petrofac (Well Operator), Shelf Drilling (rig contractor), ODEAM (infrastructure Duty Holder) and Perenco (terminal operator), among others, has enabled safe and efficient execution of this important well.

Comment: While many in the stock will perhaps still be smarting from the rug pull / shakeout we witnessed earlier this month, they are probably used to it given the way that the shares are down some 90% over the past year. Ideally Blythe H2 marks a positive inflection point.

Tertiary Minerals (TYM) announced that it’s 96% owned Zambian subsidiary, Tertiary Minerals (Zambia) Limited, has applied for, and had approved for grant, a new mineral exploration licence at Mupala in Zambia. The company said it was delighted to have secured the approval for this new licence application in such a highly prospective copper producing region and in the face of stiff competition.  The licence will be granted following payment of the requisite fees which we expect to do later this week.  It will then move to submit an Environmental Project Brief to allow a start to exploration and has begun compiling historical exploration data for the licence which will then inform our exploration plans going forward.

Comment: TYM shares have been hanging around rather stubbornly near the floor of the recent range. Presumably an announcement such as today’s may finally get the stock to move back to the former glories seen back in the autumn near 0.3p.

Beacon Energy (BCE) announced the arrival of the E202 drilling rig to the Schwarzbach Production Facility for the planned Schwarzbach-2 development well within the Erfelden Field, onshore South West Germany. This rig is fully crewed and has been contracted from RED Drilling & Services GmbH. The company said it was pleased to report that preparations for this highly important well are on track meaning it is well placed to spud on or around the 19 June 2023.  In the success case, this well has the potential to be truly transformative for Beacon as it seeks to deliver a step-change in its production and cash flow.

Comment: Given how upbeat the company is today, in terms of being on track to spud, and looking for a “step-change” in production and cash flow, it seems rather unfair that the stock is now near the floor of its recent range.

Predator Oil & Gas Holdings (PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, announce an interim drilling update for the MOU-3 well appraising the Moulouya Fan primary reservoir target for which contingent gas resources have been previously announced. The company said the presence of shallow overpressured gas with an effective sealing caprock has added to the identification of two new potential gas reservoirs that were not known about pre-drill. Of even greater significance is that the overpressured gas has validated shallow trap integrity and identified a clear path for the migration of deep gas into the next six targets to be evaluated by MOU-3.

Comment: Shares of PRD have performed remarkably well given the amount of cash raised by the company in the recent past. Updates such as today’s which suggest further new gas reservoirs are just what the doctor ordered to keep the stock stable.

Rockfire Resources (ROCK), the base metal, gold and critical mineral exploration company, announced that the company’s fourth drill hole, as part of its geotechnical drilling programme at the company’s Molaoi zinc deposit in Greece, continues to encounter strong zinc continuity. The company said these results will help the Company select appropriate mineralized material to be included in planned geotechnical studies. These studies include crushing and grinding work indexes, which will be commissioned within the coming weeks. Rockfire is committed to proceeding as quickly as possible towards feasibility. The market will continue to be informed of its progress at Molaoi, including assay results as they are received.

Comment: Rockfire has certainly delivered at Molaoi, exceeding expectations regarding what is under the ground, and in terms of the timeframes promised. If you add in the recent successful financing, and the way that stock has effectively tripled trough to peak in recent months, all is good on the ROCK front.

Genflow Biosciences (GENF) said its shares will begin trading on the OTCQB Venture Market in the United States today under the symbol GENFF.  Genflow will continue to trade on the LSE Main Market under the symbol GENF, and, importantly, the onboarding to this additional U.S. securities trading platform does not involve any capital raise.  The new U.S. trading facility expands access to a broader pool of investors and enables investors in the United States to trade during U.S. trading hours and in U.S. dollars. The company said it was thrilled to announce that Genflow Biosciences has been admitted to trading on the OTCQB Venture Market in the United States. This move not only expands its reach to a larger investor base and has the potential to enhance liquidity for its shares, but also reinforces its unwavering commitment to our primary listing on the prestigious London Stock Exchange.

Comment: It is, and was always the case that USA investors would be more appreciative of GENF’s offering to keep us living younger and longer. Now with the OTCQB listing we should see this in action.

Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.

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