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RNS Hotlist June 15: Agronomics, Bezant, First Class, Galileo, Warpaint


RNS Hotlist June 15: Agronomics, Bezant, First Class, Galileo, Warpaint

Bezant (BZT), the copper-gold exploration and development company, confirmed that it has by an agreement dated 14 June 2023 agreed with Sanderson Capital Partners Limited, a long-term shareholder in the Company to extend the repayment date for the £700,000 drawn down under the unsecured convertible loan funding facility entered into with Sanderson Capital on 22 November 2021. The £700,000 drawdown is now repayable by 23 December 2024 and convertible by the Lender at the fixed price of 0.08p.  No further amounts can be drawn down under the Facility. BZT said it was pleased that Sanderson have repriced the convertible allowing the company to advance all its technical and financial activities for the company, particularly the Hope and Gorob project, which continues to show much more potential than previously envisaged. Tanvier Malik, CEO of Sanderson Capital Partners Limited said it had agreed to reprice and extend the terms of its loan on the basis that it supports Bezant’s management’s strong conviction on the unreleased value of the portfolio. It looks forward to management reporting significant advances within their project base.

Comment: It can be seen how confident Sanderson Capital is regarding Bezant’s prospects, that it has not only extended the funding facility, but in the form of CEO Tanvir Malik, backed the management and BZT’s project base in a RNS.

First Class Metals (FCM), the UK metals exploration company, provided an update on exploration activities. The company said the confirmation of (visible) gold underlines its increasing confidence in the potential of the Dead Otter Trend. This is a very significant milestone for FCM, as is the submittal of the Exploration Permit after extensive but positive and on going discussions with the First Nations. It intends to drill as soon as all the factors allow.

Comment: We are certainly approaching high season as far as FCM is concerned, both literally in terms of the summer programme, but also in terms of discovery, such as today’s RNS underlining the potential of Dead Otter Trend.

Warpaint London (W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, provided an update on current trading. Sales for the five months to 31 May 2023 were 45% ahead of the same period last year, at £29.7 million (five months to 31 May 2022: £20.5 million), with margins continuing to be robust and ahead of those achieved in 2022.  Accordingly, driven by the continued strong start to the year, the Board now expects that the Group’s full year 2023 performance will be significantly ahead of its prior expectations.

Comment: A classic RNS from W7L, underlining what a great offering and solid management the company has. It also puts those who blame everything from the weather to macro economic and geopolitical events, for underperformance, to shame.

Galileo Resources (GLR) informed shareholders that preparations for a drill programme have commenced over the Kamativi lithium – tin target where the company announced the discovery of a previously unknown lithium anomaly in soils and streams. The company said it has quickly moved from the discovery of a widespread lithium soil anomaly to the commencement of a drill programme at Kamativi. The anomaly is substantial, and it believes it is highly significant that the target is comparable in size to other large lithium deposits including the 42.3Mt Arcadia deposit also located in Zimbabwe.

Comment: GLR continues to be underappreciated given how much it has under the bonnet in terms of potential assets. A new lithium win, especially one of significance should move the dial as far as the market’s appreciation of this company.

Agronomics (ANIC), a company focused on the field of cellular agriculture, announce that it has invested AUD 2.5 million in HydGene Renewables Pty Ltd, a developer of synthetic biology to engineer microorganisms for use in hydrogen production.  The Subscription is part of HydGene’s AUD 6 million Seed financing round. Jim Mellon, Executive Director of Agronomics said efficiently and effectively harnessing hydrogen as a renewable source of energy is vital if we are to meet our net zero ambitions and reduce our reliance on fossil fuels. By upcycling waste biomasses into renewable gases, such as hydrogen and ammonia, HydGene’s biocatalyst technology provides an entirely renewable carbon-negative solution which will support this global transition.

Comment: ANIC hits the ground running just the day after announcing the appointment top flight financial communications group. It is clear that Mr Mellon understands and appreciates how key hydrogen will be in the net zero game in coming years.

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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