Ananda (AQSE:ANA), a clinical-stage life sciences company, shared promising results from recent preclinical studies investigating the efficacy of MRX1 (Patent Pending) in treating cardiac fibrosis and heart failure with preserved ejection fraction (HFpEF). ANA said it was delighted to share this profound pre-clinical data with the market which establishes that MRX1, its patent pending drug candidate, has a clinical impact. HFpEF is an area of high, unmet medical need and it was excited by the opportunity this presents to add another addressable condition to its portfolio, alongside its existing two Phase II trials investigating Chemotherapy Induced Peripheral Neuropathy and Endometriosis and other conditions that it is working up trials for.
Comment: Shares of ANA have already soared in recent weeks, presumably on hopes of positive news regarding MRX1. The way things are going this patent pending drug candidate could be the gift that keeps on giving for ANA shareholders.
Avacta Group (AVCT), a clinical stage life sciences company developing innovative, targeted cancer treatments and powerful diagnostics, provided a business update ahead of the AGM which will be held today. AVCT said the ongoing trial of AVA6000 is progressing well and remains on track to achieve our stated goals of initiating the expansion cohorts, updating the clinical data for AVA6000 and detailing our pipeline of innovative new medicines. It is pleased to be able to announce today the formation of an expert Scientific Advisory Board to support and guide the progress of this trial and it looks forward to its Research and Development Spotlight Science Day in London in the fourth quarter of 2024 where it will be providing more detail on the future of the pre|CISION™ platform.
Comment: While the arrival of pharma big beast Shaun Chilton gave a temporary boost to the AVCT share price, today’s promise of more detail in Q4 may be a little too long in terms of timeframe for some holding AVCT shares.
Oracle Power (ORCP), an international project developer, announced its Final Results for the year ended 31 December 2023. The loss for the year was £789,795. ORCP said its strategy is to progress and develop its various projects, thereby diversifying risk, and with a view to timely divestment when appropriate in order to maximising returns and shareholder value. In summary, the Company has progressed and continues to implement such strategy by identifying and forging relationships with partners, in order to provide potential financing and resources and expertise for the advancement of its projects and enhance the attractiveness of its portfolio.
Comment: Frustrated shareholders should be looking at the company’s new moves to deliver smaller, quick turnaround projects such as those in Australia. Ideally, the benefit of this will be seen in next year’s final results.
Sovereign Metals (SVML) has signed a MoU with The Palladium Group (Palladium) – a US-based development entity implementing several development projects in Malawi including the Feed the Future Malawi Growth Poles Project (Growth Poles). Growth Poles is a US$50 million project that will run from 2023 to 2028. SVML said the MoU identifies Sovereign as a potential anchor firm in Malawi and Kasiya as an anchor client or “Partner Growth Pole”. The MoU sets out a long-term vision for multi-partner investment and co-development aimed at supporting community engagement activities and scaling up the availability of commercial agriculture across Malawi, in particular in environmentally and economically vulnerable groups and households, to improve livelihoods for communities around the Kasiya Project.
Comment: Decent, significant newsflow continues to be delivered by SVML, something which on a drip-drip basis should allow for the next big jump in the share price which really should be back at 2 year resistance towards 50p.
EDX Medical Group (AQSE:EDX), which develops innovative digital diagnostic products, has signed an exclusive distribution agreement with Curesponse Ltd, to market the cResponse™ cancer assay in the UK, Sweden, Finland, Norway and Denmark. Professor Sir Chris Evans, OBE, founder of EDX Medical plc, commented: “We are delighted to be increasing accessibility to this genuinely innovative and pioneering test which potentially offers tremendous benefit to those treating cancer and their patients. This product is an excellent addition to our rapidly growing portfolio of class-leading diagnostic solutions.”
Comment: It is amazing that with big beast Professor Sir Chris Evans, a great game plan and newsflow that EDX is not already trading at multiples of its current share price. Maybe the company should ask both its PR companies why?
LifeSafe (LIFS), a fire safety technology business with innovative fire extinguishing fluids and fire safety products, reports its audited Final Results for the year ended 31 December 2023. Revenue up 46% to £5.9 million (2022: £4.0 million). Gross profit of £3.4 million at 57.6% margin (2022: £2.3 million at 57.0% margin). Underlying loss of £1.4 million (2022: £1.3 million). LIFS said its Digital First strategy has successfully built brand awareness and recently unlocked wholesale and industrial channels with agreements signed for the development and distribution of its new fluids.
Comment: It should be the case that 2024 and the push into the industrial market will be the year that LIFS has its big turnaround. If this is the case the current share price looks paltry.
Thor Explorations Ltd. (THX) announced the first set of drilling results from its 2024 drilling programme at the Douta Gold Project, Senegal. The drill-intersections of significant gold mineralisation are from the Makosa East Prospect where the programme commenced. THX said it was pleased to announce new significant drilling results from the Makosa East Prospect which forms an important component of the larger Douta resource. These results will help it in achieving the main purpose of the 2024 drilling programme, which has been to increase the oxide component of the resource.
Comment: THX remains something of an unsung hero, but at least updates such as today’s remind the market of the potential the company has as it proves up more resource.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided an operations update including an update on progress on the State 36-2R LNW-CC well at the Company’s flagship project in the Paradox Basin, Utah. ZPHR said it was delighted to announce that it has commenced operations in preparation for the production test on of the 36-2R well. Well clean-up operations are proceeding at a measured and conservative pace, and it is prepared to begin testing production volumes once the clean-up phase is complete. It looks forward to sharing the results from the test in due course.
Comment: One of the better small cap risers of the year to date, and the operational progress alone backs up the idea that ZPHR has further to go on the upside.
First Class Metals (FCM), the UK listed metals exploration company, announced that field work on the Coco East base / precious metal property is now underway. FCM said in true FCM fashion it is endeavouring to put as much of the available funds ‘into-the-ground’, though gold prices are soaring the Coco East property has real potential for base metals. However, the very anomalous gold in lake sediment samples on the OnGold property constitute a significant target which too demands follow-up when appropriate.
Comment: If nothing else, one has to hand it to FCM in terms of determination and positive vibes, in terms of the efforts the company is making to move forward.
Good Life Plus Plc (AQSE: GDLF), an innovator in the luxury prize draw and rewards sector, announced that Tennyson Securities has initiated research on the Company with an initial target price of 4.24 pence. The Company said it continues to make significant strides in expanding its market presence by establishing new channels and forming partnerships with household blue-chip brands and media partners.
Comment: While GDLF may be forming partnerships with household blue-chip names, the priority here may be to make its name more familiar to stock market investors, who currently think Good Life is a 1970s sitcom.
Cobra (COBR), an exploration company prioritising a strategy to lower the cost of critical rare earth production at its Boland Project in South Australia, announce further re-assay results from the Yarranna Southeast prospect. COBR said that these results re-affirm that Cobra has a province scale ionic rare earth system that is different to other projects, owing to its potential to be mined through a materially lower cost process – in situ recovery. Its technical team developed this alternative model and is now validating our exploration strategy to grow a scalable resource with a commercial point of difference.
Comment: It is a shame given the prospective strength of what COBR is sitting on, especially in the key rare earths area, it has so far failed to get its message out to the market. The shares are no higher than they were three years ago, something which could make funding more difficult than it should be.
Time To ACT plc (AQSE: TTA), an engineering-led group focused on technology for the energy transition supply chain, announced that its GreenSpur business has received an award of €705,000 (circa £613,000) from the BEETHOVEN Project, an initiative for the sustainable development of advanced magnetic materials for energy solutions. The award, which will be spread over four years, provides GreenSpur with income which will be used to support the development of a fully characterised, high powered Rare Earth-free magnet for use in several industrial applications. TTA said it was thrilled that GreenSpur has been named a member of the BEETHOVEN consortium. The award underscores the commercial relevance of GreenSpur’s technology and provides revenues that will help accelerate development efforts and bring our cutting-edge solution a step closer to full-scale commercialisation.
Comment: It is always a pleasure to highlight new names in the RNS Hotlist, especially those listed on Aquis who normally need a helping hand or two. TTA is worth investigating.
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