STOCK MARKET NEWS – RNS HOTLIST
RNS Hotlist June 30: Bezant, Firering, Fulcrum, EDX, NFT, Powerhouse, Renalytix, Streaks, Valereum
Streaks Gaming (STK), a UK-based provider of AI focused conversational gaming “Streaks Gaming”, announced its audited results for the 12 months ended 28 February 2023. The company said it was excited to announce that it has leveraged its considerable technical know-how in the AI space and is launching a Social AI platform for influencers in Q3 called Streaks Social. The Streaks Social AI Platform will allow influencers to better connect and monetise their existing fans through the automatic creation of an AI Avatar. The interactions between the AI Avatar and the fans will be personalised via NLP, providing each fan with a unique experience. Influencers will be able to monetise their fans through Streaks credits and fans will be able to take advantage of loyalty points and “Streaks” by using the core AI Conversational platform.
Comment: I am sure that the Zak Mir AI Avatar will charm and wow tens of thousands of fans via the Streaks Social AI, and of course be far more charismatic than the real thing.
NFT Investments (AQSE: NFT), an investment firm, announced on 20 March 2023 its intention to publish Quarterly Trading Updates in advance of the liquidation of its Crypto holdings and to return value to its shareholders by way of a tender offer for its shares following the next BTC halving (expected in April 2024). The company said it has unaudited Crypto and Stablecoin assets with a valuation of £27.4 million (2.72p per share) as at 29 June 2023.
Comment: What is interesting in current market conditions is that obviously investors do not rate the cryptocurrency space, so much so that NFT’s valuation of 2.72p compares to the present share price of 1.65p. Trading at half NAV / Cash, or being able to buy £1 for 50p is the nature of the stock market in 2023.
Valereum (VLRM), the Gibraltar technology group, announced its final results covering the 12 months to 31st December 2022. The company said it has been a year of progress and patience for Valereum as it waited for the final permission to secure ownership of the GSX. Its strategic ambitions for the exchange remain undiminished and it expect, once the current fundraise is completed, to be able to set about bringing these plans to life which will deliver enhanced shareholder value.
Comment: It remains the case, as it was since the idea of taking over the GSX was first mooted, that there are no small cap stock exchanges anywhere in the world. Once the deal is finally secured, one would expect VLRM to get the re-rate it deserves.
EDX Medical Group (EDX), which develops innovative digital diagnostic products and services, announces that the Company has received a strategic investment of £500,000 from Boru Ltd via a subscription of 6,250,000 new ordinary shares of 1p each in the company at a price of 8p per share. EDX said it was delighted Boru has made an investment in EDX Medical as they are well-known investors in growth companies they believe are capable of delivering innovative and impactful new products and services. It appreciates their confidence in backing its digital diagnostics strategy.
Comment: As well as the cash, the key here is the price the deal was delivered at, 8p as compared to the present 3.25p. While a currently cynical stock market may not appreciate this premium rated deal, the positive move by Boru underlines the prospects for EDX.
Renalytix (RENX) announced that the FDA has granted De Novo marketing authorization for its KidneyIntelX.dkd™ prognostic test. This affirms KidneyIntelX as a first-in-class, artificial intelligence enabled prognostic testing platform to guide care management for adults with type 2 diabetes and early-stage chronic (diabetic) kidney disease. Renalytix said it believes FDA authorization will lead to increasing test adoption, informing clinical guidelines, expanding insurance coverage, and pursuing additional international regulatory approvals.
Comment: Shares of RENX are around half of their March peak, so it should be the case that the shares get a shot in the arm from the latest FDA news. One hopes that such a thumbs up, has the same effect as it used to have in the past, when we had a properly functional stock market.
Firering Strategic Minerals (FRG), an exploration company focusing on critical minerals, announced its Final Results for the year ended 31 December 2022. The company said post period it announced the start of Phase II of its large-scale exploration programme which commenced with a comprehensive soil sampling programme at Atex, in partnership with Ricca and it looks forward to updating the market on its planned 11,000m auger drilling to commence imminently.
Comment: After some months of flux, we can expect an acceleration of events accompanying the start of auger drilling. Given that the shares are back at one year support, the risk / reward regarding FRG now appears attractive.
Bezant Resources (BZT), the exploration and resource development company, reported its audited full year results for the year ended 31 December 2022. The company said during the period the copper price has been volatile but the consensus remains that there is an impending shortage of copper supplies. Recognising the above average copper project portfolio, it has been in several discussions regarding finance and resource collaboration for their advancement. At the time of writing, it is still in discussions and negotiations regarding portfolio advancement.
Comment: Portfolio advancement notwithstanding, the key for mini-miners such as BZT is that metals prices in their chosen area head north in a significant way. For copper to do so would clearly be transformational given the portfolio it is sitting on.
Powerhouse Energy Group (PHE), a company pioneering integrated technology, announced its audited results for the year ended 31 December 2022. The company said that in 2022 it commenced a transition in the company’s business strategy that will start to be realised in 2023. This will be to recognise market demand and to provide the company with a continuing revenue stream and enable its capital projects to be developed as the necessary elements come into place. It has also broadened the base of the business to allow this to happen.
Comment: PHE appears to be pivoting itself into a business which garner potential much more traction than the original direction it was created for. The key here will be to ramp up the revenue stream, and attain a decent niche in its space.
Fulcrum Metals (FMET), a company focused on mineral exploration and development in Canada, announced its unaudited consolidated interim results for the six months to 31 March 2023. The company said Fulcrum has a highly prospective portfolio of projects in one of the most attractive mining jurisdictions in the world and an aggressive growth strategy. Looking ahead, it will continue to build on the success of our exploration work at its flagship Schreiber-Hemlo project to increase the value and ultimate commercialisation of the project.
Comment: The name of the game in the junior mining space is for companies who are new to the market to differentiate themselves from their many peers, and of course hit the ground running in terms of newsflow. It would appear that Fulcrum is keen to deliver on both fronts.
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.