As a tribute to the love and affection AQUIS is held amongst investors and market participants the world over, and all the support given to companies on its exchange, the first three companies today are all AQUIS listed.
Valereum (AQSE: VLRM) announced that an application has been filed with the OTC Markets Group for the Company’s ordinary shares to be publicly cross traded on the OTCQB Market based in the United States, which upon approval, would make Valereum’s shares more widely available to North American investors. This aligns with the Company’s aims to deliver shareholder value and increase the business footprint globally.
Comment: Just a few years ago a small cap announcing that it was to list on OTCQB could be a magic bullet for the share price. These days not so much, but presumably things are going well for OTCQB and its client count.
RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic spectrum wishing to rent property in the UK private rental sector, announced its results for the period ended 31 December 2023. Revenue is up 79% from £414k to £741k year on year. Tenant contracts are up 57% from 716 to 1,124 year on year.
Comment: RGG appears to be something of a no brainer given successive UK governments making a deliberate housing shortage as being one of the main drivers of the economy. Presumably this is a scalable business as well.
Vinanz (AQSE: BTC), the publicly listed Bitcoin mining company with US and Canadian Bitcoin mining operations, announced that the first 20 Antminer S19J Pro+ 120TH bitcoin miners to be deployed into one of Mining Store’s (www.miningstore.com) facilities in central Iowa have arrived on site. The miners are expected to be operational over the coming weeks. Vinanz intends to expand the operational miners in this new US BTC cluster. BTC said things move quick in America and I’m pleased to say that Mining Store have now received its miners at their facilities in central Iowa and will be installing them over the coming days.
Comment: Reassuringly, the share price of BTC has held at the highs of the year, even after the halving for Bitcoin back in April. It will be interesting to see how BTC delivers with its new mining capabilities.
Narf Industries (NARF), the cybersecurity group specialising in high-end threat intelligence and critical infrastructure security, provide further information on its plans to accelerate work on its social cyberthreat intelligence capabilities. NARF it is making exceptional progress with targeting new opportunities and reallocating resources to keep pace with this significant near-term demand. It will provide future updates over the next 120 days as it expects first contract awards and work with industry partners to form go-to-market alliances.
Comment: Perhaps, or because NARF apparently wishes to keep a low profile (possibly intelligence services related), the company’s news is being covered in the RNS Hotlist today. Given that the shares are already up 87% this year, the company can afford the strong, silent type approach.
Neo Energy Metals (NEO), the near term, low-cost uranium mine developer, announced that the key findings from the independent report, recently completed by South African based mining consultancy group Erudite Strategies, have confirmed the low operating cost (Opex) and capital cost (Capex) and overall robust project economics of the Henkries Uranium Project located in the Northern Cape province of South Africa.
Comment: We did not really need to wait until today’s report to know the potential of Henkries, but presumably the release should be a decent driver for the stock to build on the rebound seen last month.
EnergyPathways (EPP), an integrated energy transition company, announce the publication of its Annual Results for the year ended 31 December 2023 and Notice of Annual General Meeting. The company said the current fiscal year has seen good progress with its FEED workstreams for the development of the Marram Gas Project. In tandem, it continues to progress its engagement with the NSTA as it seeks to expand our portfolio of production and storage licences, emphasise its commitment to a sustainable development for Marram and outline its vision for an energy storage hub in the East Irish Sea that supports the critical factors that comprise the UK’s energy requirements. 2024 will be an active year for EnergyPathways as it seeks to achieve FID on Marram and establish the building blocks for its longer-term growth ambitions.
Comment: Presumably the $64,000 question here is how far the £2m the company will stretch in the run up to FID, and how much cash it will need after that. In the meantime the shares really need to be on the right side of 5p.
Ondo Insurtech (ONDO), a company in claims prevention technology for home insurers, announced an agreement with personal lines insurer Ageas UK to introduce LeakBot Limited (LeakBot) to their customers. ONDO said the activity with Ageas signifies another step into mass market insurance within the UK. With growing costs and increasing customer expectations, LeakBot offers the opportunity for insurers to introduce an innovative solution to prevent claims whilst also positively impacting customer experience. It looks forward to working with Ageas on this activity and going forward.
Comment: ONDO was one of the star stocks of 2023, quite an achievement in itself. 2024 has to be the year when the company proves its business model, and finesses deals with some of the big beasts in the insurance industry.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided an update on drilling operations on the State 36-2R LNW-CC well at the Company’s flagship project in the Paradox Basin, Utah, U.S. ZPHR said it was delighted to have concluded drilling operations safely and in line with its plans. It has intersected the reservoir remarkably close to the original well and early indications imply confirmation of hydrocarbons – and that it has likely been successful in hitting its natural fracture target with precision. Its next step is to commence the well production test in the coming weeks.
Comment: Shares of ZPHR are up 90% so far this year, with the good news being that the company has seemingly achieved the turnaround with relatively little effort. Clearly, the run up to well production should continue to keep the stock firm.
Predator (PRD) announced a corporate update. PRD said the public markets rarely give value to medium and longer term business development plans, however systematically proving up oil and gas resources provides the mechanism for extracting value from other entities within the upstream and downstream natural resources sector, that understand the value of gas in particular to support the Energy Transition and the potential for commodity trading in what is still a very attractive global market for energy supply and security.
Comment: A surprisingly philosophical update from PRD. But really the fact that there was no fundraise could in itself be something of a near term driver for the shares.
Ahead of ITM Power’s (ITM) preliminary results, which are due to be released on 15 August 2024, it provided a summary of our financial performance for the 12 months ending 30 April 2024. Adjusted EBITDA loss between £39.0m to £44.0m, better than the guidance of £45m to £50m, and a year-on-year reduction of more than 50%. Net cash at the year-end of £230m, ahead of the guidance range of £200m to £220m and reflecting the stringent cost and capital disciplines now embedded in the DNA of the company.
Comment: It is a mark of genius that ITM has so much money in the bank it could continue to lose money at the current rate for 5 years and not even blink an eyelid. Even better, it seems plenty of people would step up to the plate and give the company even more cash.
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