Oberon Investments (OBE) has hired Phil Smeaton to join its investment management team as Head of Investments. Smeaton joins from atomos, formerly Sanlam, where he worked as Chief Investment Officer. Prior to that, he worked for Batterymarch and Tokyo Mitsubishi Asset Management as a fund manager, starting his career in 2000.
Comment: It would appear that all the great and the good who have worked in the City could eventually end up at Oberon, if they play their cards right.
Tekcapital (TEK), the UK intellectual property investment group, provided an operationalupdate from Microsalt Ltd. SaltMe Crisps continue to be sold throughout the Kroger group. SaltMe Crisps are currently stocked in Kroger stores with efforts continuing to secure new store placements. Comprehensive testing of Microsalt has been successfully completed with several major food companies. MicroSalt is at varying stages of progress with these company’s respective tasting, procurement, marketing and packaging departments and will keep the market informed of further developments.
Comment: It would have been interesting to be a fly on the wall in the focus group that came up with the name “SaltMe.” At least the roll out looks to be progressing well.
Good Energy (GOOD), the clean energy company, is pleased to announce that it has launched a new smart export tariff for households with solar panels. The company said this latest milestone is in line with Good Energy’s strategy to expand its decentralised energy services offering. Following a year of record energy prices, it expects the growing interest in solar to continue at a significant rate as the Government, together with businesses and consumers, focus on building long-term renewable energy solutions.
Comment: It is always worth mentioning Good Energy, if only on the basis of it being right on the fundamental zeitgeist.
Audioboom (BOOM), the podcast company, said it will continue its strategic alliance with Formula 1® through 2025, partnering on the production, distribution and monetisation of Formula 1’s official podcasts including F1: Beyond the Grid and F1 Nation. The company said this partnership encompasses every aspect of the Audioboom platform. It is excited to be delivering “incredible value” to F1’s engaged and dedicated podcast fans.
Comment: One would assume that quite a few BOOM holders were not aware that it is partnered with Formula 1® in the first place.
Quantum Blockchain (QBT) a company developing hardware and software to improve the efficiency of crypto-currency mining, published its detailed research report on the financial performance of the world’s leading publicly-traded Bitcoin mining businesses. The company said the research underpinning this report is part its fundamental analysis to discern important economic drivers of today’s Bitcoin mining industry. QBT sees significant opportunities for new technologies, including those being developed at the company, to improve the operational performance and financial return of Bitcoin mining hardware.
Comment: Interesting that QBT has written research talking its own book. But at least it coincides with a renewed interest in crypto.
Tap Global Group (TAP), the regulated crypto app, presented its unaudited half-year results for the six-month period ended 31 December 2022. Since listing, Tap has seen material increases in both registered users and revenue delivered through the Company’s platform. Registered users as at 28 February 2023 stood at just under 140,000 compared with 100,000 announced at the end of September 2022. In each of January and February 2023 was over three times that delivered in December 2022, with this positive momentum carried through into March. On 24 January 2023, the company announced a contract-win with Bitfinex, one of the world’s leading crypto exchanges.
Comment: The RTO was perfectly timed for Tap in terms of landing at the start of a massive Bitcoin rally since the start of the year, something which makes the jump in registered users all the more pleasing. No doubt the rise in users has also been backed by the demise of some of Tap’s less illustrious / less regulated competitors, a process one would imagine will continue to work in its favour.
Atlantic Lithium (ALL), the African-focussed lithium exploration and development company, updated on the DFS for the Ewoyaa Lithium Project in Ghana. The company said that since commencing at Atlantic Lithium, the team has been working hard to assess all opportunities to enhance the Project’s processes and potential economics. Alongside the increased MRE, the staged project development plan will focus on improved plant efficiency and increased metal recovery.
Comment: Perhaps as much as anything else today’s update is to restore confidence after the bearish slurs the company has received. 30p plus, back above the former July lows, would be a good share price start in terms of ALL’s rehabilitation.
Blackbird (BIRD), the technology licensor of a cloud-native video editing platform, announced its audited full year results for the year ended 31 December 2022. The company said it was delighted to report record revenues for the fifth consecutive year of £2.85 million, up 38% on the previous year. It delivered against the statement of work for EVS, its first technology licensee. EVS’ resulting product, IPD VIA Create, was subsequently used by a US broadcaster on a major global sporting event towards the end of the year.
Comment: Those who are familiar with this sector of the market will be aware of how difficult it is to deliver a land grab in technology. Blackbird has not only achieved this, but is accelerating in the form of record revenues for the fifth year running.
Rockfire Resources (ROCK), the gold, base metal, and critical mineral exploration company, announced that all joint venture documentation between the company and ASX-listed Sunshine Gold Limited (ASX:SHN) has been signed. ROCK said the Sunshine team continues to see new opportunities for exploration targets at Plateau and other prospects within the Lighthouse tenement.
Comment: Shares of Rockfire have already recovered sharply on prospects for Greece, with the advancement of Plateau effectively coming in as the icing on the cake.
Arrow Exploration (AXL) updated on the drilling activity at Rio Cravo Este (RCE) on the Tapir Block in the Llanos Basin of Colombia. The company said it was very encouraged by the initial production of RCE-4, the fifth well on the Tapir block, which has been completed in the C7-A and C7 Stringer zones with additional zones currently behind pipe. The RCE-4 well costs came in under budget and it was the quickest well drilled to date on the block. The RCE-4 and RCE-3 wells are currently flowing better than expected and the company is choking the wells back in an effort to manage the reservoir and discourage premature water production. Arrow plans to engage the pumps and slowly increase production once the wells have stabilized.
Comment: With top flight management, and updates that you could set your watch to, Arrow remains one of the best small cap oilers on the market (arguably the best). One would imagine that the recent dip to 14.75p will be regarded as a “steal” within just a few weeks.
Verici Dx (VRCI), a developer of advanced clinical diagnostics for organ transplant, updated on its operational progress made since the release of its interim results in September 2022. The company said it has continued to make significant progress in executing its strategy, resulting in the full commercial launch of Tutivia™ in January, with Clarava’s™ initial launch expected before the end of this year. It has achieved its internal target of attracting three key, leading US transplant sites as early adopters for Tutivia™, a critical step that is enabling it to demonstrate the adoption and integration process for clinicians.
Comment: Arguably one of the more off the radar plays in its space, today’s update from the company is certainly worthy of yesterday’s 26% share price rise…
KEFI (KEFI), the gold and copper exploration and development company, provided its Q1 2023 Quarterly Operational Update. The company said its working environment has improved significantly in both Ethiopia and Saudi Arabia. At the current gold price of c. US$2,000/oz, KEFI’s beneficial interest in the estimated Net Operating Cash Flow from Tulu Kapi alone is estimated to be c. £75 million average per annum and in the NPV is estimated at £207 million , or respectively 1.8 pence and 5 pence per current KEFI share in issue.
Comment: If the bold “Kefiomics” of 1.8p a share and 5p a share, as compared to the current 0.735p, does not get the share price going, what will?
Galileo Resources (GLR) informed shareholders on progress in relation to the Afrimat option to sell shares in Glenover and in relation to target delineation over the Bulawayo Gold Project in Zimbabwe. The company said it was very pleased with the progress of our gold projects in Zimbabwe. A combination of the significant level of small-scale mining activity in the area, combined with the results of its own geophysics and geochemistry has added to its confidence and it looks to forward drill testing the targets it has generated as soon as all results are to hand.
Comment: Today’s update should at least help the recent rebound attempt from the 1p zone for the shares, after a rather overdone retreat from the 1.6p zone.
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