(Alliance News) – Consumer prices in the UK cooled slightly in February, data from the Office for National Statistics showed Wednesday. Consumer price index inflation stood at 2.8% on-year in February, decelerated from 3.0% in January and lower than the 2.9% FXStreet-cited consensus. The UK consumer prices index including owner occupiers’ housing costs rose by 3.7% in the year to February, down from 3.9% in the year to January.
Comment: Given that inflation is down, one wonders why the good folks at the Bank of England did not cut interest rates last week? That is a rhetorical question. Instead, we are in the brace position for another tax for growth budget, in the form of the spring statement. It would seem that things are so desperate that rather than a wealth tax there are to be spending cuts on public services.
LifeSafe (LIFS), a fire safety technology business with innovative fire extinguishing and prevention fluids and fire safety products, announced the signing of an exclusive global distribution agreement between LifeSafe and Hurst Jaws of Life, Inc and Vetter GmbH two subsidiary companies of IDEX Fire & Safety. The Agreement is for an initial 18-month term and relates to the exclusive global supply of the Company’s wholesale and industrial fire extinguishing and prevention products into the professional fire sector.
Comment: Shares of LIFS opened this morning as the top riser of the day, something which finally acknowledges the progress the company is making and will make on revenues from a serious B2B distribution source.
Everplay Group (EVPL), a global independent games developer and publisher of premium video games, working simulation games and children’s edutainment apps, announced its unaudited final results for the year ended 31 December 2024. Double-digit growth in first-party IP revenues, which contributed 37% to Group revenues (FY 2023: 35%). 10 first-party IP projects are in the development pipeline, based both on established and new IP and to launch mostly in 2026 and 2027, supporting the Group’s focus on accelerating growth and improving profitability.
Comment: All the main metrics here are in the positive, with a great outlook for the next couple of years. As the cliché goes, what’s not to like. The shares are only mid-range as well.
Capital Metals (CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka (the “Project”), is pleased to provide the following update on drilling. CMET said aircore drilling within the Company’s northern EL168 area is continuing successfully, focusing first on the Initial Mining Area of the existing 17.2Mt high grade Mineral Resource. The purpose of the drilling is to increase the Mineral Resource, as well as to help with mine planning in particular for the IMA. A total of 380 metres across 41 drillholes have been completed in this programme to date. Previous hand auger drilling used to define the Mineral Resource only went to an average depth of 1.6 metres, whereas the aircore rig in use is drilling to depths of up to 15 metres before intersecting basement lithologies. CMET said “Drilling is progressing well with the cooperation and participation of the Geological Survey & Mines Bureau. This drilling campaign is targeted at significantly increasing the size and hopefully grade of the Mineral Resource and is an important component of the plan to reach a Final Investment Decision.”
Comment: As Bob Dylan said, “you don’t need a weatherman to tell you which way the wind blows.” As far as CMET has been concerned the Zakstraderscafe charting call on the stock has been to 2.6p initially by the end of this month, and so you don’t need the news to tell you which way the share price is going. Now that the news has landed though we are reminded once again of the exceptionally low capex here, as well as the ever increasing grade and size of the mineral resource. Above 2.6p points to 3.5p by the end of next month on a technical basis.
Thor Explorations (THX) announced that its wholly owned operating subsidiary in Nigeria, Segilola Resources Operating Limited has received a copy of the report of the Inter-Ministerial Fact-Finding Committee on the dispute between SROL and the Osun State Government. THX said it “would like to take the opportunity to thank the Honourable Minister for Solid Minerals Development and the Inter-Ministerial Fact-Finding Committee for their efforts in resolving these matters.”
Comment: If there was any final quibble as to why the share price of THX should not be 30p plus, it was the SROL / Osun dispute. With this out of the way, and in the run up to the next quarterly production numbers next month, the brakes should well and truly be off the share price.
Sovereign Metals (SVML) announced that it has received firm commitments for a placement of 47,058,824 new fully paid ordinary shares at an issue price of A$0.85 per share (New Shares) to raise gross proceeds of A$40,000,000 before costs (Placement). SVML said the Placement was strongly supported by new and existing shareholders, including large global institutional investors. Proceeds from the Placement will be used for development activities at the Company’s Kasiya Rutile-Graphite Project (Kasiya or the Project), located in Malawi, including permitting, studies, general working capital, and other corporate purposes.
Comment: SVML raises a decent amount of cash, near the top end of the recent share price range, something which should allow it to keep advancing and indeed accelerating, its flagship Kasiya project.
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