Eurasia Mining (EUA), the iridium, osmium, palladium, platinum, rhodium, ruthenium and gold mining company, announced that it has entered into a securities purchase agreement for a strategic private placement at the price of 4.37p for gross proceeds of approximately £3.15m. The net proceeds of the placing are intended to be used exclusively at the Company level to maintain the listing in London and to finance the planned launch of the dual listing of Eurasia in Kazakhstan on the Astana International Exchange (AIX), as announced via RNS dated 16 October 2024. This Private Placement allows the Company to cease using the 2.5p convertible Sanderson Facility.
Comment: EUA has been a winner in terms of the hopes for peace in Ukraine, and moves to secure its position funding wise, however the geopolitical situation pans out in coming months. The dual listing should also be a strong source of funding going forward too.
Lift Global Ventures (AQSE:LFT) updated on the Group’s performance during the six-month period to 31 December 2024. The Company’s flagship investment, Miriad, a financial PR and IR consulting company run by well-known stock market commentator and the Company’s CEO, Saqib “Zak” Mir continues to perform well, with healthy revenues and profits. In the period, Miriad has generated turnover of £204,853 and a net profit after tax of £90,168. Zaks Traders Cafe has built up a very loyal following both on X where it is one of the leading financial PR companies with over 25,700 followers but also via its website https://zakstraderscafe.com. Corporates certainly have a choice of different platforms in which to distribute key messages to the market and clients of Miriad favour the content and distribution from a market leader in Zak Mir.
Post period end, on 31 January 2025, Lift announced that TAE is in advanced discussions with a Southern African state investor in relation to an investment into TAE. The proposed investor is looking to invest in oil and gas infrastructure and has undertaken extensive due diligence in relation to the TAE gas pipeline projects.
Westminster Group (WSG), a leading supplier of managed services and technology-based security solutions worldwide, announced its unaudited interim results for the six months ended 31 December 2024. Group revenues up 26% to £3.7 million (H1 2024: £2.9m). £1.1m added to Westminster’s UK based annual recurring revenue stream.
Comment: It can be seen from today’s announcement, as well the run of recent updates, that WSG is gathering serious fundamental moment, and one would expect this to be reflected in the market’s rating of the company.
Asiamet Resources (ARS) advised shareholders that all major engineering and technical studies necessary to deliver the optimised DFS for the Company’s flagship BKM Copper Project, located in Central Kalimantan, Indonesia are complete. At the recommendation of the prospective lenders, the Company is currently finalising supplementary analysis on power supply to ensure alignment with lender financing criteria. This final piece of analysis is expected to be delivered shortly and marks the last significant component of the DFS.
Comment: ARS gets itself even more lender friendly, something which suggests that we are in the imminent run up to such a deal, and should see the share price continue to re-rate accordingly.
Woodbois (WBI), the Africa-focused forestry, timber trading and afforestation company, said it intends to conduct a fund raising to raise approximately £2.65 million by way of a subscription at 0.05p. In addition, the Company has granted two Subscription share option agreements to raise up to £0.65 million.
Comment: Just when you think that WBI shares are going to go up and stay up and that the extended bear run is finally over, there is another placing. At least on this occasion the shares have not been hit as hard as previously.
GCM Resources (GCM), the AIM traded resource exploration and development company, announced an equity raise of approximately £1.0 million at 3.0 pence per new Ordinary Share. The net proceeds from the Placing are intended to be used by the Company for working capital purposes.
Comment: GCM joins in Fundraise Friday on the London stock market, reminding us that the company is taking advantage of the recent strong share price rise, as well as doing the honours in terms of covering the cost of its stock market listing.
Incanthera (AQSE:INC), the Company focused on innovative technologies in dermatology and oncology, provides the following commercial update. The Company is pleased to confirm that its immediate focus is on delivering its luxury skincare brand Skin + Cell to the market. As previously advised, the Company is in discussions with a number of parties about potential market entry points in different jurisdictions.
Comment: The update today is helpful, especially in the sense that the market seems to have missed the patent dispute resolution RNS earlier in the week, something that in itself should have been enough to bounce the share price back up significantly.
