Fulcrum Metals (FMET), a company focused on mineral exploration and development in Canada, announced that it has appointed Jason Brewer as a strategic adviser to the Board of Directors with immediate effect. FMET said it would like to welcome Jason Brewer as a strategic adviser to Fulcrum’s board at an exciting time in the company’s development. Jason has a wealth of experience in the listed junior mining space, and we look forward to drawing on his experience and expertise at this pivotal stage in Fulcrum’s growth in both Canada and as a listed company.
Comment: One of the necessities for small cap growth companies to reach success is that along their journey they have the ability to pull rabbits out of the hat. In this respect it can be said that calling upon mining sector golden boy Jason Brewer is a rabbit worthy of a leading role in Watership Down. This should not only raise the profile of FMET, but also ensure that it gets the appreciation in the market that it has deserved since IPO.
Pensana (PRE) there is an update on the nearly fully funded Longonjo rare earth mine in Anglo, with pictures showing substantial progress. It starts with pouring concert to construct a 316- person $1.3m modular camp due to arrive on site this month. All the site access roads have been completed and a 5,000-litre potable water tank is ready for installation. There is a timetable of how the $200m will be sent with the processing plant is to be constructed from May 2024 commissioning of the various circuits will commence in March 2025 with final commissioning of the mine by April 2026 which is after the cold commission in August next year.
Comment: The shares at 30p with a £86m Mkt Cap seem immune to these sending progress reports. PRE are however reported to be in advanced discussions for the offtake of the highly marketable, radionuclide-free mixed rare earth carbonate (MREC) which would show money coming in.
Good Life Plus Plc (AQSE: GDLF), an innovator in the luxury prize draw and rewards sector, announced the completion of a subscription at a price of 2.25p raising £2.03 million. Of the £2.03 million raised via the Subscription, £2 million has been subscribed by Winforton Investments Limited, a private investment vehicle associated with Mark Blandford, the founder of Sportingbet Plc, subsequently acquired by GVC Holdings (now renamed Entain Plc). GDLF said that oupled with David Craven’s recent appointment as Chairman, a prominent figure in the global gaming world, it is now well positioned to transition from a disruptor to an industry leader. Its innovative approach aims to revolutionise the prize draw and rewards landscape.
Comment: It can certainly be said that Mr Blandford is keen in stepping up to the plate on almost all of this subscription. One would imagine that GDLF now has more than enough cash at hand to execute its strategy and join the giants of the prize draw field under the stewardship of sector heavyweight David Craven.
EnSilica (ENSI), a chip maker of mixed signal ASICs, announced that it has secured a new contract with a prominent European automotive and industrial semiconductor supplier, worth €3.8 million over the current and next financial year, with work starting imminently. ENSI said it was delighted to secure this contract with a distinguished European customer, which further underpins its expertise in Arm-based technology for automotive and industrial applications and solidifies its position as a premier choice in Europe for these markets.
Comment: Although ENSI is around $2trn short of the market cap of Nvidia, it is at least making a decent show of being one of the UK’s leading lights in the chip space. Today’s news is literally a shot in the ARM for the recent share price boost.
Braveheart Investment Group (BRH), announced that, further to the announcement on 22 December 2023 regarding the sale of Phasefocus Holdings Limited to Bruker UK Limited, all outstanding conditions to the sale have now been satisfied and the sale has therefore completed. The total proceeds receivable by the Company for the Sale was approximately £2.1 million. BRH said the sale of its holding in Phasefocus represents a gain of £1.31m over cost, which is a highly satisfactory CAGR of 48.29% for Braveheart shareholders.
Comment: BRH seems to have been laying low in the recent past, as has its share price. Presumably a significant chunk of change coming in through the door will revive some investor interest, especially with the big CAGR number.
Rockfire Resources (ROCK), the base metal, precious metal, and critical mineral exploration company, announced that the Company’s active drilling program at its 100%-owned Molaoi zinc deposit in Greece has encountered the highest germanium grade drilled by Rockfire so far. ROCK said Molaoi has an Inferred JORC resource of 250,000 tonnes of zinc equivalent metal. Its overall objective is to increase the resource to between 400,000 and 450,000 tonnes of zinc equivalent metal content, which would provide a 10-year mine life for a modest underground mining operation.
Comment: The potential of Molaoi has never been in doubt, and therefore ROCK proving up what it is sitting on there should get the shares back to the ride side of 0.3p and the higher end of the range, sooner rather than later.
Mirriad (MIRI), the in-content advertising and virtual product placement company, announced that it has entered a two-year agreement with a leading US media and entertainment conglomerate, renowned for its diverse portfolio of movie studios and productions, television channels and streaming platforms. The Agreement will enable the Partner to employ its platform to identify virtual product placement opportunities and introduce in-content advertising into its content. MIRI said this lengthening line of agreements with US ‘majors’ or ‘super-majors’ shows that the ‘Mirriad-inside’ strategy of integrating in-content advertising across the entire TV and video media ecosystem is gaining significant traction.
Comment: Shares of MIRI have now drifted back to their lower levels, so it will be interesting to see whether today’s glitzy RNS is enough to turn the tide, given the lack of financial or name of counterparty detail.
Panthera Resources (PAT), with assets in West Africa and India, announced the issue of 1,999,257 new ordinary shares of 1p each in the capital of the Company, at an average issue price of 5.71 pence per new Ordinary Share.
Comment: The issue of shares to management in the case of Panthera does rather remind us that should the company win big versus India regarding the Bhukia Gold Project, shares rather than cash will be the commodity of value.
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