Skip to main content

Your stock market edge

Power Metal Resources (POW), the London-listed exploration company seeking large-scale metal discoveries across its global project portfolio, announce the completion of the acquisition of 75% of the Issued Share Capital of GSA (Environmental) Limited initially announced on 29 February 2024. POW said it was delighted to announce the completion of this seminal transaction for Power Metal. It has very exciting plans for this business and is looking forward to updating shareholders soon on contract signings and progress towards a significant revenue contribution to the Power Metal portfolio.

Comment: POW delivers a significant RNS for the first time in nearly a month, following the latest sector trend of generating revenues from waste products, a key driver for the global energy transition. This is especially the case given the focus on critical metals.

Metals One (MET1), which is advancing strategic metals projects in Finland and Norway, announced it has raised gross proceeds of £895,000 at a price of 1p to support the development of the Finland – Black Schist Ni-Zn-Cu-Co Project. MET1 said the Black Schist Project is the cornerstone of Metals One’s ambition to build a scalable, low-cost strategic metals producing asset. Its decision to raise funds directly and replace the farm-in agreement demonstrates its confidence and that of its investors in the project’s development potential. With the EU actively encouraging the development of strategic projects like its one which aim to supply critical metals from within the bloc, the opportunity is highly compelling. It is thrilled with the investor support for its work programme and look forward to updating the market as it achieves key milestones.

Comment: Not only is raising £895,000 in current stock market conditions a decent achievement, the fact that MET1 is confident enough to replace its farm-in agreement suggests that the latest placing will move the dial for the company.

Union Jack Oil (UJO), a UK and USA focused onshore hydrocarbon company, announced its audited results for the year ended 31 December 2023. UJO said the Board’s confidence has once again been supported by the Company’s solid 2023 financial results, confirming its resilience, both financially and operationally. In the UK, UJO will remain focused on the development of its flagship project, Wressle, where the Operator and joint venture partners have ambitious near-term appraisal and development programmes planned. The Board is of the opinion that, within the Wressle development, there remains significant material upside which will support the Company with revenues for at least another decade.

Comment: One would expect last month’s share price lows near 14p to be the last time we see such weakness in UJO’s, especially as the company finesses its business on both sides of the Atlantic. The comments regarding Wressle’s potential longevity speak for themselves.

MTI Wireless Edge (MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, announce its financial results for the three-month period ended 31 March 2024.  Generated revenues of $11.24m (Q1 2023: $11.28m), a solid start to the year with new business wins expected to drive revenue growth in Q2 and later in the year. 20% increase in EBITDA to $1.68m (Q1 2023: $1.39m).

Comment: Included in the RNS Hotlist safe in the knowledge that no one else will cover this stock, since the turn of the year it seems that the share price is finally turning around for good, driven by existing and future new business.

KEFI (KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, advised the Board of Tulu Kapi Gold Mines has formally launched the Project. KEFI said it can now proceed to safely complete our Early Works on schedule and satisfy all conditions precedent to drawdown full project finance as outlined, thus enabling the Major Works to commence from October 2024.

Comment: Although recent announcements have all sounded characteristically puffy, they have moved the share price, and it would appear that some real progress is finally being made at KEFI.

Microlise Group (SAAS), a provider of SaaS based transport technology solutions to fleet operators, announces the signing of contracts with GSF Car Parts and Foodstuffs South Island with a combined contract value of over £2 million. SAAS said that signing FSSI means it is now servicing some two thirds of the New Zealand grocery freight industry. This is an incredible achievement such a short time after entering the New Zealand market and demonstrates the strength of its offering and its potential to become market leaders in all the regions we operate in.

Comment: SAAS continues to be one of those excellent, under the radar, contract winning, scalable and international stock market winners. The points are underlined by the latest news from the land of the Kiwi.

Likewise Group (LIKE), the UK floor coverings distributor, announced its audited Final Results for the year ended 31 December 2023. Group Sales increased 12.9% to £139.5 million (FY22: £123.6 million). Underlying EBITDA of £7.9 million (FY22: £6.6 million). LIKE said the Group has again made significant progress in 2023, which has continued into the first four months of 2024, with Group Sales to the end of April increasing by 8.7% and Sales in Likewise Branded businesses increasing by 15.3% compared with the prior year. The Group continues to trade in line with current market expectations.

Comment: LIKE has been and remains one of the London stock market’s more successful recent listings: somehow not complaining about the economy, the LSE, and just getting on with growing the business has been a winning formula.