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Mirriad (MIRI), the in-content advertising company, announced it has worked with Microsoft to build a new API, establishing a roadmap for adopting Microsoft Azure and its AI capabilities for various use-cases. The company said partnering with Microsoft is an important milestone for the further development of its in-content advertising platform, proposition and business.

Comment: Tradition has it that when a minnow teams up with a giant, the deal is normally in the latter’s favour, unless the former spells out how much money is in the deal.

Panther Metals (PALM) the company focused on mineral exploration in Canada announced the award of Exploration Permit PR-23-000024 for drilling at the Manitou Lakes Project in Ontario, Canada. The company said it would like to thank the Wabigoon First Nations for the support shown during the exploration permit application process, the grant of this Permit will allow it to drill test the Barker area shear zone which has consistently returned highly anomalous gold in soils, over a target area that is still open in all directions.

Comment: It would appear that Wabigoon First Nations have assumed the role of The Man From Del Monte, in terms of Panther’s latest announcement.

Light Science Technologies (LST), the controlled environment agriculture technology and contract electronics manufacturing group, announced its audited results for the year ended 30 November 2022. The company said there’s no doubting that this was a challenging period for the company. However, the progress made during the year, as it expanded its routes to market across both divisions, means that it can look forward with a certain degree of confidence. It has a strong and growing product range providing solutions for a variety of customers and a very healthy pipeline of opportunities. It remains innovative and at the forefront of the sector and it is excited about the significant market opportunities.

Comment: Given how the area in which LST operates should really be at the zeitgeist, it is perhaps rather disappointing it has not so far been able to engage with the stock market to get its message across. Hopefully, it will for the rest of 2023.

UK Oil & Gas (UKOG) announced that Pinarova-1 has reached its final depth of 600 metres below surface. Electric logs over both the 9⅝ inch cased hole and 8½ inch open hole section have been acquired and the delivery of a final log interpretation is awaited. The company said the oil study’s primary objectives are to determine; a. whether the Pinarova oil sample matches the oil from the shot-hole seep, b. whether it’s derived from the same general Upper Jurassic source as E. Sadak or c. it has another origin from shallower Cretaceous origin. The geochemical results will assist the company’s current investigations into the possibility that a deeper light oil accumulation may also exist below the Pinarova area within Cretaceous limestones.

Comment: UKOG may still have its detractors, but it is clear that even they are struggling to throw stones at the company in the manner that they did even a few months ago.

Cambridge Cognition (COG), which develops and markets digital solutions to assess brain health, announced its preliminary audited results for the year ended 31 December 2022. The company said 2022 was a transformational year for Cambridge Cognition, marked by significant multi-year orders, sustained revenue growth, and the expansion of our core product set. It also successfully concluded an acquisition in 2022 with another right at the start of 2023. These have strengthened its technology portfolio and enable it to provide a full offering for CNS clinical trials.

Comment: Although it may be argued that the share price of COG has suffered due to the overall tech downturn, the company has pushed along its business model to a pleasingly mature level.

Trident Royalties (TRR), the diversified mining royalty company, provided an update on its activities during the quarter ended 31 March 2023. The company said It has been a positive quarter for the existing portfolio, with significant updates at the Thacker Pass Lithium Project, the Mimbula Copper Project continuing to ramp production, and the gold offtake portfolio delivering strong growth and cashflows.

Comment:  While shares of Trident have somewhat come off the boil since March, the company continues to be a cash machine, something which many in the mining space can only aspire to.

Prospex Energy (PXEN), the AIM quoted investment company, announced that the development of the photovoltaic hybridisation solar project at the El Romeral power plant, known as “Project Helios”, which would increase output from the plant by up to 60%, is progressing well ahead of the final investment decision, which is scheduled for consideration in June 2023. The company said the existing connection to the national grid network operated by Red Eléctrica de España at El Romeral is a significant asset.  Project Helios will allow Tarba to increase its capacity for power export in the near term alongside the capacity increase expected from drilling new gas wells on the existing El Romeral production concessions.  A revision to the application to drill new wells on the concessions was submitted in March 2023 and is now proceeding through the Environmental Impact Assessment process as required by the regulatory authorities.

Comment: While the shares may still be pivoting either side of 10p, it is clear that with the operational progress the company continues to make, the stock should be rather nearer to its February peak of 20p.


Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.