Wishbone Gold (WSBN) announced an update regarding the current diamond drill program at its Cottesloe project located in the Paterson Range in Western Australia. The project consists of three tenements totalling 50 blocks covering an area of 165km2 and is considered highly prospective for precious and base metals. WSBN it was great news to have hit such interesting mineralisation and still not at target depth. It looks forward to the assay results once the drill program is completed and anticipate more good news.
Comment: Given the accelerated pace of newsflow one would expect WSBN shares to accelerate off the recent 2p support zone. Indeed, one would feel that it is quite an achievement for the stock to be at current levels given the progress being made.
Neometals (NMT) announced the discovery of visible spodumene at its 100% owned Spargos Project located 50 kilometres southwest of Coolgardie in Western Australia. The company said that whilst Neometals core focus remains the commercialisation of its downstream battery materials technologies, our senior executives have the capacity and expertise to maximise value from what could be an exceptional upstream lithium opportunity.
Comment: In NMT we now have two companies for the price of one, or given the share price, less than one. Adding in lithium to the mix underlines the value proposition at this company given the low stock market rating.
PCI-PAL (PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to announce that it has signed a new reseller partnership with Zoom Video Communications Inc. PICP said it was delighted by this new partnership with Zoom, which further expands its partner eco-system incorporating another of the world’s leading business communications providers leveraging PCI Pal’s patented, innovative solutions.
Comment: It is always wonderful when small caps announce deals with international names. It is equally frustrating when we do not even get a hint about how much value is in the deal for the small company.
Corcel CRCL) announced that it has received notice from the Operator of the onshore KON-11 block in Angola, where it has a 20% working interest (18% net), that the Tobias 14 well has now spudded. The Operator is Sonangol, the largest national hydrocarbon producer in Angola. CRCL said following closely on the positive initial results of TO-13, the Operator has now completed the rig move and spudded the TO-14 well. It expects a broadly similar timeline to results as with TO-13, and its look forward to initial flow testing of this well once target depth has been reached.
Comment: It would appear that CRCL jumped the gun earlier in the month, as if today’s news was already in the mix. It will be interesting to see how the stock performs now the big announcement has actually arrived.
Alkemy Capital Investments (ALK) announced that its wholly-owned subsidiary Tees Valley Lithium Limited has entered into a lithium supply heads of terms agreement with international trading house Wogen Resources Ltd. The agreement will secure lithium feedstock for the first train of TVL’s proposed merchant refinery which will be located at the Wilton International Chemical Park in the Teesside Freeport, UK. ALK said signing an agreement with a leading international lithium trader is a significant validation of the project showcasing TVL’s strategic drive to ensure consistency in its refining operations backed by Wogen’s global expertise and robust trading operations. The Company is in advanced discussions with a number of other feedstock suppliers and offtake customers and looks forward to providing further updates in due course.
Comment: We already know that at this stage in its life cycle the name of the game for ALK is to secure as much offtake as possible, which effectively is money in the bank for it to tick its financing boxes.
Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced that the three planned Diamond Core drillholes have now been completed at the Pitfield Project in Western Australia, and concurrent geological mapping and rock chip sampling has identified new, high grade TiO2 drill targets along the central and southern high-density core of the giant mineral system. The company said its most recent round of work at Pitfield has generated some extraordinary results, with many rock chip samples exceeding 10% TiO2, and one value of an exceptional 21.49% TiO2. In addition, the diamond drilling that we undertook in tandem with this surface sampling demonstrates that stratabound titanium-rich mineralisation remains completely open at depth at 350m, and along strike, once again reinforcing its view that it has discovered a primary titanium asset of perhaps unparalleled size and scale.
Comment: It would appear that EEE remains on track in terms of proving the “giant” nature of Pitfield, although one would suspect that there are only few in the market who have any quibbles regarding the merits of what the company is sitting on.
Biome Tech (BIOM) owns patented technology and its trading update of the Q3 reports a 19.6% increase in Revenue to £5.2m. There are two subscale non complementary business. Its bio-based and biodegradable plastics replaces oil-based polymers and s continues to grow. There are several new customers particularly for its flexible packaging films and filtration material in North America. The low growth FT Tech division’s turnover continued its decline with Q3 revenues down to £0.3m compared to £0.7m, but bravely setting expectations of a stronger Q4 as new business in set to be closed … hopefully. At the interims to June, BIOM lost increased to £1.1m from £0.6m. There is no bank debt and the £0.85m CLN is due for repayment in 2026.
Comment: At 122.5p with a mkt cap £4.6m not much is expected but the need for its Aim listing without some corporate action could be questioned.
Cellular Goods (CBX), announced that its wholly owned subsidiary King Tide Carbon Canada Ltd., has achieved a significant milestone with the production of kelp-derived biochar that paves the way for carbon dioxide removal (CDR) credit production and a range of applications in agriculture, environmental restoration and industry. CBX said King Tide’s mission is to harness the power of the oceans to remove carbon dioxide from the atmosphere sustainably and at scale. The company remains dedicated to pioneering sustainable solutions that benefit both the environment and society.
Comment: One would imagine that creating value for shareholders of CBX is just as important as harnessing the power of the oceans to remove carbon dioxide from the atmosphere sustainably and at scale.
Bradda Head Lithium (BHL), the North America-focused lithium development group, announced initial results from core drilling at San Domingo, Arizona. This is the first set of assays released from the Company’s current 6,100m (20,000 ft) programme, which is 65% complete. So far, assays have been received from only 14 holes totalling 993m, with grades of up to 0.83% Li2O over 6.35m and 1.03% Li2O over 3.05m identified. The company said the elevated Ta and Sn levels show encouragingly strong comparisons to LCT-type systems, evidence of our robust lithium pegmatite district. Importantly, both Midnight Owl and Bolt targets continue to provide opportunities to expand on the lithium mineralisation, with the goal of defining near surface resources.
Comment: Given the ongoing share price struggle, possible overhang, and sentiment in need of boosting, one wonders whether today’s announcement carries enough weight to turn BHL stock around in a meaningful way.
Saietta Group (SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, announces that its 49.5% owned Indian joint venture, Saietta VNA, has received an order for complete eDrives from its lead Indian client for a second of their light commercial vehicles. The company said this is the second order secured by its Indian JV in quick succession from the same mainstream Indian lightweight vehicle manufacturer which demonstrates the success of our technical collaboration. It has solutions for two further product lines for them also under development which we expect to mature into orders in time. It believes this confirms market pull for its modular products and services in this highly demanding, cost-competitive market.
Comment: SED is in a hot area, but one that is volatile and prone to profit taking if the newsflow does not get continually topped up. SED looks to be on track in terms of feeding the bulls with its latest RNS.