- Bitcoin is knocking on the door of the magic $100k mark, as the rally in the run up to pro-crypto Donald Trump’s Presidency gains yet further momentum. One of the other drivers is the announcement of the departure of the current SEC Chair in January, an organization that has tried its best over to ensure the failure of digital assets. Bitcoin miner Vinanz (AQSE:BTC) nudged all time highs at 14p, where Web3 specialist Coinsilium (AQSE: COIN) rallied 21% yesterday to 4.45p, with the market viewing both companies as leveraged plays on the cryto space.
- After delivering the “small cap deal of the year” in the form of a $30m producing copper mine in Morocco, there were not one, but two TR1’s yesterday for MetalNRG (MNRG). Two rather keen investors are up to 9% on the shareholder register. This is after EQTEC (EQT) disposed of its holding in the company. Last month MRNG peaked at 0.7p, versus 0.48p currently.
- Shares of helium / hydrogen group Georgina Energy (GEX) rose over 20% off the back of a TR1 from CSS Alpha Fund pushing above 5% on the shareholder register. GEX is now back over 10p after falling below 8p on malicious keyboard warrior mudslinging regarding the company, which now appears to have run out of rant grade alleged mud.
Amigo Holdings (AMGO), a former UK provider of mid-cost credit now in run-off, announces its financial results for the six months ended 30 September 2024. AMGO said it was continuing its search for a reverse takeover partner, following its equity raise and the appointment of Jim McColl to our Board. If a reverse takeover were to go ahead, it would deliver some value to shareholders that would otherwise not be possible.
Comment: Perhaps rather counter-intuitively, AMGO shares are up over 200% so far this year, a testament to the efforts of the company to get itself ship-shape, and allow it the chance of getting to the Promised Land of a RTO.
Tekcapital (TEK) the UK intellectual property investment group, provided updates on portfolio company Guident Ltd. TEK said it was very excited about the recent progress of Guident and the performance of its leadership. It believes the timing for Guident’s potential IPO next year is quite opportune considering the transformative capital market events in the AV industry during the past sixty days. It was looking forward to Guident realising its first mover advantage in the rapidly developing AV industry and the potential contribution it can make to saving lives.
Comment: While TEK has been something of a spin-off master, the irony is that little of the benefit of the likes of MicroSalt (SALT) has filtered through to the share price. Perhaps a future Guidant IPO could be the one that finally moves the dial.
Belluscura (BELL), a medical device developer, announced that its wholly owned subsidiary, Belluscura LLC, has entered into a credit facility of up to $4 million with Sallyport Commercial Finance of Houston, Texas. The facility is for 3 years and covers accounts receivable, purchase order, inventory and cash flow financing. BELL said since releasing the DISCOV-R earlier this year in a limited direct-to-consumer launch, it has seen increasing month-on-month demand for the product. This new facility secured from Sallyport provides the Company a platform to initiate a limited launch of the DISCOV-R into the important B2B market.
Comment: The $4m facility could / should be a decent driver to allow BELL to deliver on its key DISCOV-R campaign, where financing concerns have been keeping a lid on sentiment and the share price.
Hemogenyx Pharmaceuticals (HEMO), a biopharmaceutical company developing innovative therapies and treatments for blood diseases, announced that the Institutional Review Board (IRB) of the Company’s first clinical site has granted approval to initiate a Phase I clinical trial of the Company’s lead asset, HEMO-CAR-T, which has now been given the formal designation HG-CT-1, for the treatment of relapsed/refractory (R/R) acute myeloid leukemia (AML) in adults.
Comment: After years of delivering promises rather than reality, it would appear that HEMO is finally getting itself over the line, or at least a line where practical results could be delivered.
Mast Energy Developments (MAST) announced an update regarding Pyebridge, the sale of one of its development projects, the execution of a new project finance framework agreement, board changes, and the appointment of a corporate broker. MED said it was pleased with the ongoing positive performance and financial results of Pyebridge since the start of the site’s gensets overhaul process announced earlier this year. Pyebridge’s increasing positive performance is a testament to the critical need for flexible power generation in the UK.
Comment: While MAST has been making positive noises in the recent past and today, and there seems to be some operational progress, shares of the group are still stubbornly bumping along the bottom.
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