Electric Guitar (ELEG), the digital marketing and advertising company providing first-party data solutions, announces that the Board of 3radical Limited, Electric Guitar’s principal trading subsidiary, has instructed Paul Ellison and Christopher Errington of KRE Corporate Recovery Limited to market the business and assets of 3radical for sale, in anticipation of their being appointed as 3radical’s Administrators and completing a pre-packaged sale of the business and assets on a going concern basis to a successful purchaser.
Comment: Those looking for encouragement and inspiration in terms of either getting listed, or how rewarding being on the London stock market can be, may perhaps not be wise to read the above paragraph. They may prefer to join the millions of workless, or get a cushy job in the public sector.
Contango Holdings (CGO), a company focused on unlocking value from the +2 billion tonne Muchesu coal project in Zimbabwe, announced the publication of its annual financial and audited results for the year ended 31 May 2024 has now been submitted to the National Storage Mechanism. The Company would like to advise that further to this submission to NSM, the Company has now requested that the suspension of the share trading be lifted by the Financial Conduct Authority as soon as possible and normal trading of the Company’s shares to resume.
Comment: Given the water passed under the bridge since the suspension, it would appear that CGO is in a good place for a potentially decent return to the stock market, with a better valuation.
CleanTech Lithium (CTL), an exploration and development company advancing sustainable lithium projects in Chile, provided a corporate activity update which includes appointment of Anthony (Tony) Esplin as the Chief Executive Officer Designate and an update to the planned ASX listing. CTL said it was delighted that Tony has agreed to join us as CEO, initially under a consultancy arrangement to assist us with our planned ASX listing, and then as our full-time CEO once we commence trading on the ASX. This concludes a relatively long process to identify the right candidate for this important role and we were very encouraged at the quality of the candidates who were keen to take up the reins at CleanTech Lithium. A conversation between Executive Chairman, Steve Kesler, and CEO Designate, Tony Esplin, is available to watch here: https://www.investormeetcompany.com/meetings/appointment-of-ceo
Comment: CTL is now very much set for the forthcoming ASX listing, and is doing so with a new top flight CEO. This should be the last piece of the jigsaw as ahead of a re-rate for the shares from current lowly levels.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provide an update on operational activity and announce the filing of its Interim Condensed (unaudited) Consolidated Financial Statements and Management’s Discussion and Analysis for the three and nine months ended September 30, 2024. The strongest quarter in Arrow’s history for production, revenue, EBITDA and cash flow. Successfully drilled the first three horizontal development wells in the Carrizales Norte (CN) field. Recorded $21.3 million of total oil and natural gas revenue, net of royalties, representing a 53% increase when compared to the same period in 2023 (Q3 2023: $13.9 million).
Comment: A brilliant company operationally, with a dazzling performance. It is a shame that the powers that be are not so good at communicating their skills and the merits of AXL to the market. But of course, no one’s perfect, and at current share price levels this provides an opportunity.
Andrada Mining (ATM), a critical raw materials producer with mining and exploration assets in Namibia, announced its unaudited interim financial results for the six-months ended 31 August 2024. ATM said that as the year has progressed, the Company has made significant progress. The value-accretive restructuring of UTMC simplified Andrada’s ownership and operational structure in the underlying licences while empowering our local partners through equity ownership participation at Group level.
Comment: ATM seems to have copied the Arrow Exploration (AXL) investor relations strategy, perhaps in just assuming the stock market will realise what a great company it is. Indeed, it really is. It would take a lot of effort to get the shares down to 2.3p / £38m, but somehow the company has managed it.
Phoenix Copper (PXC), the AIM-quoted USA-focused base and precious metals emerging producer and exploration company, announced that it has launched a new Company website, which can be viewed via the following link: https://phoenixcopper.com.
In conjunction with this rebranding exercise, the Company also announces that an updated Corporate Presentation has been uploaded to the website and is now available for download via: https://phoenixcopper.com/investors/corporate-presentation/.
Comment: While we await what should be definitive funding news, fans of PXC have some fresh material to read.
Blencowe Resources (BRES) announced that it has accepted an invitation to join the prestigious international SAFELOOP consortium managed under the European Commission’s €100 billion Horizon Europe Programme, focussed on the European Union’s renewable energy transition. BRES said it was delighted to join the high profile SAFELOOP Project, positioning Blencowe at the heart of Europe’s transition to renewable energy. Being chosen as the exclusive natural flake graphite concentrate supplier for SAFELOOP provides a potentially huge offtake opportunity ahead that can provide a valuable annuity income stream for our Company and long term value for shareholders.
Comment: Today’s news for BRES underlines the way that currently the company is well appreciated by the industry, rather more than the current share price / valuation. The fact that the company has achieved significant US Government funding is on its own a reason for the shares to be way north of where it is currently.
Hummingbird Resources (HUM) announced that, pursuant to the proposed debt-to-equity conversion detailed by the Company on 6 November 2024, the Company has entered into a conditional binding subscription agreement (with CIG and Nioko Resources Corporation for the issuance of, in aggregate, 863,079,491 new ordinary shares in the Company of nominal value £0.01 at a price of 2.6777 pence per share. The issue of the Subscription Shares facilitates the conversion of approximately £23.1 million (c. US$30 million) of existing loan facilities provided by CIG into equity.
Comment: Given that HUM’s debt for equity deal was originally taken by the market about as well as Rachel Reeves from Customer Relations recent Budget, it could be the case that the situation stabilizes just a tad now the deal has been inked.
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