Yesterday Ananda Developments (AQUIS: ANA), the company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, announced its unaudited management statements for the quarters ended 31 July 2023 and 31 October 2023. The company said subsequent to the end of the periods, on 1 November 2023, the Company announced that Ananda and DJT signed a MOU with Nottingham Trent University to pursue third-party grant funding to progress DJT’s medical cannabis breeding programme and its low carbon medical cannabis cultivation and manufacturing. The shared vision, beyond the MOU, is to create a formal Strategic Partnership and the establishment of a Cannabinoid Centre of Excellence at NTU.
Comment: It has been a transformational year for ANA, something which has yet to be fully appreciated by the market. This provides decent upside for those arriving at the stock now, especially given highlights such as patent applications, the MRX acquisition, and NHS Scotland funding for its CBD oil formulation.
In its AGM Statement, Atlantic Lithium (ALL) highlighted a number of catalysts in its sights to further enhance the value of the Project and move us closer to achieving our goal of lithium production at Ewoyaa. These include: A maiden Mineral Resource Estimate for feldspar production, due this quarter. Results of the Feldspar Feasibility Study, assessing the viability of feldspar production at Ewoyaa, due in Q1 2024. Results of the Downstream Conversion Study, assessing the viability of establishing a conversion plant in Ghana, also due in Q1 2024; Further results of the drilling programme currently underway, due for completion in Q2 2024, with an updated Mineral Resource Estimate for spodumene production due in Q3 2024. The award of procurement contracts on the Project’s critical path; and Key milestones required before breaking ground, such as EPA approval, Mining Lease ratification and the issue of the Mine Operating Permit.
Comment: There are plenty of milestones for investors to look forward to in 2024 for ALL. Indeed, more than many companies have throughout their history. The missing ingredient is that the shares return to where they were at the beginning of this year, 40p.
Greatland Gold (GGP) announced the results of surface sampling across its Panorama East, Panorama and Panorama North tenure. The Panorama project is located approximately 200km south east of Port Hedland in the Pilbara region of Western Australia, and is considered prospective for Archean gold and nickel. The combined soil and rock chip sampling program was designed to follow up along strike of previous surface sample results and to test conductors identified in an airborne electromagnetic survey. The company said its recent surface sampling at Panorama has delivered a strongly positive result for nickel prospectivity. The large extent of the prospective Dalton Suite ultramafics within our tenure, and the existence of coincident untested conductors, gives it confidence in the potential for a substantial nickel discovery at Panorama.
Comment: Signs of fundamental movement at GGP, as well as a decent move for the gold price through $2,000, have already worked wonders for the share price. The latest nickel news should add to the moment see so far this autumn.
Semper Fortis Esports Plc (SEMP.AQSE) announced that it has conditionally agreed to acquire the issued, and to be issued, share capital of Good Life +, other than the shares to be issued to the Company. SEMP said it was delighted to announce the proposed acquisition of GL+ and the associated Subscription and Placing. With its mission to reinvent the winning experience by offering everyone a shot at the “good life” and to revolutionise the prize draw sector by providing a more exciting, transparent and current offering with improved odds of winning facilitated through a monthly membership that also has member benefits, GL+ has seen significant growth over the last 12 months and currently has over 21,000 active members, generating around £210,000 in monthly recurring revenue.
Comment: We have a decent denouement for Semper, and the introduction of the Good Life+ concept, arguably very well timed for the cost of living crisis. From a stock market prospective GL+ and its strong recurring revenues should prove attractive.
Eco (Atlantic) Oil & Gas (ECO), the oil and gas exploration company focused on the offshore Atlantic Margins, announced its results for the three and six month periods ended 30 September 2023. The Company had cash and cash equivalents of US$3.85 million and no debt. The Company had total assets of US$51.0 million, total liabilities of US$1.71 million and total equity of US$49.30 million. The company said it has made progress on all fronts across its exploration portfolio in 2023. The most notable development was the acquisition of a 60% Working Interest in the Orinduik Block, offshore Guyana, from a subsidiary of Tullow Oil Plc. This transaction made Eco the Operator of the licence and brings its total stake in the Block to 75%. It has already commenced with a farm-out process and opened a data room, receiving early interest from a number of multi-national oil and gas companies.
Comment: It is a shame that debt free Eco has not been able, or perhaps not wanted to get its message across to the market, given the strong portfolio and the obvious farm-out interest.
Fulcrum Metals (FMET), a company focused on mineral exploration and development in Canada, is pleased to announce that its wholly owned subsidiary Fulcrum Metals (Canada) Ltd has entered into an option agreement to acquire a 100% interest in the Teck Hughes Gold Tailings project, located in Kirkland Lake, Ontario, Canada. The company said its strategic structuring of the tailings project agreement allows Fulcrum to conduct the necessary pre-production work without the upfront commitment of the acquisition cost, which based on the non-compliant resource calculations of 121,700 ounces of gold equates to less than $3.30 per ounce of gold.
Comment: FMET’s tailings news is a good new angle for followers of the company, and of course $3.30 an ounce is attractive from any perspective as gold finally heads higher.
Ariana Resources (AAU), the AIM-listed mineral exploration and development company with gold mining interests in Europe, announced a further set of results from the ongoing drilling programme at Salinbas. The company said this is yet another great set of results from the Salinbas Project. Importantly, wide zones of high-to-moderate grade mineralisation are defined in a number of areas. Over 37,000 metres of drilling has now been undertaken in the wider Salinbas Project area, inclusive of Salinbas and Ardala, but also including the recent discovery area of Hizarliyayla to the south.
Comment: One would hope that after the shares have been a chronic underperformer, the latest bump for gold and fresh news from Salinbas, will mean that the stock ends 2023 in recovery mode.
Oncimmune Holdings (ONC), an autoantibody profiling company to the pharmaceutical and biotechnology industry enabling precision medicine, provide an update on the progress it is making with its strategy. The company said it was encouraged to see the commercial traction already being made on delivering our strategy, including its ability to expand the application of its ImmunoINSIGHTS platform into drug discovery as well as clinical trials.
Comment: An upbeat update from Oncimmune should be enough to finesse the recent strength in the stock. Commercial traction is key, as the company says. But it may be argued that ONC is an investment more suited to institutional investors than merely the punters.
StreaksAI (STK), a UK-based generative Artificial Intelligence (AI) platform, announced its unaudited financial results for the six months ended 31 August 2023. The company said the AI sector has grown rapidly in 2023 and Streaks has moved quickly to meet consumer demand. With significant appetite for chatbot products from corporate customers looking to improve their customer service, as well as consumers looking for entertainment or companionship, there is a great opportunity for Streaks to take advantage of AI’s upward growth trajectory. It is thrilled with the progress it has made in developing its AI products and it is already seeing consumer interest grow as we it has now entered its revenue-generating phase.
Comment: Presumably consumer interest is currently being driven by the snazzy TikTok style videos the company showcases on Linkedin. It maybe that we will have to wait a little for Generation X investors to catch up with a Generation Z concept, in terms of buying STK shares.
Serabi (SRB), the Brazilian focused gold mining and development company, released its unaudited results for the three and nine month periods ended 30 September 2023. SRB said this has been another excellent quarter for Serabi as it seeks to deliver consistent production and drive growth in the business. Strong quarter on quarter production is supporting improving financials with EBITDA growing to US$8.79 million and continued growth of pre tax profits. Cash balances have grown to US$15.4 million (US$14.7 million net of cash held under the Vale Exploration Alliance) compared to US$7.2 million as at 31 December 2022, with net cash attributable to the Group increasing by US$2.4 million in the third quarter.With the very recent news of a threefold increase in mineral reserves at the Palito Complex confirming the continued longevity of the mine, and on-going development of Coringa being funded from cash flow, the first nine months have been very rewarding.
Comment: A knockout update from Serabi, well timed given gold’s latest strength. Development being funded from cash flow is always a magic phrase.