Despite all the court cases, (character) assassination attempts, luvvie / celebrity endorsements, ex-Presidential endorsements, and rabid media bias, President Trump has won again. Or did he win because of all of the above? Next time there is an anti-woke / populist candidate that the media / liberals do not want to win, perhaps try a different strategy.
Georgina Energy (GEX) provide an update on Hussar EP513 and Mt Winter EPA155. GEX said it was fully funded for its work programme at Hussar (including the re-entry well), to meet its obligations under the Mt Winter farm-in, and for general working capital. The Company received approximately £4.2m in August following the 31 July 2024, being the date the enlarged share capital was admitted to trading on the Equity Shares (Transition) category of the official list and the main market of London Stock Exchange. The use of Net Proceeds is set out in the Prospectus dated 11 July 2024.
Comment: GEX reminds us of its strong financial position, that it is on the main market of the London Stock Exchange, and that it is progressing operationally. All of this despite recent swivel-eyed commentary on the company, whose apparent only motivation is to get the share price down for shorting purposes, by outdated tabloid journalism methods, that are totally inappropriate to the stock market.
Blencowe Resources (BRES) announced a retail offer via BookBuild up to the value of £195,000 at an issue price of 4p. This Retail Offer follows a recent successful fundraise of £1.5 million. BRES said it was pleased to offer retail investors the opportunity to participate in Blencowe’s growth journey at an attractive 4p entry price, aligned with the discount to recent trading levels from our recently announced fundraise. This Retail Offer, combined with the successful £1.5 million fundraise, July Fee Shares and Subscription Shares, and the remaining DFC Grant, will enable it to close the remaining financing gap and be well-capitalised to complete the Orom-Cross DFS.
Comment: We should see BRES shares finally get the rating they deserve, well above the current 4p zone, as the company bridges its funding cap, and is buoyed by non-diluting grant funding. The latest share price dip should be the last.
Mobile Streams (MOS) announced that the Mexican casino and sports book business (MCSB) in which it has invested, has signed a commercial partnership agreement with Bitso to provide banking services for the MCSB. This banking partnership with Bitso, the financial services company powered by crypto in Latin America is another significant step in the progression of the MCSB.
Comment: Today’s announcement should be more than enough for MOS shares to finesse their stellar run, as well as underline the way that the bull run was built on the company’s lack of need for a fundraise.
Mendell Helium (AQSE:MDH) announced that M3 Helium Corp. has signed an exclusive farm-in and fixed price helium agreement with Scout Energy Partners over 161,280 acres of the Hugoton gas field, one of the largest natural gas fields in North America.
Comment: Given how hot helium is at the moment, today’s announcement from MDH is just what the doctor ordered. That it is involved in a project of scale is the icing on the cake.
EDX Medical Group (AQSE:EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, has signed an exclusive distribution agreement with mir|detect GmbH to distribute its M371 testicular cancer diagnostic test in the UK and Nordic markets. The M371-Test is a simple blood test that enables highly accurate detection of critical biomarkers of testicular cancer in its early stages, the most common form of cancer among young men.
Comment: At last we have the kind of RNS that EDX holders have been looking for, in terms of a rollout of its diagnostics products, rather than a fundraise. Hopefully, this is the first of many.
Alkemy Capital Investments (ALK:LSE) announced that its Chairman Paul Atherley has purchased a total of 86,845 ordinary shares in the Company at an average price of £0.82 per share. Following these share purchases, Paul Atherley holds 3,400,559 ordinary shares in the Company, representing 38.58% of the Company’s issued share capital.
Comment: Shares of ALK have already doubled over the past month, and Mr Atherley stepping up to the plate in terms of buying more shares gives the impression that the money the company has been looking for is just around the corner.
Marks and Spencer Group (MKS) announced its Half Year Results for the 26 Weeks Ended 28 September 2024. Profit before tax and adjusting items up 17.2% at £407.8m (2023/24: £348.1m). Statutory profit before tax of £391.9m (2023/24: £325.6m). Food sales up 8.1%; adjusted operating profit £213.1m (2023/24: £158.4m) and margin of 5.1%.
Comment: One could ask the question in the wake of such an excellent performance, how does MKS do it? Such a well rounded performance in the current trading environment can only really point to first class management.
J D Wetherspoon (JDW) published its scheduled trading update announcement for the 14 weeks to 3 November 2024, comprising quarter one (Q1) and a further week. Like-for-like (LFL) sales in the first 14 weeks of the financial year were 5.9% higher than the same period last year. Bar sales increased by 5.7%, food by 5.7% and slot/fruit machines by 13.5%. Hotel room sales decreased by 2.0%.
Comment: Rather like M&S, the latest metrics from JDW are all the more impressive given the economic backdrop, and the state of the consumer. For the shares to be near one year lows seems a little harsh, even for a company so closely linked to the Brexit cause and that kind of politics.
KEFI (KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield since 2008, updated regarding the Company’s high-grade Tulu Kapi Gold Project, focusing in particular on the Tulu Kapi project financing. Banks increase proposed loan facilities from US$190 million to US$240 million. KEFI said Tulu Kapi’s high grades and high recoveries offer the potential to repay all project finance debt from the estimated net cash flows of the first full year of production, at US$2,600/oz gold price. Moreover, at US$2,100/oz to 2,600/oz gold, Project NPV to KEFI shareholders is 6.9 to 10.5 pence per share, 12-17 times the current share price, ignoring our other assets.
Comment: KEFI remains one of the finest jam tomorrow companies in London, and with the extra $50m today, there is the possibility of more jam than ever.
East Star Resources (EST), which is exploring for copper in Kazakhstan, announced the commencement of the next phase of drilling at the Verkhuba copper deposit in the East Region of Kazakhstan. EST said it was very happy to be drilling again at the Verkhuba copper deposit. Preparations for drilling began several months ago, including building heated sea containers to allow logging, cutting and sample preparation by the East Star geological team during winter.
Comment: Verkhuba remains the current flagship asset of EST, and one would assume that further drilling here will move the dial of the share price, which despite the odd interview here and there, is ridiculously low for where the company is.
hVIVO (HVO) announced that Octopus Investments has raised its stake in the company from 11.3% to 12.32%.
Comment: Octopus serves up its regular ongoing stakebuilding in HVO, a company that continues to prove it is one of the best, scalable growth companies on the London market.
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