BSF Enterprise (BSFA), the parent to a portfolio of innovative subsidiary companies developing cell-based tissue engineering solutions to deliver sustainable outcomes across a variety of sectors, provided a portfolio update. BSFA said it was making strong progress, focusing its activities on several near-term commercial opportunities across a range of disciplines within our business. This has led to discussions of increasing quality with a growing number of potential customers. It is confident these discussions will develop further into the coming year and look forward to sharing its progress in this respect in future updates.
Comment: BSFA was at least temporarily a stock market darling. But matters took long, and perhaps a few wrong turns were made. While still possible, (lab grown) rabbits will have to be pulled out of the hat.
CyanConnode (CYAN), a company involved in narrowband radio frequency (RF) mesh networks, announces its unaudited interim results for the six months ended 30 September 2024 (H1 FY 2025). The Indian smart metering market continues to gain momentum, with sanctioned tenders exceeding 200 million smart meters. Of this total, contracts for approximately 132 million smart meters have already been awarded to prime bidders, underscoring the Government of India’s commitment to install 250 million smart prepayment meters under the Revamped Distribution Sector Scheme (RDSS).
Comment: It is perhaps disappointing that even though the company is apparently performing well in its niche, the operating loss remains flat. One wonders how much more momentum is required to get the company into the black. Perhaps recent Middle East and North American orders will do the trick.
Synergia Energy (SYN) announce an update on operations being conducted on its Cambay PSC (WI: 50%) in India. SYN said as previously announced, the Company has completed its farm out of a 50% working interest in its Cambay PSC in India to Selan Exploration Limited. Selan have now commenced the agreed $20 million work program on the Cambay Field PSC, for which Synergia is to be carried by Selan. A suitable (30 MT) workover rig has been contracted together with a wireline unit and other key equipment items for the planned first two well workover operations. Slickline operations commenced on November 6, to be followed by circulation, activation, and periodic liquid level surveys.
Comment: It would appear that whatever trajectory SYN is on currently, it is rather slower than the market would like, and whatever destination is being sought is more difficult to attain than Nirvana. Things ordinarily should not be as difficult / tortuous.
Avation (AVAP), the commercial passenger aircraft leasing company, is pleased to announce the signing of a twelve-year lease agreement with Japanese airline JCAS Airways for a new ATR 72-600 aircraft. AVAP said it was pleased to confirm the addition of JCAS Airways to its customer list and congratulate them on their decision to select the ATR 72-600 to expand regional air travel throughout Japan. By choosing the industry-leading low carbon footprint ATR 72 aircraft, we are investing in sustainable aviation and contributing to much needed connectivity in the Japanese archipelago.
Comment: Interestingly enough there was something of a buzz surrounding shares in AVAP a couple of weeks ago. It was presumably not just related to a new lease agreement, however meaningful.
Mila Resources (MILA), the post-discovery exploration accelerator, announced highly encouraging rock chip results from selective sampling across the Company’s newly acquired Monal, Yarrol, and Mt Steadman licences in Queensland, Australia. MILA said these results highlight significant gold and copper mineralisation across multiple targets, highlighting the mineralised potential of Mila’s expanded portfolio.
Comment: Shares of MILA are up a third over the past month, with the positive noise the company has made in the recent past. Almost enough to get a fundraise over the line if need be.
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