CleanTech Lithium (CTL), an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition, provided a progress update on Direct Lithium Extraction (DLE) with the final components for the DLE Pilot Plant arriving and being installed in Copiapó, Chile. The company said the next six months is going to be a busy period for CTL, with the combination of the PFS and the analysis of results from the DLE Pilot Plant making this an exciting period in the Company’s journey.
Comment: CTL is one of the many stocks where all the recent progress and positive progress to be delivered in the near term has been discounted. The market seems to have forgotten the urgent need for clean lithium, and CTL’s prime position in being able to deliver this.
Union Jack Oil (UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that the Wressle-1 well has been brought back into production following the installation of a downhole jet pump and associated surface facilities to optimise flow-rates. Since production resumed, flow-rates in excess of 950 barrels of oil per day have been recorded. The well is now on continuous 24-hour production and is still cleaning up. Export and sale of oil has recommenced.
Comment: Although one would not be able to tell this by the share price, UJO is serving up a chunky production level, and is literally “cleaning up.”
Oxford BioDynamics, (OBD), a biotechnology company, has appointed Dr Steven Arrivo as Senior Vice President of Business and Corporate Development. Dr Arrivo brings over 20 years of science and industry experience along with an established track record in business and corporate development within personalized medicine across big pharma, biotech and molecular diagnostics companies. The company said having someone of Steve’s calibre in the OBD commercial team is a real endorsement of our technology and its potential. He has a wealth of experience in this industry and the ideal skill set to drive our commercial efforts with PSE. His leadership and knowledge will be invaluable across all areas of our growing product portfolio.
Comment: OBD is one of the elite stocks who made the big time in terms of market appreciation and share price rise. To manage this is one of the most unloved spaces, biotech, is even more of an achievement.
Critical Metals (CRTM), a mining company, announced that it has worked with the local community to successfully open Molulu’s first Primary School – the E.P Molulu School, providing children aged between 5 and 13 years’ old with access to education. The company said it believes that investing in education is not only a social responsibility but a foundation for sustainable progress. Its commitment to opening Molulu’s first Primary School underscores its dedication to working collaboratively with the communities around us, as it strives to empower communities through quality education.
Comment: There is of course nothing better than education, especially in the geography that CRTM operates in. Hopefully, the company will be able to expand the latest initiative in time.
Genflow Biosciences (GENF) a biotechnology company developing gene therapies designed to target the aging process and to reduce and delay the incidence of age-related diseases. announced that it has appointed Capital Plus Partners Ltd to act as Joint Broker, alongside Clear Capital Markets, with immediate effect.
Comment: We see new kid on the block broker Capital Plus get a new client, with Genflow beefing up its already strong representative in Clear Capital.
Ananda Developments (AQSE: ANA), a company whose ambition is to be a leading provider of cannabinoid-based medicines for the treatment of chronic, complex inflammatory pain conditions, announced that its wholly owned subsidiary MRX Medical Limited (MRX) has filed a fifth patent application with the UK Government’s Intellectual Property Office. The company said that building Ananda’s intellectual property with the application for a fifth patent covering an oil formulation containing THC as well as CBD. It is hopeful this oil will be used in randomised controlled trials and look forward to bringing shareholders an update on this as soon as possible.
Comment: For any company forging progress in a novel area the goal is to achieve a land grab as far as IP is concerned, and with today’s announcement we see this is precisely what Ananda is doing. All of this adds to create significant value creation for shareholders.
i3 Energy (I3E), an independent oil and gas company with assets and operations in the UK and Canada, announces a Q3 2023 operational and financial update. Average Q3 2023 production of approximately 21,156 barrels of oil equivalent per day, representing a 14% increase over the prior quarter and a 3% increase from Q3 2022. The company said that following the major scheduled maintenance activities and disruptions due to wildfires in Q2 it was very pleased with the recovery of production levels in Q3, and it remains on track to meet its previously stated guidance for 2023 production and net operating income. It will also shortly commence a three well drilling programme, focussed on oil development in Central Alberta.
Comment: While the merits of raising production and being on track to meet stated guidance for 2023 is not reflected in the i3 share price, the company has clearly been getting on with the job, especially with the fresh initiative in Central Alberta.
Rainbow Rare Earths (RBW) announced that it has entered into an option agreement with TechMet, whereby TechMet has the right to invest $50 million to fund a substantial part of the equity component required for the project financing for Rainbow’s Phalaborwa project in South Africa. The company said it was delighted with the confidence shown by its long-term strategic investor, TechMet, following their due diligence on Phalaborwa. It believes that the TechMet Option is a significant de-risking for the financing requirements. This validates the Company’s focus on the development of rare earths from secondary sources, as well as supporting the Company’s belief that Phalaborwa is a strong and unique project. It expect Phalaborwa to continue to attract funding, especially from US-sources of capital, due to the focus on the critical role of these rare earth metals in the technology-driven industrial and clean energy age.
Comment: RBW continues to be one of the most outstanding mining project companies on the market, boosted by China’s new commodities embargo stance, and by the rest of the world set to wean itself off dependency on our authoritarian friends especially with regard to rare earths.
More Acquisitions (TMOR) said that further to the announcement regarding the Requisitioned General Meeting released on 3 November 2023, the Company has received irrevocable undertakings from shareholders representing approximately 51.45 per cent of the current issued share capital of the Company, to vote AGAINST all the resolutions proposed by the Requisitioner. The Requisitioned General Meeting for shareholders is to be held at 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW at 10:30 a.m. (GMT) on 1 December 2023.
Comment: The bun fight at TMOR continues. Historically such situations are a result of fractured egos, and fallen share prices. Be there on 1 December or be square, this looks as tight as the Brexit vote.
eEnergy (EAAS), the Net Zero energy services provider, announced it has signed a strategic investment agreement with long standing partner, Luceco plc, pursuant to which Luceco will invest £1,753,900 via a subscription for new ordinary shares in eEnergy. EAAS said it was delighted to welcome Luceco as a new shareholder to the Group. The strategic investment cements its already longstanding relationship and demonstrates its combined confidence in the growth opportunities for its markets.
Comment: Hands up all those who knew that Luceco was a long standing partner of eEnergy. I didn’t think so. Given that EAAS shares are near the low end of the range, and Net Zero remains hot property, the investment looks to be a win-win for both parties.