Panthera Resources (PAT), updated on the dispute with the Republic of India over the latter’s breaches of its obligations under the 1999 Agreement between the Government of Australia and the Government of the Republic of India on the Promotion and Protection of Investments. The company said it was aware that on 30 September 2023 the Times of India reported that, based on information from the Geological Survey of India and the Additional Chief Secretary of Mines, the gold deposit at the site could be worth over $1 billion.
Comment: A third party expert litigator’s funding on a no win, no fee basis, a $1bn gold deposit, and a current market cap of £9.5m. It does not require Einstein to work out the math here, in what is easily the best of the current coterie of small cap litigation plays.
Neo Energy Metals, the near term, low-cost uranium developer, announced that at 08.00 today its ordinary shares will commence trading on the Main Market for listed securities of the London Stock Exchange plc under the ticker NEO.
Comment: The dearth of IPOs this year, growth company fans will be cheering on Neo Energy Metals. The fact that the company has near surface uranium, one of the hottest commodities around and the involvement billionaire Quinton van der Burgh, is the icing on the cake.
Audioboom (BOOM), the podcast company, announced the continued expansion of its creator network through new exclusive partnerships with top tier podcasts including Matt and Shane’s Secret Podcast, Heart Starts Pounding, Gains and Gossip with Gracie, and The Dating Detectives. The company said expansion of the Audioboom Creator Network has been integral to the growth of the business over the past 5 years. The new audiences this group of shows bring to the network will be part of our success in 2024 and beyond. The best podcasts and most talented creators in the industry understand the value our platform can deliver.
Comment: Heart starts pounding would be an appropriate description for Audioboom shares, if today’s news and the recent recovery for the stock does indeed have legs.
Yesterday Wishbone Gold (WSBN), announced that diamond drilling has started at its Cottesloe tenement. Support trucks and camp have been set up and drilling has commenced. The company said it was excited that the diamond drilling program has commenced at Cottesloe and it is eager to see the assay results. Cottesloe is a great project with a lot of potential given its geological setting.
Comment: We are now reaching the moment of truth for WSBN given that we are in the run up to the company proving up what could be a significant asset in Cottesloe.
Chill Brands (CHLL), the consumer packaged-goods distribution company, announced that its Chill ZERO nicotine-free vapour products will launch on Vape Local (https://vapelocal.co.uk/)) this month. Having first launched these products to the UK market during August, it is now growing at pace. It looks forward to providing further updates as it works with its partners to deliver Chill ZERO products into the widest possible sales network both on and offline.
Comment: With the sales distribution network set up, notably at WH Smith, the market will be looking for news regarding a potential tsunami of sales for Chill’s nicotine-free vapour products.
Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company, announced the appointment of key former executives of Amryt Pharma plc to its leadership team. POLB said it believes that Poolbeg has the potential to deliver the same success as Amryt, which I co-founded in 2015 and IPO’d on AIM in 2016 and which went on to dual list on Nasdaq in 2020 before its sale in 2023 to Chiesi Farmaceutici S.P.A. for US$1.48 billion. When it established Poolbeg Pharma it always had the ambition of creating a substantial biopharmaceutical company and over the last two and a half years it has made great progress in building an innovative and attractive pipeline.
Comment: Real estate is said to be location, location, location. For growth companies, it is management, management, management. On such a read across the arrival of former Amryt / $1.5bn management to POLB is certainly a very positive development.
Fusion Antibodies (FAB), specialists in pre-clinical antibody discovery, engineering and supply for both therapeutic drug and diagnostic applications, provides an update on the Company’s R&D programme and trading in the six months ended 30 September 2023. FAB said it still anticipates that revenues for FY2024 will be significantly weighted towards the second half of the financial year. The moderately lower-than-expected performance in H1 FY2024 has been offset by stringent cost controls and, combined with the developing pipeline for H2 FY2024, the Board’s estimation of the Group’s cash runway has been maintained.
Comment: With some in the market still keen that FAB is a bargain hunting situation, it is s shame that it is still enduring bumps in the road regarding recovery. More communication regarding the detail and the opportunity here is required.
Guild Esports (GILD), a global teams organisation and lifestyle brand, announced that it has completed a follow-on fundraising, by way of a share placing and subscription of up to 26,000,000 new ordinary shares at a price of £0.005 per share. The placement follows and was at the same price as the Company’s recently announced subscription.
Comment: GILD is a company where perhaps the jury is still out as to whether esports can be successfully monetized on a UK listing and whether Generation X investors can make money out of the recreational pursuits of Millennials and Generation Z. Ideally, the latest share price turnaround and financing is the inflection point.