Vinanz (AQSE: BTC), the publicly listed Bitcoin mining company with US and Canadian Bitcoin mining operations, announces that it has just increased its bitcoin miner fleet in Nebraska with the addition of the most efficient Bitcoin miners yet for its North American fleet with the purchase of five Bitmain Antminer S21 Pro 234 Terahash (TH/s) machines.
Comment: If nothing else, Vinanz shares have been remarkably steady in the recent past, even absorbing the latest placing. While it remains to be seen whether the company can successfully scale up, at the moment the market does not appear to be concerned.
Cornish Metals (CUSN), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, announced that it has appointed Endeavour Financial as financial adviser to secure project financing for the construction of South Crofty. CUSN said it will assess various sources of funding and it believes that the timely appointment of an experienced financial adviser like Endeavour will help guide the project financing process to a successful conclusion in H2-2025.
Comment: The market has been brilliantly patient with CUSN, and it has had to be. At least with today’s announcement we can see the light at the end of the tunnel, as far as the waiting game is concerned: H2 2025.
ProBiotix Health (AQSE: PBX), the life sciences business, announced a new commercial partnership with Mexico based raw materials and ingredients specialist Raff. PBX said the cardiovascular drug market in Mexico is estimated to be worth $2.2 billion this year, and provides a huge latent opportunity. With an ageing population, it believes Mexico provides a highly attractive market for ProBiotix to target.
Comment: It would appear that PBX is enjoying something of a purple patch, which is in contrast to the ongoing malaise at its main shareholder, Optibiotix (OPTI) which is presumably still kicking itself for spinning it off.
Artemis (ARV) announced ground reconnaissance at the Titan prospect in the West Pilbara region of Western Australia continues to deliver high grade gold and silver from assays, highlighting the emergence of a broad mineralised area over the prospect. ARV said these results, together with the previously reported gold, silver and copper results, point to the Carlow tenement being a highly prospective region with the potential for a larger scale gold system.
Comment: Given the plethora of sub scale underfunded explorers, it is perhaps rather unfair that ARV has not received the stock market love it perhaps deserves. But is does appear in the wake of announcements such as today that the company is a cut above most of its ground scratching peers.
Avacta Group (AVCT), a life sciences company, announced that the Company will present new preclinical data on two breakthroughs in the pre|CISION™ platform in poster sessions at the 2024 EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Barcelona, Spain from 23-25 October 2024.
Comment: It is of course disappointing to see AVCT shares in the lower half of the range. That said the “blinding with science” RNS is perhaps not that helpful, something that would have even Charles Darwin scratching his head. although presumably Barcelona is lovely at this time of year.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations, provided an update on operations on the State 36-2R LNW-CC well at the Company’s flagship project in the Paradox Basin, Utah, U.S. ZPHR said it looks forward to closing the funding for the extended lateral in the coming weeks, after which it will launch a process to secure a rig contract and additional equipment. It expects to commence the next phase of operations at site in late 2024 or early 2025.
Comment: Interesting that just a while back ZPHR denied any fundraise requirement, but is now talking funding for extended lateral, presumably via debt not an equity raise. Maybe the rather suspicious funding leaking by the bears was not so far off the mark, or crossed wires. But as nothing happens to bears who leak stories to get share prices down, it does not really matter anyway.
Nativo Resources (NTVO), which has interests in precious metals mining and production in Peru, announced that it has conditionally raised £412,000 at a price of 0.0025p. The cash plus another possible £100k will be used to progress production at the Tesoro Gold Mine through its 50%-owned Peruivan joint venture, Boku Resources SAC, through extension of the existing Bonanza shaft and development La Dorada, a second shaft. Support design and planning work associated with the development of a gold processing plant. The provision of working capital until Q2 2025.
Comment: One might have wondered if NTVO the old Echo Energy had any scope for raising any more cash given the miniscule share price, but it has managed it. The worry is that this money may not take the company that far along its milestone.
OptiBiotix Health (OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces further positive study results. OPTI said it noted the recent positive trading update from ProBiotix Health. As the largest shareholder of ProBiotix Health, it was pleased to see their strong sales figures and balance sheet. In its interim results released in September, it also reported a significantly increased order book and solid sales performance for the first half of the year, and the strong strategic and commercial progress it achieved in this period has continued in the second half to date. It was confident that its strategy will deliver an improved sales performance for the rest of this year, and will continue in 2025, and looks forward to demonstrating the long-term growth potential of the Group.
Comment: Given that the financial wheels are falling off the wagon, as is the share price, it is interesting that OPTI is being so nice about its somewhat estranged, and far more successful offshoot, Probiotix. One wonders OPTI will bite the bullet and raise some much needed cash, “commercial progress” notwithstanding.
Tirupati Graphite (TGR), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, announced an update in continuation to its previous RNS dated 13 August 2024, progress in relation to financing arrangements and on matters related to publishing its audited financial results for the period ending on 31 March 2024. The Company and its advisors have continued to make progress towards securing finance for both current working capital needs, and longer-term growth finance. Companies House has granted the Company an extension to 31 December 2024 for submission and publication of the audited annual report and financial statements.
Comment: A welcome update, but of course shareholders here are still sitting on the edge of their seats waiting on the denouement regarding funding. It is encouraging that some production / sales continue.
Building on the groundbreaking advancements in machine learning recognised by [2024] Nobel Prize in Physics awarded on 8 October 2024, GenIP (GNIP) a GenAI-powered analytic services provider, said it was well positioned to potentially transform the way research organisations have historically assessed and commercialised their discoveries. The Nobel laureates’ work on using physics to find patterns in information has laid the foundation for the development of artificial neural networks, a cornerstone of machine learning. GenIP’s GenAI platform leverages these sorts of advancements to provide a suite of powerful AI-powered services.
Comment: So far getting on the AI bandwagon has resulted in shares of GNIP falling from 39p at the IPO, to 25p just now in short order. Perhaps releasing a Big Bang Theory friendly RNS may not be enough to turn the shares around just yet.
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