Upland Resources (UPL) announced it has now signed a specific Letter of Intent (LOI) for the provision of well planning and drilling services in 2024 with an established and proven upstream partner, NRG Group. UPL said this is a critical step forward in the process. In addition, it is now in the final stages of rig identification for Block SK334, onshore Sarawak.
Comment: After nearly a couple of months of consolidation either side of 2p fans of UPL may be chomping at the bit in anticipation of a new leg to the upside. The latest RNS from UPL should be enough of a tease to deliver a fresh re-rate for the stock.
Guild Esports (GILD), a global gaming-focused media business, announced the signing of three top-ranked professional players, ‘Blacha’, ‘Chico’ and ‘PabloWingu’ to its professional Fortnite roster. GILD said its Fortnite team is an important jewel in its crown, Blacha, Chico and PabloWingu are some of the most promising players in professional Fortnite, and it is a testament to the quality of its coaching and facilities that they have chosen Guild as the location to take their professional careers to the next level.
Comment: It would be interesting to know how much our friends Blacha, Chica and PabloWingu are getting paid to join the Guild Fortnite roster. We wish them well in their professional careers, with or without a signing fee.
TruSpine Technologies (AQSE: TSP) the medical device company focused on the development of its pioneering “screwless,” spinal (vertebral) stabilisation systems announces that, further to the announcement on 3 October 2023, the Company has submitted additional documentation and provided further clarification in regard to the questions raised by the U.S. FDA relating to the Company’s FDA 510(k) application. TSP said it was pleased the US FDA have responded promptly regarding its 510(k) application for Cervi-LOK. The Board believes the information provided should assist the FDA and help them to complete their technical review.
Comment: For a humble stock on the Aquis market to be interacting with the FDA in any way is quite a result. Getting Cervi-LOK over the line would be quite a coup.
Andrada Mining (ATM), an African technology metals mining company, confirmed the commencement of an initial exploration programme for the Brandberg West exploration licence. ATM said the historical figures show that EPL5445 has the potential to double the current volume of tin concentrate produced at Uis and add Tungsten to the expanding list of metals produced by Andrada. The Erongo region continues to prove itself to be an untapped technology metals province, and it is excited to be commencing work on what we believe will be another world class technology metals asset. Brandberg West will solidify Andrada’s tech-metals portfolio by potentially adding critical metals revenue streams of tungsten, and copper as a by-product.
Comment: ATM continues to consolidate its portfolio with the news of additional critical metals revenue potential. All that is left now is for the market to appreciate the strength of the offering here via a share price on the right side of 10p.
Wishbone Gold (WSBN), announced that the Reverse Circulation drilling program at its Red Setter project has been completed, with samples now en route to Intertek’s laboratories, with assay results expected in the next 4-6 weeks. The company said it was pleased that the latest drill program at Red Setter has been finished without event and looks forward to the assay results providing further understanding of the hydrothermal system and the structure of the mineralisation. It is excited to start the diamond drilling campaign at Cottesloe which it anticipates will prove up a large base metal system.
Comment: Shares of WSBN, albeit near the lower levels. Bulls of the stock will be looking for the drill results later in the quarter to deliver a decent turnaround for the stock.
Oncimmune Holding (ONC) today’s strategic update from the new executive team reiterates the new direction of service provision rather than IP creation. The team are confident of being able to accelerate new commercial contracts through partnership so widening the customer base for the services. Its portfolio of patented human immune system technologies was sold for £13m in May 2023, and after paying off debt around £6.7m remained. The new CEO, Martin Gouldstone, will be commercializing Onc’s ImmunoINSIGHTS platform. This provides services enabling life science organisations to optimise drug development and delivery, leading to more effectively targeted and safer treatments for patients.
Comment: At 15.75p and a £11.7m mkt cap there seems a chance for advancement.
Intercede (IGP) the CEO and FD brought 85,000 shares yesterday afternoon at 49p and the share increase 52.5p and a £30m mkt Cap. The £42,000 purchase was the day after this high-end Cybersecurity software specialist’s relatively uninspired Interim Trading update. For 6months to September Revenue increased 15% to £7m and noteworthy was that there is no debt and cash reserves of £9.7m. Finals to March 2023 included an acquisition with the Profit Before Tax (PBT) improving 100% to £0.6m for an 83% increase in EPS to 2.2p and an historic P/E of 24x. Its User Credentials software specialises in digital identities from passwords to PKI (Public Key Infrastructure). Protecting access to systems and data for Governments, police, military, and large organisation.
Comment: Before the directors dealing the shares seemed about right … but maybe one is missing something there?
Chill Brands Group (CHLL), the consumer packaged-goods distribution company, announced that its Chill ZERO nicotine-free vapour products will launch on Amazon.co.uk this month. CHLL said with this launch on Amazon, it has opened another major sales channel for Chill ZERO nicotine-free vape products. From here it looks forward to increasing its market share through the use of the platform and intend to make this the first of many countries where its products are available on Amazon.
Comment: Now that CHLL Is on Amazon and WH Smith with top flight distribution, the stock market will no doubt be licking its lips at the prospect of a tsunami of sales for the nicotine-free vape products.
Kendrick Resources (KEN), a mineral exploration and development company with vanadium, nickel and copper projects in Scandinavia provided an operational update for its Airijoki Project in Vittangi, Sweden. KEN said the successful completion of the latest drill programme is an important step as it builds a substantial vanadium resource based on the Airijoki Project. It has now drill tested two of the seven licences that comprise the project area and these untested licences have been covered by historic and recent soil geochemistry and geophysics showing similar characteristics to that which has so far led to fresh vanadium discoveries. It is its intention to continue to build a substantial vanadium resource.
Comment: Although to date the stock market has not been inspired in terms of KEN and its share price, it can be seen that the company continues to progress well on an operational basis.