Arrow Exploration (AXL) revealed a TR-1. In this case it was Canacol Energy Ltd in on the shareholder at 21.19%.
Comment: It would appear that Canacol Energy are looking forward to the clearance of the presky warrants which have artificially subdued the share price of AXL, despite the company’s stellar fundamental performance.
Tirupati Graphite (TGR), the specialist flake graphite company and supplier of the critical mineral for the global energy transition, provided an update on its flake graphite operations and further outlook as it evolves as a globally significant flake graphite producer: H1 FY 2024 performance significantly ahead of the same period in the prior year with production up 160% and revenues up 170%, prior to significant further productivity improvements expected in Q3. The company said it was confident that its efforts will be recognised by the markets as it continues its progress, and the boost in graphite demand expected to result in a significant supply deficit in the near term will be an eye opener for increased investment interest in this critical mineral.
Comment: What is apparent at TGR is that the stock market really has not appreciated the company’s efforts, but it could be that the triple digit production and revenue rise may focus some minds in a positive way. This is particularly so given current modest share price levels.
Symphony Environmental Technologies (SYM) cashed up yesterday afternoon with a further £1m 7% Convertible Loan Note (CLN) issued to Sea Peal Ventures its 17.8% shareholder. The terms are the same as the previous £1m CLN so can be converted on or before the 30 September 2024, at 80% of the volume-weighted average share price for the 3 months prior. We reported on the interims on 29th September and the CFO, Ian Bristow was interviewed on 3/10/23. In essence the interims numbers were inconclusive, but the company are confident of an acceleration in the roll-out of different product applications as trials conclude, in several substantial markets including South Africa, South Korea, Yemen, and Symphony India. In India there is a joint venture, with the giant Indorama India where new regulations are the trigger for expanded demand. Generally, regulators and companies increasingly understand the benefits of SYM’s low cost, immediate use, and non-disruptive solutions which when added to ordinary plastic products results in decomposing and so removing plastic litter and microplastics from the environment. There is a pressing need to reduce plastic waste and SYM have geared-up for a sales surge.
Comment: Simply put, 338 days have been brought for the pipeline to be converted before the loan conversion. The shares at 4.75p gives an £8.8m Mkt Cap, which does seem to reflect this opportunity.
Tekcapital (TEK) the UK intellectual property investment group, announced that Longs Drugs a leading drug store chain in Hawaii has committed to place MicroSalt’s SaltMe! Crisps in their stores. Microsalt it was very excited about the placement of its SaltMe Low Sodium Crisps with the Longs Drug Chain. Excess sodium consumption is one of the leading contributors to hypertension and heart disease. Placements like this are the best way to provide consumers with great tasting, healthy products with less sodium.
Comment: Although Longs Drugs may not be a global name, every little helps with the roll out of SaltMe.
Pantheon Resources (PANR), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects, provided the following update: The re-entry of the Alkaid-2 well and flow test of the Shelf Margin Deltaic B horizon is now complete at the end of the programme to frac, clean up and flow the well. Testing operations have been successful at demonstrating producible oil from the SMD horizon in the Aphun field, which is comprised of both the shallower SMD formation and the previously tested deeper Alkaid ZOI. The company said this re-entry operation has provided validation of its development plans for Ahpun and, in due course, Kodiak, by proving the efficiency achieved with our next iteration of the optimum frac design.
Comment: Now that the stock market has finally swallowed that PANR is sitting on 1 billion barrels, RNS’s become something of a lap of honour, especially with the oil price rise of the recent past.
Vast Resources (VAST), the AIM-listed mining company, announced an update on its activities in Tajikistan. The company said it was delighted at the progress it has made in Tajikistan, both in terms of the work carried out by its team on the ground who have worked tirelessly to ensure that all the logistics are in place in preparation of its first shipment to Trafigura, as well as the MOU with Central Asia Minerals and Resources.
Comment: Any VAST RNS without a fund raise is clearly a happy event. One hopes that the company’s campaign in Tajikistan runs more smoothly that some of its other geographies.
Eco Buildings Group (ECOB), announced its unaudited interim results for the six months ended 30 June 2023. As a result of the publication of the Interim Results, the Company’s ordinary shares will resume trading on the AIM Market of the London Stock Exchange with effect from 7.30 am on 3 October 2023. On 28 April 2023, the Company entered into a deed of assignment with Fox Marble SPV, a wholly owned subsidiary of the Company pursuant to which the net proceeds arising from the Kosovo Dispute will be paid to Fox Marble SPV. The deed of assignment also includes an indemnity from Fox Marble SPV to the Company for all costs and liabilities that may arise in respect of the Kosovo Dispute.
Comment: The return of a new manifestation of Fox Marble, and the possible slam dunk multi-million pounds win against the Kosovo government. Let the fun begin.
Gusbourne (GUS), the English wine producer, reported its 2023 harvest is now complete. The 2023 harvest is now complete with our biggest yield to date. The company said following its normal green harvest earlier in the year, an abundance of selected high quality fruit was harvested under sunny skies and earlier than in typical years, before the wet weather arrived. The company said its winemaking team, are delighted with the potential for an amazing 2023 vintage. The resulting wines will be bottled during 2024, further adding to our inventory levels for sale in future years.
Comment: It would appear that a record breaking June, rubbish weather in July and August, and an Indian summer, were just the climate change induced ticket for an excellent harvest. One looks forward to a few free samples, if only for compliance and audit purposes.
Technology Minerals (TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announced that its 48.25% owned battery recycling business, Recyclus Group Ltd, has received final clearance from the Environment Agency for the variation licence to commence full automated operations at its lead acid battery recycling plant in Tipton, West Midlands. The company said it was delighted to announce that Recyclus has received final approval from the Environment Agency to initiate full automated operations at its lead acid recycling facility in Tipton. This is a significant milestone for Recyclus and represents the first of five lead acid battery recycling facilities the company aims to establish in the UK.
Comment: Even though it would appear that there are fewer stages to get to Nirvana than getting a recycling facility started, TM1 looks like it is near to the finish line?