Georgina Energy (GEX) said it is aware of a number of recent blog and social media posts that contain a number of false and misleading statements made by uninformed third parties. The Company views that the making of such false and misleading statements is damaging to both investors and the market, and constitutes market abuse under the UK Market Abuse Regulation. Georgina is in the process of reporting such statements to the Financial Conduct Authority.
Comment: Enough is enough in terms of small cap companies being blighted by unaccountable bad actors, who under the guise of journalism /morality (?) make statements not in the interests of investors or the stock market, but purely for clickbait and shorting, for the purposes of financial gain. 20th century style tabloid journalism using exaggeration, omission, distortion, and personal attacks have no place in the 2020’s. Even worse, it would appear that the powers that be, who have overseen AIM losing more than half its listings in recent years, seem surprisingly casual as to the effects that such wilfully uniformed third parties have. This is especially the case given the way that small cap companies by their nature do not have the time nor the money to seek redress, especially from those who have ensured beforehand they are almost impossible to seek redress from. Funny how the mudslinging is only generally focused on companies with a market cap of £20m or less, who cannot fight back.
Vinanz (AQSE: BTC), the publicly listed Bitcoin mining company, announced that it has ordered the first non-Bitmain Antminer Bitcoin miners for its North American fleet in a move to diversify its bitcoin miner manufactures as the Company continues with its growth plans.
Comment: Given the big jump in Bitcoin over the past 48 hours, it is showtime as far as how much small caps with exposure to crypto such as Vinanz are leveraged to the latest rally towards all time highs.
Audioboom (BOOM), the global podcast company, announced that Michael Tobin OBE, non-executive Chairman of the Company, purchased 5,000 ordinary shares in the Company on 29 October 2024 at a price of 190 pence per ordinary share. Following this purchase, Michael Tobin holds 865,000 ordinary shares in the Company, representing approximately 5.3 per cent. of the Company’s issued share capital.
Comment: Given the recent relationship between director share buying and the BOOM share price, one might venture to suggest that the stock will only end its horrific bear run, when the director buying stops. One should also note that the “permanent” seller at 250p is very much in place, with no one apparently able to do anything about them.
Ananda Developments (AQSE:ANA) presented its consolidated interim results for the period from 1 February 2024 to 31 July 2024. ANA said that earlier this month its patent-pending MRX2 and MRX2T CBD and CBD + tetrahydrocannabinol (THC) formulations have been selected as the active pharmaceutical ingredients in two funded Phase III randomised controlled trials. In these trials, which are funded by NIHR and NHS England, researchers will study whether MRX2 & MRX2T are safe and effective in reducing the number and severity of seizures experienced by people with epilepsy, as well as their effects on learning, sleep, behaviour, quality of life, stress, and anxiety.
Comment: It has been a transformational year to date for ANA, with the highlights being the NHS validation, the formation of an Advisory Board, and the capitalisation of the company’s unsecured debt by the management. This leaves ANA in a strong position to benefit from its flagship MRX family of assets.
OptiBiotix Health (OPTI) the life sciences business, advised that in relation to the requisitioned general meeting of ProBiotix Heath (AQSE:PBX) Peterhouse Capital has refused a request for consent from OptiBiotix to vote its shares at the Requisitioned General Meeting. OPT said whilst it cannot vote given it is now subject to a Court order not to vote our shares, Stephen O’Hara, Neil Davidson and Sean Christie intend to vote in favour of the resolutions in respect of their aggregate holding of 6,479,783 ordinary shares in the capital of PBX representing 4.10% of the voting rights of PBX. For all the reasons given above, it accordingly urges all PBX shareholders to vote in favour of the resolutions to prevent further erosion of shareholder value.
Comment: Given that Peterhouse cannot vote due to a Court order, it is perhaps surprising that it is delivering its penny’s worth on OPTI / PBX. As things stand it is OPTI which having spun out its golden goose is now looking at its share price being down 57% on the year to date. This rather gives the impression of a company clutching at straw to revive itself and looking for a distraction in blaming others for its fate. We shall finally know who is right in tomorrow vote.
Helix Exploration (HEX), the helium exploration and development company focused on helium deposits within the ‘Montana Helium Fairway’, announced the commencement of drilling at the Rudyard project area in Montana. HEX said it will keep investors updated as drilling progresses via RNS, including updates on any significant helium gas shows in drilling mud, wireline results, initial flow test gas composition and extended well test results.
Bezant Resources (BZT) provided shareholders with an update following the technical review of the PCB gold project in Zambia. A collaboration agreement signed with PCB Mining Limited in relation to a recently active gold operation in Zambia required a technical assessment of exploration potential, grade control, mining operations and mineral processing by Bezant. BZT said this initial assessment was necessary to establish the basis for its ongoing collaboration agreement with PCB Mining and has created a firm foundation for these discussions. The parties have agreed to advance discussions completing the necessary terms of the original collaboration agreement before year end.
Hemogenyx Pharmaceuticals (HEMO), a biopharmaceutical company, announced the schedule for the opening of the first clinical site for its lead asset, HEMO-CAR-T, formally designated HG-CT-1, targeting relapsed/refractory (R/R) acute myeloid leukemia (AML) in adults. HEMO said that launching this Phase I clinical trial for HG-CT-1 will mark a critical step forward in its mission to develop transformative therapies for patients battling relapsed and refractory acute myeloid leukemia.
Comment: It would appear that we are in another HEMO cycle of a series of positive sounding RNS’s followed by the inevitable fundraise. One hopes that this is not the case this time, given how many fundraises there have been. Presumably, the shares are currently too low in the range for a placing.
MicroSalt (SALT), a provider of full-flavour natural salt with approximately 50% less sodium, announced it has received several new bulk purchase orders including from a new B2B customer. SALT said it was very excited to have received a significant new initial order for MicroSalt to replace traditional salt in a major product line, adding to product lines previously launched with a globally recognised customer. It is also looking forward to the addition of Microsalt to other well-known product lines for this customer. Its progress within the spice and ingredient community as well as the successful efforts put forth at the SIAL event in Paris last week, is evidence that the hard work put in by the Microsalt team is bearing fruit globally.
Comment: So the cooling RNS of October 18 was a false flag. It could either have been a Nomad / stock exchange rules initiative to head off a leak on today’s news, or the typical London stock market attitude of going into shock when shares actually go up. Either way, the technical were pointing up here 12 days ago, with the 200 day moving average at 75p in focus then, as now.
Sovereign Metals (SVML) provided its quarterly report for the period ended 30 September 2024. SVML said that following increased U.S. investor and strategic interest in Kasiya, Sovereign commenced trading on OTCQX Market in the quarter providing access to broader eligible U.S. investor base. Following the additional A$19 million invested by Rio Tinto, it remains in a strong financial position with cash at bank of approximately A$41 million and no debt.
Comment: Also shares of SVML have improved in recent weeks, the market still needs to embrace the Rio factor and the no debt situation fully. This is over and above the progress at, and mineral resource upgrade Kasiya has enjoyed of late. At least 50p a share by the end of the year is what SVML more than deserves.
Aston Martin (AML) announced its third quarter results for the nine months ended 30 September 2024. AML revealed an improved Q3 2024 performance in line with revised expectations; on track to deliver revised FY 2024 guidance, as supply chain disruptions are proactively managed. AML said the adjusted loss before tax of £198m (YTD 2023: £221m loss), reflects the improved adjusted EBIT and lower adjusted net finance costs.
Comment: Things are still looking a tad lean for AML, so many years after its much touted £5bn market cap IPO. It is interesting that the new CEO Adrian Hallmark exudes such enthusiasm, despite being involved in one of the more poisonous chalices in the world of business.
Next (NXT) revealed a trading statement. Full price sales in the third quarter (August – October) were up +7.6% versus last year. This was +2.6% ahead of our guidance for the quarter of +5.0%. NXT said it believed the strong performance was driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year. It is increasing guidance for Q4 full price sales growth by +1.0%, to +3.5%.
Comment: One of the great mysteries of life remains, “who buys stuff at Next?” Despite this, and despite the cost of living crisis et al, the company has managed to increase guidance.
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