Lift Global Ventures (AQSE:LFT), an investment company focused on financial media, technology and the energy sector, announced that its investee company, Public Relations and Investor Relations company, Miriad Limited, has been appointed by Imperial Diagnostix Laboratories Limited as its Corporate Communications Agency. IDL is in the run up to a planned IPO in 2024. LFT saidit was delighted to welcome Imperial Diagnostix at such a key point in their journey towards IPO. IDL appreciate that in challenging markets, it is during the time of the fund raise when corporate communications and strategy are most important. Miriad looks forward to welcoming many other companies at similar stages in their development.
Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company, announced that it has received a notice of allowance from the Japanese Patent Office in relation to its Immunomodulator I patent application. POLB said this milestone is a testament to the uniqueness of p38 MAPK inhibition as a potential blockbuster treatment for severe influenza. It is committed to continuing to strengthen the intellectual property protection of its portfolio of assets into new jurisdictions to increase their overall value to potential partners.
Comment: Another day, another RNS, with Poolbeg continuing to remind the market regarding the strength of its IP, something which is currently not factored into the company’s valuation.
Wishbone Gold (WSBN), announced that the drill rig and support trucks operated by Strike Drilling have arrived at its Red Setter project and that drilling is underway on the newly cleared heritage areas. The company said it was pleased to be continuing on from last year’s successful drill program which confirmed a hyperthermal gold/copper system. The analysis done in the meantime has added greatly to its knowledge of the system and provides additional targets on which to focus.
Comment: As mining experts remind us, these days it is all about drilling and proving up assets for mining companies, something which WSBN looks set to do in the wake of the latest news from Red Setter.
QUIZ (Quiz) after yesterday’s profits warning the shares fell 40% to 6p and a mkt cap £7m. Last year to March 2023 the Revenue from this omni-channel (online, stores and concessions) affordable woman’s value fashion brand increased 17% to £91.7m. The PBT skipped up 192% to £2.3m which was better than expectations. The optics of the Q1, of the current year are, however that due to the challenging trading conditions revenue for Q1 had fallen 15% with online particularly hit. Consequently, the board decided to take the ‘prudent’ assumption that this trend could continue…… So, extrapolating forward that would result in a loss of £1.5m for the 12 months to March 2024. The cash position was reported at £3.2m with undrawn facilities of £7m which should sufficient, so that no damaging discounted placing is likely. A £1.3m investment was made to increase its distribution centre efficiencies serving the 62 stores in the UK and 6 in Ireland with concessions in Middle East. Spain and the US. The shares are tightly held with 82% held by Directors and Institutions.
Comment: They could be a cheap as Matalan stocks and perhaps worth wearing by the contrarian investor.
Alien Metals (UFO), a minerals exploration and development company, announced that all results from the recent resource definition core drilling programme at its 90% owned Hancock Iron Ore Project, in the Pilbara Region, Western Australia, have been received. UFO said these significant results continue to showcase the abundant potential it has at its Hancock Project. The results demonstrate high-grade, direct ship ore at substantial intersections which continue to underpin further confidence in the resource. As an outcome of this resource definition drilling, it will in the coming months update the Hancock Project Resources and Reserves.
Comment: It has not exactly been a happy time of late for shareholders of UFO, something which may change in the wake of the latest RNS, which shines a light on Hancock Project. Hopefully, this could be a fundamental and a share price inflection point.
Great Southern Copper (GSCU), mineral exploration company, announced that it has executed a binding Term Sheet for the Monti Lithium Project located in the Salar de Atacama, Chile’s premier lithium producing region. The company said it was very excited by the scale of the opportunity that the Monti Lithium Project presents and to enter the highly competitive lithium exploration space in Chile.
Comment: Great Southern Copper continues to be one of the best small cap mining exploration companies no one has heard about – or talks about. One wonders how this could have happened? At least for those who have been following the story and the share price, this looks to be a very promising situation.
Power Metal Resources (POW), the AIM listed metals exploration and development company, announced a progress update including project expansion through additional staking to cover further helium anomalies and prospective geology at its 100% owned Perch River Uranium Project located within the Athabasca Basin, Saskatchewan, Canada. The company said it is very pleasing to be able to follow up the good news from the Perch River Project announced recently with this significant development. There has been excellent work conducted across its uranium portfolio, and that work is continuing.
Comment: There has certainly been a revamping of POW since Sean Wade arrived on the scene, something that has been added to by the way that uranium has now become hot again as a clean source of energy.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, noted the recent speculation that Dominion Energy Utah, LLC has finalised the completion of its gas supply pipeline from the Northwest Gas Pipeline system to the Green River area, that the pipeline will be operational in the early part of the fourth quarter of 2023, and that the pipeline will also be available to accept natural gas volumes from third-party sources, slightly ahead of original timeframe estimates. ZPHR said it can confirm that it has been informally notified that the pipeline will be operational in the next thirty days and would be available to receive Zephyr volumes in due course when Zephyr’s own infrastructure and wells have been completed and all necessary regulatory approvals and commercial agreements have been completed.
Comment: Zephyr has been in need of some positive news, and today’s RNS may be just what the doctor ordered, especially given the way that the shares are still relatively low in the range.
Shanta Gold (SHG), the East Africa-focused gold producer, announced its unaudited interim financial results for the six months ended 30 June 2023. The Company’s asset portfolio includes New Luika Gold Mine and Singida Gold Mine in Tanzania and West Kenya Project in Kenya. SHG said it had delivered another set of record-breaking results. It continues to reach new heights at New Luika and Singida, with record half year revenues of $88.3 million. This was driven by a 55 per cent increase in gold production as well as the benefits of a diversified portfolio and strong gold price. As a result, EBITDA was up 140 per cent to $33.9m.
Comment: Shanta is showing some of its smaller peers how to do it, given the way that it is ramping up production, and is there to meet an era of a potential $2,000 plus gold price to boost profits still further.
Pensana (PRE), working in partnership with Polestar, Route2 and the Universities of Leeds and Hull, has been awarded £316,643 in grant funding by Innovate UK under its CLIMATES programme. The partnership will work together to develop a low carbon sustainable supply chain for rare earth magnets. PRE said it believes Polestar 0 will set the standard for the electric vehicle industry, while Route2 has developed market-leading socio-economic impact measurement software and it is delighted to work with them and its academic partners at Leeds and Hull Universities to establish a UK-centric sustainable rare-earth supply chain from “mine to magnets”.
Comment: While a few hundred grand may not seem to be much in the scheme of things, this combined with the improved sentiment in PRE shares – it has been one of the month’s best risers – could take the stock yet higher.
Quantum Blockchain Technologies (QBT), a disruptive software and ASIC chip developer, reported that in the past three months, the company has engaged with a number of the largest North American cryptocurrency miners in order to better understand their commercial needs. This typically entails these parties providing QBT with a number of the most commonly used mining rigs available in the market for the company to study and implement the porting of its Method A and Method B chip enhancements. QBT said it has now entered into the engineering phase of its first two products: Method A which its laboratory tests show an increase in the mining performance by nearly 10% and Method B, which increase the mining probability by 2.6 times. The overall response from the North American miners has been encouraging ; by increasing the hashing power, without increasing CAPEX could, in their view, be a game-changer.
Comment: The $64,000 question as far as QBT is concerned is whether the rise in mining performance will prove attractive to the market. Ideally, BTC would be back at $64,000 as well.
Avacta Group (AVCT), a life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, today announced that, it has entered into a consultancy agreement with Dr. Christina Coughlin, currently a Non-Executive Director of the Group, as it seeks to appoint a full-time Chief Medical Officer. Dr Coughlin said the potential of the pre|CISIONTM platform to deliver significant improvement to cancer patient outcomes is very exciting. The team, led by Neil, has done an excellent job and I am delighted to have the opportunity to work with them to complete the hugely successful dose escalation study and move into the dose expansion study in soft tissue sarcoma patients later this year.
Comment: It was a blockbuster RNS yesterday, and AVCT finesses it today with news of its NED becoming CMO. All of this will be taken as a sign that the company is moving nearer to the big breakthrough its shareholders are gunning for.
Warpaint London (W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands is pleased to announce its unaudited interim results for the six months ended 30 June 2023. There was significant growth in all geographic areas: sales in the UK increased 28%, Europe by 56%, the US by 83% and the rest of the world by 53% in H1 2023, compared to H1 2022. The company said it was delighted with the Group’s continuing strong performance in the first half of 2023, with a record level of sales and profits delivered. It believes the Group is very well positioned to achieve further growth and it remains confident that margins can be maintained going forward.
Comment: One of the best growth companies around, with one of the best business models, and a great CEO. If we were in normal times Warpaint would have already been snapped up by an international rival.
Galileo Resources (GLR) informed shareholders of the results of a licence-wide geophysical review and planning for a Phase 2 drilling programme to test multiple targets over the Shinganda Project Copper-Gold Project, Zambia. The company said the up-to-date geophysical interpretation is an example of how the science of geophysics has progressed. All of its fieldwork and drilling, together with historical work, has been modelled by new technics and it now has a much better understanding of the drivers of mineralisation.
Comment: Despite the ongoing operational progress at GLR, the shares continue to underperform in relative terms. Nevertheless, the more mineralisation it proves up, the better the opportunity here for value hunters.
Genflow (GENF) announced the receipt of written comments from the Federal Agency for Medicines and Health Products (FAHMP) of Belgium. The company said it was pleased with the advice received from the FAHMP to commence clinical trials of its drug, GF-1002, with patients suffering from NASH] (rather than in healthy volunteers). This follows promising results from the Company’s research in in-vitro human cells and in-vivo rodent studies. In order to comply with the updated requirements of the existing grant from the Wallonia region, and to be eligible for future grant funding, Genflow recently undertook an internal debt re-organization.
Comment: We see great validation for Genflow from the medical authorities, something which should remind followers of the company how at current levels the shares are very much in the bargain basement zone.
East Star Resources (EST), which is defining mineral resources in Kazakhstan for the energy revolution, provided an update following visual inspection and logging of core from drilling at the Verkhuba Copper-Zinc Deposit within the company’s 803.7 km² licence package in the Rudny Altai volcanogenic massive sulphide belt, Kazakhstan. The company said it was encouraged by the visual core inspection from within the Verkhuba Copper Deposit, with much of the drilling correlating with anticipated mineralised zones from the historical data. Broad zones of disseminated sulphides with consistent copper and zinc readings by XRF, along with zones of chalcopyrite-rich massive sulphides, leaves very little doubt we are in a strongly mineralised system. Core is currently being prepared for assay which will provide the data it needs to model these results against the historical drill holes which will hopefully form the basis of a JORC compliant resource.
Comment: Shares of EST continue to be disconnected from the progress the company is making. One would not expect this to be the case once it is in possession of a JORC compliant resource.