Golden Metal Resources (GMET), a strategic mineral exploration and development company focused on Nevada, USA, announced exploration work has confirmed the potential for large scale porphyry and skarn type copper mineralised bodies at the Company’s 100% owned Garfield project located within the prolific Walker Lane Mineral Belt in Nevada, USA. GMET said it was very excited about the discovery of what appears to be both skarn-type as well as porphyry deposit geochemical signatures within the Garfield Project’s High-Grade Zone, where minimal historical rock sampling returned up to 5.53% copper.
Comment: Once again GMET underlines that it is the poster child of the recent mining IPOs in the small cap space, with frequent, significant newsflow. There is every reason to believe that below the listing share price is the value / bargain zone for investors.
Firering Strategic Minerals (FRG), an exploration company focusing on critical minerals, announced its interim results for the six months ended 30 June 2023. The company said after the period, and supported by the positive results from Part 1 of the Phase II auger drilling campaign, it announced its intention to start a 3,000m RC drilling campaign at Atex, which it believes has the potential to become a significant lithium producer in Côte d’Ivoire. Post period, activity levels further increased and it was delighted to have agreed an option agreement with Limeco Resources, which owns a limestone project in Zambia.
Comment: We have seen a good period of fresh newsflow from FRG, over and above its oversubscribed fund raise. One would expect the shares to take their place again in the leading pack of London listed lithium plays.
Pires Investments (PIRI), the investment company focused on next-generation technology, announced its unaudited interim results for the six-month period ended 30 June 2023. The company said the first half of 2023 has continued to be a difficult time for small-cap listed companies and for those companies with a technology focus. However, notwithstanding this market backdrop, Pires has been able to broadly maintain the value of its portfolio and a number of the Company’s investments have also continued to make good progress during the period. In particular: Smarttech247, as a quoted company, has continued to grow revenue and EBITDA and is winning new contracts.
Comment: An investment company in a bear market is perhaps not going to be a hot spot for investors, but even so at current share price levels / valuations, one has to say that PIRI is rated as pocket change.
RiverFort Global Opportunities (RGO) announced its unaudited interim results for the six months to 30 June 2023. The company said that given the difficult market conditions of 2022 continuing into 2023, RGO has continued to accumulate and preserve cash during the period such that at the period end the Company had a cash balance of £2.4 million. This strategy has, however, resulted in a reduction in investment income, although at the same time, the Company has broadly maintained its NAV.
Comment: RGO is another company boosted by S247, and trading at a 55% to NAV despite having £2.4m in the bank. To say that the stock market treats companies unfairly these days is an understatement.
Reabold Resources (RBD), the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, announced that the Environmental Agency permit for the use of oil-based drilling fluids at the West Newton B-2 well has been approved. RBD said it was delighted to receive approval from the EA for the West Newton B site. Its studies have clearly demonstrated that the use of oil-based drilling mud will be a key factor in enhancing flow rates from wells in this field, and therefore this is an important step for the drilling of the B-2 horizontal well next year. West Newton is potentially one of the largest hydrocarbon fields discovered onshore UK and it remains focused on developing and unlocking the significant resource potential of this asset.
Comment: The EA thumbs up is certainly a key development for RBD, especially given the way that the company’s valuation is so low. It could finally be the trigger for a long awaited re-rate for the stock, given the “significant resource potential” of West Newton.
Zinc Media Group (ZIN) interims to June are reported as being excellent, with a 68% increase in Revenue to £18.1m, Gross Margins up to 41% from 33% as there is growth in both TV and Content Production. The EBITDA turned from a loss to a profit of £0.2m and this represents Zinc’s best performance for over a decade. It’s clients are basically all the TV and broadcasting channels including Sky, BBC, ITV, Discovery etc. who want more content. Last month, following the Trading up-date directors added 303,856 shares to their holding at the current price. June’s Trading update reported total orders won and due to be recognised in FY23 is £31m. The pipeline remains strong a further £7m of revenue for recognition in H2 is in highly advanced discussions. The cash of £5.8m around is sufficient for the significant planned organic growth.
Comment: The £20m Mkt Cap at 92p remains well below the year’s high and seem so its lights, camera and H2 action.
Bluebird Merchant Ventures (BMV) high grade gold prospect is to be drilled in the Philippines by the mine resurrection company (it reworks previous mines). The Batangas prospect is being developed with a highly experienced JV local partner and the three -phase drill program will initially focus on an untested area but highly prospective area. The Philippines partner has already invested $20m in the project and the structure gives BMV shareholders a free carry to the decision in return for 60% of the project equity.
Comment: After the £1.125m funding in March at 2p this should be positive news for the 0.75p shares.
Great Western Mining (GWMO) which is exploring and developing gold, silver and copper targets in Nevada, announced its unaudited results for the six-months ended 30 June 2023. GWMO said its portfolio underpins the Company’s strong growth potential and value upside. We are expecting to commence production of gold and silver concentrates during the second half, using the significant volumes of material on our claims and, in due course, material from third parties.
Comment: It could be said that everyone and their mother are sitting on the edge of their seats waiting on the commencement of GWMO’s gold and silver concentrates, something which will market a strong fundamental inflection point for the company.
OptiBiotix Health (OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease, diabetes and skincare, announced its unaudited results for the six months ended 30 June 2023. The company reported strong first half of trading with sales of £351k (2022: £119k), a 195% increase over H1 2022. Given H1 2022 included £19.5k from Probiotic sales up to March 30 2022, the ‘like for like’ increase is 251%. 85% of this sales income was received in Q2 2023.
Comment: OPTI finesses its great 2023 transformation reminding us how well it was doing even before this transformation took place. Still basking in the afterglow of last week’s Boots deal, we can look forward to the shares finishing the year with a flourish.
Pantheon Resources (PANR), the oil and gas company with a 100% working interest in the Kodiak and Ahpun projects, advised that operations for the re-entry at Alkaid-2 have now commenced. The company said it was pleased that operations for the re-entry at Alkaid-2 have now begun. As stated, it was not targeting maximum flow rates, instead, this programme is designed to allow for as much data gathering as possible.
Comment: Now that PANR has new found credibility in terms of its assets, announcement like today effectively become a lap of honour. They also underpin the recent stellar share price recovery.
Yesterday SEEEN (SEEN), the media technology platform that delivers Key Video Moments and Shoppable Video Prompts to transform video profitability, announce a TR1 revealing that The 181 Fund Limited was in on the shareholder register at 7%.
Comment: This is a decent validation for the company after the recent well received Technology Day presentation. One would expect further recovery in the stock, over and above what has been delivered in recent days.
Panther Metals (PALM) the company focused on mineral exploration in Canada announced the acquisition by staking of 19 additional single cell mining claims, covering circa 415 hectares (4.15km2). The company said Manitou Lakes is rapidly developing into one of the most exciting greenfield gold exploration projects in Ontario. The drilling successes being reported this year by Dynasty Gold within the region combined with the proposed listing of our direct neighbour Dryden Gold this autumn on the TSXV has helped drive a staking rush in the area that now makes it almost impossible for new entrants to gain a foothold.
Comment: PALM joins the gold rush in Ontario, something which drives the recent positive moment behind junior miners in London focused on the space. Ideally, today’s news keeps the share price on the right side of 3p.
i3 Energy (I3E), an independent oil and gas company with assets and operations in the UK and Canada, has been notified that on 22 September 2023 and 25 September 2023, Jason Dranchuk, Chief Financial Officer, purchased in aggregate 200,000 ordinary shares at a price of CAD 0.215 per share.
Comment: Given the resurgent oil price, and the still low end of the range share price of i3, it is certainly logical that we see management of the company wading in to buy shares at cheap levels.
Rainbow Rare Earths (RBW) announced that it has agreed conditionally to issue 30 million new ordinary shares in the Company at a price of 15p per Ordinary Share, thereby raising gross proceeds of £4.50 million. The company said this is an exciting time for the Phalaborwa project, following the milestone production of the mixed rare earth sulphate from the front-end pilot plant in South Africa and with the production of separated rare earth oxides from our back-end pilot plant in the US expected in Q4 2023.
Comment: RBW has been able to take advantage of a recent strong share price run by raising a decent chunk of change. It is clear that these funds will be put to good work, especially at Phalaborwa.