Skip to main content

Your stock market edge

CleanTech Lithium (CTL), an exploration and development company, advancing sustainable lithium projects in Chile for the clean energy transition, announced an update on activities at two exploration stage projects – sampling results from the Llamara Project and commencement of initial geophysics at a new exploration project in the Salar de Atacama basin. The company said while it continues to progress its key projects Laguna Verde and Francisco Basin, exploration at additional prospects in Chile is also advancing. At its Llamara project it is in the process of receiving and evaluating the results, while initial geophysics results from new licences applied for recently at the Salar de Atacama basin are very positive.

Comment: CTL reminds us that it is not just a “two trick pony” in terms of the key Laguna Verde and Franciso assets. And of course the company is still waiting on the market recognising the value it is sitting on across all its Chile projects.

Premier African Minerals (PREM) reported on the progress of operations at Premier’s Zulu Lithium and Tantalum Project. The company said the plant at Zulu resumed operations with material fed through the newly installed and commissioned mill. In its interim results PREM said it expects to meet the production target for shipments in November 2023. At the same time, this use of the RHA mill only allows for up to 50% of target production and the supply of a new mill to meet full design throughput is expected ex works in Q4 of 2023. This is expected to be installed and commissioned in early Q1 of 2024.

Comment: It has been a very busy newsflow period for PREM, a point underlined by the two RNSs today. So far it seems the shares will squeeze higher in the run up to the supply of a new mill later this year.

Alkemy Capital (ALK) and its wholly-owned subsidiary Tees Valley Lithium announced that TVL together with Weardale Lithium has secured a joint funding package of approximately £613,000, which includes a grant of approximately £430,000 from Innovate UK. TVL said it was delighted to have received this grant from Innovate UK and looks forward to its collaboration with Weardale as it seeks to bring back high value manufacturing to the North East and help develop a potential UK-based supply chain for the lithium sector.

Comment: ALK is and always was going to be the type of company which would attract grants, something which it has shown in a solid way today. The shares remain lower than they should be in the recent trading range.

Yesterday Acuity RM Group (ACRM), which owns Acuity Risk Management Limited released its interim results for the six months ended 30 June 2023. The company said the Acquisition was a major strategic move for ACRM, having worked with Acuity for three years we understand the business and its opportunities, Acuity’s Key Performance Indicators (KPIs) are shown in my report.  They demonstrate continuing advances across all parts of the business and particularly the sales and market opportunity which is expanding quickly with major orders being won. Since the completion of the Acquisition, Acuity has secured two new UK based contracts with a combined value of over £450,000.  In addition, since the period end Kerry Chambers was appointed as CEO of Acuity and as a main board Director of ACRM.

Comment: It has been a relatively quiet summer for Acuity, something which one would expect to change as we expect it to build on the £450,000 worth of contracts it has notched up in the recent past.

Seeen (SEEN) report Interims to June with a reduced EBITDA loss on lower turnover as its focuses on commercializing its proprietary AI Driven software. Turnover is $1.1m and Gross Profit margins greatly improved to 24.6%. As clients used the existing tech before July’s release of the new CreatorSuite 2.0 software. The core technology is its AI-generated Video Moments which is servicing a growing market need as the applications help video asset owners increase income and therefore their video library’s value.  The faster 5G connections and the shift to mass online video consumption are accelerating video usage. There is a growing pipeline for CreatorSuite 2.0, with contract sizes ranging up to $2m in revenues per year. Following the 6p fund rising, mainly with Institutions, net cash is cir.$2.1m, and they are on track to achieve monthly cash flow breakeven from the current pipeline of opportunities.

Comment: There seems plenty of financial and non-financial evidence in the Interims and supported by the Tech Demo Day 2 weeks ago, that the £5.6m Mkt Cap at 6p is looking back and not forward.

Symphony Environmental Technologies (SYM) interims to end June showed increasing sales and reduced losses. Its Revenue improved 16% to £3.6m while the net loss is down from £1.4m to £0.8m.  Substantial time and investment have been made developing its suite of d2w biodegradable plastic technologies and strengthening the IP portfolio. There is a wide range of d2p formulations aimed at being used in enormous sectors such as food, insecticidal and flame-retardant. These ‘unique’ products are being trialled in different applications and in several markets such as South Africa, South Korea, Yemen, and Turkey.  Symphony India, is a joint venture, with the mighty Indorama India and is set to get a boost from new regulations. Generally, regulators and increasing companies understand the benefits of SYM’s low cost, immediate use, and non-disruptive solutions which when added to ordinary plastic products it results in removing plastic litter and microplastics from the environment.  The rate of progress to commercialisation is hard to judge although significant commercial news can be expected.  There is non-equity funding in place for working capital supported by a £1m 7% convertible loan from its largest shareholder, due for repayment end of H1 2024.

Comment: There is a compelling and large need to reduce plastic waste, it seems a matter of when not IF SYM solutions will be recognised and widely adopted. This possibility does not seem reflected in the £12m Mkt cap.

Poolbeg Pharma (POLB), a clinical-stage biopharmaceutical company, announced that the oral opposition hearing scheduled by the European Patent Office relating to the challenge to the Company’s European patent (Immunomodulator I), has been cancelled. This favourably concludes this matter with the patent maintained as granted. POLB said it was delighted to share that the European Patent Office has decided against proceeding with the scheduled hearing, following the withdrawal of the patent opposition by a third party.  It has always maintained confidence in the strength and validity of its patents and it is pleased to bring this matter to a close and look forward to continuing to strengthen our IP protection of this exciting molecule.

Comment: We have a good fundamental win for Poolbeg, something which should help the company continue to garner appreciation in the market.

First Class Metals (FCM) issued a half year report for the six months to the end of June 2023. The company said with fieldwork planned and in operation across Sunbeam, North Hemlo, Esa, Enable and Zigzag the year started with a very active program. Behind the field work the Company’s board progressed drilling permits and amendments to existing permitted properties. First Class Metals is funded to continue to drive through the exciting planned workstreams ahead.

Comment: It was a busy time for FCM going into the summer, but it should probably be the case that the remainder of 2023 is when the company gets its portfolio much further to the promised drill ready status.

Kendrick Resources (KEN) the Scandinavian focused new age mineral exploration and development company with nickel and vanadium projects in Norway, Sweden and Finland, announces its unaudited interim results for the six months ended 30 June 2023. The company said its review of its projects has given it confidence that its north European assets are well located with significant potential in the quickly emerging space of energy generation and storage.

Comment: Rather like Metals One, Kenrick’s geography in Scandinavia means that it is favoured in terms of the central European markets, and by the relatively low carbon footprint of bring its nickel and vanadium to market.

Bezant (BZT), the copper-gold exploration and development company, announced its unaudited interim results for the six months ended 30 June 2023. The company said that during the period the copper price has continued to be volatile, but the consensus remains that there is an impending shortage of copper supplies. It believes it has an above average copper project portfolio, and it continues to have several discussions regarding finance and resource collaboration for their advancement.  At the time of writing, it is still in discussions and negotiations regarding portfolio advancement.

Comment: There certainly is work to be done for Bezant in terms of developing its portfolio, especially in the current funding environment. However, it should be the case that it is the quality of its assets that gets it over the line.

Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced its interim results for the six-month period ended 30 June 2023. The company said with a stable of quality projects, each with significant prospectivity, and including one already hosting a discovery of global significance, it is with huge enthusiasm and excitement that it looks forward to the remaining months of 2023, and on to 2024, for it sees this upcoming period as a time of important project and company development, and great value creation for its shareholders.

Comment: It really has been a cracking 2023 for EEE, and as we hear from the RNS today, the next year is likely to be even better as it proves up Pitfield.