Metals One (MET1), which is advancing strategic minerals projects in Finland and Norway, is announced that the Company’s Råna Project partner and operator, Kingsrose Mining, has satisfied the conditions precedent to the second stage of the Transaction Implementation Agreement regarding its staged earn-in to the Råna Project. As a result, Kingsrose has to date earned a 51% interest in the Råna Project by incurring A$3 million of expenditure, and drilling at least 5,000 metres, on the project. Metals One’s Råna Project ownership now stands at 39%, with the balance being held by Global Energy Metals Corporation. MET1 said it was delighted that Kingsrose has achieved its Second Completion milestone – a strong endorsement of its commitment to the project. Kingsrose’s continued investment has ensured drill work has been able to occur on schedule and it looks forward to analysing the results of the recent core drilling programme which will help inform next steps for the project.
Comment: The newsflow momentum here at MET1 is such that one would believe the current paltry stock market rating will flip quite sharply, especially as the drilling and the associated results become clear.
Shield Therapeutics (STX), a commercial stage pharmaceutical company that delivers ACCRUFeR®/FeRACCRU® announced its unaudited interim results for the six months ended 30 June 2024, reporting a substantial increase in revenues, ACCRUFeR® prescription sales and net average sales price. Revenues $12.1 million, a 3.2x increase over H1 2023 ($3.7 million). Operating loss $15.5 million compared to $12.6 million in H1 2023. STX said H1 2024 has been another strong period of growth for Shield which is demonstrated through the significant increase in sales figures, net selling price and number of prescriptions for ACCRUFeR® in the US. It continues to focus on building momentum through creating greater awareness of ACCRUFeR® among health care professionals in the US as well as expanding its geographic reach with its international partners.
Comment: Shares of STX have more than tripled in the month before today’s announcement, as the market has hopes that this could be a bona fide turnaround situation. The key here though is the share price breaking and holding above 5p.
Rockfire Resources (ROCK), the base metal, precious metal and critical mineral exploration company, announce a JORC Mineral Resource upgrade of 500% at the Molaoi zinc/silver/lead deposit in Greece. ROCK said that expanding the Molaoi resource to become such a globally significant deposit with more than 1 million tonnes of zinc, is testimony to the tenacity, hard work and sound geological understanding of, and application by its technical team. Its maiden JORC resource in 2022 was established on a geological model of a single main zinc lode. At that time, three other lodes were identified but not included in the Maiden resource due to a lack of modern drilling evidence for the verification of these additional lodes.
Comment: We knew that Molaoi was always going to be a significant asset, and today’s news underscores this concept. It is therefore surprising that ROCK shares remain near the low end of the range.
EDX Medical Group (AQSE: EDX), which develops digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, published its Annual Report and Financial Statements for the period ending March 31, 2024. In February Investment the company raised an aggregate of £5.7million at 12p. EDX said over the last 12 months the Company has passed a series of notable milestones which reflect growth and the maturing nature of its business. It was able to accelerate our product development pipeline, following very successful fund raising in February. This enabled the management team to press on and secure significant partnership agreements for EDX Medical to sell class-leading diagnostic products in the UK and certain European markets.
Comment: The one man crusade to highlight Aquis companies of note continues here at Zakstraderscafe.com, made all the more worthy given the way that it is being deliberately ignored. The prospect of partnership agreements at EDX makes the current stock market rating appear modest, even within the context of being an Aquis stock.
Good Life Plus Plc (AQSE: GDLF), a luxury prize draw and rewards innovator, announced a landmark distribution partnership agreement accessing one of the UK’s largest mobile network operators. GDLF said it was delighted to announce the completion of its first brand partnership with a leading name in the European telecom industry. Its platform is built for rapid scalability, and this agreement marks a significant milestone for both parties. It hopes this will be the first of many such partnerships, each with the potential to accelerate our growth, as it actively explores opportunities through both established and emerging channels. Strategic collaborations with blue chip brands and media partners, complemented by its direct-to-consumer marketing campaigns, are expected to greatly enhance its market presence and drive subscriber growth.
Comment: Perhaps understandably, shares of GDLF have been rising well ahead of today’s news, as some in the market successfully guessed what was on its way. A further re-rate should be in the offing now that a big fish is under the company’s belt.
Upland Resources (UPL) updated the market on a discussion held in Kuching, Sarawak at the Government Cabinet Office on September 3rd. The Company has been in communication with the Sarawak Government, the final authority for Onshore O&G Assets, in relation to a Production Sharing Contract (PSC). Bolhassan Di, Upland Chairman and CEO, together with UBO board met in the Government Cabinet office, with the Premier, Deputy Premier and Deputy State Secretary of Sarawak, a very constructive meeting was held. The Premier and the Deputy Premier hold authority over Natural Resources and Urban development in Sarawak. Further face to face meetings have been planned between Upland and the Government, the company will update the market in due course.
Comment: More jaw-jaw at UPL, and presumably enough of it to keep fans of the company sweet until the big PSC news, which they are assuming will be transformational, especially from current share price levels.
Sovereign Metals (SVML) announced that Kasiya graphite concentrate is confirmed to be an excellent feedstock for natural graphite anode materials suitable for battery production. SVML said these results confirm that Kasiya graphite concentrate will be an excellent anode material feedstock to the battery industry. Not only is the weathered, saprolite-hosted graphite easy to purify to very high-grades, the anode material produced meets the highest industry specifications. Along with the very low BET specific surface area and high tap densities (both resulting in excellent first cycle efficiencies and initial battery discharge capacities), Kasiya has the potential to become a dominant source of graphite supply ex-China.
Comment: While the market seems to be happy talking a rather nonchalant attitude towards its achievements, and the presence of RIO, it can be seen that SVML is adding new milestones that will continue to add value and potential to the company.
EQTEC (EQT), a technology innovator, announced that, further to its announcement of 14 August 2024, it has received confirmation from its solicitors that monies amounting to £2 million have been received on the Company’s behalf comprising the full amount of the sum agreed under the settlement agreement with Logik Developments Limited and its wholly-owned subsidiary Logik WTE Limited. EQT said that with the receipt of the funds all matters under the settlement agreement are fully resolved and concluded. £500,000, being 25% of the settlement amount, will be paid to YA II PN Ltd and Riverfort Global Opportunities PCC Limited to reduce the balances outstanding under the existing secured Term Loan maturing on 23 May 2026. EQT also announce it has raised £1.1 million at a price of 1 pence, and is launching a retail offer of £200,000.
Comment: At least it can be seen that EQT is now moving to be fully cashed up as it headed into the promised new direction, after the settlement, and with new cash raised in the run up to £2m heading its way.
Mosman Oil and Gas (MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announced that further to the Company’s announcements of 10 June 2024 and 15 July 2024, the Company is nearing the completion of the sale of its interest in Nadsoilco LLC, which owns the working interest in Stanley, Greater Stanley and all of Mosman’s interests in the Winters leases in the Polk County, Texas, USA. MSMN said that the target date for completion was 3 September 2024, and with documentation still being progressed, the expected date of completion has been extended to 9 September 2024.
Comment: Holders of MSMN have been sitting on the edge of their seats waiting for sale completion. Presumably they can wait a little longer for D-Day to actually arrive. The key here is that the shares remain on the right side of 0.05p while we wait.
Helium One Global (HE1), the primary helium explorer in Tanzania, confirmed a helium discovery following completion of its extended well test operations at Itumbula West-1 which successfully flowed a sustained average of 5.5% helium (air corrected) from the fractured Basement and flowed a sustained average of 5.2% helium (air corrected) to surface from the faulted Karoo Group. HE1 this is yet another huge milestone for the Company and it was delighted to have successfully flowed helium, of significant concentration, to surface from both intervals during the EWT. The well was flowed naturally during the testing and based on the recorded flow rates, with the addition of artificial lift in the production phase this becomes a globally significant helium project in southern Rukwa.
Comment: HE1’s helium finds appear to be like London buses. Nothing arrives for ages and then all of sudden three arrive at the same time. The question is whether this is enough to take up the slack of all the new shares issued above 1p?
Polarean Imaging (POLX), a commercial-stage medical device leader in advanced magnetic resonance imaging of the lungs, announces its unaudited interim results for the six months ended 30 June 2024. Group revenues for H1 2024 of US$1.1m (H1 2023: US$0.1m), reflecting increased commercial traction. POLX said it was pleased with the results for the first half of 2024. The revenue is tangible proof that our five-pillar growth strategy to revolutionise pulmonary medicine is starting to produce results.
Comment: Having raised a large wad of cash, and with its five-pillar growth strategy, one can see POLX turning the corner, if only in terms of the share price. At least 2p plus beckons near term.
CAB Payments (CABP), a specialist in business-to-business cross-border payments and foreign exchange in hard-to-reach markets, announces its interim results for the six months ended 30 June 2024 and updated strategy. CABP said its H1 results were resilient despite the exceptional prior year as set out in its trading update in July. Its outlook remains unchanged from its previous update and there was encouraging trading at the beginning of H2. It expects its Gross Income to be marginally below last year whilst it exhibits good growth across a broader range of currency corridors.
Comment: CABP is one of those situations where all and sundry believe there will be a rebound from the massive fall seen in the shares in 2023. This may happen, but it is still not a done deal.
Cirata (CRTA), announced its interim unaudited results for the six months ended 30 June 2024. The Board said it was retaining its FY24 booking guidance of $13-15m as, with strong execution, it remains achievable although demanding with expected bookings Q4 FY24 weighted. Sequential progression on FY23, with 81% bookings growth at the low end and 108% at the high end the FY24 cash overhead cost base is expected to be c.$23m and is expected to be at $20m annualized as we exit FY24.The Board believes that the current levels of lead generation and early-stage pipeline support the medium-term ambition of the Company.
Comment: There was a brief rally in CRTA shares ahead of today’s news, with the implication that some of the shorts were concerned that the company may be able to turn itself around quicker than expected. That said, there is clearly some distance to go.
Author
