Yesterday, Tirupati Graphite (TGR) the specialist graphite producer and a supplier of critical minerals for the green transition economy, said it was offering investors the opportunity to have a 1-2-1 meeting with Executive Chairman and Managing Director, Shishir Poddar. The meetings will take place at a central location in the City of London during the week commencing 11 September 2023. The individual meetings will provide investors in Tirupati the opportunity to receive an update on the company’s Madagascan and Mozambique operations, as well as the company’s strategic focus and pathway to achieving 8% of global flake graphite demand by 2030. They will also provide an invaluable opportunity to ask questions and provide feedback directly to management.
Comment: It is quite right that TGR is offering this 1-2-1 at this time as it would appear that the more progress the company makes, the less favourable sentiment is towards the stock price. One would hope this direct interaction with investors will clarify and educate investors.
Power Metal Resources (POW), the AIM listed metals exploration and development company, announced the discovery of a significant helium anomaly at its 100% owned Perch River Uranium Project within the Athabasca Basin, Saskatchewan, Canada. The company said it is very exciting to be able to deliver this news to shareholders. This season’s wider uranium fieldwork remains ongoing and further updates will be provided in due course. However, the indications we have had from Perch River could be hugely significant and warranted immediate release.
Comment: It is interesting that POW is so enthused regarding Perch River, at a relatively early stage. Ideally, some of this gusto will start percolating through to the stock price, which continues to be detached from the progress made by the new CEO.
Dekel Agri-Vision (DKL), the West African agriculture company, provided an August production update for its Ayenouan palm oil project in Côte d’Ivoire. The company said it was pleased to record its 6th consecutive month of stronger CPO production compared to last year. Together with strong CPO and PKO sales volumes, the Palm Oil Operation monthly financial performance during H2 2023 continues to track well ahead of H2 2022.
Comment: While shares of DKL are essentially the same price as they were this time last year, it is clear that the fundamentals are rather better than they were in 2022. This aberration should gradually correct itself off the back of more updates like today’s.
Atlantic Lithium (ALL), the African-focused lithium exploration and development company, announced that it has agreed non-binding Heads of Terms with the Minerals Income Investment Fund of Ghana to invest a total of $32.9 million (A$51.4m / £26.3m) in the company and its Ghanaian subsidiaries. MIIF’s proposed investment will support the development of the company’s flagship Ewoyaa Lithium Project and the broader Cape Coast Lithium Portfolio in Ghana towards production. ALL said at this important stage in the Project’s development, as it advances towards first production, it is delighted that the Minerals Income Investment Fund of Ghana has agreed to invest $32.9 million in the company to support of Atlantic Lithium’s flagship Ewoyaa Lithium Project and broader lithium portfolio in Ghana.
Comment: Shares of ALL have not really recovered from their shorting “scare”, and so it should be the case that today’s significant funding news rattles any / all bears in the stock. If it does not do so immediately, it should not be long.
AMTE Power (AMTE), a developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, announced that it has conditionally placed new shares at a price of 1.7p to raise approximately £2.1 million. To enable existing shareholders to participate in the equity fundraising, the company is proposing to raise up to a further £0.25 million The company said it was very pleased to have the support of existing and new shareholders as it looks to put in place the Initial Recapitalisation Plan and progress towards restoring the Group’s financial foundations. It was particularly excited to be working with a potential investor who can truly support the strategic growth and development of the business.
Comment: Shares of AMTE closed at 9.25p versus the 1.7p placing price. Indeed, one had to check the overnight share price to make sure that the fund raise level was not a typo.
Harland & Wolff (HARL), the UK quoted company focused on strategic infrastructure projects, presented its unaudited interim results for the six-month period ended 30 June 2023 (“H1 23”) and business update. Revenues were of £25.53 million; a 65% increase from the previous year (30 June 2022: £15.41 million). The company said these are increasingly exciting times at Harland and Wolff – not just from a broad company perspective – but for each of our yards, the communities that they serve and of course, our workforce.
Comment: Given the massive revenue jump at HARL one may be rather surprised that the shares are not rather closer to year highs through 28p than they are. Presumably, this will be the target for the bulls for the rest of this year.
Braveheart (BRH), announced an update on Kirkstall Limited, a company within the Group’s investment portfolio. Kirkstall, in conjunction with the Biomedical Ultrasonics, Biotherapy and Biopharmaceutical Laboratory within the Institute of Biomedical Engineering at the University of Oxford, has developed an “organ on a chip” model of an innovative, milli-fluidic system, human blood-brain barrier which has been used to map the interaction between the blood-brain barrier and brain cancer. BRH said It is exciting to observe how collaboration between Kirkstall and Oxford University has resulted in an innovative and important application for the Quasi Vivo platform.
Comment: Any RNS with “organ on a chip” has to be worth a mention, especially something which would appear to be so crucial in the battle against brain cancer.
Imaging Biometrics, LLC (IB), a wholly owned subsidiary of IQ-AI Ltd (IQAI), is pleased to announce the results of a study that validates IB Neuro’s processing of reduced-dose gadolinium-based contrast agent (GBCA) perfusion studies on 1.5T scanners. “IQ-AI and our collaborators around the world continue to make advancements towards reducing GBCA consumption,” said Trevor Brown, CEO of IQ-AI. “While our patented artificial intelligence technology available in IB Zero G remains in active development, this study provides an immediate option for cutting GBCA by 50% on 1.5T and 3T scanners”, Brown added.
Comment: Answers on a postcard in terms of what the science is about here. But we are reminded of how AI is transforming science at the moment.
Polarean Imaging (POLX), a commercial-stage medical device leader in advanced MRI of the lungs, announced that it has partnered with VIDA Diagnostics, a clinical imaging intelligence company providing medical imaging software solutions which manage the complexities of digital biomarkers. The companies are partnering to further enable the Polarean xenon 129 MRI platform to accelerate clinical and research use. POLX said it continues to cultivate partnerships with entities that enhance our its capabilities. It is excited to form this partnership with VIDA, a world-renowned organisation in the field of lung imaging software platform solutions and biomarker development.
Comment: It continues to be rather disappointing that POLX shares remain about as popular as ULEZ, despite serving up the type of positive initiatives we are hearing of today.
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