ImmuPharma (IMM), the specialist drug discovery and development company, announced its interim results for the six months ended 30 June 2024. On 3 June 2024. ImmuPharma divested its investment in shares in Incanthera. All of the 9,904,319 shares held at the year-end were sold at 15p per share realising gross proceeds of £1.5 million. Loss for the Period of £0.4m (30 June 2023: £0.8m). IMM said it remains committed as a Board, on the development of P140 in SLE and CIDP, its two key late-stage clinical assets, together with securing additional partnering for P140. It has made significant scientific progress over the last period, including refinement of the protocols for the SLE and CIDP studies and new insights into the MOA of P140, and as a result, it has a high level of confidence of the success of these new studies.
Comment: If IMM had sold its shares in Incanthera (AQSE:INC) at current levels, 28.5p, rather than 15p, it would have made a profit on the year. It should have asked me, but then who would do that? In fact, above 25p INC shares could still hit 40p by the end of the year.
Symphony Environmental Technologies (SYM) reported interims to June 2024. Revenue eased 5% to £3.4m but with a 50% reduction in Operating loss to £0.4m. Its specialist d2w additives make plastics biodegradable so helping to reduce plastic pollution, and its other technologies help solve other issues such as Food preservation, Crop growing, Water pipe protection and Human safety. There are key JVs in India and the US where positive legislation and regulation changes could give a stepped increase d2w demand. The repayment date of the CLAs with it 17% shareholder Sea Pearl has been extended to end the December 2025. March a placing price with its directors and its main shareholders raised £1.4m at 3.5p which buys a year’s working capital.
Comment (Jon Lev): There have been years of promises yet to be fulfilled which is reflected in the 3.3p and £7.4m mkt cap but there seems little hope that one of the potentially game-changing opportunities will close in the next 12 months.
Eurasia Mining (EUA) said that trading on AIM said that the suspension in its shares was lifted from 09/09/2024 7:30am, the annual audited accounts having been published.
Comment: The shorting conspiracy / defamation squad must be so upset that EUA has been given £2.5m by Sanderson Capital, and therefore can keep on trucking for an extended period.
Brave Bison (BBSN), the digital advertising and technology services company, today reports its unaudited interim results for the six months ended 30 June 2024. BBSN said it was pleased to report strong trading in the first half of the year and expect momentum to build as it approaches the last few months of FY24. With adj. EBITDA of £2.1m in H1, an increase of 20% YoY, it expects to deliver results ahead of market expectations. Its business plan of buying, integrating and growing digital advertising and technology services businesses continues to show traction and it looks forward to updating shareholders with further progress at the end of the year.
Comment: Yes, the company is actually making money, and it expects to be ahead of expectations. The missing ingredient is that the share price is not reflecting this, with the company continuing with Radio Silence PR.
Voyager Life (AQSE:VOY) announced that preparations to bring the Rost 1-26 well owned by M3 Helium Corp. into production are now well advanced. Sales of helium from that well are expected to commence by end of September 2024. VOY said the elevated helium concentrations coupled with the attendant high pressure has quite rightly pushed the Rost well into pole position as M3 Helium’s flagship project. M3 Helium management are optimistic that, when the well comes on production, it will be a significant contributor to its operations.
Comment: With its celebrity CEO Nick Tulloch, and the online PR “ladocracy” backing the story, one would have thought the market cap here would be rather more than £1.8m. Perhaps Aquis is a factor, or that we are waiting for those helium sales later this month, or the “ladocracy.”
EQTEC (EQT), a global technology innovator, announced the completion of the WRAP Retail Offer has raised gross proceeds of £72,528.15. The net proceeds of the Fundraise, along with the Company’s existing cash resources, will be deployed for general working capital purposes and to accelerate the implementation of its strategy.
Comment: With plenty of cash now in the bank, the promise of delivering on the new strategy here is a real one, and the market should start to take note.
EDX Medical Group (AQSE:EDX) which develops innovative digital diagnostic products and services for the personalised treatment for cancer, heart disease and infectious diseases, announced that Jason Holt, Chairman of the Company, and Prof. Sir Chris Evans, Founder of the Company, have written to shareholders with an update on the Company’s activities. EDX said it expects to record growing revenues commencing in the final quarter of this year and is pleased to confirm that the pipeline of additional products in development continues to expand, underpinning future continued growth. The management team is continuing to explore further ‘point of care’ and laboratory testing solutions through its own laboratory facilities in Cambridge and Oxford as well as in partnership with key global players in the life sciences sector.
Comment: EDX seems primed for new deals and a new leg up for the shares. It is a shame that apart from coverage here and the RNS’s, the company has not made more of a song and dance regarding its prospects.
European Green Transition (EGT), a company developing green economy assets in Europe, announced that it has completed the low-cost drill programme at its Olserum Rare Earth Element Project in Sweden. EGT said the successful completion of our drilling programme ahead of schedule and below budget marks a significant milestone for the Olserum REE project. The initial findings are encouraging, and it looks forward to the assay results, expected later this year.
Comment: Shares of EGT have spent their life so far on the stock market wholly above the 10p issue price. The ongoing newsflow implies that a fresh push to the upside is overdue.
Avacta Group (AVCT), a life sciences company, announced that the company will present updated data from the Phase 1a trial of AVA6000 at the 2024 European Society for Medical Oncology (ESMO) Congress, in Barcelona, Spain from 13-17 September 2024.
Comment: AVCT fills the newsflow gap with the announcement of a jolly in Barcelona in aid of AVA6000. A new leg up for the stock through the key 74p zone is what the stock’s holders are sitting on the edge of their seat for as it would represent the first bullish push through the 200 day moving average this year.
Oncimmune Holdings (ONC), an autoantibody profiling company providing research services to the pharmaceutical and biotechnology industry to enable the delivery of precision medicine, is pleased to provide a trading update following strong commercial progress since its last update on 21 May 2024. ONC said this has been a very busy period for Oncimmune commercially and a real indication of the commercial traction it has been seeing in the market. These new wins help to set it up well for FY2025 following on from the solid base we have built in FY2024 giving it confidence in its ability to be a profitable business in FY2025.
Comment: Being a decent, growth biotech stock on the London market these days is about as easy as a pensioner heating your home in winter. However, ONC could be the exception that proves the rule.
Electric Guitar (ELEG), the digital marketing and advertising company providing first-party data solutions, said it was delighted to announce that its primary operating subsidiary, 3radical Limited, has secured a commercially significant new contract with Jewson, one of the UK’s leading suppliers of sustainable building materials.
Comment: Gaining a real world client / High Street name is a great coup for ELEG, and should ensure the market finally picks up on the opportunity here.
Revolution Bars Group (RBG), an operator of 65 premium bars and gastro pubs, trading mainly under the Revolution, Revolucion de Cuba and Peach Pubs brands, announces that further to its announcement on 10 April 2024, Luke Johnson has been appointed to the Company’s Board as Non-Executive Chairman today following the retirement of Keith Edelman, who has been Chairman since 16 Feb 2015.
Comment: Getting a City grandee such as Luke Johnson is a massive coup for RBG, and could mean that it is fully revived. Did anyone mention Patisserie Valerie? No, they did not. Stick to Gail’s, especially in Walthamstow.
UK Oil & Gas (UKOG) announce that its strategic Dorset salt cavern hydrogen storage project, operated by its wholly owned subsidiary UK Energy Storage, has received a further key letter of support from The Solent Cluster, which constitutes the primary near-term industrial user base of the Company’s planned facility. UKOG said the production, transport and storage of hydrogen are key infrastructure elements of The Solent Cluster, with significant national scale hydrogen facilities planned by our members, including SGN, RWE and ExxonMobil, two of whom, it understands, have also furnished LOS to UKEn.
Comment: While it was supposed to be the “Gatwick Gusher” that was a company maker at UKOG, it looks as though years later the more pedestrian concept of energy storage is what could finally get the company over the line.
Andrada Mining (ATM), a critical raw materials producer, announced that one of the world’s largest lithium chemicals producer, Sociedad Química y Minera de Chile SA through its subsidiary SQM Australia (Pty) Ltd, has entered into a three stage earn in agreement to partner with the Company in developing the Lithium Ridge asset. ATM said it was incredibly pleased to announce its partnership with SQM, a global leader in the lithium industry and to be part of the first African partnership that SQM has entered.
Comment: ATM’s main PR issue is the sprawling nature of the business, something that means that investors very often do not know what they are wishing for. Nevertheless, today’s news is yet another significant step forward.
Sunda Energy (SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announce its unaudited interim results for the six months ended 30 June 2024. SNDA said it has made significant change and progress in the reporting period. The change of the Company’s name to Sunda Energy reflects our new strategic focus solely on Southeast Asia and this strategy is being implemented by a refreshed Board with a deep and broad experience in natural resources and corporate finance. It is primarily focused on its upcoming appraisal activities on the Chuditch field in Timor-Leste and is currently progressing funding arrangements to enable the drilling of the Chuditch-2 appraisal well. At the same time, it is actively pursuing a business development strategy to target assets of similar materiality, in line with the Company’s goal of building a substantial energy business in the Southeast Asian region.
Comment: SNDA is keeping ts shareholders on the edge of their seats regarding Chuditch, and it may be a while before the shares finally come to the boil. But it is perhaps the prospect of other moves in SE Asia that are just as exciting.
CleanTech Lithium (CTL), an exploration and development company advancing lithium projects in Chile, announces that whilst the admission process for the ASX duel-listing runs its course over the coming weeks, the Offer Period has been extended by up to two weeks accordingly.
Rockfire Resources (ROCK), the precious metal, base metal and critical mineral exploration company, announced its unaudited interim results for the six months ended 30 June 2024. The loss attributable to the shareholders of the Company for the six months ended 30 June 2024 was £887,572, an increase of £476,427 from the comparable period to 30 June 2023. The primary reason for the increase is attributable to increased administrative costs from Hellenic Minerals during drilling and costs associated with evaluating and appraising new business opportunities.
Comment: With Molaoi starting to sizzle in terms of the latest resource upgrade, one would hope that today’s rear view mirror update will be the last of its kinds.
Upland Resources (UPL), announced that one of its strategic Malaysian investors, K Meranun, has approached the company to participate in an equity subscription at 1.4 pence for 42,857,142 new ordinary shares in aggregate. This being a 12% premium to the closing price on Friday 6th September.
Comment: It has been observed here on Zaks Traders Café that anything under 1p for the UPL share price is “bargain basement” territory. This may be slightly overcooking it. But 1.4p is close to this possible value zone.
Katoro Gold (KAT), the strategic and precious minerals exploration and development company, is pleased to provide a business development update on the staking of the White Pine Uranium Project in Ontario, Canada through its 100% owned subsidiary Katoro Canada Inc. KAT said White Pine represents a notable first step into uranium exploration for Katoro at what the Board believes is an opportune time and in a world class jurisdiction. The significant uranium experience within the leadership team and the Company’s expanded network has enabled us to evaluate and move quickly on this opportunity.
Comment: Uranium is currently hot, a point witnessed by the recent rise in Neo Energy. Hopefully, the market will regard today’s news from KAT in a similar light.
Cizzle Biotechnology (CIZ), the UK based diagnostics company, announced that it has been selected by the Moffitt Cancer Center, the number one cancer hospital in Florida and the Southeast USA, to test patients with suspicious lung nodules in a clinical evaluation using the Company’s proprietary CIZ1B biomarker assay. CIZ said the collaboration with the Moffitt Cancer Center marks a major inflection point in the Company’s development, and delivery of its proprietary CIZ1B biomarker test to market, by enabling patients in a major cancer clinic with suspicious lung nodules to be tested for the presence of the biomarker.
Comment: CIZ continues to move forward its roll out strategy, with the US angle particularly pleasing. It is a shame the share price is still yet to reflect the best of this advance.
ValiRx (VAL) said it was pleased to welcome current shareholders and interested investors to a ValiRx Plc Investor Evening organised by Shard Capital Partners LLP on Tuesday, 24 September 2024. At the event, a presentation will be delivered by Dr Mark Eccleston, Chief Executive of the Company, followed by a Q&A session. Drinks will be provided. The event will take place at 25 Eccleston Place London SW1W 9NF, London and will start at 5.30pm (UK).
Comment: Dr Eccleston will need to deliver a “we shall fight them on the beaches” quality presentation to underline VAL’s potential turnaround prospects at the presentation. At least there are drinks on tap.
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