Hemogenyx Pharmaceuticals (HEMO) announced that it has submitted its Annual Report to the FDA under the active Investigational New Drug (IND) application for HG-CT-1, the Company’s proprietary CAR-T cell therapy for the treatment of relapsed or refractory acute myeloid leukemia (R/R AML). The annual report provides a comprehensive update on the Company’s activities under the IND during the first year of the clinical trial of HG-CT-1.
Comment: HEMO, the company which is apparently working on the cure for cancer, the common cold, and even baldness, perhaps does not get enough credit, or indeed, any credit for its strong links with the FDA.
Gem Resources (GEMR), the owner and operator of the Gravelotte Emerald Mine in South Africa, provided an operational update on progress at the Company’s flagship Gravelotte Emerald Mine in South Africa. Upgraded processing plant operating consistently at up to 100 tonnes per day. Hard rock mining commenced in late January 2025 with very encouraging emerald recoveries from newly exposed ore zone. Consistent production maintained in February and March.
Comment: It can be seen that GEMR is now very much in its stride as far as production is concerned, something one would have expected given the pedigree of Gravelotte. The proof of the pudding now is purely in the eating, or in this case, selling the product asap – and at a good price.
Currys (CURY) said that in the period since 4 January 2025, trading has been robust with continued positive like-for-like sales growth in the UK&I and the Nordics. With less than five weeks of the financial year remaining, Group adjusted profit before tax is now expected to be around £160m (compared to previous guidance of £145-155m). The Group expects to finish the year in a strong net cash position.
Comment: One’s initial reaction might be “who buys the stuff?” given the availability of Amazon. If the management of CURY is this good, perhaps it should buy WH Smith and bring back Woolworths?
Oracle Power (ORCP), an international project developer, is pleased to announce that following the results of the initial two drill holes released on 19 March 2025, it has received assay results from a further five reverse circulation (RC) drill holes, four of which are highlighted below, from the 11 hole 1,289 metre programme recently completed at the Northern Zone Intrusive Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia. ORCP said “These latest results complement the previous results, and those released since late 2023, as we increase the footprint of the gold mineralisation. The results continue to meet or exceed our expectations, revealing good tenor within the shallower oxide gold mineralisation at the top of the mineralised porphyry. We have a total of 1,756 samples in the lab awaiting assay from 36 drill holes to be reported in due as we continue to advance the Northern Zone project.”
Comment: ORCP has not delivered a fundraise since November. Now might be a good time.
Metals One (MET1), which is advancing strategic minerals projects in Finland and Norway, announced it has executed a Share Purchase Agreement in respect of the acquisition of the entire issued share capital of FinnAust Mining Finland Oy from 80 Mile Plc (AIM: 80M). Completion of the Transaction remains subject to various conditions as outlined in the announcement of 19 March 2025.
Comment: Bulls of MET1 have certainly stuck two fingers up to the market in recent week’s after the poorly received, but very clever fundraise that the company delivered in January. One would imagine that the share re-rate we have seen to date will continue to gather momentum.
Jubilee (JLP), a diversified metals processor in Africa, with copper operations in Zambia and chrome and PGM operations in South Africa, announced an update on the Large Waste Project transaction. Jubilee has secured the exclusive rights to the Large Waste Project (Project) for a reduced consideration of US$18 million (previously US$30 million). The Company has until mid-May 2025 to elect to acquire the assets and settle the approximately US$11.5 million dollars remaining of the consideration over a period of 12 months.
Comment: Given where shares of JLP are at the moment, it is worthwhile for JLP to pull as many levers as possible to turn this situation around. Perhaps a move into waste could be the way forward, especially at the right price.
Ariana Resources (AAU), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to announce that Western Tethyan Resources, has formally acquired 51% of the Slivova Gold Project in Kosovo. WTR is 76% owned by the Company. AAU said “With the current trajectory of the gold price, this is a project that has the capacity to be advanced quickly through to feasibility and financing. We are exploring various avenues to achieve this outcome.”
Comment: Shares of AAU are already down 31% so far this year, something which might reflect not only the company’s strategy, but also allowing itself to be promoted in the wrong way. To be in this state of affairs in the greatest gold bull run in history is quite an achievement.
Motorpoint Group (MOTR), the UK’s leading independent omnichannel vehicle retailer, provides an update on its trading performance for the fourth quarter and year ended 31 March 2025 ahead of announcing its Final Results in June 2025. Strong return to profitable growth. Full year retail volumes up c.14.0% on FY24. Strong outperformance of the used car market. In the 0-6 year category, for the 12 months to 31 December 2024, Motorpoint’s retail sales volumes grew 14.8% year on year, against 2.8% market growth. Group expects to report Earnings Before Interest and Tax and Profit Before Tax for the full year within the ranges of £13.3m to £13.6m (FY24: £(0.6)m), and £4.0m to £4.3m (FY24: £(10.4)m), respectively, representing significant improvement.
Comment: Given the economic situation one can understand that MOTR has entered a new purple patch. Given the dire state of the public transport system it is also understandable that people want to drive at 20mph than take their chances on trains and buses.
Switch Metals plc (SWT) Announced the expected completion of the acquisition of Switch Metals Côte d’Ivoire Sarl, a mining exploration company with assets in Côte d’Ivoire, as well as the completion of a £2.0 million fundraise and the admission of the Company’s ordinary shares to trading on the AIM market of the London Stock Exchange at 8.00 a.m. today (“Admission”) under the Company’s new name “Switch Metals Plc” and the TIDM code “SWT”.
Moonpig Group (MOON), the leading online greeting card and gifting platform in the UK and the Netherlands, today provides an update on its trading performance for the current financial year ending 30 April 2025. MOON said “We anticipate full year revenue will be between £350 million and £353 million, alongside a stronger than expected Adjusted EBITDA margin, which will be at the top end of our 25% to 27% guidance range, and double-digit percentage growth in Adjusted EPS. Revenue growth continues to be underpinned by strong sales at Moonpig, driven across our three core growth levers: customer base, order frequency and average order value. Greetz had a softer start to the second half of the year, but recent performance has been improving. At Experiences, we remain focused on delivering our transformation plan.”
Comment: Perhaps rather like MOTR, MOON has delivered a counterintuitively strong update, something which may suggest that either the cash strapped consumer is not as cash strapped as one would imagine, or merely trying to provide cheer in troubled times.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
