RNS Hotlist with Zak Mir, 22nd December 2021, PIRI, Pluto, FIRE, DEFI, SVML, BEN, MILA, GDR, ROCK, SNT, UFO & ORCP

There was one of the most eagerly awaited updates just ahead of the Christmas break.

By Zak Mir

Pires Investments (PIRI), the next generation technology investor, noted an update made by its investee company, Pluto Digital Assets. Pluto has recently acquired a strategic holding in the Play2Earn market, where peers are significant companies such as Axie Infinity (market cap of $6 billion) and Gala Games (market cap of $3 billion).

Pluto also expects to launch Non-fungible Tokens and tokens that will secure funding for the development of these games without requiring additional equity capital. Pires said that further developments outlined for YOP also position the company well for 2022 and it is confident that its investment in Pluto will continue to grow in value as the company implements its growth strategy. All of this could mean that Pires re-rates from its recent NAV valuation share price back towards the 10p plus zone.

Sticking with the tech area, and there was a rather chunky TR1 revelation at IamFire (FIRE), with Ellas Sand Limited in at 24%. IamFire, which is involved in social commerce via its WeShop app said that it has agreed to subscribe to £2m of an option to invest up to £4,500,000 in Convertible Loan Notes (CLNs) in WeShop. On 17 November 2021, FIRE announced that it had agreed an option to subscribe for up to £4,500,000 in to WeShop by way of CLNs.

While some companies are waiting for the tsunami of liquidity to arrive at Aquis, others are taking action directly. Dispersion Holdings (DEFI), an incubator specialising in decentralised finance (DeFi), said that it has submitted an initial application for the listing of its shares on the Neo Exchange Inc. in Canada. Dispersion said it believes that by listing on the NEO Exchange, it will gain access to an increased number of both retail and institutional investors in North America.

Sovereign Metals (SVML) said that it has successfully completed a bookbuild and secured commitments for gross proceeds of £1 million, following its recent listing on AIM. The net proceeds are to be used for further exploration activities in 2022 at Sovereign’s globally significant Kasiya Rutile Project.

Bens Creek (BEN), the owner of a metallurgical coal mine in North America, and one of the best performing IPOs of the year, announce its inaugural interim results for the period from incorporation on 11 August 2021 to 30 September 2021. The company said it is looking to ship coal from the mine and to start to fulfil its obligations under the recently signed offtake agreement in Q1 2022.

Mila Resources (MILA), the post-discovery gold exploration accelerator, revealed the receipt of positive assay results from the first phase of drilling at the Kathleen Valley Gold Project in Western Australia. The top of the mineralisation is only 150m vertically below surface, which is shallow compared to neighbouring gold deposits and WA in general.

genedrive plc (LSE: GDR), the near patient molecular diagnostics company, announces that, further to last month’s announcement confirming submission for CE-IVD certification for the Genedrive® COV19-ID Kit, expanded product validation requirements have now been completed and the company has filed for approval to sell the product in the United Kingdom.

Rockfire Resources (ROCK), the gold and base metal exploration company, updated on its diamond drilling programme at the Company’s 100%-owned Copperhead porphyry project in North Queensland, Australia. The company said This drillhole continues to build confidence in the potential for the discovery of a large-scale copper deposit. Although grade remains relatively low, the system continues to expand with each hole drilled.

Sabien Technology (SNT), which is focused on a Green Aggregation Strategy said that it has entered into an agreement with Parris Group Ltd, concerning the establishment and development of a Special Purpose Vehicle. The focus of the SPV will be to buy and develop a plastic recycling site in the UK.

Alien Metals (UFO), a minerals exploration and development company, said that it has entered into a Binding Heads of Agreement with ASX listed Artemis Resources to acquire its 70% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia.

Oracle Power (ORCP), the international natural resources project developer, updated relating to its gold exploration projects in Western Australia. The company said it is extremely eager to commence drilling at Jundee East, which will represent the first drill testing of the potential new greenstone belt discovered by the Oracle team following our acquisition of the licences last year. At the Northern Zone, it is expecting the assay results to be returned before the end of the month after a short delay at the laboratory.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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