Acuity (ACRM), the software group focused on cybersecurity announced a fundraising, comprising a Placing, Subscription and a Directors’ Intended Subscription to raise approximately £0.5 million. The net proceeds of the Fundraising will be used to fund investment in sales and marketing, further product development and to provide additional working capital.
Comment: Incidents such as the M&S and Co-op hacks might suggest to some that companies prefer to lose billions than spend cash on cybersecurity. In the meantime we await ACRM’s breakthrough with its offering. Obviously, great that the directors participated.
Adriatic Metals (ADT1) announced that ahead of the sell-side analyst and investor site visit to the Vares Silver Operation, an updated investor presentation has been published at: https://www.adriaticmetals.com/investors/presentations/
Comment: One hears that Bosnia is beautiful at this time of year, and one assumes that the invite is in the post.
Time To ACT (AQSE: TTA), an engineering-led group focused on technology for the energy transition supply chain, is pleased to announce the successful result of the Subscription announced on 15 May 2025. The Company has raised £274,000 through the issue of 685,000 New Ordinary Shares, at a price of 40p per share. TTA said: “We are very pleased to welcome our first AIM VCT investor onto our register at this highly attractive price level. We look forward to delivering value for our new and existing shareholders.”
Comment: Raising any amount of cash on Aquis is always to be congratulated, and especially for one of the few companies on the exchange that could be a genuine, scalable growth situation.
Greatland Gold (GGP) announced that it has cancelled an aggregate of 327,700,000 options over ordinary shares in the Company (Ordinary Shares) held by certain Directors and persons discharging managerial responsibility (PDMRs) and a further 170,000,000 options over Ordinary Shares held by a number of other senior employees, in each case for a consideration of 6.64 pence per option.
Comment: While cancelling these options may not be a big deal in the scheme of things for GGP, the optics always help, and should bolster sentiment if not the share price.
Pantheon Resources (PANR), an oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska’s North Slope, announced further progress from the Megrez-1 flow testing programme and guidance on the timing of future activities.
Comment: PANR is clearly looking to regroup after the pie in the face duster delivered last month. Just laying low for a while might have been the best strategy here, as the share price has started to recover.
Pensana (PRE) announced that following FSDEA’s deployment of US$25 million mine finance main construction activities have begun on site. The project team, under the leadership of Project Director Kevin Botha, a South African project management professional with over 45 years’ experience has initiated the key procurement and engineering contracts. Engineering service providers, Pro-Process and ADP (Lycopodium RSA) have been formally appointed and have commenced activities.
Comment: It would appear that PRE is finally on its way, after a rather extended gestation period, something which at various times appeared to be touch and go. Above 40p the technical target could be 50p by the end of June.
Mendell Helium (AQSE:MDH) announced the successful completion of operations to re-enter M3 Helium Corporation’s Brobee salt water disposal well. The Rost 1-26 well recompletion project remains on schedule and within M3 Helium’s budget.
Comment: While we are not quite in a “hare and the tortoise” situation, MDH does seem to be moving as fast or even faster than many of the other helium plays that London investors may be looking at.
GreenX Metals (GRX) advised that an airborne geophysical survey at the Tannenberg Copper Project (Tannenberg or Project) will be flown in the coming weeks. The airborne survey is fully permitted and will collect magnetic and radiometric data over the Project area with results expected to identify important deposit-scale faults as well as the extent of historical underground workings to be used to plan for future exploration programs. GRX has also completed a bookbuild and secured firm commitments for a placement of 7.1 million new ordinary shares at a price of A$0.65 (£0.315) per share (New Shares) to raise gross proceeds of approximately A$4.6 million.
Comment: While the company waits for a rather large amount of cash to hit its bank account, it is evident that it is getting on with business as usual in terms of developing its existing portfolio, hence a fresh fundraise.
Savannah Energy (SAVE), the British independent energy company, announced a Q1 2025 trading update. All figures are unaudited. highlighting good progress in our core objectives for the year, including a 19% increase in Total Revenues1, and a continued strong trend in cash collections with almost US$125 million received in the quarter.
Comment: While the metrics may have improved for SAVE, so far the market is going with the sinking feeling which has dominated proceedings since the shares came back from suspension in March. One wonders why that would be?
Metals Exploration (MTL) announced its Final Results for the Year Ended 31 December 2024. Operational profit was US$53.5 million (FY2023: US$29.2 million) following gold production for FY2024 of 83,897 ounces, slightly lower than FY2023’s record production of 85,194 ounces, notwithstanding a lower head grade of 1.34 g/t compared to 1.42 g/t in FY2023.
Comment: Obviously one would have expected the performance at MTL to be sizzling in current market conditions, and this has proved to be the case. The acquisition of Condor Gold underlines the way that the company is mindful of sustaining this solid performance.
Kodal Minerals (KOD), the mineral exploration and development company, notes the recent media commentary, which incorrectly speculated the blocking of exports of spodumene concentrates produced at the Company’s flagship Bougouni Lithium Project in Southern Mali. Discussions with the Government of Mali on finalising the export permit for spodumene concentrate produced at Bougouni are continuing as planned and it is expected the permit will be received in the near future. A further announcement will be made once it is received.
Comment: The “media commentary” certainly has not helped the KOD share price so far this month, with the risk that saying that the permit will be received in the “near future” leaves a vacuum in which weak hands decide to run for the door.
Diageo (DGE) issued a fiscal 25 Q3 trading statement. The company said it achieved Strong Q3 organic net sales growth. Is on track for full year with sequential improvement in H2. Reported net sales for the third quarter increased by 2.9% to $4.4bn, with positive organic growth partially offset by unfavourable foreign exchange and disposals. Don’t mention the tariffs.
Comment: Although the performance of the group has been fine and dandy, especially considering headwinds, what would really have turned the share price around would have been the sale of Diageo for say, $10bn. Reports last week that DGE is selling some of its Italian assets are somewhat less exciting.
Panthera Resources (PAT), with gold assets in West Africa and India, announced that it has filed a claim for damages amounting to US$1.58 billion, net of Indian taxes.
Comment: The fully funded claim should of course be a slam dunk for PAT. It just depends on whether the Indian authorities see it that way, after doing what so many developing countries do, confiscating assets that look juicy after someone from a developed country develops them.
Vinanz Limited (BTC); the London Stock Exchange Main Market-listed Bitcoin treasury company with active mining operations across the United States and Canada, is pleased to announce the purchase of 16.9 Bitcoins as part of its growing Bitcoin treasury strategy. Number of Bitcoins Purchased: 16.9. Average Purchase Price per Bitcoin: US$103,341 (including fees). Total Amount of the Purchase: US$1,748,000.
Comment: While Bitcoin Treasury is all the rage these days, as some kind of perpetual money machine, some might say that attempting to buy BTC on dips is the way forward to lasting success in this strategy.
Cora Gold (CORA), the West African focused gold company, announced its final audited results for the year ended 31 December 2024. CORA said “”We have worked hard this past year to build the resource and, in turn, the life of mine potential at Sanankoro, which will feed into an updated DFS due later this year. This is expected to confirm significant improvements in the Project’s already robust economics.”
Comment: Shares of CORA are already up 200% so far this year, and in the run up to the updated DFS later this year, and will gold well over $3,000, one should expect yet more upside.
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.
