RNS Hotlist with Zak Mir: AMC, PIRI, SUR, MYX, TENG, EDR, NCYT, IOG, PPC, LEX & N4P via Vox Markets

With its shares rising sharply against a falling market, shareholders of Russian Nickel play Amur Minerals (AMC) have been able to hold their head high against a falling market.

To add icing on the cake their stock had a decent mention in The Times market report, on “chatter” that the company could be in the eyes of a potential suitor valuing it at as much as £100m. This compares to a market cap at 2p of around a quarter of this number. Nickel is an essential in the EV revolution, with Elon Musk urging more production of the metal in the recent past for Tesla batteries.

Pires Investments (PIRI), the investment company, noted the announcement by NFT Investments plc (NFT), with regard to Pluto Digital, a company in which Pires holds an investment. Based on a 2.47p NFT share price and a price of 9.3 pence per Pluto share price in the wake of the NFT deal, this would value the Pires shareholding and vested warrants in Pluto at approximately £3.2 million, compared to the current Pires book value of its Pluto investment of circa £2 million. In the case of Riverfort (RGO), its shareholding in Pluto is valued at approximately £2 million, compared to the current RGO book value of its Pluto investment of £1.3 million. It will be interesting to see how these uplifts affect the share prices of PIRI and RGO.

Sureserve (SUR), the social housing energy services Group, announced its audited preliminary results for the year ended 30 September 2021. The company said 73% of FY22 revenue is covered by the order book worth £527.1m at the start of the financial year, providing good visibility of non-volatile revenue streams. Under the Group’s refreshed strategy, the business is well-positioned for further organic growth in a fragmented market, alongside earnings enhancing acquisitions. The Group’s momentum has continued with a strong start to trading in FY22.

MYCELX Technologies Corporation (MYX), the clean water and clean air technology company, said that it has successfully completed a trial in the United States of its PFAS remediation system which deploys its patented MYCELX technology. The results of the trial confirm the ability of MYCELX’s PFAS remediation system to reduce contamination to non-detect level in a single pass through the system.

Ten Lifestyle Group (TENG), a global concierge platform, said it has won a multi-year contract with a new corporate client, that is one of the UK’s largest wealth managers. The new contract will see Ten initially launch its services in spring 2022, making concierge and lifestyle services, including Ten’s proprietary digital platform, available to a segment of the client’s wealth management customers in the UK.

Egdon Resources (EDR) announced its intention to submit an appeal against the refusal of planning permission by Lincolnshire County Council on 1 November 2021, for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site, held under licence PEDL253. Egdon is operator and holds a 35.8% interest in the licence. The appeal documentation is currently in preparation and is expected to be submitted during Q1 2022.

Novacyt (NCYT), an international specialist in clinical diagnostics, announces an unaudited trading update for the year ended 31 December 2021. Reported revenues and EBITDA for the period are both expected to be in line with expectations. The Company intends to announce its 2021 audited full year results in the week commencing 25 April 2022. The company said that in 2021 it delivered a financial performance in line with expectations, excluding its ongoing dispute with the DHSC.

IOG (IOG), the UK gas and infrastructure operator, provided a further update on Phase 1 operations. The company said its focus is at Bacton onshore terminal, where it is reviewing the latest progress, which is now 93% complete. It is making every effort with the terminal operator Perenco to facilitate the fastest possible resolution. An expanded team is working days and nights aiming to be ready for back-gassing in mid-February, with First Gas expected approximately a week later.

President Energy (PPC), the international energy company, provided an update on its operations in Salta and Paraguay. The company said the new well DP-2001 at the Puesto Guardian, Salta, Argentina, has now been successfully tested with oil to surface from the two expected formation intervals that are also flowing in other parts of the Dos Puntitas field. The well will be placed on stream in approximately one week using the same jet pump as the other wells. In Paraguay PPC’s partners in the new exploration well to be drilled, OPIC Paraguay, the wholly owned subsidiary of the Taiwanese state owned energy company, CPC, have approved the budget and work programme for 2022, and accordingly initial cash calls have now been made to initialise the project.

Lexington Gold (LEX), the gold exploration and development company provided an operational update which includes information with respect to its latest ongoing 5,000m Reverse Circulation drilling programme. The company said it awaits the initial assay results for Carolina Belle from SGS. It is also “very excited” about the significant sulphide and alteration zones intersections at Loflin South to date and its potential for a significant southern extension to Loflin, such that it will be adding two additional holes to the programme.

N4 Pharma (N4P), the specialist pharmaceutical company developing Nuvec®, provided details of its work plan following the encouraging data from its oncology research as announced on 13 December 2021. The Board is “delighted” that the studies conducted with Nanomerics to evaluate the potential of Nuvec® as a nano-carrier of a DNA plasmid expressing TNFalpha, a cytokine with immune-modulating properties against tumours, demonstrated a significant inhibition of tumour growth derived from a human cell line. As a result of these positive findings, the company has commenced work with Medicines Discovery Catapult* to extend the observations to allow it to identify suitable loads to add to Nuvec® to take to clinic.

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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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