The Telegraph: Britain’s economy has ground to a halt as businesses and households tighten their belts ahead of Rachel Reeves’s tax-raising Budget. Economic growth flatlined at 0pc in July, down from 0.4pc in June, data from the Office for National Statistics (ONS) shows. The sluggish economic growth economy paints a grim picture for the Chancellor as she prepares for her autumn Budget on November 26.
Comment: Given the lay of the land for the economy to have flatlined is a result. Why most people get out of bed in the morning to go to work (this week’s Legoland inspired tube strike notwithstanding) remains a mystery. The private sector should go on strike.
(Alliance News) – The UK government is “absolutely committed” to its pledge to build 1.5 million new homes in England by 2029, the new Housing secretary has said. Steve Reed said the government was standing firm behind the vow, which was part of Labour’s pre-election manifesto, telling the BBC: “It’s what we’re going to do.” Reed told the broadcaster: “We’ll do it by working in partnership with the developers and with the builders.
Comment: As we know from Yes, Minister, being “absolutely committed” means that something will never happen, because it was a ridiculous claim in the first place.
ATOME (ATOM), the world-leading low-carbon fertiliser developer and the UK’s only dedicated international industrial scale low-carbon fertiliser company, announces the signing of the definitive minimum 10-year offtake agreement (“the Agreement”) with Yara International ASA for the sale by ATOME and purchase by Yara of the entire 260,000 tonne-per-year low-carbon fertiliser production, based on 100% renewable power, at the Villeta Project in Paraguay.
Comment: 2025 to date has been a combination of chronic loser companies finally getting over the line, and more dogs than Crufts having their day. ATOM is a happy combination of the above two phenomena.
Red Rock Resources (RRR), the natural resource exploration and development company with interests in gold, base metals, battery metals, and hydrocarbons principally in Africa and Australia announces the sale of the Company’s gold royalty in Colombia. Gold royalty over product of El Limon mine and mill sold back to mine owner Soma Gold Corp. Consideration of £1,000,000. Additional consideration of 200,000 share subscription rights exerciseable for 36 months into Soma shares at C$2 per share.
Comment: I would respectfully refer readers to the comments regarding Atome.
Roadside (ROAD) announced the proposed disposal of 100% of the Company’s Commercial Property business to Tarncourt Properties Limited for an agreed price of approximately £12 million, resulting in net consideration receivable of £4.7 million, after reflecting certain third-party borrowings and net working capital adjustments relating to the business. ROAD said “We believe the roadside retail assets have the potential to generate significant returns for Shareholders and Roadside continues to seek, and is currently evaluating, a number of opportunities to acquire further roadside retail assets to meet evolving consumer demands.”
Comment: Another decent tweak of the ROAD business, something which should be a reminder of the recent stellar share price run, as well as a driver for fresh gains. Above the 50 day moving average at 50p, a 65p target at a 2024 price channel top should be delivered before the end of next month.
Big Technologies (BIG), a leading provider of electronic monitoring solutions, today provides an update on further very serious matters that have come to light regarding the conduct of Sara Murray and persons associated with her. The Company has provided draft re-amended particulars of claim to the defendants in the ongoing proceedings against Sara Murray and others in the High Court, which include new claims and further particulars of wrongdoing against Sara Murray and others arising partly out of the New Developments. These strengthen the Company’s case against the defendants.
Comment: It is not usually a good idea to air one’s dirty laundry in public, especially if one is a public company, whatever the merits of the case.
Agronomics (ANIC), a leading company in the field of clean food, announced that its portfolio company, Clean Food Group Limited, has received approval for its CLEAN Oil™ 25 product to be used as a cosmetic ingredient in the United Kingdom, Europe, and the United States. This approval marks a significant milestone in the commercialization of CFG’s proprietary CLEAN OilCell™ technology platform, unlocking access to the high-value global personal care and cosmetics sector, which is projected by Modor Intelligence to grow to more than US$ 776.35 billion by 2030.
Comment: This is a massive win for both the environment and of course ANIC’s investment in CLEAN Oil™. Indeed, it may be the kind of breakthrough that really gets the company a proper re-rate, something which the market has been rather reticent in delivering, despite the progress across the portfolio.
Third Point Investors Limited (TPOS) announced that the acquisition of 100 per cent. of the equity interests in Malibu Life Reinsurance SPC from Malibu Life Holdings LLC completed today and that the admission of 21,426,808 Ordinary Shares to the ESCC Category and to trading on the Main Market for listed securities of the London Stock Exchange is expected today at 8.00 a.m.
Comment: A new main board deal today, that “no one” has heard of. It is always interesting to see how those involved in promoting such deals manage to keep them so close to their chests. There was not even the EPIC / TIDM code in the RNS, not helpful.
Conroy Gold and Natural Resources (CGNR), the gold exploration and development company focused on Ireland and Finland announced that it is undertaking a non-brokered private placement to raise gross proceeds of, in aggregate, up to £1.5m at a price of £0.10.
Comment: The company should be applauded for letting the share price run up before the premium raise. Hopefully on this occasion the cash will be used to take CGNR forward in a meaningful way.
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.
