RNS Hotlist with Zak Mir: AVCT, MTEC, PYX, PIRI, AST, DGI, TRCS, IGAS & OKYO via Vox Markets

Avacta Group plc (AIM: AVCT), a life sciences company, is holding a Science Day, focused on its Therapeutics Division, for institutional investors and analysts as stated in the announcement on the 19 December 2022. No material new information will be disclosed as part of this meeting.

Author @ZaksTradersCafe

Comment: Although the company has said no new material information will be disclosed, fans of the stock will of course be hoping that the odd titbit might emerge.

Made Tech Group (MTEC), a provider of digital, data and technology services to the UK public sector, announced its unaudited half year results for the six months ended 30 November 2022. This included strong organic revenue growth of 76% and adjusted EBITDA in line with management expectations. There was a record contracted backlog, providing strong revenue visibility over the remainder of the year and looking into FY24.

Comment: Shares of Made have nearly doubled so far this year, ahead of the latest announcement, which reminds us that in a time of economic woes, companies serving the public sector (gravy train) can continue to flourish.

PYX Resources (PYX) announced that it has received notification from the Central Kalimantan Provincial Government that after approval from the Energy and Mineral Resources Department of Central Kalimantan, PT TGN’s application for the renewal of the license for the Tisma tenement has been granted for the maximum authorised period of 10 years, after which the license can be renewed for additional periods. The renewal of the tenement license allows PT. Tisma Global Nusantara to continue to perform exploration and mining works in the tenement area. PYX said this is a key development, extending the term of the tenement license where the company operates, and thus enabling it to continue its critical exploration and mining activity, at a time when the mineral sands market is experiencing increased demand and consistent growth.

Comment: Bulls of PYX will be hoping that today’s approval news will finally turn around the share price, which has been drifting for the best part of a year. The company’s comment regarding a turnaround in the mineral sands market is helpful.

Pires Investments (PIRI), the investment company focused on next generation technology, announced that it has agreed to invest in a new venture capital fund, Sure Valley Ventures III Limited Partnership, alongside Enterprise Ireland which is the cornerstone investor. Pires’ has initially invested circa €54,000 in the SVV3 Fund. Pires expects to invest up to €5 million over the 10-year life of the SVV3 Fund, which would currently provide the Company with a 16.7% interest in the fund. Pires said the SVV1 Fund has completed its initial investment phase and has already achieved three liquidity events to date, comprising the sale of Artomatix, and listings of Engage XR and Smarttech247 Group, with additional events expected in due course. The SVV3 Fund is therefore very much a follow-on to the successful SVV1 Fund.

Comment: Pires makes a good point in reminding us that SVV1 was a decent winner in adverse stock market conditions, with the hope being that SVV3 can do as well or better.

Ascent Resources (AST), the energy and natural resources company, announced the signature of a Strategic Collaboration Agreement with Beryl International (Pty) Ltd, alongside agreeing a material equity investment by Beryl and the proposed appointment of a new Beryl nominated Non-Executive Director. Ascent said these changes are all part of its plan in anticipation of its first ESG metals transaction, which are expected to be transformational for the company, introducing a cash generative and low risk processing business alongside its existing very significant Slovenian damages claim.

Comment: Some might have thought that with the tsunami of cash that he company is set to win from Slovenia, Ascent might be content to sit on its laurels. This is not the case, with the company getting on the ESG metals bandwagon.

DG Innovate (DGI), the advanced research and development company, announced that the it has signed a Collaboration Framework Agreement with tier one commercial vehicle and off-highway axle suppliers, BRIST Axle System S.r.l. and BASE Studio Arge ve Teknoloji Sanayi A.S.. The Agreement reflects the desire of all three parties to collaborate, in order to establish a significant position in the growing heavy vehicle electric drivetrain market. A particular focus of the Agreement involves the electrification of Brist and BASE’s existing axle ranges, using DG Innovate’s electric drive motors and associated control systems. DG said it is delighted to have signed this collaboration with BRIST and BASE, which is intended to accelerate DG Innovate’s transition to becoming a full-scale commercial supplier.

Comment: There has been quite a buzz amongst investors that good / significant news was set to drop for DG Innovate. This looks to have been delivered today, and will hopefully move the dial as far as the share price, which has drifted since the company came to market last year.

Tracsis (TRCS), a provider of for the transport industries, provide a trading update for the six months ended 31 January 2023. Trading for the first half of the year has been in line with the Board’s expectations. Group revenue is expected to have increased to over £39m (H1 2022: £29.2m), with strong underlying growth in both Divisions. EBITDA is expected to have increased by more than 20% (H1 2022: £6.2m).

Comment: While industrial action in the transport industry may have blighted the country, it can be seen from Tracsis’s results that those providing the picks and shovels for the sector continue to flourish.

IGas (IGAS) issued a trading and operations update in advance of the company’s full-year 2022 results, which scheduled for release on 30 March 2023. The company said 2022 has been a year of change and refocus as it optimises existing onshore assets to better position itself for a lower carbon future. Commodity prices remained strong during the period with a resulting positive impact on income and cash generation from our underlying oil and gas assets, enabling us to halve our net debt to £6.1 million (2021: £12.2 million).

Comment: To halve its debt over a period which included the Government’s change of PM flip flop in policy is actually quite a result for Igas, a company which should be front and centre in terms of UK energy security, the green lobby nothwithstanding.

OKYO Pharma (OKYO), an ophthalmology-focused bio-pharmaceutical company developing OK-101 to treat dry eye disease, announced the appointment of Jay S. Pepose, M.D., Ph.D., Founder and Medical Director of the Pepose Vision Institute and Professor of Clinical Ophthalmology at Washington University School of Medicine, to OKYO’s Scientific Advisory Board. The company said that in this role Dr. Pepose will help guide OKYO’s clinical programs for OK-101 for the treatment of DED. The company anticipates opening its Phase 2 clinical trial of OK-101 to enrollment in the first quarter of 2023.

Comment: OKYO continues to make progress towards its Phase 2 clinical trial, with the new appointment flagging to the market that this key milestone is nigh.

Author @ZaksTradersCafe

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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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