Yesterday afternoon, Coinsilium Group (COIN), the Web3 investor, advisor, and venture builder announced that it has raised GBP 1.25 million gross at a price of 3 pence.
The net proceeds of the Placing will be deployed to further the development of Forza (Gibraltar) Limited, the Company’s wholly-owned vehicle dedicated to Bitcoin-based treasury activities, to fund further investments and general working capital. The Company also intends to launch a retail offer to new and existing shareholders on the same terms as the Placing.
Comment: With the crypto space on the front foot again, and bitcoin treasury all the rage, it certainly is the time for COIN to raise cash to finesse its place on this particular bandwagon.
Also yesterday afternoon, Ajax (AJAX), the UK listed special purpose acquisition company with a focus on natural resources announced that it has formalised a conditional option (the “Acquisition”) to acquire Minas La Escondida (“La Escondida” or the “Project”), a mining project located in the Province of Jujuy, Argentina from a local investor.
Comment: AJAX adds to its humdinger of a deal delivered earlier this month as far as Eureka is concerned, with the latest Argentinian move, something that takes the mining SPAC on its way as far as being a company with a decent platform of assets to move forward.
Yesterday afternoon Valereum (AQSE: VLRM) announced that VLRM Markets is embarking on an evolutionary journey with the official launch of its RWA Platform later this month. VLRM said that “As a licensed and regulated Digital Asset Service Provider in El Salvador, we are initially prioritising the country’s Sports, Lifestyle, Leisure & Hospitality vertical.”
Comment: Although El Salvador may not be the most intuitive location to get started with its new vertical, there is everything to play for as far as VLRM is concerned to build back its share price.
Alba Mineral Resources (ALBA) provided an operational update in respect of the Company’s 100% owned Clogau-St David’s Gold Mine in north Wales and its farm-in high-grade REE and gold prospect, Finnsbo, in Sweden. ALBA said “We are very pleased to be close to finalising our revised work plan for the next phase of blasting at Clogau. Our recent gold sales, which achieved 8.5x the spot price of gold, have given us great confidence as we move into the next stage of underground exploration and development.”
Comment: Shares of ALBA had a decent spike last month, off the back of well received coin sales. It remains to be seen whether the market can muster such enthusiasm in the wake of new work at Clogau.
Land Sec. Group (LAND) announced its Final Results. LAND said “”Our portfolio again delivered very strong performance with like-for-like net rental income growth of 5.0%, supporting growth in both earnings and portfolio valuation over the year. Owning the right real estate has never been more important and, with a very healthy pipeline of occupier demand, this trend looks set to continue, providing a clear trajectory for further near and medium-term EPS growth.”
Comment: There was a time not so long ago when even Coco The Clown could make money from real estate. Despite LAND’s swing to profit, it is clear that conditions are no longer so favourable.
eEnergy (EAAS), the net zero energy services provider, announced it has entered into a partnership with Redaptive Inc., the US based Energy-as-a-Service and data solutions provider. Redaptive will provide funding of up to £100m to support Redaptive-approved eEnergy customer projects across all client sectors in the UK, with eEnergy undertaking operational oversight of such projects and bearing responsibility for all warranty and service-related contractual obligations. The partnership establishes eEnergy as one of Redaptive’s dedicated delivery partners for Redaptive-initiated projects in the UK.
Comment: We have a transformational announcement from EAAS, something which should mark a turning point for the company not only in terms of its financial firepower, but expanding its footprint. The shares have already responded in kind.
Staffline (STAF), the recruitment group, is pleased to announce it has secured a significant strategic partnership with one of the UK’s leading food and drink supply chain management and logistics providers covering the whole of the UK and Ireland. This new partnership comprises an initial two-year agreement with a one-year extension option to outsource to Staffline 100% of the agency labour services.
Comment: Given the early 2025 dip for the stock, STAF’s latest announcement comes t the right time for the market to notice it gathering fresh fundamental moment. This is also the kind of deal which should trigger further collaborative interest.
Neo Energy (NEO), the near term, low-cost uranium developer, is pleased to announce the appointment of Mr. Theo Botoulas as its new CEO and Executive Director of the Board, effective immediately. NEO said, “The asset base of Neo Energy has a substantial mix of very near-term and well-balanced future production assets. Having been operational at the Oryx/ Beisa Mine (now Beatrix 4 Shaft) during my early career, the experience will facilitate rapid reopening of the underground operations. I look forward to assembling a world class team of professionals in order to deliver the stated Neo Energy mission, which is to become an established, safe and profitable uranium production company with multiple uranium mining operations across Africa”.
Comment: It would appear that NEO is getting its ducks in a row, and once all the paperwork is done, we should see a decent re-listing and market reaction for the company.
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.
