(Alliance News) – The UK notched up a record government borrowing surplus in January thanks largely to self-assessed tax returns, according to official figures. The Office for National Statistics said there was a public sector net borrowing surplus of GBP15.44 billion last month. It is more than the surplus seen a year ago of GBP14.69 billion, and is the largest since monthly records began in 1993.
Comment: The government’s Labour 1974 style strategy, which was obviously such a winner 50 years ago that they did not reveal they were going to do it before being elected, is certainly that of an attempt at taxing the country to prosperity. Alas, there will never be enough money to go around as far as all its nefarious spending for prosperity.
Coinsilium Group (AQUIS: COIN), the Web3 investor, advisor, and venture builder provided an update on portfolio company Otomato Web3 Agent Protocol, a protocol that empowers users to create autonomous agents that seamlessly manage both on-chain and off-chain tasks with no coding required. COIN said, “The Otomato platform is already attracting strong interest from the DeFi and crypto investment community, as demonstrated by its first-place achievement in the highly competitive Proof of Pitch competition at NFT Paris, one of Europe’s premier crypto conferences, held on February 13-14. Stablecoins have also seen a significant surge in adoption over the past 12 months, with trading volumes reaching record levels across leading decentralised finance (DeFi) platforms.”
Comment: The market continues to underappreciate COIN’s Otomato investment, as perhaps it does with the whole of the company’s strategy, over and above the way that stablecoins have clearly come of age.
Poolbeg (POLB) announced that it was informed yesterday that HOOKIPA has terminated discussions on the proposed combination of the two companies. Cathal Friel, Executive Chairman of Poolbeg, said: “We were surprised and disappointed to hear of HOOKIPA’s decision to withdraw from the combination discussions. Throughout this process, we have seen strong interest in the potential of POLB 001 and we continue to be focused on maximising the potential of our in-house programmes and exploring new opportunities to generate value for our shareholders.”
Comment: The POLB / HOOKIPA discussions were a strange affair from the start, with the market not giving the credit, or the appropriate stock price reaction. Therefore, the end of the potential deal may actually be seen as a relief by some.
Guardian Metal Resources (GMET), a strategic mineral exploration and development company announced trenching results (Table 1) that confirm and extend high-grade gold (Au) mineralisation at the 100%-owned Golconda Summit Project located in the Walker Lane Mineral Belt in northern Nevada, USA. GMET said “The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised system at depth within the more favourable Lower Plate host rocks. Given the sustained strength in the gold price above US $2,900.”
Comment: Shares of GMET remain with the bulk of their massive gains over the past 18 months, despite the partial divestment in the stock by major shareholder Power Metal (POW), and due to the way that the company continues to make significant headway on the discovery front, as witnessed by today’s RNS.
Europa Metals (EUZ) said it has decided not to extend exclusivity over the Tynagh project via Viridian Metals Ireland Limited and the Company’s shares resumed trading on AIM on 17 February 2025. The Company is very aware that, since the resumption of trading on AIM, the share price has declined considerably, however the Company is not aware of any reason for this decline. To the contrary, the Company believes that there is a major disconnect between the Company’s share price and the implied net asset value represented largely through its holding in Denarius Metals Corp.
Comment: Although it is normally the case that the market tends to ignore RNS releases that bemoan a low share price. But rather pleasingly in the case of EUZ, so far today the stock has rebounded, and the market is at least partially correcting the valuation disconnect.
Zenith Energy (ZEN), the listed international energy production and development company, is pleased to announce that it has granted a total of 27,183,142 stock options to certain Directors and employees of the Company in accordance with the Company’s Stock Option Plan.
Comment: Given how imminent and significant the next arbitration news is for ZEN, it is not surprising that the company is getting everyone all optioned up beforehand.
Upland Resources Ltd. (UPL), the oil and gas exploration and development company, is pleased to announce the appointment of Dr. Razak Damit as a Non-Executive Director to the Board, effective immediately. Dr. Damit’s expertise has made him a sought-after technical advisor in the industry, contributing to projects with prominent institutions and governments. He has made a significant contribution to defining and unlocking some of the largest discoveries in the region.
Comment: Shares of UPL have already been squeezing higher, as if the market has been sniffing that significant positive news is on the way. The arrive of Dr Damit should only help boost this impression.
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.
