EDX Medical Group (AQSE:EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announced that the Company is to launch a new highly accurate early detection test for testicular cancer.
The test, which will be launched in the UK within weeks, features exceptional sensitivity in a broad range of men across ethnicities and ages, and also detects cancer recurrences at ultra-high accuracy with 100% sensitivity following treatment and during ongoing surveillance of testicular cancer survivors.
Comment: EDX has been good at serving up cutting edge diagnostics for serious diseases, something which today’s announcement underlines. What the market will be waiting to see is how quickly it moves to monetise all this good work.
Catenai (CTAI), the AIM quoted provider of digital media and technology, announced that the Company has raised £750,000 at 0.15 pence. CTAI said it has entered into a non-legally binding term sheet with Alludium Ltd for an investment in Alludium Ltd (https://www.alludium.ai/) a software company which has developed a Multi-Agent AGI (Artificial General Intelligence) platform for AI automation of processes and solutions for productivity.
Comment: CTAI has wasted no time in getting on with the job after getting its Klarian money back, striking a deal in the AI space which is very much a la mode. The deal appears sweet enough to give CTAI a decent chance of a significant win.
Sunda Energy (SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announced that its subsidiary SundaGas Banda Unipessoal Lda has today submitted to the Timor-Leste regulator Autoridade Nacional do Petróleo drafts for public consultation of the Environmental Impact Statement and Environmental Management Plan for the drilling of the planned Chuditch-2 appraisal well on Timor-Leste Production Sharing Contract TL-SO-19-16.
Comment: The Sunda saga continues, and while it is making all the right noises, it would appear that the market will only be truly satisfied when all the paperwork / planning / red tape is in the rear view mirror.
Further to the announcement of 31 January 2025, Metals One (MET1), which is advancing strategic minerals projects in Finland and Norway, announced that all conditions in respect of the Equity Fundraise have been satisfied and the Equity Fundraise has completed. Together with the Retail Offer, the Equity Fundraise (including the CLN) has delivered net proceeds of £3.1 million, putting the Company in a strong financial position from which to advance its current copper and nickel projects and diversify its commodity base and footprint through opportunistic acquisitions that may include gold and defence minerals projects. Pursuant to the Equity Fundraise, the Company will issue the Investors with certificates for the Prepaid Warrants and the Cash Warrants which are exercisable at a fixed price of 2p per warrant subject to the terms set out in the 31 January 2025 announcement. The Cash Warrants are exercisable for a period of six months from the date of grant and, if exercised, would bring in up to £10 million in additional gross proceeds to the Company.
Comment: Although the fundraise had crackpot criticism at the time, the stock has managed 6x off the lows, and with over £3m in the kitty this has been transformational for the company. The prospect of an additional £10m should be very supportive going forward.
Ondo InsurTech (ONDO), a provider of claims prevention technology for home insurers, provided the following trading update for the year ended 31 March 2025. Registered customers of approximately 151,000 representing 59% year-on-year growth (2024: 95,468). Annualised contracted recurring revenue of £5.9m boosted by the deal with The Hanover Insurance Group, a top 20 US homeowner insurer with operations in multiple states.
Comment: While shares of ONDO had a stellar run going into 2025, and revenues look healthy given the US push, delays / growing pains suggest that there is still some work to do to get the stock through the 40p barrier.
Oracle Power (ORCP), an international project developer, is pleased to announce the assay results from the final four angled reverse circulation (RC) drill holes of an 11 hole, 1,289 metre programme recently completed at the Northern Zone Intrusive Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia. ORCP said “The results continue to complement previous drill programmes, and we continue to increase the footprint of the gold mineralisation, revealing good gold tenor within the shallower top of this considerable mineralised porphyry. We have a further 1,303 samples in the lab awaiting assay from 32 drill holes, that will continue the Company’s consistent and regular news releases, reporting gold results as we advance the Northern Zone Gold Project towards a maiden MRE.”
Comment: Although the latest firm news from Northern Zone makes one almost smell the next fundraise from the company, at least the share price has responded well, and leaves ORCP looking less fraught than it has for some time.
URU (URU) announced the completion of a high-resolution airborne geophysical survey over its Zebediela project area, conducted by Xcalibur Airborne Geophysics (Pty) Ltd. The survey incorporated both gravity and magnetic data, designed to enhance the understanding of the underlying geological structures of the Project. The airborne data, flown at no cost to the Company, has enabled URU to access a comprehensive dataset without diluting shareholder value.
Comment: There may have not been dilution of shareholder value, but the rug has been pulled from the share price in recent weeks, and the build bac on news like today’s make take some time.
Audioboom (BOOM), the podcast company, announced that, on 10 April, Michael Tobin OBE, non-executive Chairman of the Company, purchased 2,000 ordinary shares in the Company at a price of 335 pence per ordinary share. Following this purchase, Michael Tobin holds 878,840 ordinary shares in the Company, representing approximately 5.3 per cent. of the Company’s issued share capital.
Comment: While the share price has been something of a rollercoaster, and the metrics in terms of performance far from the unicorn level that its fans have been flagging, one has to give some credit to Mr Tobin for his persistent buying of the stock, and for this to get him through the significant 5% level.
Greatland Gold (GGP) updated in relation to the proposed cross-listing of the Greatland Gold group on the Australian Securities Exchange (ASX), (ASX Listing). In conjunction with the ASX Listing, and as previously announced, a corporate reorganisation is proposed which would result in Greatland Gold and its subsidiaries sitting under a new Australian-incorporated parent company, Greatland Resources Limited. The Reorganisation will be effected through a UK scheme of arrangement (UK Scheme) and is subject to Greatland Gold shareholder and UK Court approval. The Company will file documents with the UK Court today to start the UK Scheme process.
Comment: Given that the gold price is soaring, and after last month’s “outstanding” MRE, recent week’s have been like falling off a log for GGP. The latest moves towards the ASX cross listing amount to the icing on the cake.
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.
