EDX Medical Group (AQSE:EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announces that the board of the Company has approved the issue of 21, 428,571 new ordinary shares at a price of 14p to raise £3,000,000 for the Company.
The net proceeds of the Fundraising will support the acceleration of regulatory preparation and scaling up of production of a new prostate cancer ‘super test’, announced by the Company on February 17,2025.
Comment: The newsflow has certainly heated up at EDX, something which gives the company an opportunity to raise cash close to the market share price. Now that the money is in the bank, it is all about monetising the prostate cancer super test.
PetroTal Corp. (PTAL) reported its operating and financial results for the three months and year ended December 31, 2024. Generated EBITDA of $40.2 million ($22.86/bbl) and $237 million ($36.87/bbl) in Q4 2024 and FY 2024 respectively, near the high end of annual guidance ($200 to 240 million). PTAL said “PetroTal reported strong financial and operational results in 2024, increasing our production by an average of 25% over 2023, while returning more than $65 million to shareholders through dividends and share buybacks. The Company also successfully managed a period of record low river levels during the dry season, on our way to exceeding annual production guidance.”
Comment: Given that PTAL is something of a money making machine, it is perhaps surprising that the London market treats the stock as if nothing that special is going on. At worst, the company can be regarded as a steady performer.
Prospex Energy (PXEN), the AIM quoted investing company focused on European gas and power projects, announced that it has signed a binding agreement to become the sole shareholder of Tarba Energía S.L. by purchasing the entire shareholding that Warrego Energy Ltd holds in Tarba. PXEN said “In terms of prospective gas resources acquired in the El Romeral asset alone, the equivalent price of US$0.092/Boe is an excellent price by almost any measure. Prospex sees further upside in the concessions with further mapped structures to evaluate and drill once the first five wells have been permitted and drilled.”
Comment: PXEN moves to consolidate its Spanish footprint, something which makes sense from both an optical and practical perspective. It is a shame the shares remain marooned within recent ranges.
Wildcat (WCAT) announced that it has signed a Collaboration Agreement with The Strategic Fuel Fund Association, an organisation owned by the State of South Africa. The Agreement focuses on evaluating the petroleum assets in South Sudan previously held by PETRONAS. Leveraging the expertise and contacts of both parties in the South Sudanese oil sector, Wildcat and SFF have agreed to work together to evaluate the petroleum assets previously held by PETRONAS and explore potential scenarios for acquiring all or parts of the assets.
Comment: One of the keys to success for small caps is to have the ability to pull rabbits out of hats. The deal with SFF certainly fits the bill in this respect, especially in terms of giving WCAT muscle in South Sudan to get things over the line.
Mast Energy Developments (MAST) announced updates regarding its Growth Capital Partnership with Powertree, and the outcome of the recent Capacity Market auctions. MAST said “The new Growth Capital Partnership with Powertree will complement the Project Finance Framework Agreement recently entered into with RiverFort. The combined support of RiverFort and Powertree, will bolster and fast-track MED’s strategy to build a portfolio of 300+ MWs.”
Comment: Shares of MAST have been basing out for much of the past year, as if waiting for the kind of substantive deal announced today. It actually looks as though the company has achieved something.
Zenith Energy (ZEN), the listed international energy production and development company, announced that its CEO & President, Mr. Andrea Cattaneo, has purchased a total of 300,000 shares at a total average price of £0.0798. Following the aforementioned dealings, Mr. Cattaneo is directly beneficially interested in a total of 10.67 per cent of the Company.
Comment: Just in case one needed a reminder that the prospects for a big win at ZEN vs Tunisia is on its way, we have the CEO adding to his already significant holding in the stock. He could be a rather rich many in the near future.
GenIP (GNIP), a technology business providing Generative Artificial Intelligence (GenAI) services to help research organisations and corporations commercialise their innovations, is pleased to announce it has secured a significant contract worth $0.35m with a new client, a research organisation in Saudi Arabia. The contract commences immediately and covers the delivery of 400 GenAI-enhanced analytical assessments and additional technology commercialisation consulting services.
Comment: Although not the biggest contract in town, this is a decent win, and underlines the positive prospects for the company, as well as neutralising some of the more crackpot /negative commentary that it has managed to acquire from certain quarters.
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.
