This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator.
Fox Marble (FOX), the dimension stone company, announced that, further to the announcement of 28 April 2023, the Admission Document states that Admission was expected to become effective and that dealings in the Enlarged Issued Share Capital would commence on AIM on or around 30 May 2023. The company advises that the date of Admission will now be 2 June 2023.
Comment: The slight delay on the date of admission allows more time for fans of the company to engage in further “Foxonomics” regarding share price targets and potential litigation payouts.
Artemis Resources (ARV), a Perth, Australia based exploration and development company, announced that a Geological Review has confirmed a gold mineralised Intrusion at Lulu Creek. The company said it has a new understanding of the importance of intrusion related gold in the Pilbara, including the identification of Sanukitoid like intrusions by the GSWA in the vicinity of the Karratha Granodiorite, some 2.5 km from Lulu Creek. The significance of the historic gold mineralisation therefore becomes apparent. With the Lulu Creek reconnaissance drill holes displaying similar grade and scale to De Grey’s Diucon deposits, the potential upside for Lulu Creek is appreciable.
Comment: Shares of Artemis have gone somewhat off the radar in the recent past, perhaps not having a PR company is a factor? Nevertheless, the newsflow speaks for itself, especially the latest regarding Lulu Creek. Near term resistance for the shares is currently at the 50 day moving average at 0.8p – the level to beat.
Sareum Holdings (SAR), a clinical-stage biotechnology company, announced the initiation of a Phase 1a clinical trial for its lead product SDC-1801. The trial has started with patient recruitment in progress at specialist clinical units located in Victoria, Australia. The company said this follows the recent approval of the Company’s application under the Clinical Trial Notification scheme by the Human Research Ethics Committee, Australia’s medicines regulator. The Therapeutic Goods Administration, has also acknowledged the application, allowing for the Phase 1a trial to proceed.
Comment: Shares of Sareum have actually doubled since the December low, so the newsflow here is being appreciated. Therefore, today’s initiation of a Phase 1a clinical trial should maintain the stock’s momentum.
Trident Royalties (TRR), the diversified mining royalty company, noted recent updates on the Thacker Pass lithium project, in Nevada, by the Project operator, Lithium Americas Corp. and by the United States Department of the Interior. The company said it is encouraging to see tangible progress being made by the US Government to provide permitting clarity for mine developers, and the references to Thacker Pass reinforce its strategic importance to the United States. The BLM record update, which the US DOI confirms is consistent with the new Opinion, is a key deliverable following the February 2023 ruling and provides even further clarity on Thacker Pass’ pathway to production, for which LAC is targeting H2 2026.
Comment: Trident has proved its royalty model since coming to market, a point we are reminded of with today’s news, as the US Government moves to ensure security with reference to critical metals.
ImmuPharma (IMM), the specialist drug discovery and development company, announced further positive progress in its late-stage clinical program in patients with chronic idiopathic demyelinating polyneuropathy, which is a further debilitating auto-immune condition within the Company’s P140 platform. The company said it was delighted to have received this positive support and guidance from the FDA on our pre-IND application for CIDP. As it now moves forward to a full IND application this program remains on track to commence its Phase 2/3 adaptive clinical trial in H2 2023. Its P140 technology platform provides the basis for both our Lupus and CIDP programs, it looks forward to also commencing the Lupus Phase 2/3 clinical trial in H2 2023.
Comment: Shares of IMM have recovered well since December, as it moves forward in the clinical trial cycle. The key will be to break near term 3.5p share price resistance in coming weeks.
Nuformix (NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, updated regarding the company’s NXP002 programme, a proprietary new form of tranilast, being developed as a novel inhaled treatment for Idiopathic Pulmonary Fibrosis. The company said it was absolutely delighted with the data generated over recent months – and are the first results from advanced ‘close to patient’ IPF and inflammation human tissue disease models. The inflammation data was perhaps expected given past results but provides further support of NXP002’s potential to deliver increased performance on top of existing standards of care. However, the positive duration of action data is a first for the NXP002 programme and allows the company to discharge one of the programme’s last remaining development risks that has not previously been addressed.
Comment: We appear to have a newly invigorated NFX, with the prospect of the company de-risking itself could provide a turnaround boost for the shares, especially if the newsflow momentum continues.
Keras Resources (KRS) announced that it has agreed with the Republic of Togo on 17 May 2023 on a way forward for the Nayéga Manganese project in Northern Togo. The company said the upfront Cash Payment due on 17 July 2023 and ongoing cashflows associated with this agreement underpins the already robust Diamond Creek mine economics which Keras will continue to develop into the premier organic phosphate producer in the US.
Comment: Any stock exposed to the US moves to achieve critical metals security should flourish over the near future, with Keras’s Diamond Creek right in the box seat in this respect.
United Oil & Gas (UOG), the full cycle oil and gas company, provided an update on the conditional sale of the UK Central North Sea Licence P2519 containing the Maria discovery in Block 15/18 to Quattro Energy Limited following the signing of a binding asset purchase agreement on 17th January 2023. UOG said it continues to believe that the sale to Quattro on the current agreed terms remains the best option for United to realise value for its shareholders.
Comment: Realising value for shareholders is certainly the mission for UOG, given the way that the company continues to be undervalued in terms of what it has been achieving operationally.
Cornish Metals (CUSN) provided an update on progress at the South Crofty Tin Project, located in Cornwall, SW England. The company said the team in Cornwall has made great progress over the last five months, despite adverse weather conditions. It is exciting to see the water treatment plant approach completion and it is now turning its attention to the commissioning and commencement of mine dewatering activities this summer. Further news on the metallurgical drill and testwork programme and ongoing Feasibility Study will be issued shortly.
Comment: It will probably have to be the forthcoming news in terms of the Feasibility Study which provides the trigger for any share price rebound at Cornish, the weather report in the RNS notwithstanding.
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.
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