Jubilee Metals Group (JLP), a diversified metals processing group, announced its six-month operations update for the period ending 31 December 2022 (H1 FY2023) and an update to its Zambian copper and cobalt strategy. The company said It has been a challenging period during which it has overcome infrastructural related challenges in both of it operating jurisdictions.
Comment: Given that according to Sharepad, pre-tax profit for JLP is forecast to triple versus 2022, it may be the case that the company has been rather too forthcoming regarding its operational issues, and not forthcoming enough in terms of emphasising how it is throwing off cash.
Helium One Global (HE1), the primary helium explorer in Tanzania, announced that at today’s AGM, Lorna Blaisse, the company’s new Chief Executive Officer, will give an update presentation to the meeting. The company has updated the operational outlook using information which is current as at today’s date, based on ongoing negotiations with rig providers. This outlook indicates a planned drilling programme at Rukwa commencing in Q3 of this year.
Comment: Presumably many shareholders are still raw following the recent departure of the former CEO, it is pleasing to see the new one ready to step up to the plate so soon. This is a good opportunity to under promise in order to over deliver, especially on timelines.
Hydrogen Utopia International (HUI), a company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, announced that trading in its shares on the AQSE Main Market ceased at 4:30 p.m. yesterday, 14 February 2023. Trading in the Ordinary Shares will continue on the London Stock Exchange, the Open Market of the Frankfurt Stock Exchange and the OTCQB.
Comment: Although of course, it is difficult to work out why any company would chose to leave AQSE, on this occasion we are reminded that following its listing on Aquis last year the company’s share price / market cap did reach the (ridiculously) newly raised market cap required to list on the Standard List of the London Stock Exchange. Quite an achievement.
CleanTech Lithium (CTL), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, announced that its shares have been approved to trade on the OTCQB Venture Market in the United States of America and will commence trading at the market open today under the ticker CTLHF. CleanTech Lithium has also engaged Harbor Access, based near New York, to provide Investor Relations support to help optimise the Company’s trading position in the U.S.
Comment: If U.S. investors are like UK investors, CTL will not need much in the way of IR help, given the way that the shares have soared in recent weeks.
Nuformix (NFX), a pharmaceutical development company, 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 has had to wait a little longer than expected to acquire suitable tissue, but is delighted that the main element of this key study, further evaluating NXP002 combination therapies is now underway.
Comment: Nuformix is one of those companies on the stock market which might be helped by something of a bluffer’s guide as to what the milestones actually mean, and what the ultimate destination might be and when. This is said as much on the basis of the current rather modest market cap of £2.1m as anything else.
Castillo Copper (CCZ), a base metal explorer, said it was delighted with the latest assays results for the Tors Tank and Fence Gossan Prospects, as collectively they materially increase confidence in the shallow, clay-hosted, Rare Earth Element discovery across the central part of the BHA Project’s East Zone. The company was particularly pleased with the diamond core assay at Tors Tank and exceptional MREO value, as it increases confidence in the underlying REE system. In addition, the hand auger surface sampling campaign is proving to be a “treasure trove” of insights, with several new targets now on the radar.
Comment: CCZ has continued to serve up decent news in the recent past, without investors so far appearing to be too keen to join the party. It will be interesting to see whether they are inspired by the “treasure trove” over insights unveiled today.
Technology Minerals (TM1), the company focused on battery metals, announced that its 49% owned battery recycling business, Recyclus Group Ltd, has been provided with a Schedule 5 Notice by the Environment Agency for its variation of environmental licence application for its Lithium-ion recycling plant in Wolverhampton, West Midlands. The company said upon receipt of the licence, for the first time, the UK will have an industrial scale recycling capability for lithium-ion batteries. Over the past few months, interest in its plant has increased significantly and we are in advanced discussions with companies and organisations from UK and across the globe.
Comment: Despite, or perhaps even because this is a well followed stock, the company still has not been able to highlight the merits of its circular economy / battery metals model. Perhaps the latest news regarding UK having an industrial scale recycling capability for lithium-ion batteries will move the dial.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provide initial fourth quarter 2022 and full-year 2022 results related to hydrocarbon production and cashflows from its non-operated asset portfolio in the Williston Basin, North Dakota, U.S. The company said it comfortably exceeded its initial FY 2022 revenue guidance, and production was within the upper end of the forecast range. Cash flows generated from these operations have been reinvested back into both its operated and non-operated asset portfolios, and it expect continued growth in 2023. It fully expects this years’ Williston project production to exceed last years’ once again.
Comment: Today’s update is apparently so comprehensively upbeat, it underlines that all that is missing from Zephyr is the resumption of the big bull run of 2021, from 1p to 7p.
CAP-XX (CPX), which is focused on the design and manufacture of supercapacitors and energy management systems, announced the launch of its DMV750 ultra-thin 2.2mm prismatic 3V supercapacitor to provide high performance for IoT, medical and other space-constrained and mission-critical electronic devices. The company said this new ultra-thin prismatic 3V supercapacitor, can advance electronics sustainability by enabling micro energy harvesting applications and eliminating batteries or can complement the ubiquitous 3V coin cell batteries, thereby dramatically extending the battery life and functionality of the coin cell.
Comment: Shares of CPX have declined from 13p to 3p over the past couple of years. It is to be hoped that the new ultra-thin prismatic 3V supercapacitor may be enough to turn the tide.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
