This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator.
Marula Mining (AQSE: MARU), an African focused mining and development company, announced that Peterhouse Capital Limited has been appointed as the Company’s sole corporate broker with immediate effect. The appointment is further to the announcement of 3 February 2023, as Marula works towards listing its ordinary shares on the AIM market of the London Stock Exchange.
Comment: We look forward to seeing how Jason Brewer and the team get on with the good folks at Peterhouse Capital, at what will be a key period for MARU.
Sabien Technology (SNT), the company focused on a green aggregation strategy, updated regarding its M2G business, Sabien Technology Ltd, which focuses on CO2 mitigation devices for commercial boilers. The company said it was very pleased to see further repeat orders from two of the Company’s key customers – the UK Government and CBRE. These continuing and growing commercial relationships demonstrate considerable validation of Sabien’s M2G Cloud Connect technology and its ability to deliver significant gas energy savings across their estates. Equally significantly, the Company’s first major order from a new channel partner, in similar settings, demonstrates a growing profile for Sabien’s approach.
Comment: £430,000 in the tin for Sabien is something to celebrate, although arguably it is the pedigree of the customers that is the real kicker here.
Invinity Energy Systems (IES), a manufacturer of utility-grade energy storage, announced a further sale in the UK to Dawsongroup plc and entry into a new European market through the initiation of a multi-party commercial partnership with Ideona Group and STS Group in Hungary. The company said its new partnership with Ideona and STS will help to establish Invinity as a leading provider of safe, durable longer-duration storage in Hungary. Its second sale to Dawsongroup further deepens its relationship with one of the UK’s foremost asset rental businesses and builds upon the tremendous demand we see for Invinity’s flow batteries to serve the UK commercial and industrial sector.
Comment: Shares of IES have needed a catalyst to turn them around for quite some time. The latest announcement could at least start the rehabilitation of the group, at least in valuation terms.
Physiomics (PYC), the consultancy using mathematical models, announced that it has been awarded a further contract by existing client Bicycle Therapeutics. The project relates to an undisclosed program and is expected to be completed in the company’s current financial year. The company said it has been working with Bicycle since 2019 and has been involved in various Bicycle programs spanning discovery through clinical development.
Comment: This is a timely announcement from Physiomics, given the recent sharp share price rebound for the stock. Ideally, the latest news will serve to consolidate the gains we have seen since the autumn.
Versarien (VRS), the advanced materials engineering group, announces that Neill Ricketts has resigned as CEO. The executive directors will continue to manage the company supported by the non-executive directors.
Comment: Versarien without Neil Ricketts is almost unthinkable, like The Beatles without Paul McCartney. One hopes that it has not been the battle the company has had with the bears which has caused the move.
Poolbeg (POLB), the infectious disease focused biopharmaceutical company, announces that in the wake of being a granted a patent by the US Patent and Trademark Office (USPTO) for methods of treating hypercytokinaemia using POLB 001, there is a new TR1, revealing that Michael Kelly was in at 3.63% back in January.
Comment: There has been a sea-change of sentiment towards Poolbeg this year, and the news of the stakebuilder today only serves to underline how the company is now on the front foot, both as far as the fundamentals and the share price.
Hummingbird (HUM) announced the closing of the Open Offer, and that it has received valid applications, in respect of a total of 7,920,997 new Ordinary Shares, totalling c.£617,046 (c.$734,579).
Comment: Now that the Open Offer is out of the way, one would assume that Hummingbird will get on with developing its sprawling set of assets, with its share price rebounding accordingly.
IXICO (IXI), the precision analytics company, announced that it has been selected by a biotech company and new client, to provide MRI imaging services for patient selection and efficacy analysis in patients with a rare form of dementia. The trial deploys an innovative gene therapy approach and is expected to last for just over four years.
Comment: The £0.7m contract win combines with the worthy cause the war on dementia is.
88 Energy (88E) reported that Nordic Calista’s Rig-2 commenced drilling of the Hickory-1 exploration well, located in Project Phoenix on the North Slope of Alaska, on the evening of the 9th of March 2023. The company said flow testing of the Hickory-1 well is planned to be undertaken during the 2023/24 winter season, subject to well results. This provides ample time post-drilling to optimise the flow test program, design, permitting and implementation.
Comment: 88 Energy seems keen to put the travails of last year behind it. The latest news gives the company a relative air of stability for the rest of 2023.
Cora Gold (CORA), the West African focused gold company, is pleased to provide an updated on the closing of the fundraising. The company said it is now in receipt of all consideration amounts, and can proceed to close the Fundraising, The funds raised will be primarily used to commence development of the company’s flagship Sanankoro Gold Project in southern Mali.
Comment: Nearly $20m in the bank for Sanankoro is very impressive, not only for a relatively small company, but in the current illiquid stock market environment. CEO Bert Monro’s achievement in this respect has not yet been fully appreciated.
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
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