RNS Hotlist with Zak Mir: PHE, HUM, JAY, BEM, CGNR, TRT, SDG, SEE & UPL via Vox Markets

Powerhouse Energy (PHE), a company converting non-recyclable waste into low carbon energy, announced that it has entered into a Framework Services Agreement with Petrofac Facilities Management Limited, a subsidiary of Petrofac.

Author @ZaksTradersCafe

Under the agreement the Petrofac will provide engineering design and supply chain development services on PHE’s pipeline of projects, including the Plastics to Hydrogen project at Protos.

Comment: Rather than flagging good news / positive developments, doing what PHE has done today in pulling a rabbit out of the hat with the Petrofac announcement, can be what the market needs to really appreciate a company, and mark up the share price accordingly. Certainly a blue chip name like Petrofac, gives PHE’s strategy and technology a decent thumbs up.

Hummingbird (HUM) confirmed an additional conditional subscription of c. $1.4 million (c.£1.2 million) from certain existing institutional shareholders, and that it is also providing other shareholders in the company with the opportunity to subscribe for new ordinary shares at the same price as CIG and the Subscribers through an open offer to raise up to c.$2.4 million (£2 million). An interview with senior management on this release and the outlook for the company will be released soon via VOX markets and also made available on the company’s website. The company said it was delighted to welcome CIG as a key strategic investor. CIG’s investment endorses the company’s strategy for growth with a strategic partner to underpin that ambition – both in the West African region and beyond.

Comment: It is usually the case in such situations that it is not necessarily the quantum of the investment, but the validation of a third party that helps with regard to the latest CIG strategic investor announcement. Certainly, one would now expect the recovery in HUM shares since the autumn to continue.

Bluejay Mining (JAY), the exploration and development company with projects in Greenland and Finland, announced an update at the company’s 100% owned Kangerluarsuk Lead-Zinc-Silver Project. Bluejay said it was pleased to be able to share a technical presentation on Kangerluarsuk, illustrating the vast wealth of geological, geophysical and geochemical data which has been collected over the Project by Bluejay and by previous operators and government-funded programmes.

Beowulf (BEM), the mineral exploration and development company, publishes an update from its wholly owned subsidiary Jokkmokk Iron Mines AB on the progress at the Kallak Iron Ore Project. The company said Jokkmokk Iron, under the leadership of Ulla Sandborgh, continues to make significant progress, not least in terms of the initiatives to engage with the community in Jokkmokk as well as other important stakeholders.

Conroy Gold and Natural Resources (CGNR), the gold exploration and development company, announced the discovery of a new area of gold mineralisation in the Longford-Down Massif in Ireland. Visible (native) gold is present. Quartz breccia samples returned assay results of up to 123.0 g/t gold. The company said this new discovery is potentially a transformational event for gold exploration and development in this very large gold district, which has the potential to be a Tier 1 gold area.

Comment: It would probably be the case that if / when investors believed that CGNR was sitting on a Tier 1 gold area, the shares would be rather nearer to the highs of last year near 40p. Perhaps it should be said that even if not Tier 1 the company has done enough to prove a higher rating than it currently sports.

Transense Technologies (TRT), the developer of specialist sensor systems, reported its unaudited Interim Results for the six months ended 31 December 2022. The company said it has continued to deliver robust growth in revenues and profitability in line with the Board’s expectations, and reported further strengthening in current trading and a positive outlook. Revenue increased by 37% to £1.64m (FY22 H1: £1.20m). EBITDA up 80% to £0.36m (FY22 H1: £0.20m). Profit before taxation was up threefold to £0.26m (FY22 H1: £0.08m).

Comment: For any company to blow the lights out in terms of revenue and the other key metrics in the current economic environment is quite an achievement, especially in the SME space. We look forward to PBT getting into 7 figures as soon as possible.

Sanderson Design Group (SDG), the interior design and furnishings group, announced a major licensing agreement for its Clarke & Clarke brand in which NEXT will hold a master agreement giving exclusive rights to produce a very broad range of Clarke & Clarke homeware products including bedding, towelling, tableware, furniture and lighting. The company said Clarke & Clarke is already its largest brand by revenue and this agreement brings further multi-year income potential along with the endorsement of a major UK retailer.

Comment: Although one had to perhaps do a double take in terms of NEXT being Next (NXT), Sanderson has pulled off a coup, with the backing of Next, or is it NEXT?

Seeing Machines (SEE), the computer vision technology company, published a trading update for the six months to 31 December 2022 and quarterly Key Performance Indicators for the quarter ended 31 December 2022. The company said it expects to report revenue for H1 2023 of $24.4m (H1 2022: $15.8m), representing a 54% increase year on year.

Comment: As the company itself has mentioned in its RNS, the regulatory tailwinds for Seeing Machines have backed the company, something which is well illustrated by the latest revenue forecast rise.

Upland Resources (UPL) announced that following the announcement on 20 February 2023, the Fundraise has now raised gross proceeds of approximately £1.705 million at a price of 0.6p. The company said that this investment enables Upland to grow its stake in Block SK334 Joint Technical Study from 20% to 45% which is a 125% increase from the original participating interest. Following significant demand in the bookbuild the Board decided to upsize the Fundraise, increasing the gross proceeds from £1.2m to £1.705m.

Comment: It looks as though the aforementioned Twitterati who have been backing Upland, have also put their money where their mouths are with regard to the latest enlarged fundraise. It should be the case that shares of UPL now resume their early 2023 rally,

Author @ZaksTradersCafe

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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.

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