Pensana (PRE) said that further to the announcement of 29 August 2023, which reported high grade TREO soil sampling results at Sulima West and encouraging results from other targets on the Coola exploration licence area.
The company is pleased to report on the Mineralogical Characterisation studies undertaken by SGS South Africa of samples collected at Sulima West and the Coola carbonatite during 2022. PRE said it was encouraged that the initial mineralogical study has confirmed the processing potential of the rare earth host minerals for both the Sulima West laterite and the Coola Carbonatite.
Comment: Shares of PRE really are in focus with the recent recovery and enthusiastic director buying. Today’s announcement could provide an excuse for a resumption of the rebound.
Greatland Gold (GGP) a precious and base metals focused mining development and exploration company, provided an update on corporate activities. The company said it was delighted by the continued support of its cornerstone shareholder, Wyloo. The A$50 million unsecured facility provides additional flexibility for funding requirements through 2024, including completion of the Havieron Feasibility Study. After careful reflection on a number of factors and opportunities, it believes it can achieve a better outcome for existing shareholders by deferring the proposed ASX cross-listing to a later date.
Comment: If one looks at social media one can see that a few shareholders are not as supportive as Wyloo, something which may change in the wake of the latest news of a A$50m injection. If there was a time for the shares to rebound off near term lows, this is it. As a post script the decision to defer ASX is probably not the right one, as currently an exchange other than London would be more supportive to GGP’s cause.
Online Blockchain (OBC) reported latest details and developments on Synthia, its AI whole-life assistant. The AI assistant utilises an innovative proprietary plugin system and has access to a wide range of different APIs and services such as WolframAlpha and Bing Web Search. In an improvement on ChatGPT, the AI assistant can contextually understand tasks and choose which plugins to employ to obtain information from the most appropriate source. Synthia, currently in early alpha testing, is powered by a variety of cutting-edge large language. It’s designed to make life more efficient, productive and easy to be eventually sold as an APP. The existing legacy assets are, Umbria (a crypto converter), Rocky Horror NFTs and a 7.7% stake in ADVFN.” Anyone interested in testing Synthia AI assistant can join here: https://synthia.cc/”
Comment: OBC is a 20-year veteran incubator and developer of IT various businesses, surfing the zeitgeist. The 11.25p share prices and £1.6m mkt cap does little to reflect these AI possibilities. In terms of making life more efficient, one looks forward to Synthia removing the need for lawyers, accountants, auditors, ULEZ, the congestion charge, and the BBC license fee.
Blackbird (BIRD), the technology licensor, developer and seller of market-leading cloud native video editing platform, Blackbird, showcased and named its Creator SaaS product, elevate.io, to a number of investors over two Special Events in Shoreditch, East London on Wednesday 13 September 2023. The company said its overarching ambition is to simplify video content creation and distribution at scale by harnessing the power of its codec. It aims to take powerful video content creation functionality to the web with multi-player collaboration in real time, an area which is hugely underserved.
Comment: Having attended the event, after heading to the edgy, wild frontier of Shoreditch, the presentation of elevate.io was right on the money. This is especially from the perspective of someone hungry to use the product. Recent director buying should be taken as a decent green flag to add to the momentum of yesterday’s event.
Invinity Energy Systems (IES), a manufacturer of utility-grade energy storage, announce that the company has received the first customer order for its next-generation product, code-named “Mistral”. The company said Mistral represents the future of grid-connected energy storage with market-leading scalability and economics. Getting a first order for a new generation of product is always an important milestone, and having it come from Everdura, its trusted partner in Taiwan, is a demonstration of our deep relationship.
Comment: There has been decent, regular newsflow from IES, something which makes it perhaps rather unfair that the shares are off their highs for the year. Support near the 40p zone for a return towards 2023’s best seems a reasonable scenario for the rest of the year.
CoTec Holdings Corp. and Mkango Resources (MKA) announce that CoTec and Maginito Limited have entered into a binding letter agreement pursuant to which they have agreed a 50:50 joint venture in relation to the United States roll-out of HyProMag’s rare earth magnet recycling technology. HyProMag’s technology will be sublicenced to the new Joint Venture company, HyProMag US, on formation. MKA said it sees a very significant opportunity in the US market and look forward to working with CoTec and HyProMag as it moves into the next phase of growth. Less than 5 per cent of rare earth magnets are currently recycled from end-of-life products.
Comment: MKA through its JV comes up with a quite inspired idea in terms of recycling end of life products. Indeed, doing this is the vast US market adds to the merits of the concept.
Andrada Mining (ATM), the African technology metals mining company, provided an unaudited operational update for the second quarter ending 31 August 2023. The company said its main activity over the quarter involved the completion of commissioning of the lithium pilot plant. The completion of commissioning is key to expediting the metallurgical testwork that is essential to incorporating the lithium circuit into the Run of Mine production. The main objective of the testwork programme is to determine the optimal processing facility for extracting consistent, homogenous, saleable concentrate for both the chemical and industrial lithium markets.
Comment: ATM continues to push forward, with the lithium angle right on the money given the urgency of boosting supply, as we attempt to go into full EV mode.
LoopUp Group (LOOP), the cloud platform for premium hybrid communications, announced its unaudited interim results for the six months ended 30 June 2023. The company said Cloud Telephony has seen triple digit growth in both customers and booked ARR, and it is proud to offer the broadest geographic licensed coverage on Microsoft’s Operator Connect program. Combined with its global technology platform and team expertise across telecommunications, unified communications and software development, it is well placed with a building pipeline to become a future winner in the multinational segment of the $31 billion Cloud Telephony market opportunity.
Comment: Shares of LOOP have delivered a decent bump off the lows ahead of today’s update, underlining that the stock really should not be at the low end of the range, given the fundamental progress being made.
Jersey Oil & Gas (JOG), an independent upstream oil and gas company, announced its unaudited Interim Results for the six month period ended 30 June 2023. The company said the first half of the year has been a pivotal period in the history of the company. With the farm-out to NEO Energy completed, the GBA development solution locked down and the licences covering the area extended, it now has a clear pathway to monetising the resource base it has built up over recent years.
Comment: Perhaps the reason that last month’s sharp rally fizzled out was that the market was waiting for today’s update. It would appear that there is nothing in the latest RNS to prevent a resumption of the summer rally.
Hemogenyx Pharmaceuticals (HEMO), the biopharmaceutical group, announced that the FDA has accepted the company’s plan to address the FDA’s concerns that resulted in a Clinical Hold of the HEMO-CAR-T Investigational New Drug application. HEMO said it has pleased that the FDA has agreed to its plan and preliminary test results to address their concerns regarding our HEMO-CAR-T IND application. It is now working hard to complete the schedule of work set out in the plan and to re-submit the IND as expeditiously as possible in order to move forward with clinical trials of HEMO-CAR-T.
Comment: HEMO shareholders are still in the game, as the Man From Del Monte, a.k.a. the FDA keeps the engagement going regarding HEMO-CAR-T. One would suspect that even the slightest whiff of progress from this point would be a significant shot in the arm for the share price.
Checkit (CKT) announced its unaudited results for the six months ended 31 July 2023. ARR increased year on year by +24% to £12.6m at period end (H1 FY23: £10.2m), including US ARR, which grew +41% to £3.2m (H1 FY23: £2.3m). Gross profit increased by +30% to £3.9m (H1 FY23: £3.0m). Improved cost of sales efficiency resulted in improved gross margins of 69% (H1 FY23: 63%). The company said CKT Is on an accelerated track to profitability. It is scaling growth through its land and expand model, while prioritising operational efficiency and cost reduction. Despite the challenges in the wider economy, its diverse customer base and a product suite that is built to deliver operational efficiency uniquely positions its for market capture.
Comment: CKT is one of those (few) stocks in the small cap space where one can tell that the company is on the front foot fundamentally. This is over and above the “land and expand” phrase, which should immediately be added to all books on management consultancy.
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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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