RNS Hotlist with Zak Mir: QTZ, RGO, SEE, DOTD, INCE, CRTM, EST, CRCL, KMK, EVG, THX, PMG, GST, BEM & ENET via Vox Markets

Quetzal Capital (QTZ), which has conditionally agreed to acquire Tap Global Limited, a regulated, crypto-fiat exchange service provider, notes recent developments in cryptocurrency markets concerning FTX Group and questions around custody arrangements for customer crypto assets. The Board of Quetzal confirms that Tap has no direct exposure to FTX.

Author @ZaksTradersCafe

Riverfort (RGO) announced that it is investing €700,000 in a €5 million debt financing package for Gaussin SA which was announced by the company on 10 November 2022. RGO said it arranged the funding package and it will complement the €4 million equity raised by Gaussin in October 2022, supporting the company’s ability to fulfil its recently announced order book of €89.5 million. RGO expects to generate an investment return from this investment through a combination of interest income and equity upside through the exercise of warrants.

Seeing Machines (SEE), the vision technology company, said it was notified on 15 November 2022 that Lombard Odier Asset Management (Europe) Limited has bought 700,000 ordinary shares at 6.8p taking its stake in SEE to 14.99%.

Dotdigital Group (DOTD), the marketing automation and customer engagement platform, announced its final audited results for the year ended 30 June 2022. Organic revenue growth rose 8% to £62.8m (FY21: £58.1m). Recurring revenue increased to 94% (FY21: 93%).

Ince (INCE) and Zeus Group Limited announced that they have reached an agreement for Zeus to acquire the entire issued share capital of Ince’s wholly owned subsidiary, Arden Partners plc. The Disposal is subject to the approval of the FCA to the change of control of Arden in accordance with section 185 of FSMA and approval from Ince’s principal lending bank.

Critical Metals (CRTM), a mining company where the clue is in the name, announced the appointment of John Greeff as the Mine Manager at the Company’s Molulu copper/cobalt project with immediate effect. The company said that at Molulu the camp is now operational and onsite developments continue. There are now contract arrangements for the required earth moving and mining equipment that will be used in copper oxide ore production, as well as a contract arrangement for a 20,000-litre diesel fuel tank to support mining operations, which will arrive at the Molulu camp early next week.

East Star Resources (EST), the Kazakhstan-focused minerals exploration company, announced the completion of 1,001 m of Reverse Circulation drilling at the Talairyk heavy rare earths project in East Kostanay, Kazakhstan. The company said broad zones of kaolinitic clays are exactly what it hoped to see as this is the minerology where an ion exchange style REE+Y deposit might develop. If the results prove positive, it can launch straight into a dual strategy of resource and exploration drilling at the Talairyk project in 2023.

Corcel (CRCL), the natural resource exploration and development company, announced that it has sold it’s 40% interest in the Tring Road 50MW gas peaking project outside of Aylesbury to Terra Firma Ltd. The company has agreed a sales price of £317,946, with £121,146 to be paid immediately and a further £196,800 at completion. The company intends to use these funds, once received, to further reduce its recently restructured debt.

Kromek Group (KMK), a developer of radiation and bio-detection technology solutions, looks as though it has started to gain fundamental momentum. The company announced that it has secured a contract with a UK Government department to develop and supply biological threat detection systems. Under the terms of the contract, Kromek will commence work in December for a three-year programme worth £4.9m. The contract also includes an option for extended maintenance services after the initial term.

Evgen Pharma (EVG), a clinical stage drug development company, announces that it has dosed the first group of healthy volunteers in its placebo-controlled, dose-escalating, randomised Phase I/Ib clinical trial. The study aims to provide further insight into the pharmacokinetic and pharmacodynamic characteristics of the new enteric coated tablet formulation of SFX-01, as well as investigating how sulforaphane released from SFX-01 engages with key molecular targets of interest.

Thor Explorations (THX) announced additional drilling results from the Makosa gold deposit at the Douta Gold Project, Senegal. The company said it was pleased to announce further, very positive drilling results from the southern parts of the Makosa resource area. Several high-grade intervals with grades of up to 13.8 g/tAu were encountered during the drilling showing that more higher-grade material has been delineated in line with the program objectives.

Parkmead (PMG), the independent energy group, announced that the Drilltec Synergy 2 Rig has now commenced its mobilisation, ahead of our upcoming two-well ‘LDS’ drilling campaign in the Netherlands. The LDS wells will target multiple Rotliegendes gas reservoir prospects from the existing Diever well site, which is already in production.

GSTechnologies (GST), the fintech company, announced the soft launch of its cryptoasset exchange and the completion of the change in company name for the Group’s operating entity UAB Glindala. The soft launch follows the Company’s receipt of approval from the Lithuanian Financial Crime Investigation Service.

Beowulf (BEM), provided a progress update for the Kallak Iron Ore Project being developed by the Company’s 100 per cent owned subsidiary Jokkmokk Iron Mines AB. The company said the Kallak North Scoping Study is on schedule to be completed this quarter, Q4 2022.

Ethernity Networks (ENET), a supplier of data processing semiconductor technology, announced that its existing American Fixed Wireless OEM customer has selected Ethernity’s data processing system-on-chip for its second-generation Fixed Wireless Access base station node product. This follow on order comes after shipment by Ethernity of majority of the initial $2m of ENET FPGA SoC devices for the Customers’ First-Generation FWA based station product.

Author @ZaksTradersCafe

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.

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