Tap Global Group (AQSE: TAP), an innovative digital finance hub that brings money payments and cryptocurrency settlement services together in a single user-friendly app, announces its intention to apply for admission of its ordinary shares of 0.1 pence each to trading on the AIM Market (“AIM”) of the London Stock Exchange and cancel the admission of its Ordinary Shares to trading on the AQSE Growth Market.
The London Stock Exchange has today announced Tap Group’s intention to float on AIM, and it is expected that Admission will become effective, and that dealings in the Ordinary Shares will commence on AIM, at 8.00 a.m. on 27 June 2025.
Comment: It is almost impossible to work out why any company would want to leave the cosy confines of the Aquis market and go to AIM with all the extra cost, and a Nomad thrown in to boot as a “spy in the cab.” However, TAP has a £11m market cap, and has certainly underperformed, even as the crypto space has ballooned. Perhaps a change is as good as a rest.
Dundee Precious Metals Inc. and Adriatic Metals Plc (ADT1) announced that they have agreed the terms of a recommended acquisition of the entire issued and to be issued ordinary share capital of Adriatic. ADT1 shareholders will receive 0.1590 New DPM Share; and 93 pence in cash.
Comment: Always a cut above as far as being a quality silver play, the soaring price of the metal in the recent past made a deal inevitable.
Tern (TERN), the company focused on value creation from Internet of Things (“IoT”) technology businesses, announced that it was yesterday informed that Ian Ritchie, Non-Executive Chairman of the Company, had purchased 227,688 ordinary shares in the Company at a price of 1.538 pence per ordinary share. Following this purchase, Ian Ritchie now holds 2,504,575 ordinary shares, being approximately 0.43% of the Company’s total voting rights.
Comment: Given the history of TERN, anyone buying the stock, especially a director must be very sure of themselves. This is particularly how frequently the company raises money.
Blencowe Resources (BRES) reported further progress on its role within the European Union’s flagship Gen3 battery initiative, Project SAFELOOP, for which the Company’s Orom-Cross Graphite Project in Uganda has been selected as the exclusive supplier of natural flake graphite. SAFELOOP is a three-year programme funded by the EU’s €100 billion Project Horizon energy transition initiative.
Comment: In terms of the newsflow shares of BRES have been delivering an almost perfect score, especially given the US funding angle, and the EU connection. The only thing missing is a decent push higher for the share price.
AFC Energy (AFC), a leading provider of hydrogen power generation technologies, provides an update on progress on cost optimisation initiatives for its 30kW hydrogen fuel cell generator: Cost reduction of c.85% from current build cost, achieved through adoption of low cost stack technology and value engineering exercise. Supply agreement signed for future supply of fuel cell systems to support demand.
Comment: 85% less of anything is a big deal, something which should ensure that the near tripling of the share price since the beginning of April will resume, sooner rather than later.
Capital Metals (CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka said that pursuant to the Company’s remuneration plan, the Executive Chair will be eligible for a bonus of up to 100% of his base salary of $180,000 (£133,000). The bonus to be awarded is payable as to (i) 30% in cash upon delivery of a minimum fundraise at the Company or Project level of US$2 million, and (ii) 70% on delivery of the FID, with the second amount payable as to 50% in cash and 50% in shares (priced at the 30-day volume weighted average price).
Comment: CMET is certainly a transformed company in 2025, with the latest news underlining how close its flagship projects in Sri Lanka is to getting over the line at the project level.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, announced that, the TSX Venture Exchange has approved the Company’s notice of its intention to make a Normal Course Issuer Bid to commence a share buyback programme.
Comment: The only Achilles Heel that AXL has had would appear to be the rather lowly share price / rating, something which has the logical remedy of serving up a share buyback.
Challenger Energy (CEG) announced its audited Annual Results for the year ended 31 December 2024. CEG said “For the 2024 period under review, we recorded a loss of $1.1 million (2023: $13.4 million). This includes the impact of the gain made on completion of the AREA OFF-1 farmout, as well as various non-cash items, most notably non-cash losses arising from accounting impairments associated with the Trinidadian assets.”
Comment: Shares of CEG were a big turnaround situation at the start of this year, as process which may resume as the market anticipates the company swinging towards profitability.
Phoenix Copper (PXC), the AIM quoted, USA focused base and precious metals emerging producer and exploration company, confirmed that in response to investor led demand, the Company has raised £500,000 at a price of 4 pence. The net proceeds of the Placing will provide the Company with additional working capital while it finalises the proposed $75 million placement of corporate copper bonds, as announced on 12 June 2025.
Comment: A sensible de-risking move from PXC, in the wake of the all important copper bond deal. That said, the market should and perhaps will reward the company with a rather higher valuation as the finalisation of the bond deal approaches.
CRISM Therapeutics Corporation (CRTX), the innovative UK drug delivery company focused on the localised delivery of chemotherapy drugs, announced its final audited results for the year ended 31 December 2024. CRTX said “CRISM Therapeutics Corporation (AIM: CRTX), the innovative UK drug delivery company focused on the localised delivery of chemotherapy drugs, announces its final audited results for the year ended 31 December 2024.”
Comment: Rather by stealth CRTX has managed to be not only a successful RTO, but also in share price terms, a decent looking biotech play, something which is certainly not a common occurrence at the small cap end.
Disclaimer & Declaration of Interest:
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.
