Tap Global Group (AQSE: TAP), the FinTech app bridging the gap between traditional finance and blockchain technology, announces it has raised gross proceeds of £1 million at a price of 2 pence per Placing Share. The Placing was supported by a number of new and high-profile institutional investors, as well as individual Tap Group directors.
Tap Group has established a strong and now profitable platform with limited resources to date and with an increasingly efficient operating structure. Having reached cash flow positivity, the Company has an opportunity to utilise additional capital to scale faster through accelerated investment in marketing and customer acquisition, including the activation of a substantial database of registered users.
Comment: The fact that the shares pulled back slightly last week did somewhat suggest that one or two people successfully guessed that a fundraise was in the mix. Ideally, £1m in the kitty is used for the kind of marketing that gets the crypto punters in.
hVIVO (HVO), a fast-growing early-stage Contract Research Organisation (CRO) and the world leader in human challenge clinical trials, announces that, following the success of its pilot human metapneumovirus characterisation trial announced in January 2025, it has signed a £2 million contract with a new biopharmaceutical client to complete the final stage of the characterisation study ahead of future hMPV human challenge trials.
Comment: It remains something of a mystery as to how / why shares of HVO remain near the low end of the range, given the magnitude and frequency of new contract wins such as has been announced today.
East Star Resources (EST), which is exploring for copper and gold in Kazakhstan, provided initial drill results from Q4 2024 drilling at the Verkhuba Copper Deposit in the East Region of Kazakhstan. Assays from all 238 core samples taken from three drill holes have been received with several new mineralised zones intersected. EST said This supports our view that the ore lenses comprising the current resource model extend further and so additional drilling in these areas will potentially grow the resource and improve the economics. It is important to note that the three drill holes completed were not targeting the thickest, shallowest or highest-grade portions of the resource and so we look forward to getting the drill rig turning again in Q2 2025.
Comment: While positive drill results, even those of a high grade are always welcome, it should perhaps be remembered by EST and other explorers that in the current environment such announcements do not work in terms of getting the share price up. Indeed, with the implication of a near term funding need for development – very often the opposite.
Kohlberg Kravis Roberts & Co. L.P., confirmed that it has submitted four indicative non-binding proposals to the Assura Board regarding a possible cash offer for the entire issued and to be issued share capital of Assura (AGR), most recently at 48.0 pence per share, which was sent on 13 February 2025. The Latest Proposal values the fully diluted ordinary share capital of Assura at £1,562 million and represents: 28.2% premium to the closing share price of 37.4 pence on 13 February 2025 (being the date of the Latest Proposal).
Comment: Interestingly, there was a spike in shares of AGR on Friday, before the post close announcement regarding a possible offer for the company. Today’s announcement rewards these well informed / clairvoyant investors well, with a deal which looks as though it will do the job from our rich friends at KKR. God bless America.
Ondo Insurtech (ONDO), a company in claims prevention technology for home insurers, announced today that Privilege Underwriters Reciprocal Exchange (“PURE Insurance”), a member-owned property and casualty insurer, is expanding its LeakBot program beyond just downstate New York to now also include Indiana, North Carolina, New Jersey, Ohio, Pennsylvania and Washington. ONDO said PURE Insurance is a great partner. Their commitment to proactive risk management and a shared risk model is driving member engagement that is significantly higher than we see in most other insurance companies. We look forward to continuing to provide compelling results as we transition from a pilot project in a single state to a wider test of the LeakBot solution for PURE Insurance members across seven states.
Comment: ONDO looks to be reaching a sweet spot as far as newsflow and appreciation within its space. The question is how much of the good news is in the price after 2x sized share price rises in the past couple of years?
Hercules Site Services (HERC), a technology enabled labour supply group for the UK infrastructure and construction sectors, announces that it has been informed of a share dealing by Mrs Paula Wheatcroft, a person closely associated with Paul Wheatcroft, a director and Chief Financial Officer of the Company. On 14 February 2025, Mrs Wheatcroft purchased a total of 19,200 ordinary shares at a price of 52.0p per share. Following this purchase, the combined beneficial holding of Paul Wheatcroft and his wife is 43,200 ordinary shares, representing 0.05% of the Company’s issued share capital.
Comment: As stated with regard to Ondine (OBI), there is something special and significant about director share price buying at the top of the range, rather than the usual catching a falling knife variety- an attempt to boost stock market confidence.
EDX Medical Group (AQSE: EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, cardiovascular and infectious diseases, announced it has developed a new ‘super test’ for prostate cancer in an effort to revolutionise screening and diagnosis of the disease and accelerate personalised treatment for patients. The EDX test identifies the presence or absence of cancerous cells, signs of early and late-stage cancer, whether it is slow or aggressive as well as genetic and hereditary risks in the patient.
Comment: With AI driven diagnostics apparently the new rock and roll, we EDX entering the fray with what appears to be a strong contender. This should be the development that finally gets EDX shares breaking through the top of their range in a definitive way.
CAP-XX (CPX), a company involved in the design and manufacture of thin, prismatic supercapacitors and energy management systems, is pleased to announce its unaudited interim results for the six months ended 31 December 2024. The last set of results that do not reflect the positive impact of partnerships with SCHURTER and DigiKey. CPX said current trading includes one month of activity with SCHURTER. Billings of A$321,000 in January 2025 is an increase of 62 per cent versus January 2024. Bookings of A$281,000 in January 2025 is an increase of 27% versus January 2024.
Comment: Cutting operating costs by 30% and the arrival of new partners should be enough to persuade the stock market to finally re-rate shares of CPX.
Future Metals NL (FME) announced that recent drilling and ground gravity undertaken at the Eileen Bore Prospect and the adjacent previously undrilled ‘Target 2’, within the Alice Downs Corridor, has returned a significant mineralised intrusive extending over a strike of 4.5km. FME said the newly defined 4.5km intrusion represents a significant advancement in the potential of the Eileen Bore Prospect, and Future Metals believes that there is significant scope for expansion in the size and grade of mineralisation within the 4.5km intrusion via future exploration activity.
Comment: Shares of FME gapped up off their lows last week, something that suggests that one or two psychic investors have well functioning crystal balls.
Kromek Group (KMK), a developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announced that it has received the first $25.0m payment under its Enablement Agreement with Siemens Medical Solutions USA, Inc.
Comment: Given how many contracts / deals KMK have delivered in the recent past, and how well suited the current trading environment is for this company, it is surprising that the market remains so reticent to mark the shares up significantly higher.
Orosur Mining (OMI), announced the successful completion of the first phase of a two phase exploration JV over the El Pantano gold project in Santa Cruz province, Argentina. This milestone marks a significant step forward in the Company’s strategic development of the Project. OMI said it can now move to the second phase of the JV, that could see it move to 100% ownership of Deseado upon investment of an additional US$2m over two years.
Comment: Given the massive rise in the share price of OMI, and the fundraise, the company is well placed to expand, and has plenty of cash in the kitty to do so.
Thor Energy (THR) announced the completion of the acquisition of 80.2% of the issued share capital of Go Exploration Pty Ltd, the Australian-based natural (white) hydrogen and helium explorer. THR said “This acquisition represents a significant milestone for Thor Energy and is the culmination of a great deal of hard work and we are pleased to have been able to bring this transaction to a successful close. I believe our post-transaction market capitalisation when compared to our Australian and international peers makes the Company a compelling proposition.”
Comment: The under-rate of the company is indeed an aberration, and once the market gets a handle on THR’s move into hydrogen / helium, it could become on the more sought after London listed plays in this sector.
Insig AI (INSG), the data science and machine learning solutions company serving the asset management industry, is pleased to announce that it has signed a licence agreement and revenue share with JP Jenkins, the UK’s largest private market place for unlisted securities. Under the licence agreement, JP Jenkins will have access to Insig AI’s Transparency and Disclosure Index (“TDI”) reports covering more than 40 companies listed on its platform.
Comment: Given that JP Jenkins is the number one destination for LSE listed companies who want to save themselves half a bar a year, the name calling and general grief of being on the London stock market, doing a deal with this company seems spot on for INSG.
Helix Exploration (HEX), the helium exploration and development company with near-term production assets within the Montana Helium Fairway, announce its audited Annual Report and Financial Statements for the year ended 30 September 2024. HEX said “As we move into 2025 and beyond, we are not slowing down. Helix Exploration is committed to pushing boundaries, seizing opportunities, and delivering results. We encourage our shareholders to stay tuned as there are exciting times ahead.”
Comment: With the recent fundraise meaning that HEX is funded to production, it is perfectly understandable that HEX is feeling chipper regarding its prospect. This is especially so at the low end of the share price range as we are currently.
On 10 February 2024, CleanTech Lithium (CTL), an exploration and development company advancing lithium projects in Chile for the clean energy transition, announced an accelerated bookbuild to raise gross proceeds of £2.4 million by way of a placing at a price of 16 pence. As part of the Fundraising, the Placing Shares will carry a warrant entitlement of one warrant for every Placing Share. Each Warrant grants the holder the right to subscribe for one new Ordinary Share at a price of 11p.
Comment: The imminence of the ASX listing, and the warrant make the latest fundraise from CTL all the more attractive, especially as this itself bolsters the forthcoming Down Under move.
OXB (OXB), a global quality and innovation-led cell and gene therapy CDMO, today provides a trading update for the full year ended 31 December 2024. OXB said it was continuing to execute its multi-vector, multi-site “One OXB” strategy, and have successfully transformed our business into a pure-play CDMO. Our competitive advantage is reflected in our strong financial performance, with at least 78% organic revenue growth in the full year and our order book almost doubling since August.
Comment: Shares of OXB understandably reached an all time high last month, something which was quite understandable given the “One OXB” strategy. That said, it remains to be seen whether the doubling of the order book will be enough for the shares to get back to 450p plus again near term?
Empire Metals (EEE), the AIM-listed resource exploration and development company, announced the commencement of the next major drilling campaign at the Thomas and Cosgrove Prospects, within the Pitfield Project in Western Australia. The planned campaign consists of 84 Air Core drillholes for a total 4,340m drilled, that will both test the extent of, and bulk sample, the high-grade zones of titanium mineralisation that were recently discovered within the strongly weathered cap covering this giant, titanium-rich mineral system.
Comment: EEE shares have rebounded well since the December floor was put in at 5.5p. One would expect that announcements such as today’s should maintain the recent improved momentum and sentiment.
Alkemy Capital Investments (ALK) announced that it has raised £0.75 million at a subscription price of £1.25 per share. This includes a subscription of £150,000 from director Paul Atherley, £75,000 from director Sam Quinn, £50,000 from director Vikki Jeckell and £10,000 from director Helen Pein. Quark Financial was the Financial Advisor to the transaction. The net proceeds will be used to further the development of TVL’s lithium hydroxide processing faclility in Teesside and for general working capital purposes.
Comment: While we await for the big denouement regarding project funding, something which caused the shares to nearly 5x off their lows, ALK seizes the opportunity to bolster its cash position. Once again, everyone who is anyone at the company’s seems to have taken part in the fundraise – so a decent sign for what may be to come.
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.
