RNS Hotlist with Zak Mir: TGR, MARU, MAC, VSA, STK, AQRU, ATM, UPL, MSMN, GSCU, CMET, TEK, ROQ, HARL & HUI via Vox Markets

Tirupati Graphite (TGR), the graphite and graphene company, announced that it has commenced production from the newly built 18,000 tons per annum flake graphite production facilities at its Sahamamy project in Madagascar.

Author @ZaksTradersCafe

The company said it has thus reached a globally significant 30,000 tpa flake graphite capacity and is progressing towards a steady state >80% production in the near term. It will continue to grow to the 84,000 tpa production from its Madagascar projects and engage for furthering the development of the assets it is acquiring in Mozambique.

Comment: It has always been all about production news for many investors and observers of Tirupati, and therefore today’s news can justifiably be regarded as a serious fundamental inflection point. It should be the case that we finally see Tirupati’s stock market valuation catching up with events over the very near term.

Marula Mining (AQSE: MARU) an African focused mining and development company, has amended the terms of its agreement with Tanzanian mining company, Takela Mining Tanzania Limited, and has agreed to increase its interest in the 10 granted mining licenses that comprise the Kinusi Copper Project located in Mpwapwa District in the Dodoma Region of central Tanzania, from 49% to 75%, for a total consideration of up to $550,000 through cash and staged equity payments and subject to certain milestones being achieved. The company said its now increased 75% interest in the Kinusi Copper Project is a testament to our belief in the high-value and near-term potential of this project.

Comment: It can be simply said with Marula today that the latest move to increase its stake in Kinusi shows that the company is putting its money where its belief is, in the value of the project.

Marechale Capital (MAC) announced that it has received proceeds of £218,000 for the sale of shares held in Future Biogas Group Ltd, following the acquisition of FBG by 3i Infrastructure plc on 15 February 2023. Shares sold in FBG included shares that were originally acquired in 2010-11 for £11,600 and shares issued to the Company by FBG in exchange for warrants granted to the Company as a result of its advice and assistance in fundraising.

Comment: 12 years to 10 bag is of course nothing to be sniffed at. More of the same Warren Buffett style timeframe investments are arguably required at Marechale.

VSA Capital Group (VSA) said it noted the announcement by Silverwood Brands plc noting the refusal by Lush Cosmetics Limited and Cosmetic Warriors Limited to record the transfer of shares for the 19.8% stake acquired by Silverwood for a total consideration of £216.8m payable in Silverwood shares. VSA Capital said it is in agreement with Silverwood’s stance that Lush’s actions have no merit, and reiterates that per the interim results announced on the 16th of December 2022, the company remains positive about its full year outcome.

Comment: Perhaps the main aspect here is that VSA states that it remains positive regarding its full year outcome, especially if the Lush situation can be resolved in a timely manner.

Streaks Gaming (STK), a GPT-driven conversational gaming platform targeting customers in the emerging US sports betting market announced that Philip Blows has been appointed as Executive Director and Digby Try has been appointed as Non Executive Director. Both appointments will take effect on 20 February 2023. Philip Blows co-founded listed crypto exchange and startup incubator AQRU (AQRU).

Comment: With AQRU having backed the recent Streaks Gaming IPO so strongly, it is perfectly logical that Philip Blows steps up to the plate as Executive Director given his experience in the new economy, not least at AQRU.

Andrada Mining (ATM) an African technology metals mining company, has received notice that non-executive director, Michael Rawlinson, purchased 563,239 shares at a price of 4.97p on 17 February 2023. Mr Rawlinson’s total holding has increased to 3,882,615 ordinary shares in the company representing 0.3% of the total shares in issue.

Comment: It seems absolutely right that there has been director buying in Andrada at current levels, given the way that the company has been rather dimmed in terms of investor engagement over recent months, even as it has made advances in its journey.

Upland Resources (UPL) announce that it has obtained conditional commitments to subscribe for 208,333,333 shares in the company at 0.60p per share on the basis that the investors will receive a warrant to purchase one share for every two shares held at a price of 1.20p. These warrants would be exercisable for a period of 2 years from issue. The subscription would raise gross cash proceeds of £1,250,000. The company said it is also in discussions with other investors concerning the purchase of shares on the same terms.

Comment: With the Twitterati already gushing about UPL’s billions of barrels in Sarawak, and elsewhere, today’s premium fundraise should lead them to a state of ecstasy. At the very least, a rebound in the stock after the recent pullback, should be on its way.

Mosman Oil and Gas (MSMN) the oil exploration, development, and production company, confirmed that it has now received a Sacred Site Clearance Certificate for EP 145, situated in the Amadeus Basin, from the Central Land Council. The company said the Sacred Site Clearance Certificate from the CLC is a major forward step in securing several approvals for seismic programme exploring the permit, other approvals can be progressed and work will then commence.

Comment: It will be interesting to see whether this “major step forward”, rather than work actually commencing, will be enough for the shares to progress their recent rebound off the lows.

Great Southern Copper (GSCU), the company focused on copper-gold exploration in Chile, provided an update of its exploration programmes in Chile. The company said momentum at Especularita is rapidly building with prospect-scale mapping and sampling at the Victoria and Teresita prospects demonstrating evidence for the potential of high-grade Cu-Au mineralisation. Both projects are approaching drill-ready status targeting high-grade structurally-controlled vein breccia style Cu-Au mineralisation.

Comment: “Drill ready” should be a magic phrase for any company in the mining space. Ideally, after an extended bear run in the shares, today’s announcement would be the trigger for at least a start of a recovery.

Capital Metals (CMET), a mineral sands company, updated regarding the temporary suspension of the company’s Industrial Mining Licences announced on 12 December 2022. The company said it has been advised that its ownership structure was legally correct, the Restructuring has been completed to satisfy the GSMB that the spirit of the law is reflected in its ownership structure, whilst ensuring the company retains the vast majority of the economic value in the Project. It looks forward to having the temporary suspension lifted and to the completion of advanced negotiations with prospective local strategic partners and offtake partners, which have continued positively.

Comment: Ironically, it could be the case that having been through a mining license suspension, the market will appreciate just what the merit of what CMET had in the first place, and mark up the stock accordingly.

Tekcapital (TEK), the UK intellectual property investment group, announced that it has raised a total of £2.25 million, in an oversubscribed placing at a price of 16p. The net proceeds of the Placing will primarily be used to accelerate the growth of the company’s portfolio companies.

Comment: One would have assumed that Tekcapital would have been above the clouds in terms of the need to raise relatively small amounts of cash to “accelerate growth.” Presumably, the £2.25m will really, really “accelerate growth.”

Roquefort Therapeutics (ROQ), the Main Market listed biotech company, announced that it has signed an exclusive licence and royalty agreement, for the field of medical diagnostics only, with a leading international diagnostics company, Randox Laboratories Ltd, in relation to its Midkine antibody portfolio. ROQ said this is a highly complementary and synergistic partnership with the UK’s diagnostics company, Randox which enables Roquefort Therapeutics to remain focused on developing first-in-class medicines, while Randox develops the Midkine cancer diagnostics that are essential for its clinical trials. Not only does the transaction highlight our robust IP position and strengthen its balance sheet it also reflects the high level of interest in its novel cancer pipeline.

Comment: Given biotech space stocks rarely get the coverage they deserve, it may be worth noting today’s announcement from Roquefort, in the sense that it underlines commercial nouse, as well as the value of ROQ’s IP, and its willingness to maximise value.

Harland & Wolff Group (HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, announces that it has secured six new smaller contracts within the defence, cruise & ferry and commercial fabrication markets. The company said these contracts, which have been entered into with various prime contractors and operators, are expected to be completed during the next 12-18 months and have an aggregate value in excess of £10 million.

Comment: One could say that H&W is consolidating its recent very positive news with an added number of bread and butter contracts. The value of this half dozen deals at over £10m should underpin the already strong sentiment towards the company.

Hydrogen Utopia International (HUI), an LSE-listed company specialising in turning non-recyclable mixed waste plastic into carbon free fuels, announced it is entering into a strategic partnership with Ethical Fashion Group (EFG), co-founded by British fashion industry veteran Harold Tillman CBE, to provide a ground-breaking Fashion Pollution Solution to clothing manufacturers and suppliers.

Comment: It is a canny move not only to highlight one of the biggest plastic polluters, the fashion industry, but also to bring in Harold Tilman, the fashion guru, to push this agenda. The move has already led to Tilman and HUI’s CEO Aleksandra Binkowska being photographed in the Sunday Telegraph, and should offer myriad other such positive initiatives.

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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