Wellnex Life (WNX), an innovative brand and distribution company focused on consumer health and wellness products, is pleased to announce the admission of its ordinary shares of no par value to trading on AIM, a market operated by the London Stock Exchange plc.
In conjunction with Admission, the Company has also completed a successful capital raising of approximately £5.22m (A$10.68m) (before expenses) through a placing of new Ordinary Shares with certain institutional and other investors through a UK and Australian placing.
Comment: It is rare these days that the London market is graced with a company of any sector which is a genuine, international, scalable business, with a specialist niche to drive growth. WNX certainly fits the bill in this respect and this is underlined by the relationship with Haleon (HLN).
Citius Resources plc is pleased to announce the completion of its acquisition of Harena Resources Limited and the admission of its enlarged share capital of 413,884,352 ordinary shares of 0.5 pence each at an issue price of 3 pence each to trading on the Equity Shares (transition) category of the Official List and the Main Market of the London Stock Exchange from 8:00 a.m. on 21 March 2025. The Company will change its name to Harena Resources (HREE). HREE said “With military, AI, and renewable energy applications driving rare earth demand, Harena offers the potential for low-cost, geopolitically neutral supply of the key rare earth elements. Our successful listing reflects strong investor interest in secure, ex-China rare earth supply chains, and we are excited to execute our near-term milestones to drive shareholder value.”
Comment: The secret sauce as far as HREE is the ionic clay source of its rare earth metals, at a time when governments are ramping up their defence capabilities, and their dependence on China’s stranglehold on the market. It would be expected that HREE will not only start with a premium rating, but maintain and extend it.
Ferrexpo (FXPO) advised that two of its Ukrainian subsidiaries, Ferrexpo Poltava Mining (FPM) and Ferrexpo Yeristovo Mining (FYM), have received notifications from the Ukrainian tax authorities of a decision to suspend the refund of VAT for the month of January 2025, in the aggregate amount of UAH 512.9 million (approximately US$ 12.5 million).
Comment: It would appear that all is fair in love and war, and the latter is what FXPO is currently experiencing. From a trading perspective the question is whether this VAT hit is already in the price? This could very well be the case under 70p and under the 200 day moving average at 69p.
Power Metal Resources (POW), the London-listed exploration company with a global project portfolio, provided an exploration update for the Reitenbach Uranium Property. The update concerns work undertaken by Power Metal and Fermi Exploration. Fermi is the uranium-focused JV comprising Power Metal’s portfolio of uranium licences, of which Reitenbach is a constituent.
Comment: It would appear that POW’s uranium moves are a decent potential driver for the shares, over and above the chunky cheque it received from the recent partial sale of its holding in Guardian Metal (GMET).
Helium One Global Limited (HE1), the primary helium explorer, is pleased to announce its unaudited condensed and consolidated results for the six months ended 31 December 2024, in addition to providing an update on progress across the Company’s projects in Tanzania and the USA. For the six-month period ended 31 December 2024, the Group reported an unaudited pre-tax loss of $1,927,896 (six months ended 31 December 2023, unaudited $1,064,747). The Company said it continues to be well funded and as at 31 December 2024 the Company had cash balances totalling $10.02 million (31 December 2023 $8.74 million).
Comment: If HE1 was as good as producing helium as it is raising money from the market, it would probably already be in the blue chip category. At least losses to day of a million or two are in the modest category while we wait of the big discoveries / production one day.
Blencowe Resources (BRES) announced that the National Environmental Management Authority (NEMA) of Uganda has approved its revised Environmental, Social, Impact Assessment for the Orom-Cross graphite project. Following the Company’s enlarged development strategy in 2024, the size and scale of the project has been expanded significantly, with substantial changes enhancing both environmental and social aspects.
Comment: It is certainly a shame that the market is more keen on playing guessing games as far as the companies finances / funding requirements, rather than the progress it is making on an operational basis and the increasing value of Orom-Cross.
Mosman Oil and Gas (MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announces updates on the first revenue from the Sagebrush project, schedule update on the Vecta project and ongoing technical evaluation of the Coyote Wash Project area, Colorado, USA. MSMN said “We are pleased to report progress on Coyote Wash and Sagebrush projects that Mosman operates. The benefits of the Sagebrush Project providing monthly revenues is the positive cash flow it contributes that not many other helium exploration companies enjoy.”
Comment: MSMN has had a quiet period as far as its share price has been concerned, with fans of the company hoping that the positive cashflow at Sagebrush could be a fresh driver.
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.
