Share Talk Weekly Small Cap Movers & Shakers – 21st November 2021

A busy week for the small caps once again with Panthera Resources PLC, (AIM: PAT) flying the flag up 37% at 15.75p after it acquired Metal Mining India, its joint venture partner in Bhukia’s gold project.

To complete the deal, the AIM-listed company issued 3.0million shares and paid £0.5mln cash. The £0.12mln remaining will be paid on 29/04/2022.

The Bhukia project is a prospecting license application. It lies in the region of Metal Mining India’s previously granted permits in southern Rajasthan. The project has a JORC-compliant resource of 1.74million ounces at 1.4g per tonne gold.

Sector peer Wishbone Gold PLC, (AIM: WSBN) had a busy week. It completed Thursday’s acquisition of the Cottesloe Project. The vendor was issued 900,000 shares at an assumed 14p price, which is £126,000.

It reported Friday that independent consultants had informed it that the Red Setter geochemistry program in Western Australia has identified four new high-priority target areas for follow-up drilling.

After completion of track maintenance at Red Setter, a drilling rig is expected to arrive on or about 29 November. This week, the shares rose by about a third.

KEFI Gold and Copper PLC, up 18%, were another gold stocks on the rise following the announcement that preparations for project launch for the Tulu Kapi Gold Project have recommenced.

Sometimes it seems that the project has been in the works since Biblical times. However, the company only plans to begin mining and plant commissioning in the latter part of 2023.

Victoria Oil & Gas PLC, (AIM: VOG), saw its stock rise 26% to 3.6p. It announced that perforations were successfully added to well La108 safely and within budget. The well has also received additional net pay from the Upper Logbaba Formation.

President Energy PLC (AIM: PPC) is currently in the process of spin-out its Atome Energy subsidiary as an independently listed company. The news of a memorandum o understanding (MoU), between Atom’s Icelandic subsidiary Green Fuel and Danish company Haldor Topsoe lifted their spirits.

Green Fuel and Haldor Topsoe will partner to find efficient and scalable technologies to produce green ammonia in Iceland. They also plan to explore other business opportunities related to green ammonia. The shares rose 20%

Coro Energy PLC, (AIM: CORO), saw its price rise 15% to 0.295p upon entering the rapidly-growing Vietnamese energy sector in an independent power producer capacity.

In exchange for US$500,000 in initial funding from Coro, the company will acquire an 85% interest in a joint venture to be called Coro Renewables Vietnam. This will allow Coro to develop a pilot rooftop project of five megawatts and move it to ‘Ready to Build status.

Braveheart Investment Group PLC, (AIM: BRH), reported record profits in the first half of the fiscal year. It also saw a significant increase in the book value for its PhaseFocus Holdings Ltd. investment. This news drove shares to 34.5p, an increase of 25%.

Pre-tax profits reached £2.8mln during the six months to September 2021. This is an increase of £449157 in the same period last year. Income increased to £3.3mln, from £895,000.

Abingdon Health Plc (AIM: ABDX), which is a manufacturer of rapid diagnostic tests, sent shares 20% higher at 14.15p.

The year ended June saw a more than two-fold increase in revenue to PS11.6mln, compared to PS5.2mln last year. Revenues from the Department of Health and Social Care rose 138% to PS6.5mln. However, adjusted underlying losses of PS3.3mln were recorded, as opposed to profits of PS0.8mln in the previous year.

The marketing automation company dotDigital Group PLC‘s full-year numbers were not well received. Despite the company’s record year, shares plunged 21% to 196.4p.

The organic or like-for-like revenue growth for the year ended June was 23% to PS58.1mln. However, this only translated to a 9% increase in adjusted underlying earnings. (EBITDA) As the gross margin decreased to 82% from 91% last year, it resulted in a decline in adjusted underlying earnings. The decrease in overall group gross margin was due to the rise of premium messaging channels (routing purchased through a third party per-message basis, such as SMS). Texts have a lower margin than emails.

After a trading update, Biome Technologies PLC (AIM: BIOM), was another stock in decline. According to the bioplastics and radiofrequency business, full-year revenues will be lower than originally anticipated due to slippage in orders. EBITDA losses will likely be higher than market expectations.


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