Share Talk Weekly Small Cap Movers & Shakers – 9th April 2022

Osirium Technologies PLC, (AIM: OSI) More than doubled this week after the cybersecurity- and IT automation software expert boasted of a record quarter in bookings. Over the month, a 178.50% gain.

All those companies that are worried about Russian hackers must be concerned. According to the group, it is experiencing continued growth in contract value and a return to pre-pandemic levels. Five of the five contracts that were secured in the first three months of the 2022 fiscal year have a greater value than any contract signed in fiscal 20201.

ENGAGE XR Holdings PLC (LON: EXR) a virtual-reality (VR) technology company, saw a 56.00% increase over the week following an announcement by VictoryXR. VictoryXR has announced the launch in the US of 10 “metaversities”, this autumn.

The statement stated that each college or university will have a replica digital campus that students can attend, whether they are learning on-campus or remotely.

Steve Grubbs, VictoryXR’s chief executive officer, stated that students can break up into small groups to work on projects together just like in the real world.

It’s understandable, Grubbs has a strange obsession with insects.

Oilex Ltd (ASX:AIM: OEX) continued to gather momentum this week, up 29.85% over the past week as the company delivered two news updates.

On Monday Oilex stated they had been informed by the Gujarat Pollution Control Board that they have confirmed the revocation of the production halt concerning the Company’s Cambay field and have authorised the use of the Early Gas Production Facility on the Cambay C-73 wellsite. GPCB’s personnel will visit the C-73 wellsite to remove the production flange seal in the coming days.

This was followed up on Friday with the news that subsequent to the receipt of the Consent to Operate from the Gujarat Pollution Control Board, production has re-commenced on the Cambay field together with gas sales.

Oilex’s Chief Executive Officer, Roland Wessel, said:

“The re-establishment of production from the Cambay gasfield occurred soon after the Indian government announced that the price of domestic gas would more than double from $2.9 per mmbtu to $6.1 per mmbtu. This will provide a material benefit to Oilex’s cash flow.”

 Journey PCL (AIM: JNEO), provides information systems and technical support to transport operators and local authorities. It announced a new framework arrangement with First Bus UK.

As the company announced that it was the largest framework agreement in the group’s history, shares rose 38%. The initial term will run for three years, ending March 2025. It is expected to generate £9mln revenues. There is an option to extend it by two more years up to March 2027.

The shares of Russia-focused oil and natural gas exploration company Petroneft Resources (AIM: PTR) were out of favour this year. They lost two-thirds of their value immediately after Russia’s invasion of Ukraine. However, the shares attracted interest this week, causing them to rise by more than a quarter to 1.7p.

It’s been a great week for Avacta Group PLC (AIM: AVCT) the diagnostics company that released full-year results.

Oncology company boasted of “periods of transformational progress” in 2021. The group marked its transition to a clinical-stage business with its Therapeutics Division celebrating dosing the first patient in Phase I of the AVA6000 asset.

AffyXell Therapeutics, Avacta’s joint venture with Daewoong Pharmaceutical entered into a collaboration agreement with Biocytogen, a Chinese biopharmaceutical developer, and the Korea Non-Clinical Technology Solution Centre.

This collaboration aims to develop new immune diseases in vivo models, and carry out proof-of concept and toxicology testing of AffyXell’s drug candidates using these disease models.

Avacta shares rose 32% due to the abundance of positive news.

Sector peer Omega Diagnostics Group PLC (AIM: ODX), jumped 22% after it stated that it experienced strong revenue growth last fiscal year, despite the decline in Covid.

In-vitro diagnostic product maker Covid said future revenues are unlikely to be significant. However, the market concentrated on the 41% increase of revenues to 12.3mln in March. This was due to an increase in contribution from Health & Nutrition to £8.6mln, compared to £6.8mln last year.

i3 Energy PLC (AIM: I3E). The company said that its Canadian subsidiary had record-breaking reserves at the end of 2021 and that the quarter just finished saw its highest-ever production.

  • Record Corporate Production on Strong Operational Performance.
    • Based on field estimates, i3 exited the first quarter of 2022 with a record weekly average production of approximately 20,312 boepd comprised of 61.1 million standard cubic feet of gas per day (“mmscfd”), 6,290 barrels per day (“bbl/d”) of natural gas liquids (“NGLs”), 3,522 bbl/d of oil and 316 boepd of gross overriding royalty interest production.
    • Current production continues to exceed expectations due to continual outperformance of the Company’s low decline production base, which has been further enhanced through strong drilling results via i3’s inaugural development drilling program.
    • Based on forward strip pricing at 31 March 2022, i3 now forecasts full-year 2022 net operating income (“NOI” = revenue minus royalties, opex, transportation and processing) of $192 million, a 28% increase over that predicted in the Company’s December 2021 capital budget announcement. This increase reflects the upward shift in commodity prices, in addition to well results that have bettered i3’s pre-drill forecasts.

This week, shares in I3E rose 21.38%

Sensyne Health (LON: SENS) was the worst performer of the week. It announced the resignation of its founder and chief executive, as well as financial plans. The company said that discussions with a small number of interested parties are continuing.

The shares lost around three-quarters of their value -80.85%

After a funding update, a directorate change and a funding update, Bonhill Group PLC (LON: BONH) was another company that appeared on the slide. is a business-to-business media company.

Simon Stilwell, the company’s chief executive officer, has resigned immediately to pursue other business opportunities. The company plans to raise approximately £1.1mln via the issuance of shares at 5.5p.

The shares traded at 5.75p on Friday, down 26% from the previous week


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