Share Talk Weekly Small Cap Movers & Shakers, Saturday 30th April 2022

Here’s a look at the top movers and fallers in small caps over the past week.

Clontarf Energy, (AIM: CLON) was able to issue shares at a discounted price and see its share prices rise.

Oil & Gas Exploration Company raised £3.5mln through the placement of 1.4bn shares at 0.25p per share via several brokers based out of Australia. These shares make up 61.7% of the company’s increased share capital.

The shares traded at 0.29p the day of the announcement. They were up to 0.375p by Friday.

According to the company, it is currently evaluating several projects in different jurisdictions, including advanced gas exploration opportunities in Australia.

LoopUp PLC (AIM: LOOP). shares recovered from their slump and soared 88% to 13.25p this week after it was awarded a contract for Hybridium technology.

The contract is valued at a minimum of EUR200,000 (£169,000) by Telefonica, a Spanish telecoms company.

LoopUp also provided a business update. It stated that it had won 44 cloud-telephony contracts last year, and 13 this fiscal year.

It stated that the performance “places the group on track for its full-year goal of securing 50 more contract wins in FY2022.”

Bonhill Group PLC, LSE: BONH) saw its share price rise 22% to 7p following an open offer at 5.5p and conditional placing of shares.

To increase its working capital, the company plans to raise PS1.2mln.

Keras Resources PLC (AIM: KRS) climbed 18% to 0.115p following its announcement that it will raise £1.95mln via placing and broker option at 0.12p each share. This follows the acquisition of Diamond Creek phosphate mining at the end of March.

The new shares were issued at an additional 7% of the current price. £1.2mln was already committed by First Uranium Resources, a cornerstone investor.


Baron Oil (AIM: BOIL),  announced late Friday that it has conditionally raised £1.65 million (before expenses) by way of a placing and subscription of a total of 2,750,000,000 new ordinary shares of 0.025p each in the Company at a price of 0.06 pence per share. Allenby Capital Limited is acting as a broker in connection with the Fundraising, which was oversubscribed.

Indicative use of the Fundraising’s net proceeds and planned activities

The Directors anticipate the following indicative use of funds, based on the net Fundraising proceeds of approximately £1.5 million.

Approximately 55% of the net proceeds of the Fundraising will be applied towards activities in relation to the Company’s TL-SO-19-16 PSC (“Chuditch”) project and will include

Jersey Oil and Gas PLC (AIM: JOG) may seem odd for a company focusing on the North Sea, but it’s not impossible to imagine that people don’t want the narrow English Channel made more difficult by scattered oil drilling rigs.

After it announced that its Greater Buchan Area farmout is generating widespread interest, the company’s shares gained around a third of their value this week.

Jersey Oil has been engaged in initial screening and engagement with several serious counterparties of scale. Jersey Oil continues to do due diligence, including two-way collaborative workstreams.

Pubs have struggled since the initial lockdown, but things are improving for The City Pub Group which released full-year results this week.

After the company announced that it had traded ahead of 2019, its shares rose 18% and reached 94p.

Empyrean Energy (AIM: EME) had a difficult week. It said that it would reevaluate all drill data from the Jade prospect offshore China. The well log showed no oil in the target reservoir.

According to the company’s statement, no oil pay was seen while drilling in the wireline logs.

Over the course of the week, the shares lost three-quarters of their value.

Kropz PLC, (AIM: KRPZ) was an emerging African phosphate developer and producer. It saw its stock price plummet by a third as it took out a bridging loan at 14% interest to pay for Kropz Elandsfontein operations until the end of the month.

The second quarter will see the production of enough phosphate rock concentrate at this project to allow for the first bulk sale. This is in contrast to what was originally anticipated, which means that the loan will need to be repaid.

Finally, shares of Novacyt SA (AIM: NCYT)  For some time, the DHSC has been disputing the specialist in clinical diagnostics over a supply contract that was announced on September 29, 2020. This claim amounts to £134.6mln. The amount claimed is roughly in line with the fourth-quarter 2020 revenue dispute, as previously announced.

Novacyt SA believes it has strong grounds for defending the claim and asserting its contractual rights, even in relation to the recovery of outstanding amounts due to the DHSC.

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