Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
Before the rug was somewhat pulled Stateside by the foolish idea of taxing the rich on Capital Gain Tax, equity markets were recovering well from their Tuesday scare. Of course, with Governments, punishing success and rewarding failure is in the DNA.
There was news for the second day running at Bezant Resources (BZT), albeit after the close. The copper-gold exploration and development company, unveiled a further significant copper intercept in its second drill hole at the Minemba prospect within the Kalengwa exploration project area in Zambia, in which the Company has a 30% interest and acts as operator.
Bezant said that copper mineralisation has been intersected over 114m downhole width within altered and brecciated gabbro intrusive rocks in the second hole at Minemba. In a ShareTalk interview Executive Chairman Colin Bird suggested that Minemba could be as positive for Bezant as Bushranger has been for Xtract Resources (XTR).
Shares of Catenae Innovation PLC (CTEA), the AIM quoted provider of digital media and technology, rose 20% as The Telegraph led with the exclusive that COVID-19 passports would be introduced in coming months. Last month Catenae announced that it has responded to the Government’s call for evidence on whether COVID-status certi+fication could play a role in reopening the UK economy, reducing restrictions on social contact and improving safety.
After a somewhat disappointing start to its life on the stock market, NFT Investments (NFT), a company specializing in the identification, acquisition, investment, and development of non-fungible tokens, revealed its maiden investment by acquiring a stake in AEON International, a leading developer of cutting-edge technology for the luxury fashion industry. The 3% share price rise for NFT perhaps shows the start of a rehabilitation for the company in the stock market’s eyes. The shares closed at 3.8p still below the 5p float price.
The waiting game and the stock market do not tend to go well, with it normally being the case that late news is not normally good news. This concept was illustrated well in the wake of the latest news from Providence Resources (PVR). The Ireland based resource development company said that it has terminated the farm-out agreement with SpotOn Energy for the Barryroe Licence and is progressing arrangements for an alternative funding package to finance 100% of the costs of the early development scheme for the Barryroe license. Providence will now lead the project development and funding arrangements, something which arguably should have perhaps been done in the first place, or alongside SpotOn’s efforts.
Shares of Deepverge (DVRG) were up 13% in the run up to the Skin Trust Club App. CEO Gerard Brandon tweeted that the App was uploaded to the AppStore and subject only to review before it is released. “Timing of that could be tomorrow or early next week, but the App is ready.” Last month the environmental and life science AI company said that it has enjoyed an incredibly busy period with continued growth across all business divisions: FY 2020 unaudited – organic growth – £4.4m and FY 2020 aggregated revenues £6.1m, The company also said that 2021 looks to be a promising year, with progress ramping up and particularly strong interest from China for its Microtox products, as well as the new Labskin offerings.
Having been a technical buy a couple of weeks ago, and then wobbled, it was the turn of Baron Oil (BOIL) to make good on the charting promise via a rerate of the fundamentals. Traders were pointing to an Earn In which could result in Baron receiving a 255% uplift of prospective resources with regard to Chuditch PSC. With £3m in cash raised, and the type of micro-penny share price the punters love, Baron harked back to the best days of the lockdown stock market around the turn of the year. Indeed, #BOIL was trending for a time on Twitter in the wake of the 58% shares price. Of note is that way that even after the latest fundamental speculation, the shares are still well off the best levels of early last year through 0.5p.
MGC Pharma (MXC) announced it is going to acquire 100% of worldwide pharmaceutical clinical research company, MediCaNL Inc. On completion of the acquisition, MediCaNL will design, manage and run all clinical trials for MGC Pharma in accordance with the European Medicines Agency, Federal Drug Administration, ICH Good Clinical Practice and Israeli health regulations. MGC Pharma added that the acquisition will deliver significant and immediate cost savings to the company.
On Aquis, there was CBD and hemp product supplier Love Hemp (LIFE) in focus after it announced that it has once again teamed up with the Ultimate Fighting Championship’s current Welterweight Champion, Kamaru Usman, as a brand ambassador for a further year. Love Hemp said it has been working closely with Usman for the last several years to help promote its premium CBD and hemp products and to provide Kamaru Usman with products that will aid recovery and performance. Love Hemp recently announced a five year partnership with UFC.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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