Part of the raison d’etre of #StockMarketWatch is to fill in the gaps left by the mainstream media.
Shares of NFT to crypto mining group Valereum Blockchain (VLRM) shone a strong light on the junior Aquis market – being among the most followed stocks of the day. Indeed, at one point the shares peaked at 43p meaning that they had doubled (bagged) in consecutive sessions. Indeed, the stock remained up on the day, some 11%, as Bitcoin reached a fresh record high and in the run up to a blow the lights out NFT IPO coming to the market next week. Indeed, bulls of VLRM can point to the company having already raised funds in February, and the run up to its OTC listing in the US – something which lit a fire under the Argo Blockchain share price at the turn of the year. With only some 64m shares in issue and key large shareholders sitting tight, the mechanics of supply and demand may continue to flow in Valereum Blockchain’s favour.
Sticking with the crypto space, and there was a 4% share price rise for Bitcoin app Mode Global (MODE). Indeed, it was all about percentages for the relative market stock market newcomer, with all the detail regarding the company’s fundamental involving % signs. Ironically, it may be the case that the shares would be 50% or 100% higher than they are currently, if Mode revealed the actual numbers behind the data in pounds and pence, rather than just percentage gains -however strong they may be. Hopefully, the message will get through soon.
A company which was a good example of how to deliver an update mentioning financials rather than percentages came in the form of healthcare services specialist Totally (TLY). Here it said it continues to make strong progress with its stated strategy of delivering a range of quality healthcare services across the UK and Ireland in partnership with the NHS and other healthcare providers. Over the course of the 12-month period it is now sporting an aggregate contract value of c. £92.5m. The icing on the cake and something which delivered a 16% jump for the shares was the revelation that as of the end of last month the company was in a healthy financial position with £14.8 million of net cash and no debt (31 March 2020: £8.9 million).
There was long awaited confirmation of the new home for breast cancer risk predictor Accustem, from Tiziana Life Sciences (TILS) as it said that its former subsidiary, Accustem Sciences Limited intends to file a listing application with the Nasdaq Stock Market shortly after completion of the distribution of shares in Accustem to Tiziana Life Sciences shareholders. The board of directors of Accustem has resolved that the Nasdaq listing venue is more appropriate to the nature of Accustem’s business.
Speaking of demergers / spin offs, and there was confirmation in this respect from Open Orphan (ORPH). The rapidly growing specialist pharmaceutical services clinical research organisation and a world leader in vaccine and antiviral testing using human challenge clinical trials, announced that it is at an advanced stage in planning for a possible spin-out of certain non-core Development IP Assets. Executive Chairman Cathal Friel said that the development and commercialisation of the non core assets can be accelerated through the Demerger, which offers the opportunity to access financing as a separate public company listed on AIM and a separate business focussed on the successful commercialisation of pharmaceutical products.
Mast Mania continues to help fellow flexible grid solutions group Corcel (CRCL), with the latter seeing its shares rise another 24% to 2.25p. The re-rate comes ahead of the imminent IPO of Mast this week, something which has finally enabled even Cinderella stock Kibo (KIBO) to feel the bullish benefit via its share price.
After an extended period of consolidation, it was finally the turn of Greatland Gold (GGP) to see its stock rise 18%. Last month the precious and base metals exploration and development company, announced that it has lodged two applications for new exploration licences adjacent to existing licences at the Company’s 100% owned Ernest Giles project in Western Australia.
Shares of Corcel (CRCL) continued their recent bull run, with a 24% share price rise to 2.25p. The ongoing re-rate here comes ahead of the Mast IPO this week, with a positive read across being the result for Corcel, also a flexible grid solutions player to the UK grid, with its 100MW energy storage at Burwell near Cambridge currently being advanced.
The recent acceleration in newsflow and profile for Charaat Gold (CGH), the AIM-quoted gold mining Company with an operating mine in Armenia and assets at various stages of development in the Kyrgyz Republic continues. The company said it has been informed that Labro Investments Limited the majority of shares in which the Company’s Chairman, Martin Andersson, has been buying stock. The result of this is that Andersson and Labro, now have 42.08% of Charaat between them. Shares of Charaat jumped another 4%.
(The opinions expressed here are those of the author, a columnist for Share Talk.)
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