Traders Cafe with Zak Mir: CGH, FAB, MSYS, MBT, AEX, PALM, SYM, CNR & IOF via Vox Markets

There was a new man at the top for Chaarat Gold (CGH), as the AIM-quoted gold mining said thatMike Fraser had been appointed to the Chaarat board as Chief Executive Officer with effect from 17 January 2022.He was formerly Chief Operating Officer of ASX-listed South32 Limited, and brings this blue chip experience to CGH.

By Zak Mir

Pre-clinical antibody discovery group Fusion Antibodies (FAB) served up an AGM statement. It said that during the current financial period, revenue growth has been consistent compared to the previous financial period and in line with expectations. Customer enquiries for all of the company’s services remain robust, and the OptiMASTM platform has been a key element in securing new business.

Nass spectrometry instruments and solutions group Microsaic Systems (MSYS) announced it has signed an agreement with Jiangsu Henzhihe Technologies, to support the company’s relationship with the Chinese distributor for its micro-engineered MS technology. Under the agreement, HZH will provide integration and service support for Microsaic’s operations in China.

It was time to raise your sombrero to Tortilla, the largest Mexican restaurant group in the UK. It announced its intention to seek admission of its shares to trading on AIM. Tortilla specialises in the sale of freshly made Californian-inspired Mexican cuisine. The Group has 62 sites worldwide, comprising 50 sites in the UK operated by the Group, two sites franchised to Select Service Partners UK Limited in the UK, and 10 franchised sites in the Middle East. Apparently, the brand is synonymous with an “energetic, vibrant culture, and with providing a great value-for-money proposition.”

Instant communication mobile solutions to the enterprise market, Mobile Tornado (MBT) said it has extended the Revolving Loan Facility agreement with InTechnology Plc, The Facility Agreement was due to expire on 26 September 2021 and has been extended for a further 12 months until 26 September 2022. All other terms of the Facility Agreement remain unchanged.

Aminex (AEX) announced that the Ruvuma joint venture has awarded the seismic acquisition contract to Africa Geophysical Services Limited. The award follows an extensive tendering exercise conducted by ARA Petroleum Tanzania Limited for the seismic programme. AGS intends to commence activities in the Ntorya location from October 2021. The acquisition will consist of approximately 338 km² of 3D seismic data focusing on the area of primary interest. AGS will mobilise and focus on the proposed location for the Chikumbi-1 well to acquire as much data as possible before the start of the rainy season with the programme re-commencing after that with no additional cost to the JV partners.

Panther Metals (PALM) unveiled a half year report. The company said that towards the end of the period it completed its first JORC Exploration Target of 30Mt-50Mt at 0.6-0.8% nickel and 400-600ppm cobalt on the Coglia deposit, which occurs at the far southern end of the Merolia Project. This identified a stand-out opportunity for the Company in a set of commodities which are receiving increased attention for their use in battery technologies. While the mineralisation identified to date has been determined as lateritic, there is evidence for sulphide mineralisation contained within the underlying ultramafic volcanic rocks, which are yet to be tested systematically.

Global science-based sustainable plastic and rubber products group Symphony Environmental (SYM) unveiled an equity subscription for 2.5m shares by Vincel Investment Holdings Limited, at a price of 30p. Gross proceeds from the Subscription are £750,000. The Subscription Price represents a premium of approximately 13 per cent. to the closing price of 26.50p on 23 September 2021. 2.5 million warrants have been granted to Vincel at an exercise price of 40p and are exercisable for six months from completion of the Subscription.

Condor Gold (CNR) announced that the first phase of infill drilling of 39 drill holes for 3371.58 metres using diamond core drilling has been completed on the Mestiza Open Pit and all assay results received. The company said the results of the infill drilling are consistent with previous drilling grades and widths, demonstrating good continuity in gold mineralization between adjacent drill holes in the high grade zones and add confidence to the geological model.

Exploration and production of iodine specialist Iofina (IOF) revealed its Interim Results for the six months ended 30 June 2021.The company said that despite H1 iodine production being impacted by extreme winter weather and lower brine supply from ita oil and gas partners, it has had sufficient production and reserves to take advantage of demand. The chemicals division continues to excel with its product range and capabilities, On the current trajectory, the company is confident of producing 260-275MT of crystalline iodine in the second half and anticipate IO#9 construction to begin before year-end.

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