Trader’s Cafe with Zak Mir: JLP, CYAN, KAT, IXI, VLG, CASP, SAR, PANR, BBSN, EISB & XPD via Vox Markets

Metals processing group Jubilee Metals Group (JLP) continues to underline its cash making skills, announcing its unaudited operating results for the six months to 30 June 2021.

By Zak Mir

These showed a year-on-year operational earnings increase of 178 % and a revenue increase of 133%. Combined attributable operational earnings in H1 2021 of £40.1 million (up 36% from H2 2020) resulting in a 178% year-on-year increase in combined attributable operational earnings to £69.6 million for FY 2021. Jubilee said its revenue and earnings growth was achieved during a period of substantial infrastructure investment, integration and planned operational downtime providing a platform for further future growth.

Jubilee achieved its stated target of 50 162 PGM2 ounces for FY 2021 (up 23% compared with 40 743 ounces for FY 2020) during a period which included the construction and commissioning of two new Chrome Beneficiation facilities and the commencement of the construction of the expanded Inyoni PGM operations, expected to be completed during Q3 2021.

CyanConnode (CYAN), a specialist in Narrowband Radio Frequency Smart Mesh Networks, announced its audited results for the year ended 31 March 2021. Operational highlights here included 481,000 modules shipped against current contracts during the period (FY20: 86,000). Orders for 350,000 Omnimesh modules were worth more than £6 million. A previously delayed Indian contract resumed worth c. £10.5m.

AIM-listed gold and nickel exploration and development company Katoro Gold (KAT) updated the market regarding its two projects, The Blyvoor Joint Venture project and the Haneti Nickel PGM project. At the JV Investor and lender, agreement negotiations are due to be completed and the final funding arrangement for BV concluded during the latter part of 2021. At Haneti the company confirmed that planning for the campaign has been completed.

Data analytics company Ixico (IXI) said that despite a challenging business environment, it expects to deliver £8.7m in FY21 revenues, resulting in an EBITDA of approximately £1.2m. This maintains EBITDA margin in line with the prior year (FY20: 14%). The company’s focus is on converting identified opportunities into signed contracts, whilst simultaneously delivering its strong order book (£19.5m at 30 June 2021).

Self-care market specialist Venture Life (VLG) said that it has acquired a series of oncology support product assets from Helsinn Healthcare for a total consideration of approximately £4.7 million. The acquisition is expected to be immediately earnings enhancing, comprising three on-market products within the area of oncology support, as well as all the associated IP and existing customer relationships in relation to the Brands.

Caspian Sunrise (CASP) revealed a strategic, financial and operational update. Production from the BNG Contract Area is currently running at the rate of 1,950 bopd, with 100% coming from 8 wells on the MJF structure. Caspian said the success of its first horizontal well demonstrates what may be possible on the two shallow structure at BNG, namely the MJF and South Yelemes, both of which should have full international licences by October 2021. The intention is to clear the way for the commencement of dividend payments, something which is expected to lead to an increase in the interest in the Group’s shares.

Specialist drug development company Sareum (SAR) said it notes that Sierra Oncology, the licence holder for SRA737 (a novel Chk1 inhibitor), has just held an investor call to discuss its newly announced global in-licensing agreement with AstraZeneca for AZD5153, a novel BRD4 BET inhibitor, to expand its myelofibrosis pipeline. SRA737 was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK. SRA737 was licensed to Sierra in September 2016.

There was a positive TR1 boost for Pantheon Resources (PANR) where Farallon Capital Management has increased its stake in the company from 17% to 21%. Last month the Alaska-focused oil & gas company said it was discussing potential farmout opportunities, after upgrading its resource estimate for the SMD area in its Talitha #A well.

Social media and marketing group, Brave Bison (BBSN) announced its unaudited interim results for the six months ended 30 June 2021, and highlighted one of the better fundamental inflection points, the swing from loss to profit. Adjusted EBITDA was a profit of £0.5 million (H1 2020: negative adjusted EBITDA of £0.4 million). Net cash as at 30 June 2021 of £2.9 million (30 June 2020: £2.1 million). Profit before tax of £0.2 million (H1 2020: loss of £1.4 million). The company said it continues to be profitable on a month by month basis and has now been cash generative in two consecutive half year periods.

Premium beverages group East Imperial (EISB), the former Bermele, said it has reached a supply agreement with Dan Murphy’s, one of Australia’s largest and most-respected alcoholic beverage retailers. Under the terms of the agreement, East Imperial will supply its premium tonics range for sale across Dan Murphy’s 245 national stores as well as through its online channels.

Freight management services group Xpediator (XPD) whose shares have been rallying strongly of late, announced it has formed a strategic partnership with Synergy Retail Support Limited. Xpediator said demand for Synergy’s services is high. Under the new partnership, Synergy will utilise the currently vacant space in Xpediator’s warehouse in Braintree to expand. Already, some of Synergy’s clients have taken space in Braintree with discussions also underway for further clients to utilise space.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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