Trader’s Cafe with Zak Mir: MAC, SUR, ORR, NCCL, BOD, VAST, ONC, KEFI, ZOO, I3E, DVRG, MSYS, OCTP, LND & KAV via Vox Markets

Corporate finance firm Marechale (MAC) announce its audited final results for the year ended 30 April 2021. Having swung to a profit for the year of £246,000 compared to a loss of £37,500 in 2020 the company said its focus is to use its reputation and deal flow as a corporate finance adviser to build shareholder value.

By Zak Mir

This will be achieved by negotiating further equity and warrant positions, and joint venture arrangements as part of its terms of engagement with growth company clients.

Under the radar compliance and energy services group, Sureserve (SUR) said that two of its wholly-owned subsidiaries (K&T Heating Services Ltd and Sure Maintenance Ltd) have successfully retained a long-term contract with The Guinness Partnership. The Contract term is a minimum of 5 years and capped at 10 years, and is expected to generate a combined sales revenue of £140 million.

West Africa focused exploration company Oriole Resources (ORR) said it has completed, a Mineral Resource Estimate for Faré South that has delivered a maiden JORC-compliant Resource of 155,000 oz Au grading 1.26 g/t Au in the Inferred category, based on a 0.3 g/t Au cut off and within a US$1,800/oz pit shell. This Resource sits within a larger JORC-compliant Exploration Target estimate for Faré South of up to 280,000 oz Au grading 1.10 g/t Au. Both estimates remain open at depth and along strike.

There was a decent milestone for Ncondezi Energy (NCCL) as it announced a target signature date for the EPC power plant contract at the integrated Ncondezi 300MW coal-fired power project and coal mine in Tete, Mozambique. This has been agreed with China Machinery Engineering Corporation with signature reverted for during Q3 2021. Ncondezi said that a number of funding proposals are being considered to ensure that it is adequately capitalised to complete the next phase of the project.

Botswana Diamonds (BOD) is pleased to announce that its Okwa Diamonds joint venture with Vast Resources (VAST) has today conditionally agreed to acquire Gem Diamonds Botswana for a cash consideration of $4 million. GDB’s primary asset is the fully permitted Ghaghoo diamond mine in central Botswana which is currently under care and maintenance. BOD has an initial free carried interest of 10% in Okwa Diamonds for the first US$15 million of expenditure by Okwa, which is being funded by VAST.

Immunodiagnostics group Oncimmune (ONC) announced the pre-publication of the three-year follow-up data for the Early detection of Cancer of the Lung Scotland trial in medRxiv. The pre-publication shows that after three years, the number of late-stage cancers and deaths were lower in patients tested with the EarlyCDT Lung blood test. All-cause mortality, as well as cancer-specific and lung cancer mortality, was reduced.

Gold and copper exploration and development company Kefi (KEFI) with projects in Ethiopia and Saudi Arabia, said it has now assembled the full funding package of $356 million for the development of the Tulu Kapi Gold project. The package is designed to fund all infrastructure, the start-up of the open-pit mine and the initial development of the underground mine. Video editing platform group Blackbird (BIRD) said it has signed a deal with CBS Sports Digital for cloud video production. CBS Sports Digital will deploy Blackbird for professional, collaborative and scalable cloud video editing and publishing of sports content.

Media services group ZOO Digital (ZOO) updated on current trading and outlook for the half-year ending 30 September 2021. Revenues for the half-year are expected to be at least $25 million (FY21H1: $16.5 million), amounting to growth over the first half of FY21 of at least 51% and at least 8% over the second half of FY21 (FY21H2: $23.1 million). The improvement during the first half of the year has been due predominantly to the provision of services to support the migration of catalogue titles to streaming platforms and the associated new territory launches.

Independent oil and gas company with assets and operations in the UK and Canada, i3 Energy (I3E) said it has closed its strategic Central Alberta asset acquisition from Cenovus Energy for a total consideration of CA$65 million. The deal is expected to provide strong free cash flow and operational synergies, predictable low-decline production, and a large reserve base with multi-year development opportunities.

Fast-growing life sciences group DeepVerge (DVRG) unveiled continued progress regarding its collaboration with Microsaic Systems (MSYS) to provide real-time monitoring solutions to detect and identify contaminants in water and soil. Microsaic has launched a miniaturised mass spectrometer platform, with software upgrades using AI from DeepVerge, to achieve triple quadrupole limits of detection for real-time monitoring and identification of organic chemicals in water and soil. Microsaic said the combination of Microsaic and DeepVerge capabilities provides impressive coverage between chemicals and pathogens in our waters and soil. It believes that data-driven monitoring capability is of great interest to government, industrial and agricultural stakeholders.

Pharmaceutical company Oxford Cannabinoid Technologies (OCTP) may have been one of the companies this year to suffer from some fidgety pre-IPO investors looking to run for the exit on listing day. It provided a Pre-Close Trading Update ahead of the publication of its Final Results for the year ended 31 May 2021 which are scheduled to be released on Monday 27 September 2021. OCTP expects to report results in line with budget, with the limited impact of the pandemic and progress made on advancements across all four current drug development programmes. The company said it remains firmly on target to achieve its timeline to commercialisation as set out in its IPO Prospectus.

Highly followed Landore Resources (LND) provided an update on the progress of the drilling programme on the BAM Gold Deposit, Junior Lake Property, Ontario, Canada. Additional step-out and infill drilling within the exploration area for 800 metres to the east and along strike of the BAM Gold Deposit has continued to intersect widespread ore grade gold. The results of this drilling, together with the earlier drilling in this area will now be modelled aimed at identifying possible new shoots.

Kavango Resources (KAV) updated on its Kalahari Suture Zone Project. TA2DD002 is the second hole in the planned 6-hole programme currently being undertaken to investigate the Karoo gabbros in the Hukuntsi section of the KSZ. As of 1800 on Sunday 22 August the Hole was at 137m. Overall, with the award of 1,258km2 of new prospecting licences and working capital over £3million, Kavango said it is well-positioned to take full advantage of its strategic hold over a highly prospective region.

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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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