Trader’s Café With Zak Mir: The Week In Small Caps, Sunday 12th February 2023

Fulcrum / Panther

Author @ZaksTradersCafe

Hallelujah, we have a successful IPO coming to the stock market this week. Apparently, it will be listed on AIM on Valentine’s Day too, so even more to celebrate. In fact, it is perhaps not too surprising that Fulcrum Metals (FMET) has gotten over the line when rather too many of late are still in the waiting room.

The management of CEO Ryan Mee, and director Aidan O’Hara, are “been there, done that” people, and the assets in Canada, next to producing zones or rich deposits. But perhaps the most interesting part of the story here is the effect on Panther Metals (PALM).

Post the IPO and £3m raise, Panther has 20% of Fulcrum, with a value of some £1.75m, plus a chunky number of warrants at the 17.5p listing price and 26.5p. Oh, and PALM retains a 2% net smelter return royalty over the Big Bear Project and is on the receiving end of a £200,000 cash payment from Fulcrum.

So on this basis, one would clearly expect FMET to get off to a good start this week, and also have expected all of these developments to really give the PALM share price a decent boost. Well, so far, not quite. In fact, it is quite a head-scratcher as to why the share price of the company is near its lows for the year. Of course, it could be the case that the market is just waiting for Valentine’s Day, to see how everything goes. But the reaction is harsh, even by 2023 standards.


Another company which has been treated somewhat harshly, in this case, since its IPO, has been Cizzle (CIZ). This is said, even on the basis of London investors generally giving any stock in the biotech area something of a haircut, purely because it is not a resource play.

However, it has been pointed out to me and was something which I was already aware of, that a lot of progress has been made by Cizzle since the spring of 2021 when it came to market. Perhaps the most obvious of these of late was November’s news of a clinical study for lung cancer detection in China. While we may be seeing the first stirrings of share price movement in reaction to this in recent weeks, this seems to be another situation where investors have been slow off the mark.


Finally, I usually mention one or two of the stocks I have interviewed over the week. Interestingly enough, during the week I received the critique that most of my interviews with companies are around 7-8 minutes. Well, this is my preferred length for a short-form interview. While one could go on for a 20-30 minute stint, I prefer that for webinars where one has the visual impact. Earlier in the week I interviewed Charles FitzRoy, CEO of Bradda Head Lithium (BHL).

What was of note here is that despite the progress made by the company of late, the shares unlike most of its peers are near recent lows. This is despite the way that is based in the USA and has well-located assets, it does have something of a head start over rivals. Perhaps, value investors in lithium will divert from some of the recent outperformers, and take a look at Bradda.

Author @ZaksTradersCafe

Disclaimer & Declaration of Interest
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.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.