This Week’s Stock Risers On News
Perhaps the most surprising gainer of the week on news was Premier African (PREM), not because of the reaction to the news, but the fact that the company’s Zulu lithium plant has restarted. Just to prove that he is something of a Moses figure, it was up to George Roach as outgoing CEO to share the good news. Shares of PREM were up 103% on the week. Shares of Wishbone Gold (WSBN), which has apparently become in some people’s eyes, the new Greatland Gold (GGP), was up 91% on the week. Apparently from the shares hitting ZaksTradersCafe 0.28p, 0.5p and 0.72p charting targets in the past couple of weeks, the company was able to announce that it has applied for 12 new exploration tenements all within a 30km radius of Greatland’s operating Telfer gold mine in Western Australia. It would appear that WSBN Chairman Richard Poulden is finally going to hit the big time.
Futura Medical (FUM) reminded us of one of the reasons that the London market will never be a world beater: the cold water RNS. This is one of the most infuriating aspects of the small cap area, and something which should be abandoned as a rule. For a listed company to have to explain why there has been significant buying in its stock, the very reason one gets listed is ridiculous. What’s next? For anyone over the age of 70 to explain why they are still alive? The same Alice In Wonderland / Monty Python style forced RNS was delivered from gemstones miner Gem Resources (GEMR). Its shares were up 42%. I would have said “we no of no reason for the share price rise other than we are an excellent company, and that Zak Mir has a 0.75p technical target on a 3 month view, versus 0.25p now.”
Although one wonders if Conroy Gold (CGNR) will ever find a world class asset of scale, this week it took a step in the right direction with the revelation of “excellent results from the Company’s sampling programme which has led to the discovery of five additional gold anomalies along the Skullmartin gold trend, which now extends to over 30km in length running Northeast to Southwest in the Longford – Down massif in Ireland.”
There was a Doctor Who style transformation at TechFinancials (AQSE: TECH). It said it has entered into an Acquistion Agreement with Kenyan-based investment banking and corporate finance company Gathoni Muchai Investment Company Ltd to acquire up to a 60% majority interest in the Dilotiko High-Grade Iron Ore Project located in Taita Taveta County in Kenya. The market took this well, understandably, with a 75% gain for the shares on the week. Also on the Aquis market, Mendell Helium (AQSE:MDH), one of the newer BTS companies, felt the love with a 20% share price gain, as Hot Rocks (AQSE:HRIP) took a 6.5% stake in the company. The surge in Coinsilium (AQSE:COIN) and Smarter Web (AQSE:SWC) was not only off the back of the surge in Bitcoin, but in the case of the former the Chairman’s Statement and increased headroom, and the latter, further Bitcoin purchases (nearly £22m worth at $108k) which are already well on side.
Shares of Solvonis (SVNS), a clinical-stage biopharmaceutical company developing novel medicines for addiction and mental health disorders, saw its shares up 10% on the £1m placing price of 0.3p. Such instant premiums on fundraises are normally regarded as decent thumbs up from the market. This was hardly surprising given that the proceeds are to be used to accelerate the company’s AI drive drug discovery programme. The key focus is on developing alcohol addiction and PTSD treatments.
Stocks Rising On No New News
Although we may have been led to believe by the odd crackpot blogger with the motive of saying whatever it takes to make a stock go down that Argo Blockchain (ARB) is a duster, the shorters who wish to profit from defamation may have to wait a little longer. The shares were up by 45% on no new significant news. Perhaps ostensibly being a Bitcoin miner at a time when the cryptocurrency is going through the roof has made people look at the company more favourably? This is despite whatever the debt position of ARB may be.
Agronomics (ANIC) rose 26.9% on the week. The last we heard from the lab grown food specialist was the June Newsletter. That said, the launch of Meatly’s dog treat in February clearly still has some investors salivating.
Up on no RNSs at all was African Pioneer (AFP). Last month the exploration and resource development company announced that it has received the official, unconditional Mining Licence (ML 240) until 23 March 2045 for its 85%-owned Ongombo Copper-Gold Project, located approximately 40 km northeast of Windhoek in the Khomas Region of Namibia. Clearly, both gold, and now especially copper are now through the roof.
Highly followed Mirriad Advertising (MIRI) managed a 66% jump. The last we heard was that losses had decreased, but that a new CEO had been appointed at the advertising and product placing form. Mercantile Ports (MPL) appeared to have a belated positive reaction to full year results at the port developer, with a 77% advance. One suspects that the quantum of the rise suggests slow reactions are not solely at play.
Stocks That Should Have Risen On News
If I had Uncle Sam investing in my mining project I would be rather chuffed to say the least. This is the situation at Blencowe Resources (BRES) announced receipt of a further $0.75 million tranche of grant funding from the US International Development Finance Corporation (“DFC”). This brings total funds received under the overall US$5.0 million technical assistance grant to $4.75 million (95%). BRES said “The final tranche of $0.25 million will be paid upon completion of the Definitive Feasibility Study.”
Ajax Resources (AQSE: AJAX) the natural resources investment company, updated on various corporate and operational developments. They included the Environmental Impact Study (“EIS”) for the Eureka copper and gold project in Argentina. The second closing of a Subscription anticipated to occur on or around 25 July 2025, and the intention to list on Euronext Growth Oslo. The shares were flat on the week, even though the company has bought Eureka for a song, has expanded the footprint, and of course is focused on a copper / gold project, currently the hottest area of metals exploration.
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The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
