Small Cap Feast – IronRidge Resources; Mkango Resources; Power Metal Resources and more…

IronRidge Resources 22p  £99.5m (AIM:IRR)

Update on drilling activities at the Ewoyaa Lithium Project, where it has defined a JORC compliant mineral resource estimate of 14.5Mt at 1.31% Li2O in the inferred and indicated category, including 4.5Mt at 1.39% Li2O in the indicated category in Ghana, West Africa.  

24 Feb 2021

@HybridanLLP

 

*A corporate client of Hybridan LLP

 

Dish of the day

No Joiners Today

Off the menu

No Leavers Today 

 

 

What’s cooking in the IPO kitchen?

AMTE Power,  a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC.

, the cross-border eCommerce technology and retail group opening up the world’s largest market for brands and retailers, intends to IPO on  the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021.

 a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring.   Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company’s premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.”

NextEnergy Renewables  to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally.  Targeting a £300m raise.   NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company’s target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021.

Digital 9 Infrastructure launch an initial public offering  on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be  published in March 2021.

Team PLC announced their plans for an AIM IPO.  Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 .   The Company is seeking to raise  no less than £5 million.  The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission.

 recently set out their plans for an AIM IPO.  Virgin Wines is a direct-to-consumer online wine retailer that sells products to retail customers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates.  Deal details TBC but media reports suggest a £100m valuation.  Targeting 2nd March Admission

Fix Price announces its intention to float on the Main Market of the London Stock Exchange.  Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company.

 announced its prospectus has been approved by the FCA.  Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT’s investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance.

According to media reports, , are expecting to release their IPO plans on 8th March.  The company raised more than $180m in January with a valuation of more than $7bn. 

 

Banquet Buffet

IronRidge Resources 22p  £99.5m ()

Update on drilling activities at the Ewoyaa Lithium Project, where it has defined a JORC compliant mineral resource estimate of 14.5Mt at 1.31% Li2O in the inferred and indicated category, including 4.5Mt at 1.39% Li2O in the indicated category in Ghana, West Africa.  

Drilling progressing well; approximately 4,200m in 40 reverse circulation  holes completed to date.

Visible coarse spodumene mineralisation observed in 36 holes to date with maximum reported pegmatite intervals up to 36m and approximating true width. Spodumene mineralisation observed in majority of pegmatite targets tested to date, showing good continuity up to 300m along strike and down dip and average pegmatite widths between 10m to 15m.

12,500m RC drilling programme designed to add resource tonnes within the immediate Ewoyaa resource area and test new exploration targets within the adjacent Saltpond license.

Ideal infrastructure support: projects located within 110km of the operating Takoradi deep-sea port, within 100km of the capital Accra and adjacent to the sealed Takoradi – Accra highway and high-power transmission lines. Highly supportive government; long mining history, strong diversification drive and pro-renewable and stored energy space initiatives.

 

Mkango Resources  20.75p  £28m ()

Commencement of flotation pilot plant test work for the Songwe Hill Rare Earths project in Malawi

· Flotation pilot plant processing has commenced at ALS Metallurgy in Perth, Australia – a new, optimised flotation regime has been developed and now scaled up as part of the pilot programme

· Preparation for hydrometallurgical pilot testing is underway at ANSTO in Australia, which will process rare earth mineral concentrate produced from the flotation pilot plant

· Design and engineering studies by lead engineer SENET (a DRA Global Group Company) are continuing in parallel, with the Songwe Feasibility Study targeted for completion in the fourth quarter of this year  

· Scoping studies for rare earth separation have been completed, and strategic options for moving forward with potential sites are being evaluated

·   Rising rare earth prices and concerns over security of supply provide a very favourable market backdrop, with accelerating demand geared to growth in green technology applications

 

1275p  £319.3m ()

AGM Trading Update from the specialist manufacturer of photonic components & systems . “During the first four months of the financial year we have seen improved levels of demand across the industrial laser sector. In line with previously reported trends there have been continuing high levels of demand for fibre optics, hi- reliability fibre couplers and our A&D capabilities. Life sciences has continued to grow strongly. Asian markets have led the recovery in industrial lasers, though US and European markets are also now demonstrating encouraging trends. The roll out of new technologies, such as 5G, has fuelled demand led growth, building on the previously reported recovery in semiconductors.”

“Our A&D order book remains robust with new UK optical system orders, which have built on our existing US A&D contracts. Medical diagnostics has continued to demonstrate good growth and we are now seeing improved levels of demand for our medical laser products, which were affected by the reduction in non- COVID-19 procedures in FY2020. “

As at 31 January 2021 the  order book was at £95.0 million (31 January 2020: £94.1 million), an increase of 1.0%, or 3.3% at constant currency, compared with the same time last year.

 

Lekoil 1.5p  £8m ()

The oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that Mayfair Assets and Trusts Limited, in which the Company has a 90 per cent. economic interest, has received a letter from Optimum Petroleum Development Company, the Operator of the OPL 310 Licence, proposing to terminate the Cost and Revenue Sharing Agreement (CRSA) executed for OPL 310.

As announced on 11 December 2020, Optimum conveyed its enforcement of the default clause within the CRSA. Pursuant to the CRSA, the default clause stipulates that, following a cure period, if a default has occurred, Optimum and Mayfair shall jointly seek and agree on a buyer to whom Mayfair’s 17.14% Participating Interest as well as the financial obligation within OPL 310 will be transferred. Mayfair will also be entitled to a full reimbursement of all amounts due to it, as a result of past costs spent on the asset, from future production proceeds from OPL 310.

The Company believes that this further letter proposing to terminate the CRSA is not valid as the relevant provisions of the CRSA have not been adhered to by Optimum. The Company will engage with Optimum to ensure that the appropriate steps outlined in the Agreement are followed, and is also seeking legal advice on the matter. Further updates to shareholders will be provided in due course

 

2.55p  £28.3m ()

The metals exploration and development company announced that following due diligence work the Company has exercised its option to acquire the Coco East Property located on the prospective Schreiber-Hemlo Greenstone Belt in north-western Ontario, Canada. Coco East is the second of four gold exploration properties upon which the Company has an exclusive option to acquire a 100% interest,  and follows the McKellar option exercise which was announced 18 February 2021.

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:  

“Exercising the Option over the Coco East Property further strengthens Power Metals’ landholding in Ontario, following directly on from the acquisition of the McKellar Property which was announced last week. 

Coco East is sited upon the eastern end of the Big Duck Lake Porphyry intrusive which is associated with over twenty known gold and/or base metal occurrences including significant gold intersections which were drilled in a neighbouring property during 2017. The property is also directly east of Superior Lake Resources’ Pick Lake / Winston Lake Zinc Project which is currently advancing towards a high grade zinc mine restart.

We are continuing our due diligence review of the remaining two option properties and will provide a further update in due course .”

 

KRM22  42p  £11.2m ()

The technology and software investment company, with a particular focus on risk management in capital markets, announced a partnership with Kintail Consulting, a business offering consulting services in strategy creation, execution and organisational transformation, to address the critical area of People and Culture Risk in capital markets.

The scope of the challenge is extensive as systems and processes have been established over years often within siloed departments.  In line with KRM22’s mission to bring increased transparency and lower cost risk management to capital market organisations, the partnership with Kintail Consulting will focus on bringing together the multitude of strands into a single integrated Risk Cockpit based on KRM22s existing offering.  This will allow Human Resources professionals to have a holistic view of all People and Culture objectives, initiatives, operational processes and risk including oversight across compliance obligations.

Kintail Consulting was established in 2012 to help organisations achieve success through the continued development of leadership and a culture that reflects the organisations vision and values.  They believe that the management of People and Culture risk is a key component in ensuring organisational success.

 

Drumz 0.625p  £2.16m ()

Acuity Risk Management Limited, in which Drumz has a 20% shareholding with an option to acquire a further 5%, has launched a significant upgrade to its STREAM™ Integrated Risk Manager (IRM) software product which is used by private and public sector clients to manage their cyber security and other Enterprise risks. 

Acuity’s STREAM™ Cyber Risk Platform ranks highly against competitor solutions for IT Risk Management with a 5-star rating in Gartner’s 2021 Peer Insights review of recent software buyers. 

 

Omega Diagnostics 86p  £156.3m ()

The medical diagnostics company focused on CD4, infectious diseases and food intolerance, notes  the press release issued today by the UK Rapid Test Consortium, of which Omega is a partner, which presents new data relating to the performance of the AbC-19TM rapid antibody test when used as a companion diagnostic to the -BioNTech COVID-19 vaccine. The initial study performed at the University of Birmingham highlighted the effectiveness of the AbC-19TM rapid antibody test in demonstrating immune response following vaccination.

 

FireAngel Safety Tech 18p  £22.8m ()

The  developer and supplier of home safety products, announces that it is to supply connected smoke, heat and carbon monoxide alarms to a social housing customer in Scotland.

FireAngel will supply approximately 4,000 properties with the Group’s wireless interlinked mains-powered and battery-powered smoke, heat and carbon monoxide alarms. The contract is expected to be fulfilled over the next 18 months with revenue estimated to be nearly £0.5m over the period.

 

Alba Mineral Resources 0.305p  £19m ()

Update on the latest planned phase of work at the Company’s Dolgellau Gold Exploration Project  in north Wales.  – The next phase of work over the Dolgellau Gold Field will involve stream sediment sampling, designed to identify hard-rock gold sources upstream of the sampling locations

This programme represents the first field work to be carried out over the Company’s Gwynfynydd exploration licence area since the Company was awarded the Gwynfynydd licence in November 2020

 

 

Head Chef

Derren Nathan

0203 764 2344

derren.nathan@hybridan.com

If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”.

 

Status of this Note and Disclaimer

This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific entity and is not a personal recommendation to anyone. Recipients should make their own investment decisions based upon their own financial objectives and financial resources and, if any doubt, should seek advice from an investment advisor.

The information contained in this document is based on materials and sources that are believed to be reliable; however, they have not been independently verified and are not guaranteed as being accurate. This document is not intended to be a complete statement or summary of any securities, markets, reports or developments referred to herein. No representation or warranty, either express or implied, is made or accepted by Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information in this document nor should it be relied upon as such.

Any and all opinions expressed are current opinions as of the date appearing on this document only. Any and all opinions expressed are subject to change without notice and Hybridan LLP is under no obligation to update the information contained herein. To the fullest extent permitted by law, none of Hybridan LLP, its members, directors, officers, employees, agents or associated undertakings shall have any liability whatsoever for any direct or indirect or consequential loss or damage (including lost profits) arising in any way from use of all or any part of the information in this document.

This document is sent to you as market commentary only. As market commentary this document does not constitute any of (i) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments for the purposes of the UK retained version of section B of annex I to Directive 2014/65/EU (“MIFID II Directive”); or (ii) investment research as defined in the UK retained version of article 36(1) of Commission Delegated Regulation 2017/565/EU made pursuant to the MIFID II      Directive; or (iii) non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook).

This document should not be relied upon as being an independent or impartial view of the subject matter. The individuals who prepared this document may be involved in providing other financial services to the company or companies referenced in this document or to other companies who might be said to be competitors of the company or companies referenced in this document. As a result both Hybridan LLP and the individual members, officers and/or employees who prepared this document may have responsibilities that conflict with the interests of the persons who receive this document. Hybridan LLP and/or connected persons may, from time to time, have positions in, make a market in and/or effect transactions in any investment or related investment mentioned herein and may provide financial services to the issuers of such investments.

In the United Kingdom, this document is directed at and is for distribution only to persons who (i) fall within article 19(5) (persons who have professional experience in matters relating to investments) or article 49(2) (a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (SI 2005/1529) (as amended) or (ii)  persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) of Hybridan LLP (all such persons referred to in (i) and (ii) together being referred to as “relevant persons”). This document must not be acted on or relied up on by persons who are not relevant persons. For the purposes of clarity, this document is not intended for and should not be relied upon by any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.

Neither this document nor any copy of part thereof may be distributed in any other jurisdictions where its distribution may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Distribution of this report in any such other jurisdictions may constitute a violation of territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.

Hybridan LLP and/or its associated undertakings may from time-to-time provide investment advice or other services to, or solicit such business from, any of the companies referred to in this document. Accordingly, information may be available to Hybridan LLP that is not reflected in this material and Hybridan LLP may have acted upon or used the information prior to or immediately following its publication. In addition, Hybridan LLP, the members, officers and/or employees thereof and/or any connected persons may have an interest in the securities, warrants, futures, options, derivatives or other financial instrument of any of the companies referred to in this document and may from time-to-time add or dispose of such interests.

This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.

Hybridan LLP is a limited liability partnership registered in England and Wales, registered number OC325178, and is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Any reference to a partner in relation to Hybridan LLP is to a member of Hybridan LLP or an employee with equivalent standing and qualifications. A list of the members of Hybridan LLP is available for inspection at the registered office, 2 Jardine House, The Harrovian Business Village, Bessborough Road, Harrow, Middlesex HA1 3EX.



Source link

Add a Comment