Hybridan Small Cap Feast

8 mins. to read
Hybridan Small Cap Feast

Joiners: No joiners today.

Leavers: Altona Rare Earths has left the Standard Segment of the AQSE Growth Market.

Forbes Ventures has left the Access Segment of the AQSE Growth Market.

Banquet Buffet

Atlantic Lithium 27.6p £167.2m (ALL.L)

The funded African-focussed lithium exploration and development company targeting to deliver Ghana’s first lithium mine announces the commencement of auger drilling at the Ewoyaa Lithium Project (Project). The Company intends to focus on 20,000m of auger drilling over a five-month period to test multiple targets identified within the Project area and broader Portfolio; with four auger rigs active to test for and define pegmatite footprints. Passive seismic geophysics survey to test for potential concealed pegmatite targets. The Company is pushing ahead to achieve production and benefit from the ongoing lithium demand expected over the coming years.

Bigblu 62.5p £56.6m (BBB.L)

A provider of alternative super-fast and ultra-fast broadband services announces its audited results for the period ended 30 November 2022. Revenue increased 15.1% to £31.2m (FY21: £27.1m), adjusted EBITDA improved by 11.4% to £5.1m (FY21: £4.6m), adjusted profit after tax was £2.6m (FY21: 2.5m), and the Company held net cash of 4.2m (FY21: £5.2m) after a payment of £1.2m following the acquisition of Clear Networks (Pty) in January 2022. On 21 December 2021, the Company signed a Distribution Partner Agreement with OneWeb, to distribute low Earth Orbit satellite based broadband services and the Board remains focused on maximising value and returns for shareholders.

Corcel 0.29p £2.3m (CRCL.L)

The extractive industries exploration and development company with interests in battery metals announces its unaudited half-yearly results for the six months ended 31 December 2022. Corcel has broadened its strategy to include oil and gas. The Company has restructured its PNG nickel assets, positioning them in a broader portfolio, acquired and subsequently farmed out the Mt. Weld project in Western Australia and completed a series of asset sales, including the Tring Road and the Burwell projects. The Company is therefore now positioned with near term, and potentially transformational, news flow from both Mt Weld and potential oil and gas acquisitions.

Directa Plus 84.5p £55.8m (DCTA.L)

A producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets has been granted an Italian patent for its G+® graphene technology for air-filtering applications. The patent covers the use of G+® for automotive, heating, ventilation and air conditioning (HVAC) applications. G+® graphene has benefits due to its antibacterial and antiviral qualities that maintain filter cleanliness.

Genedrive 41.75p £38.6m (GDR.L)

The point of care molecular diagnostics company announces that the Genedrive® MT-RNR1 ID Kit is in process for roll out at two further hospital sites in the North West NHS. The Genedrive®MT-RNR1 ID Kit helps to avoid irreversible lifelong hearing loss in specific infants exposed to aminoglycosides by detecting the m.1555A>G gene variant that can cause deafness. The implementation project is scheduled to commence in April.  Once fully subscribed at this regional level, the test would be available when needed to c.30k new born babies over the next NHS fiscal year, of which 10-12% are modelled to be admitted to a regional neonatal unit.

Great Southern Copper 1.2p £2.6m (GSCU.L)

The company focused on copper-gold exploration in Chile announces that the results from its scout drilling programme at the Cerro Chinchillon prospect confirm the discovery of a large intrusive-related copper-gold mineralised system.  Mineralisation hosted in monzonite intrusives with grades up to 1.65% Cu and 3.62g/t Au and elevated Cu grades (> 300-500ppm Cu) within drill-tested monzonitic intrusions indicate they are an important control to the intrusive-related type Cu-Au mineralisation. The Group’s ongoing regional exploration efforts are identifying new targets which require further prospect-scale exploration.

Serinus Energy 7.4p £8.2m (SENX.L)

An international upstream oil and gas exploration and production company that owns and operates projects in Tunisia and Romania announces its annual financial results for 2022. Revenue for the year end was $49.3m (2021 – $40.0m) EBITDA was $12.7m (2021 – $12.3m), and the Group’s operating assets remained comprising: Romania – $181.57/ boe (2021 – $52.44/boe) and Tunisia – $54.34/boe (2021 – $29.77/boe). The Company initiated a comprehensive block wide Geological Review engaging RISC Consultancy and the Board remains focused on delivering value for their shareholders.

Spectra Systems Corporation 150p £76.3m (SPSC.L)

The Company focused in machine-readable high speed banknote authentication, brand protection technologies, and gaming security software, announces its results for the twelve months ended 31 December 2022. Revenue of $19.6m (2021: $16.5m) up 18%, adjusted EBITDA up 17% at $8.1m (2021: $6.8m), adjusted profit before tax up 17% to $7.7m (2021: 6.6m) and the Company held cash of $17.4m (2021: 16.7m). The Board believes that the Company is on track to meet market expectations for 2023.

Ten Lifestyle Group 92.3p £77.3m (TENG.L)

The platform driving customer loyalty for global financial institutions and other premium brands announces its trading update for the six months ended 28 February 2023 (H1). Half year revenues expected of c.£30.9m, c.49% above prior year (H1 2022: £20.8m), adjusted EBITDA for H1 is expected c.£5.0m (H1 2022: £0.9m), and the Group’s cash position was c.£7.2m (FY 2022: £6.6m), with net cash of c.£0.5m (FY 2022: £3.2m). The Group has continued its investment in technology and proposition throughout the period to drive improvements.

Xeros Technology Group 4.3p £6.5m (XSG.L)

The creator of technologies that reduce the impact of clothing on the planet announces the signing of a third licensing agreement for its XFilter filtration technology with another global component manufacturer. This third agreement further increases Xeros’ market access, with potential to deliver substantial revenues over the term of the license. Under the 10 year non-exclusive agreement, the Partner is licensed to manufacture and sell filters incorporating Xeros’ proprietary XFilter technology on a global basis. As with the first two agreements, Xeros will receive a royalty per filter device sold by the Partner.

What’s cooking in the IPO kitchen?

Ocean Harvest Technology Group plc, a commercial scale producers of seaweed blend ingredients for the animal feed market intends to join AIM. The main country of operation is Vietnam where the Company’s main production and processing facility is located. The Company is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam. Expected Admission date 29th March 2023.

M7 Box+ REIT plc, a newly established, externally managed closed-ended investment company announces that it intends to join the Wholesale segment of IPSX. Upon Admission, the Company proposes to acquire a portfolio of seven let and operational e-warehouses from M7 Box+ II LP. As at 31 December 2022, the Property Portfolio was valued at £228.9m. Expected Admission April 2023.

Altona Rare Earths, a mining company focused on the development of a significant Rare Earth Elements (REE) mining project in Africa, announced its intention of withdrawing from the AQSE Growth Market to the Standard Segment of the Main Market. The Company has just raised £2m and plans to use the proceeds to complete its maiden JORC compliant Mineral Resource Estimate and a Scoping Study for its Monte Muambe Rare Earths mining project in northwest Mozambique. Admission Delayed. A further update will be provided once the date of Admission, currently expected to be towards the end of March 2023, is confirmed.

Fadel Partners, a developer of cloud based brand compliance and rights and royalty management software, working with some of the world’s leading licensors and licensees across media, entertainment, publishing, consumer brands and hi-tech/ gaming companies intends to join the AIM market. FADEL has two solutions, being IPM Suite and Brand Vision. Expected Admission late March 2023.

Onward Opportunities Limited intends to join the AIM market. The Company’s investment objective is to generate returns for Shareholders through investments in equity and equity-related instruments of UK smaller companies that are predominantly listed or admitted to trading on markets operated by the London Stock Exchange. Expected Admission mid-March 2023.

*A corporate client of Hybridan LLP

** Content not provided by Hybridan LLP

This document has been prepared 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).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *