Hybridan Small Cap Feast

10 mins. to read
Hybridan Small Cap Feast

While we were away….

One more joiner

Citius Resources Plc (CRES.L), an investment company seeking to acquire a company or project in precious and/or base metals joined the Main Market (Standard) raising £1.12m at 4p.

And one more leaver

Amiad Water Systems has left AIM.

Enjoy the long weekend. We will resume full service on Tuesday.

Banquet Buffet

Aura Energy 5.25p  £20.8m (AURA.L)

Further to the Company’s announcement on 9 August 2021 regarding the successful completion of gravity surveys over the Tasiast South gold and battery metal tenements, Aura Energy has presented preliminary results of the first of the planned gravity field surveys on its Tasiast South tenements. The gravity data will allow better definition of geology, the identification of structures likely to be of relevance to gold deposition and the possibility of direct detection of sulphide mineralisation on the nickel/cobalt targets. The Company also announced that water drilling is underway at Tiris and Aura is confident that the program will continue the previous results from Water Drilling undertaken by Aura in 2019.

Bezant Resources 0.19p  £7.3m (BZT.L)

The copper-gold exploration and development company, further to its announcement on 2 August 2021 regarding its exclusive option agreement with Caerus Mineral Resources PLC (LON: CMRS) to allow the parties to review Caerus extensive portfolio of copper / gold projects in Cyprus with a view to possible joint venture mining operations confirmed that the parties have selected the Projects for the initial exploration and, if appropriate, mining development. The selected projects comprises of the Troulli, Kokkinapetra and Anglisides licences. Having selected the properties the Parties intend to hold site meetings during early September 2021, to agree exploration and assessment programmes. During the site visit the parties will develop a primary exploration plan, which initially will be reconnaissance, testing depth and strike continuity. During the visit all other matters relevant to development will be considered to allow early conceptual project design. Other projects within the Option Agreement will be visited and the Parties will develop a lead table of opportunities.

D4T4 Solutions  370p  £149m (D4T4.L)

AGM statement from the Company whose software enables businesses to make smarter, informed decisions via Celebrus, its flagship first party product suite. The Group continues to trade in line with the Board’s expectations; the business is delivering against its key KPIs and is well positioned in its core markets. D4t4’s investment in the rollout of its new Celebrus Fraud Data Platform (FDP) and enhanced Celebrus Customer Data Platform (CDP) continues. Following the acquisition of Prickly Cactus, a data and analytics consultancy on 2 August 2021, the integration of the team is going well. D4t4 has also commenced a marketing and PR campaign, particularly focused on raising the profile of Celebrus products in the US market.

eEnergy 19.5p  £48m (EAAS.L)

The Energy Efficiency-as-a-Service business in the UK and Ireland, announced the Group’s first contract win to provide solar power together with LED lighting in a single contract. The contract is with British Gaskets Limited, a UK based international manufacturer and supplier of gaskets, seals, plastic and rubber mouldings and materials. The initial, single site contract covers a solar power system, together with LED lighting, with a contract value of approximately £0.4m. Over the 20 year lifetime of the system, the Board anticipates a total customer cost saving, at today’s prices, of almost £1.4m and a reduction of CO2 emissions of approximately 576,000 tonnes. The Board continues to expect trading for the year ended 30 June 2022 to be in-line with current market expectations.

Eurasia Mining 15.75p  £443m (EUA.L)

The palladium, platinum, rhodium, iridium and gold producing company, announced progress update on the Nyud project. As announced via RNS of 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine PGM and battery metals assets (four of which are post Russian Feasibility Study with state approved reserves) with a total of 104.6Moz of Platinum equivalent Russian Code reserves and resources in the immediate vicinity of the Company’s Monchetundra Project in the Kola Peninsula. As further announced on 15 June 2021, Monchegorskoe LLC was created to hold the licence for the Nyud open pit PGM and battery metals deposit. Eurasia’s 100% subsidiary Yuksporskaya Mining Company / Yuksporskaya Gornaya Kompaniya (YGK) has signed a notarised agreement with Rosgeo group company pursuant to which YGK will become a 75% shareholder in Monchegorskoe LLC after the licence for Nyud is transferred from Rosgeo to Monchegorskoe LLC. Pursuant to the terms of this agreement Eurasia, through YGK, will also have a right to acquire Rosego’s 25% shareholding in Monchegorskoe LLC upon the completion of a JORC Code compliant competent persons report  on Nyud. Additional drilling has recently been completed on Nyud at Rosgeo’s cost and Eurasia has engaged Wardell Armstrong International in relation to Nyud to among other things: Audit the quality assurance and quality control procedures; Review the block modelling and open pit optimisations; and· prepare CPR under the JORC Code.

Invinity Systems 123.5p  £107.3m (IES.L)

The global manufacturer of flow batteries, welcomed Fiona Hyslop, MSP for Linlithgow Constituency and deputy convener of the Net Zero Scottish Parliament Committee who visited the Company’s Bathgate manufacturing facility yesterday. Invinity manufactures utility-grade energy storage systems which utilise patented Vanadium Flow Battery  technology, one of the leading alternatives to lithium-ion battery technology, to accelerate the deployment of renewable energy globally. To date, the Company has over 25 megawatt-hours (MWh) of its batteries installed or under contract for delivery at more than 40 sites worldwide, including pioneering projects in Scotland, England, the USA and Australia which are currently under construction. In line with growing demand for its products, the Company has more than doubled its global manufacturing capacity since the beginning of the year, utilising growth capital raised in late 2020 to expand its global manufacturing facilities, including its factory in Bathgate, West Lothian.

Scancell Holdings 21.25p  £173m (SCLP.L)

The developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces that the UK’s Medicines and Healthcare Products Regulatory Authority (MRHA) has approved the clinical trial application (CTA) to initiate the first-in-human Phase I/II clinical study of Modi-1. The Company expects to enrol patients into the study in H2 21, following ethics committee sign-off. Initial safety/tolerability data from the initial open label portion of the trial could be available from H1 22. The Modi-1 clinical trial will be a first-in-human clinical trial in patients with triple negative breast cancer, ovarian cancer, head and neck cancer, and renal cancer. Modi-1 will be administered in combination with checkpoint inhibitors in patients with head and neck or renal tumours. The trial will initially focus on the safety of two citrullinated vimentin peptides and, if there are no significant side effects, a citrullinated enolase peptide will be added.

TomCo Energy 0.535p  £7.8m (TOM.L)

The US operating oil development group focused on using innovative technology to unlock unconventional hydrocarbon resources, has acquired from Valkor LLC its 50% interest in Greenfield Energy LLC, the 50/50 joint venture company established by TomCo and Valkor in mid 2020, for wholly deferred equity consideration. Commenting, John Potter, CEO of TomCo, said: “We are delighted to have reached agreement with Valkor to acquire their 50% interest in Greenfield and look forward to welcoming Valkor as a substantial shareholder in TomCo as and when Financial Close for construction of the proposed Greenfield Plant is achieved within the next three years. We are very excited by the future potential of Greenfield.  The due diligence undertaken so far on the Site has been positive such that it appears ideally suited for the construction, subject to funding, of Greenfield’s first commercial scale plant, with significant resources for potential exploitation. Additionally, the recent results of the FEED study were most encouraging”.

Westmount Energy 9.5p  £13.7m (WTE.L)

Westmount notes the announcement by the Maritime Administration Department, Guyana, dated 25th August 2021, that the Stena DrillMAX drillship will commence drilling operations at the Sapote-1 wellsite on the Canje Block, offshore Guyana, on 28th August 2021. As previously announced, Westmount holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc. (“JHI”). The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with TotalEnergies E&P Guyana B.V. (35%), JHI Associates (BVI) Inc. (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners. Sapote-1 is located in the southeast of the Canje Block, approximately 60kms north of the Campanian and Santonian Maka Central-1 stacked pay discovery, in a new depositional setting linked to the Berbice canyon system. Sapote-1 is an independent multi-layer prospect, which will evaluate several Upper Cretaceous targets, and is potentially the largest prospect drilled on the Canje block to date. Drilling of Sapote-1 is anticipated to take 60 days, with results anticipated in late October.

Volex 384.25p  £610m (VLX.L)

The global supplier of integrated manufacturing services and power products, has signed a share purchase agreement for the acquisition of the entire issued share capital of Irvine Electronics, for a total consideration of $16.4m. The Acquisition will be satisfied in cash at completion from the Company’s existing debt facilities and will be earnings enhancing from completion. The Acquisition is expected to complete in Q3 FY2022, subject to customary closing conditions including regulatory approvals in the US. Irvine is a US-based manufacturer of electronic solutions, including printed circuit board assemblies, with over 30 years of experience and deep relationships across a wide variety of blue-chip customers, particularly in the defence, military aerospace and medical markets. Earnings-enhancing from completion, the consideration represents 3.5x adjusted EBITDA for the year ended 31 December 2020.

*A corporate client of Hybridan LLP

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