Small Cap Feast

Small Cap Feast – 21 August 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 884

Total number of AIM Companies trading: 800*
* As at 19 August 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 87*

Total number of NEX Growth Market Companies trading: 85*
* As at 19 August 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 19 August 2019

Dish of the Day:

No Joiners Today

Off the Menu:

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Dish of the Day:

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What’s Cooking in the IPO Kitchen?

Breakfast Buffet

Brady plc (BRY) 34p £47.10m

Brady plc, a leading global provider of trading, risk management and settlement solutions to the energy and commodities sectors, announces that, over the course of the first half of 2019, Brady has had positive engagements with existing customers, and the recurring revenue is in line with expectations. However, the pipeline of revenue from new customers forecasted will not materialise during fiscal 2019, although new business bookings are anticipated in the second half. As such, the Board has concluded that full year revenue will be circa £19m, and this will have a consequent impact on EBITDA performance.

The turnaround of the business since the appointment of Carmen Carey as CEO has continued to build momentum focused on customer engagements, delivering major contracts and maturing the new business pipeline. In addition, the strategic product review has concluded, informing the going forward business strategy to align, optimise and advance the product portfolio and conclude the transformation work underway when Carey joined.

Asiamet Res Ltd (ARS) 3.75p £36.23m

Asiamet announced it has signed a Memorandum of Understanding with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (China NFC), a subsidiary of China Nonferrous Metal Mining Co., Ltd. for value engineering and Engineering, Procurement and Construction Management Services for the BKM Copper project located in Central Kalimantan, Indonesia.

China NFC is a market leading Chinese contracting group with an internationally recognised capability, having successfully completed many mine developments across the Middle East, Central and North Asia, Central and South Africa, and neighbouring countries. These implementation capabilities in nonferrous metal industry projects cover a wide range from technical assistance, technical consultancy, equipment manufacturing and supply to project management, project implementation and financing.

PetroTal Corp. (PTAL) 17p £104.19m

PetroTal Corp. is pleased to provide an update in respect of its operations and production at the Bretaña field in Block 95 (PetroTal: 100% Working Interest) in Peru.

Highlights

Company has successfully completed the BN 95-2WD well.

Following completion of the 2WD, the Company successfully converted the existing water  disposal well into an oil producer, renamed the BN 95-1

BN 95-1 initial production rate of 2,700 barrels of oil per day exceeds management expectations

Current production approximates 5,500 BOPD

Total field production in August has averaged approximately 5,000 BOPD as expected

Company spud the BN 95-4 well, a development oil well planned with a horizontal completion

Hardide PLC (HDD) 73.50p £34.40m

Hardide the developer and provider of advanced surface coating technology, announced that it has now ordered three new coating reactors. These will increase capacity and capability at the Company’s coating facilities in the UK and USA in line with the Company’s previously described strategy.

Two of these reactors will be installed in the new 20,000ft2 Bicester premises as part of the Company’s move which includes relocating its existing three reactors. The third new reactor will be installed in Martinsville, Virginia in Spring 2020, taking the number of reactors there to four. The Group will have nine reactors once these new ones have been installed, which will provide a significant increase in production capacity in anticipation of increased demand. The investment has been funded by the proceeds of the Company’s previous fundraisings.

One of the additional reactors in Bicester will be larger and have greater capability than the existing reactors. This is to allow for the coating of larger components than is currently possible, including steam turbine blades.

Regal Petroleum PLC (RPT) 32p £104.85m

Regal Petroleum plc, the AIM-quoted oil and gas exploration and production group, announced an update on the Reserves and Contingent and Prospective Resources at its 100% owned and operated Vasyschevskoye VAS gas and condensate licence in Ukraine.

The Company engaged independent petroleum consultants, DeGolyer and MacNaughton, to prepare an updated assessment of the remaining Reserves and Contingent Resources attributable to the VAS field, and the Prospective Resources attributed to the Vvdenska VED prospect, located within the VAS licence area, as of 31 December 2018 as set out below. The Report accords with the March 2007 (as revised in June 2018) SPE/WPC/AAPG/SPEE Petroleum Resources Management System (“PRMS”) standard for classification and reporting.

Base Resources Limited (BSE) 13.20p £154m

2019 Mineral Resources and Ore Reserves Statement

HIGHLIGHTS

The Kwale deposits were reduced by mining depletion during the year to 30 June 2019 with the effect of:

Fully depleting the Central Dune Mineral Resources by 20Mt containing 0.8Mt of in situ HM.

Fully depleting the Central Dune Ore Reserves by 18Mt containing 0.7Mt of in situ HM.

Mining of the Kwale South Dune deposit commenced on 26 June 2019, however negligible ore was mined, having no effect on the reported Mineral Resources nor Ore Reserves (as a consequence of rounding).

The Kwale North Dune Mineral Resources announced on 1 May 2019 is estimated to be 171m tonnes at an average HM grade of 1.5%, based on a 1% HM cut-off grade.

The Ranobe Mineral Resources estimate update announced on 23 January 2019 increased the deposit to 1.3 billion tonnes at 5.1% HM, based on a 1.5% HM cut-off grade, resulting in a 25% increase in contained HM tonnes.

Orchard Funding Grp (ORCH) 76.50p £16.34m

Orchard Funding Group, the finance group which specialises in insurance premium finance and the professions funding market, provides the following trading update for the year ended 31 July 2019.

During the year, the Board considered an alternative to obtaining its own banking licence and the Company announced that it had withdrawn its application for its own banking licence. After deliberations, the Board has now concluded that the acquisition of its own licence is its preferred course of action. Accordingly, the process of obtaining its own licence has therefore been restarted and is progressing into the current financial year. As a result, banking licence application costs for the year ended 31 July 2019 are expected to be lower than previously anticipated.

Edenville Energy PLC (EDL) 0.05p £1.13m

Edenville Energy Plc, the AIM quoted company developing the Rukwa coal project in southwest Tanzania, announced it has taken delivery of two recently acquired 30 tonne trucks to be used in mining load and haul at its Rukwa Coal Project  site.

Utilising a modest part of the proceeds from the fund raising undertaken in May 2019, the trucks will provide the backbone of load and haul operations at the Project.  As the Project expands the trucks may be supplemented with additional units.  The Company has previously been relying on trucks supplied by contractors, which in the past have sometimes proved to be both an expensive and inefficient option.  The two new trucks will operate on a two shift per day basis, compared to the single shift for the previous contractor’s trucks, increasing the amount of coal that can be delivered to the Company’s wash plant.  As a result, the wash plant is expected to move to a double shift basis in the coming weeks, thereby boosting productivity at the Project.

Randall & Quilter Ld (RQIH) 160.50p £310.53m

Randall & Quilter Investment Holdings Ltd. announced that its wholly owned subsidiaries, Accredited Surety and Casualty Company, Incand Accredited Insurance Limited , have recently completed a number of new program partnerships as they continue to deliver on their objective of being the partners of choice for MGAs requiring high-quality licenced European and US insurance capacity.

Metal Tiger plc (MTR) 1.20p £18.32m

Metal Tiger plc the London Stock Exchange AIM listed investor in strategic natural resource opportunities, notes the announcement made by MOD Resources Ltd  today, which provides an update on the proposal from Sandfire Resources NL to acquire 100% of MOD shares by way of a Scheme of Arrangement.

Head Chef:

Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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