AIM Breakfasts

AIM BREAKFAST – 23rd August 2016

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 1,004

Total number of AIM Companies trading: 990*
* As at 22 August 2016

Dish of the Day:

No primary today

Off the Menu:

No Leavers Today

Set Menu ISDX Growth:

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

Total number of ISDX Growth Market Companies trading: *
* As at 22 August 2016

Dish of the Day:

Off the Menu:

What’s Cooking in the IPO Kitchen?

LoopUp—The provider of conference calls and online meetings is seeking to join AIM. 2015 revs of £9.2m and EBITDA of £1.02m

Bacanora Lithium— To list on AIM around 28 Sep as holding company for TSX listed Bacanora Minerals at £100m market cap

Aura Energy—ASX listed uranium developer (ASX:AEE) expected to join AIM 6 September

 

Breakfast Buffet

Electric Word (ELE.L) 3.13p £12.8m

The specialist information business with divisions operating in the Sport and Education sectors  has reported H1 May 2016 interims during which time it disposed its 70% stake in iGaming Business Ltd for gross cash consideration of £14.5m leaving £11.5m net cash. Results from continuing operations showed flat revenues of £3.3m and adjusted EBITA losses of £992k. The company is seeking ways to add scale as the Sports and Education businesses are not sufficient to support central costs and overheads.

 

Harvest Minerals (HMI.L) 17.75p £16.7m

Arapua Fertiliser Project Update:  positive results for the latest agronomic and metallurgical testwork conducted at the Maximus prospect, part of its Arapua Fertiliser Project  in Brazil. All results were well within the required specifications. Notably, no toxic elements are present. Excellent solubility levels. The significance of this work, is in part, the option to be able to produce and products with different grades in order to service different market sectors as commercial production develops.

 

Rare Earth Minerals (REM.L) 0.87p £64.5m

Rare Earth’s 15.5% investee company, Macarthur Minerals has applied for an additional exploration licence in the Pilbara region of Western Australia , to extend the contiguous area to 367 square kilometres. The Company now has total tenement acreage under application in the Pilbara region of 1,449 square kilometres, in addition to its Yalgoo, Edah Hill, Ravensthorpe, Sulphur Springs, Whim Creek interests in Western Australia and Nevada Stonewall interests in the United States of America.

 

Circle Property (CRC.L) 148p £41.88m

Maiden results for the four months to March 2016 from the specialist regional UK property investment, development and management company. In the period from incorporation, profit before tax £1.1m, which reflects basic earnings per share of 3.8p. Maiden divi of 2.4p paid in May. NAV/Share was £1.53 at the period  end. Post Brexit the company now sees a gradual resumption of normal working with occupiers continuing to sign leases and investors competing to buy buildings with a living yield

 

ITM Power (ITM.L) 23p £49.9m

The energy storage and clean fuel company  announced a fuel contract to supply hydrogen at £10/kg with Commercial Group, a pioneer in hydrogen fuelled fleet logistics. The contract covers fuel dispensed across ITM Power’s hydrogen refuelling network, including the station recently opened in London. ITM Power currently has £16.19m of projects under contract and a further £1.79m of contracts in the final stages of negotiation, making a total of £17.98m.  FYApr17E forecasts project £3.7m sales and a £3.4m loss before Tax.

 

Orosur Mining (OMI.L) 17.75p £17.56m

A director share purchase  from the South American focused gold producer, developer and explorer, with non-exec Pablo Marcet picking up one million shares at CA$0.315 or 18.8p. He owns 1.23% of the company.

 

Tlou Energy (TLOU.L) 7p £14.39m

The AIM and ASX listed company focused on delivering power in Botswana and Southern Africa through the development of coal bed methane has renewed a Co-operation Agreement with General Electric International and IK Holdings for the delivery of a proposed gas to power solution for Botswana, supporting  a new 50MW power generation facility for which Tlou has been approved   to negotiate gas supply, construction and operation .

 

Vast Resources (VAST.L) 0.325p £10.2m

The mining company with operations in Romania and Zimbabwe has updated for the quarter to June 2016. 62% increase in gold production to 4,542 ounces  at Pickstone. Manaila increase in ore but decrease in concentrate produced. Further testwork being implemented. Exploration drilling underway at Baita Plai. Funding update includes a repayment to Darwin Capital. Latest placing on 11 August raising £365k at 0.285p.

 

Telit Communications (TCM.L) 247.75p £284.69m

The global enabler of the Internet of Things (IoT), announces a new portfolio of LTE IoT modules. The portfolio includes four LTE Cat M1 modules for the American market and one LTE Cat NB1 module for the European market. The modules begin sampling later this year with commercial availability expected in early 2017, in alignment with the current service launch timelines of American operators.   The shares are on 13.7 x current year earnings with a 2.3% yield.

 

Jersey Oil & Gas (JOG.L) 37p £3.1m

The independent upstream oil and gas company ‎focused on the UK Continental Shelf region of the North Sea, announced that alongside its co-venturer, CIECO Exploration, has  agreed a farmout  of 70% of certain North Sea blocks to Statoil. Total up-front cash consideration of US$2 million, of which US$1.2 million will be payable to Jersey Oil & Gas. Statoil will fund all costs up to US$25 million in respect of the first exploration well to be drilled on the P.2170 Licence.

 

Head Chef:

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

*A corporate client of Hybridan LLP

Disclaimer

This document, which does not constitute research, has been issued 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 should not be relied upon as being an independent or impartial view of the subject matter and, for the avoidance of doubt, does not constitute “independent investment research” for the purposes of the Financial Conduct Authority rules. 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, directors, 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 UK, 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 (as amended) or (ii) are Professional Clients or Eligible Counterparties (as those terms are defined in the rules of the Financial Conduct Authority) 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 persons who would be classified as Retail Clients (as defined by the rules of the Financial Conduct Authority).

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 UK or US securities law, or the law of any such other jurisdictions.

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, directors, 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.

Neither the whole nor any part of this document may be duplicated in any form or by any means. Neither should this document, or any part thereof, be redistributed or disclosed to anyone without the prior 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. If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”.