Small Cap Feast

Small Cap Feast – 12th August 2016

Dish of the Day:

No  primary today

Off the Menu:

No leavers today

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 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

Autins Group plc – The acoustic and thermal insulation specialist now looks to join AIM late August


Breakfast Buffet

MediaZest* (MDZ.L) 0.17p £2.1m

The creative audio-visual company has reported record final results for FYMar16. Turnover up  26.6% to £3.1m . Increasing recurring revenues. Gross margin up 100 bps to 42%. EBITDA of £58k before non cash items. Additional new projects for financial year ended 31 March 2017: Rockar, Hyundai, Mamas and Papas, O2, TNS, HMV, Kuoni, Ted Baker, and Diesel. Expects bottom line profit after tax for the first time in FY2017.


Minera IRL (MIRL.L) Delisted

Minera has announced  the resumption of drilling at the Ollachea flagship gold project in Puno, Southern Peru. The program contemplates 5,230 m. of diamond drilling consisting of 23 holes drilled from 6 platforms from within the Ollachea tunnel. The target is the down-dip plunge of the mineralisation to the east of the Minapampa mineralisation. In 2013, three holes drilled off the tunnel intercepted mineralisation at grades generally superior to those encountered in main mineralisation. The company is reviewing relisting options.


GAN(GAN.L) 37p £24.7m

The developer & supplier of enterprise-level B2B Internet gaming software, services and online gaming content in the United States  announced that it has partnered with the Chickasaw Nation to launch a social casino experience developed on GAN’s proprietary Simulated Gaming™ platform designed specifically for US land-based casino operators.  Chickasaw Nation operates 20 regional casino properties in Oklahoma & is GAN’s largest US client win to date. The shares are on 6.6x FY16E forecast EPS.


IronRidge Resources (IRR.L) 18.13p £36.08m

The company focused on the discovery and development of world-class and globally-demanded commodities  will invest up to US$3.5m in Tekton for up to a 58% shareholding , which provides IronRidge with access to exclusive rights to an extensive land package and associated major new gold discovery in Chad, Central Africa. ‘Chad represents a highly prospective, under-explored destination for minerals with obvious gold endowment, largely forgotten due to the focus on oil, with an attractive mining code ’.


Palace Capital (PCA.L) 387.5p £82.7m

The property investment company that focusses on commercial property mainly outside London, announced that the Company has sold its freehold vacant warehouse property in Victoria Road, Stoke-on-Trent, for £1.086 million, which was slightly above book value. As  at 31 March 2016 the NAV/share for the company was 414p.


Applied Graphene Materials (AGM.L) 167.5p £36.6m

The producer of specialty graphene materials, has announced a trading update ahead of its FY July 2016 results. The overall loss before tax is in line with the Directors’ expectations. Net cash was approximately £7.7m.  Recently announced a 6x improvement in barrier and anti-corrosion properties through use of  improved graphene material formulation at low loading levels in anti-corrosion coatings. Already resulted in one accelerated product development programme.


Rotala (ROL.L) 62.5p £26.4m

The company operating commercial and subsidised bus routes for businesses, local authorities, the public and private individuals has reported H1 May 2016 interims. Turnover up 11% to £27.4m.  PBT+ 9% to £1.135m. Recent acquisitions of three businesses, expanding operations  in Heathrow and the North West. FY forecasts suggest £57.1m revenues and PBT  of £2.9m equating to EPS of 5.9p. 10.6x PE. Yield 3.8%.


Epwin Group (EPWN.L) 109p £154.3m

The vertically integrated manufacturer of low maintenance building products, supplying the RMI (repairs, maintenance, improvement), new build and social housing sectors, announces its pre-close trading update  for H1Jun16. Results in line. The Board remains confident of the long term growth drivers in the RMI market, whilst acknowledging that the UK referendum decision to leave the EU has created uncertainty in the UK economy.  Projected 7.8xPE and 6.4% yield.


Bango (BGO.L) 80.5p £52.4m

The mobile payments company, announces that it has entered into a memorandum of understanding with South Korean mobile commerce company Danal Korea, aimed at strengthening its global payments footprint and developing a mutually beneficial exchange of information in regards to technical expertise and markets.  In May 2016, Bango acquired BilltoMobile, Danal’s USA based Direct Carrier Billing business.


Hummingbird Resources (HUM.L) 25.37p £84.3m

The West African gold company, has announced it has raised approximately US$3.8 million in a private placing with Fidelity Investments through the placing of 11,100,000 new ordinary shares in the Company  at 26 pence per share. Hummingbird is currently developing its 2.2Moz Yanfolila Gold Project in Mali to production targeted by the end of 2017.


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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