Small Cap Feast

Small Cap Feast – 16 June 2020

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Plant Health Care 10.125p £25.5m (PHC.L)

The US EPA has approved its application for the novel peptide product, PHC398. 


–  PHC398 is the first active ingredient from Plant Health Care’s PREtec technology platform approved for registration anywhere in the world.

–  The registration of PHC398 makes the process of registering future PREtec products in the US quicker and cheaper.

–  The high-performance variant of PHC398, known as PHC279, was submitted for EPA approval on May 14th, 2020 and is currently expected to be approved in the second half of 2021.


European Metals 15.65p £24.2m (EMH.L)

The Czech Ministry of the Environment has granted Geomet an updated Preliminary Mining Permit related to the Eastern part of the Cinovec deposit.

The permit has been issued for a period of 8 years. A Preliminary Mining Permit is a necessary legal pre-qualification before obtaining a Final Mining Permit and guarantees the Company the priority right to apply for and obtain a Final Mining Area and a Final Mining Permit.

The approval for the Cinovec-East Preliminary Mining Permit of the deposit covers an area of 0.201 km2 and, together with the existing Preliminary Mining Permits, encompasses the entire Cinovec ore reserve with Preliminary Mining Permits.


Union Jack Oil 0.21p £32.4m (UJO.L)

Positive conclusions of a Carbon Intensity Study on the West Newton hydrocarbon project, located within PEDL183 onshore UK in East Yorkshire. The Gaffney Cline study highlighted the following:

  • The West Newton project has an AA rating for Carbon Intensity for its potential Upstream crude oil production
  • Carbon Intensities at West Newton are significantly lower than the UK average and compared to other onshore analogues
  • Based on the study, GaffneyCline estimate that West Newton could produce the equivalent of just 5 grams of CO2 per megajoule of energy created (gCO2eq./MJ)
  • The study also highlighted that this number could be further reduced to just 3.5 gCO2eq./MJ by applying gas-to-grid technologies
  • As the development proceeds and project knowledge increases, there is potential to improve the Carbon Intensity by further reducing fugitive, flaring and venting


Thor Mining* 0.365p £4.5m (THR.L)

Practical completion of the field component of due diligence for the acquisition of American Vanadium Pty Ltd (AVU) which holds interests in uranium and vanadium focussed projects in Colorado and Utah in the United States of America.

Field sampling is completed from historical mines around the Wedding Bell and Radium Mountain.

A total of 21 samples collected include four outcrop samples and 16 samples from historic mining dumps, all of which appear to host uranium and, five outcrop samples which appear to host vanadium. Samples have been delivered to the assay laboratory, with results expected to be available later this month.

Inspection of each of the three project sites have revealed no competing interests or issues likely to prevent future mine development. Investigations have revealed that there are no regulatory or environmental issues which would cast doubt on the transaction. The mineral claims are all in good standing. Project data search has revealed abundant geological and mine production data from multiple sources.


Bidstack 4.375p £17m (BIDS.L)

The native in-game advertising platform has received the Internet Advertising Bureau’s Gold Standard certificate 1.1. 

Launched by the Internet Advertising Bureau (“IAB”), the UK industry trade body for digital advertising, in 2017 as the UK’s response to improve standards in digital advertising, the Gold Standard Certificate is centred around three key areas: reducing ad fraud, improving the digital advertising experience and increasing brand safety.


Yourgene 18.5p £115.5m (YGEN.L)

The international molecular diagnostics group, announces a collaboration agreement with international payments company Caxton and immunity passport app Prova, which once launched will support the efforts to get Britain back to work by testing employees for COVID-19. 

The collaboration with Prova and Yourgene will enable Caxton to offer COVID-19 tests to its extensive network of corporate clients and their employees. The immunity passport app Prova, created by London-based Hooha Innovations, enables employees to download and request a COVID-19 test. Once a test sample has been taken and the sample processed, the results will be automatically delivered securely to the Prova app, allowing the user to share and prove their COVID-19 status without revealing any personal information.

Yourgene’s responsibilities will lie in providing the clinical and technical expertise, by providing sample collection kits, training a healthcare professional to take the sample safely and effectively then running the COVID-19 test in its Manchester Citylab facility. The collaboration will use the Company’s ClarigeneTM SARS CoV-2 CE-IVD assay when launched and the patient results will be uploaded securely to the Prova app.


Touchstone Exploration 50.5p £93m (TXP.L)

On June 15, 2020 the conditions precedent were satisfied in respect of its previously announced US$20 million, seven-year term loan agreement with Republic Bank Limited. Touchstone withdrew US$15 million to satisfy obligations relating to prepaying the Company’s former C$20 million credit facility. Pursuant to the Term Loan, Touchstone has the option to withdraw the remaining US$5 million available balance prior to June 15, 2021.


Amiad Water Systems 245p £74.3m (AFS.L)

The producer of water treatment and filtration solutions, announces that it has signed a new five-year global distribution agreement with Netafim, the global leader in precision irrigation solutions, for the Company’s disc filtration products for the irrigation market. This new agreement extends the existing long-term strategic relationship between the two companies.

This agreement provides Amiad with continued access to Netafim’s extensive distribution network, covering over 110 countries, which represents an important contributor to the Company’s sales in the irrigation market.


Inland Homes 51.5p £118m (INL.L)

The leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, today announces the unconditional sale of 94 plots at its flagship development site at Wilton Park in Beaconsfield to Bewley Homes plc, a specialist in high quality developments in the South East. The sale is part of phase one and two of the project, which totals 147 units including 27% affordable housing.

The consideration payable presents a premium to the EPRA valuation. The sale, which is expected to complete in September this year, has been structured so that circa two-thirds of the consideration will be payable in cash on completion with the balance payable on a deferred basis and no later than twelve months post-completion.


Ten Lifestyle Group 98.25p £79.2m (TENG.L)

The technology-enabled, global concierge platform for the world’s wealthy and mass has launched a new Employability Accelerator Service to its members and the public in order to help students and graduates thrive during summer 2020 and beyond .

Today’s young people are the most educated generation to date, but the graduate job market has become the most competitive in history. Top employers and fast-growing businesses want specific skills, experience and attitudes that aren’t the primary focus of schools and universities. At the same time, the impact of the COVID-19 pandemic sees today’s students confronted with a steep decline in the availability of graduate jobs, work experience opportunities and internships, meaning that there are fewer options than ever to address the growing demand to improve employability amongst young people.

The intensive two-week Programme, initially aimed at students aged 18-25 in the UK, is a paid for service which includes:

“· Real-world project experience at Ten. We have run successful work experience placements for 15 years.

  • A 12+ hour professional coaching course designed by the youngest ICF-accredited Master Coach in the UK and delivered by the coaching team at Resurgo.
  • Access to a specially curated online learning library available during and after the Programme.”


Head Chef:

Derren Nathan
0203 764 2344

*A corporate client of Hybridan LLP


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