Small Cap Feast

10th April 2024

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Change of Market:

TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated proposition as a value alternative to full price specialist retailers. The Company is listed on the premium segment of the Main market of the London Stock Exchange. The Company has announced its intention to change to the AIM market on the 3 May 2024.

Banquet Buffet

Celsius Resources 0.725p £15.81m (CLA.L)
The copper and gold mining Company announces the extension of the exploration permit for the Sagay Copper Project, held under its Philippine subsidiary, Tambuli Mining Company, Inc located on the Island of Negros in the Philippines. The extension of EP-000003-VI was issued on 1 April 2024. The Company is in the process of completing the Environmental Impact Assessment for the Sagay Project as the basis for the issuance of an Environmental Compliance Certificate.

Epwin Group 84.5p £120.6m (EPWN.L)
The manufacturer of energy efficient and low maintenance building products announces its decision to extend its existing share buyback programme originally announced on 27 November 2023 (the Programme), following the anticipated completion today of the initial repurchase limit of 3m ordinary shares at a total cost of £2.3m. The Programme is today being extended to allow the Company to repurchase up to a further 3m ordinary shares from the date of this announcement.

e-therapeutics 10.25p £59.5m (ETX.L)
The Company integrating computational power and biological data to discover life-transforming RNAi medicines announces (1) a proposed fundraise of £28.9m at a price of 15p per Ordinary Share by funds managed by M&G Investment Management Limited and Richard Griffiths and his controlled undertakings, existing shareholders of the Company; and (2) the proposed cancellation of Admission of its Ordinary Shares to trading on AIM. The Company has a current cash position of approximately £18m and will subsequently explore the option of listing on NASDAQ in due course.

Fulcrum Metals 15.25p £7.6m (FMET.L)
The Company focused on mineral exploration and development in Canada announces that its wholly owned subsidiary Fulcrum Metals (Canada) Ltd (FMCL) has entered into an option agreement to acquire a 100% interest in the Sylvanite Gold Tailings project, located in Kirkland Lake, Ontario, Canada. Sylvanite, an ex-producing mine, is strategically located 3km from Fulcrum's Teck-Hughes Gold Tailings project, the Company's first tailings investment and significantly expands its footprint in the Kirkland Lake Gold Camp, one of the most productive gold camps in Canada.

Helium One Global 1.45p £53.9m (HE1.L)
The primary helium explorer in Tanzania provides an update on its Rukwa Project. Itumbula West-1 extended well test remains on track for early Q3 2024. An Environmental and Social Impact Assessment study has commenced as part of the Mining Licence conversion process. The Company has appointed a facilities management company to commence a design study for a helium production plant at Rukw. The Company is continuing to work with the Tanzanian Government and the Mining Commission to move the Rukwa Project towards commercialisation.

MC Mining 8.125p £33.6m (MCM.L)
The independent board committee (IBC) of MC Mining (MCM) refers to the A$0.16 off-market takeover offer by Goldway Capital Investment Limited (Goldway) for all of the shares in MCM not currently owned by associates of Goldway (Offer). The IBC notes that as at 8 April 2024 the Offer has now been declared unconditional by Goldway and that Goldway and the associated Consortium members have disclosed a relevant interest in 83.67% of the issued shares. The final consideration for the Offer has now been determined at GBP 0.08336 per MCM Share. The IBC believes that Shareholders should consider accepting the Offer.

IQE plc 23.975p £230.3m (IQE.L)
The global supplier of compound semiconductor wafer products and advanced material solutions announces an expansion of its partnership with Advanced Wireless Semiconductor Company (AWSC) with a multi-year supply agreement. IQE will supply AWSC with Gallium Arsenide (GaAs) wafers for the manufacture of smartphone power amplifier devices to be supplied to its key customer Lansus, the Chinese RF technology supplier. This will supply Tier One China-based OEMs in the Android ecosystem, in a market which is expected to return to growth following a period of inventory build-up.

Ondine Biomedical 7.75p £17.6m (OBI.L)
The Canadian life sciences Company announced that the private healthcare provider, HCA Healthcare UK, has approved the Steriwave light-activated antimicrobial developed by Ondine Biomedical Inc. (LON:OBI) for use in its healthcare facilities to prevent healthcare-associated infections (HAIs) and reduce the use of antibiotics. HCA Healthcare is the largest private healthcare provider in the world, and one of the leading private healthcare providers in the UK, where it operates over 30 healthcare facilities.

Sareum Holdings* 12.5p £12.0m (SAR.L)
The clinical-stage biotechnology Company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has issued 2.9m new ordinary shares to RiverFort Global Opportunities PCC Ltd (RiverFort), in accordance with the terms of the Facility as announced on 3 August 2023. The Company has drawn £2.3m to date pursuant from two prepayment deposits. After this issue of 2.9m shares to RiverFort, the Company now has an outstanding balance of circa £0.8m under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (Maturity Date) and the Company expects to settle all balances by the issuance of Subscription Shares prior to the Maturity Date. As noted in the RNS of 28 March 2024, Sareum does not intend to make any further withdrawals pursuant to the Facility with RiverFort.

Touchstone Exploration 47.5p £102.8m (SAAS.L)
The Calgary, Alberta based petroleum and natural gas Company provides an operational update. The Cascadura-3ST1 well has been cased and production testing is scheduled to commence in the third quarter of 2024 directly into the Cascadura natural gas facility. The CO-374 well has been cased for crude oil production and will be completed once the CO-375 development well has been drilled and the rig is moved from the location. Average net sales volumes was reported as 7,015 boe/d in the first quarter of 2024.

10 April 2024
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged


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