Small Cap Feast

10th February 2023

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What’s Cooking In The IPO Kitchen?

Fulcrum Metals, a holding company of a mineral exploration group with base, precious and energy metal projects in Canada, intends to join AIM. On Admission, the Group's projects will comprise six gold and base metal projects in Ontario, Canada. The Group's projects are pre-discovery with large, diversified land packages that have either substantial historical samples or prospective geology and are located nearby mineral rich deposits or producing mines. Expected 14 February 2023, raising at 17.5 pence per Ordinary Share to raise gross proceeds of £3m.

Breakfast Buffet

Access Intelligence 77.5p £99.0m (ACC.L)
The technology innovator delivering (SaaS) solutions for the global marketing and communications industries announces contract wins over the last two months. In North America, a £0.5m per annum contract has been won with a customer seeking to use the Company's technology to obtain greater insights into its local and global communications strategy. In EMEA recent contract wins with new customers include the Delegation of the European Union to the United Kingdom, Iris Worldwide, Matalan, Mayborn Group. The Group is confident of its performance during the current financial year.

ASOS 842.75p £842.9m (ASC.L)
Online retail firm specialising in a curated edit of clothing and accessories produces announces the appointment of Sean Glithero as interim CFO once Katy Mecklenburgh leaves in May. Sean has already joined the Company to allow for a thorough handover. He is an experienced CFO with an extensive track record. During his 28-year finance career, including ten years as a CFO, Sean has led large finance functions at businesses including Auto Trader Group PLC, Funding Circle Holdings PLC and, most recently, MatchesFashion.

Caledonia Mining Corporation £11.25 £191.7m (CMCL.L)
The Group focused on a cash generative gold producer primarily in Zimbabwe, announces an update on the operation of their new solar plant and electricity supply to their core asset: the Blanket Mine. The Group announces that its 12MWac solar project, which was connected to the Blanket electrical grid in November 2022, is operating better than expected and generating more power; it currently provides approximately 27% of Blanket's average daily electricity demand. In January 2023, Blanket consumed 18,000 litres of diesel, compared to 120,000 litres per month for the whole of 2022. the Group is on an ongoing reduction in diesel usage and increase in solar power; hence delivering on its ESG strategy.

Itim Group 37.5p £11.7m (ITIM.L)
A SaaS based technology company enabling store-based retailers to optimise their businesses and improve financial performance, provides an unaudited trading update for the financial year ended 31 December 2022. At the year end, the Group showed revenue growth of 4.5% to £14.0m (FY2021: £13.4m), with subscription revenues representing 84% of total turnover (2021: 77%). The Group has signed two new retailers during the year and also experienced growth in the existing customers. The Group is targeting an improvement in the adjusted EBITDA margin during the current financial year before moving substantially higher from 2024.

Live Company Group 2.45p £6.1m (LVCG.L)
A live events, entertainment and sports events company, announces an update in the Formula E race which is due to take place in Cape Town. Whilst as previously notified no Title Sponsorship was obtained, smaller sponsorship agreements have now been signed with the following companies: City of Cape Town, Western Cape Government, South Africa Tourism, Nissan, Uber, E-tv, and Nedbank. Currently over 15,000 tickets so far have been sold from the potential total of 21,000 which is already 70% of the tickets sold and the expectation is to sell out prior to the event on 25th February. The Group are also hosting the premier Olympics Around the World The Ocean Race that starts on Sunday 26th the following day.

Pantheon Resources 56.55p £459.3m (PANR.L)
The oil and gas company with a 100% working interest in all of its oil projects spanning c.153,000 acres adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope provides an update. The Nordic Calista #2 rig contracted for the Alkaid #2 clean out operation has pulled the tubing and packer and has now moved off the well head. An SLB (in October 2022 Schlumberger announced a change of name to SLB) coiled tubing unit has subsequently moved onto the well head to commence a cleanout of the sand blockage which is scheduled to occur over the weekend. Commencement of operations was delayed due to poor weather and a number of electrical and hydraulic issues which are now all resolved.

Rambler Metals & Mining SHARES SUSPENDED (RMM.L)
A copper and gold producer, explorer, and developer, announces an update regarding its gold purchase and sale agreement with Elemental Altus Royalties Corp in relation to production from Ming Mine in Canada. As noted in the announcement of 17 March 2022, the Company entered into a sale agreement with Elemental Altus, pursuant to which Rambler was contracted to make minimum gold deliveries of 1,200 ounces to Elemental Altus in the first three years of the Agreement. No sale and delivery of gold has occurred for the financial quarters ended September 30, and December 31, 2022. Rambler remains in discussions with several groups as the Company seeks to restructure its finances.

Scotgold Resources 45p £25.1m (SGZ.L)
The gold exploration and production company focused on Scotland announces that the Company has conditionally raised gross proceeds of £2.5m through a placing at 40p per share. The Company further announced it was launching a separate retail offer to raise a further £5o0k .

Vela Technologies 0.0185p £3.0m (VELA.L)
An investing company focused on early-stage and pre-IPO disruptive technology investments, reports an investment update for the quarter ended 31 December 2022. The value of Vela's total assets increased by 8.3% to £6.9m. The change in the value of the investment portfolio reflects disposals of investments valued at £254k at 30 September 2022 (realised profit: £133k), a further investment of £100k in Northcoders Group plc and a net unrealised increase in the fair value of the investment portfolio of £327k. Vela's cash balances increased to £864,000 as at 31 December 2022 (30 September 2022 - £646,000). The Company in a position where it can take advantage of investment opportunities presented.

Zephyr Energy 6.6p £104.5m (ZPHR.L)
The Rocky Mountain oil and gas company focused on responsible resource development and carbon-neutral operations announces the completion of its acquisition of the remaining 25% interest in the White Sands Unit in the Paradox Basin, Utah, U.S. The acquisition is accretive to our shareholders, given the increase in the Company's reserves and resources, and provides the Company with increased flexibility of the future development of the Paradox assets. The Group states that this acquisition represents a building-block for the Company's future development and growth.

10 February 2023
*A corporate client of Hybridan LLP or retained by Hybridan LLP for certain services
** Arranged by most recent first
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour


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