LifeSafe Holdings, a fire safety technology business with innovative fire safety products, intends to join AIM. LifeSafe has developed what the Directors believe to be market disrupting, eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires. At the centre of the Group’s product range is the FER1000 extinguishing fluid, which has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel. The Group’s best-selling product using this patent pending extinguishing fluid is the StaySafe 5-in-1 fire extinguisher. It was launched on Amazon Prime in the UK in August 2021 and subsequently became Amazon Prime’s top selling fire extinguisher in the UK in the same month. In n the year ended 31 December 2021, the Group generated revenues of £670k and a loss post taxation of £1.5m. £3m to be raised. Due early July 2022.
Disko Exploration. Bluejay Mining (JAY.L) is undertaking a review into a demerger and potential separate stock market listing, on a London based stock exchange of its wholly owned subsidiary Disko Exploration Limited. Disko currently holds the following interests: 1. Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland which entered into a definitive joint venture agreement with KoBold Metals Company to execute an extensive exploration program in 2022 for battery metals (49% owned by Disko). 2. Kangerluarsuk, a 100% owned lead-zinc-silver project in Greenland. 3. Thunderstone, a 100% owned gold-base metals & REE project in Greenland. Timing TBC.
Altona Rare Earths, the AQSE listed mining exploration Company focused on the evaluation, acquisition and development of Rare Earth Elements mining projects in Africa, intends to join the Main Market. Admission to trading of the Company’s Ordinary Shares on the AQSE Growth Market will be cancelled simultaneously with Admission. It is also proposed that on Admission, the Company will change its EPIC from AQSE:ANR to REE. The Company also seeks to raise funds to finance its current and future rare earths mining projects in Southern and Eastern Africa. Due June 2022.
Base Resources 16p £180.7m (BSE.L)
African mineral sands producer, Base Resources Limited reports that mining at its Kwale Operations has, over the past week, progressively returned to normal following the outage caused by localised flash flooding. Although this was an abnormal weather event, a series of mitigations are being implemented to reduce the likelihood of a future reoccurrence, including construction of additional storm water diversion bunds and the acquisition of supplementary high capacity diesel dewatering pumps. Base Resources confirms that it remains on schedule to achieve financial year 2022 production guidance.
Dillistone Group 22.5p £4.4m (DSG.L)
At today’s AGM, Giles Fearnley, Chairman of Dillistone, will make the following AGM statement: “We are pleased to report that the improved trading performance noted in the late months of 2021 has continued into 2022. Across both our contingency and executive search products, we see reasons for optimism with all our products performing broadly in line with – or better than – we would have anticipated at this point in the year. We are also pleased to confirm that Talentis has continued to grow rapidly, with recurring revenue in Q1 2022 being double that delivered in Q4 of 2021. The current quarter is likely to see a further doubling in which case it will become the fourth successive quarter in which realised recurring revenue has doubled on the previous period. This grow rate is expected to slow over the traditionally quiet summer, but we are confident that the product will deliver further strong growth in the final months of the year. The business is trading in line with market expectations for the full year.”
Kodal Minerals 0.26p £44m (KOD.L)
Updated Project Feasibility Study and the development status for its Bougouni Lithium Project in southern Mali. Confirmation of robust development project at Bougouni with key metrics including: NPV7% of US$760M (US$567M post-tax) compared to US$293M (US$201M post tax) in the original Feasibility Study. Life of mine (8.5 years) revenue exceeding US$2,145bn based on an average sell price of US$1,060 per tonne (FOB basis). C1 cash costs of US$362 per tonne of 6% Li2O spodumene concentrate (SC6), and costs of US$474 per tonne including transportation and other selling costs. Total SC6 production of 2,024,000 tonnes with an annual average production of 238,000 tonnes. Bougouni Project development based on unchanged operating assumptions of open cut truck and shovel contractor mining operation, feeding 2Mtpa of lithium ore to the flotation processing plant, utilising a conventional flotation circuit to maximise spodumene recovery. Capital cost of the Project increased approximately 20% to US$154M reflecting increased raw material and fuel costs. A separate study to assess the capital development cost, including a review of the process plant, has been undertaken by Yantai Jinpeng Mining Machinery Co. which indicates an estimated 20% capital cost saving for the process plant and associated facilities compared to the feasibility study update figures.
NAHL Group 36.8p £17.0m (NAH.L)
AGM Statement from the UK marketing and services business focused on the UK consumer legal market. Since the publication of the 2021 Final Results on 29 March 2022, the Group has continued to perform in line with market expectations. In the first five months of the year, the Group’s Consumer Legal Services division generated 34% more personal injury enquiries than the equivalent period last year, in a claims market that remains subdued following the impact of the COVID-19 pandemic and the introduction of the Civil Liability Act reforms last year. In line with its strategy, the Group continued to grow and invest in its fully integrated law firm, National Accident Law (NAL). 26% of total enquiries were distributed to NAL in the Period, representing an increase in the number of enquiries allocated to NAL of 95% compared to the equivalent period last year. In addition to growing the value of its book of ongoing claims, NAL also collected 21% more cash from settlements in the Period, compared to the prior year. Earlier this month, National Accident Helpline launched a new TV advertising campaign intended to further strengthen its brand position and contribute to volume growth. Overall, the Board’s expectation for the full year remains unchanged and the Group will provide a trading update for the six months to 30 June 2022 on 1 August 2022.
Netscientific 81p £17.1m (NSCI.L)
The international life sciences and sustainability technology investment and commercialisation Group announces that portfolio company Q-Bot has successfully closed a £1.62m investment round to fund the next stage of its growth. The additional funds will allow Q-Bot to accelerate the rollout of its unique patented solution of using robots to apply underfloor home insulation across the UK, and meet growing overseas demand for Q-Bot’s solution. Q-Bot is a London-based award-winning robotics and AI company that has pioneered cutting edge technology and digital solutions for the inspection, maintenance, insulation and upgrade of buildings and homes. In the year ended 31 March 2022, Q-Bot generated sales of £2.2m, and expects significant growth in sales as market deployment accelerates. With this funding, Q-Bot will continue its strong growth to meet the rapidly increasing market demand for its offering to UK social and private landlords in the context of rising energy bills and move to decarbonisation of UK housing. Q-Bot’s growth is through an expansion of its network of Accredited Installation Partners, industrialising robot manufacturing at scale, growing sales into the UK and international markets.
Redx Pharma 64p £213.3m (REDX.L)
Jazz Pharmaceuticals (NASDAQ: JAZZ) and Redx (AIM: REDX) announce the U.S. Food and Drug Administration (FDA) has cleared the Investigational New Drug (IND) application for JZP815, a pan-RAF inhibitor for the treatment of solid tumors and hematologic malignancies that contain mutations in the MAPK pathway, enabling Jazz to proceed with initiating a clinical trial for JZP815. As a result, a milestone payment of USD $5m from Jazz payable to Redx has been triggered. The milestone payment was triggered under the Agreement in which Jazz acquired Redx’s pan-RAF inhibitor programme, announced on 10 July 2019. Redx carried out development activities up to the completion of IND-enabling studies. Today’s milestone is on top of USD $6.5m already received under the collaboration and Redx remains entitled to development, regulatory and commercial milestone payments as well as incremental tiered royalties in mid-single digit percentages, based on any future net sales. Preclinical data from this pan-RAF programme was recently presented at the American Association for Cancer Research conference in March. JZP815 is a precision pan-RAF inhibitor with a differentiated mechanism of action, and Jazz expects to assess its utility in treating several types of difficult-to-treat solid tumours where there remains significant unmet patient needs. Jazz expects to advance JZP815 into a Phase 1 clinical programme and, when initiated, JZP815 will be the fifth compound discovered by Redx to enter the clinic.
Orcadian Energy 43.5p £27.7m (ORCA.L)
The low-emissions North Sea oil and gas development company, announced a seismic licensing deal with the energy data company TGS. The agreement will provide Orcadian with high quality seismic data, revealing the reservoir structures and even the likely fluid type. The deal with TGS ensures that Orcadian will be able to use the best data available to evaluate the multitude of development opportunities and prospects within its North Sea portfolio. Orcadian will gain access to 2,070 sq km of newly reprocessed and interpreted, high quality 3D seismic data covering the bulk of its licences and enabling evaluation of nearby open acreage in the upcoming 33rd round; Near term costs have been deferred and future payments to TGS will largely derive from a 1% royalty on production; TGS will, subject to Pilot FDP approval, acquire 100 sq km of new seismic over the important Elke and Narwhal discoveries; The North Sea Transition Authority (NSTA) has confirmed that acquisition of this data will satisfy the Phase B work commitment on P2482, Orcadian has requested that NSTA allows P2482 to continue into Phase B.
Scancell Holdings 14.3p £116.2m (SCLP.L)
The developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces an update to the Phase 2 SCOPE clinical trial being conducted at multiple centres in the UK. Following the approval of a protocol amendment by the Medicines and HealthCare products Regulatory Agency (MHRA), the trial will include a cohort of melanoma patients who will receive SCIB1 plus doublet therapy consisting of ipilimumab (Yervoy®) plus nivolumab (Opdivo®) in addition to the cohort who will receive SCIB1 with pembrolizumab (Keytruda®). The updated protocol also allows all patients to receive the SCIB1 vaccine as a needle-free injection.
Tertiary Minerals 0.16p £2.4m (TYM.L)
The traded mineral exploration and development company, whose strategic focus is on energy transition metals, advises that it has received and accepted a letter of resignation from its Managing Director, Mr. Patrick Cullen, effective 20 June 2022. The Company will seek to recruit a replacement Managing Director, with Mr. Cullen’s responsibilities being assumed by other members of the Board in the meantime. Commenting today, Executive Chairman Patrick Cheetham said: “The Board does not expect its strategy or ongoing work programmes in Zambia or Nevada to be materially affected by this change and the Board would like to thank Mr. Cullen for his contribution to the Company since joining as Managing Director in September 2021.”
T42 LOT Tracking Solutions 11.5p £6.1m (TRAC.L)
t42 loT Tracking Solutions plc, which provides real-time tracking, security, and monitoring solutions for the global supply chain, logistics, container and freight market, has received its first commercial order for t42’s sensor fusion based tracking solutions and cloud platform services in Latin America, delivered under the framework agreement with a Latin American consortium announced on 17 December 2021. In this initial order 500 units are being supplied and it is expected that further devices will be ordered for use at additional ports across Latin America, with potential sales as indicated and more fully explained in our earlier announcement in December 2021. Port authorities deploying t42’s tracking solutions benefit from increased visibility and capability to track and monitor goods in transit. The customer is a Latin American consortium of five leading local companies responsible for providing local port authorities with trade data for a major regional port in Latin America. t42’s tracking solutions and services will help manage the growing trade through the port.
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 any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective 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, such information has not been independently verified and therefore it is not possible to confirm such information 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, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).
Any and all opinions expressed are current as of the date appearing on this face of 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, 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, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, 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, 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 United Kingdom, 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 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) 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 any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
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 territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.
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, 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.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.
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”.
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 any such action. This document has no regard for the specific investment objectives, financial situation or needs of any specific person or entity and is not a personal recommendation to any such person or entity. Recipients should reach an individual investment decision, based upon their respective 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, such information has not been independently verified and therefore it is not possible to confirm such information 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, officers, employees, agents or associated undertakings in relation to the accuracy, completeness or reliability of the information contained in this document, nor should it be relied upon as such.
The content of this document includes market commentary and other information which we have prepared in relation to the company referred to in this document, which is our broking client. The provision of this document to you constitutes a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of Regulation 600/2014/EU (MIFID II Regulation).
Any and all opinions expressed are current as of the date appearing on this face of 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, 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, constitutes non-independent research (as such term is defined in the Financial Conduct Authority’s Conduct of Business Sourcebook to reflect the requirements of the MIFID II Regulation and Directive 2014/65/EU (known as MIFID II)). The individuals who prepared this document may be interested in shares in the company concerned and/or other companies within its sector, 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, 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 United Kingdom, 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 (SI 2005/1529) (as amended) or (ii) persons who are each a professional client or eligible counterparty (as those terms are defined in the Financial Conduct Authority’s Conduct of Business Sourcebook) 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 any person who would be classified as a retail client under the Financial Conduct Authority’s Conduct of Business Sourcebook.
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 territorial and/or extra-territorial securities laws, whether in the United Kingdom, the United States or any other jurisdiction in any part of the world.
Where possible this document is made available to all relevant recipients at the same time. Dissemination of research by Hybridan LLP is monitored to ensure that it is only provided to relevant persons. Research prepared by Hybridan LLP is not intended to be received and/or used by any person who is a retail client.
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, 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.
This document may not be copied, redistributed, resent, forwarded, disclosed or duplicated in any form or by any means, whether in whole or in part other than with the prior written consent of Hybridan LLP.
MIFID II status of Hybridan LLP research
The cost of production of our corporate research is met by retainers from our corporate broking clients. In addition, from time to time we issue further communications as market commentary (such as our daily newsletter, Small Cap Breakfast), which we consider to constitute a minor non-monetary benefit which is capable of enhancing the quality of service provided by Hybridan LLP and which is of a scale and nature which could not be judged to impair the duty of Hybridan LLP to act in the best interest of its client falling within article 24(7)(b) of the MIFID II Regulation.
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”.
