Small Cap Feast

15th March 2024

Dish of the day
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Dish Of The Day:



Forward Partners Group (FWD.L) has left AIM following its acquisition by Molten Ventures (GROW.L) 

Whats baking in the oven?

Potential Initial Public Offerings:

Reverse Takeovers:

Change of Market:

Banquet Buffet

Alien Metals 0.12p £7.6m (UFO.L)
The company focuses on the exploration and development of the Hancock iron ore project and the Pinderi Hills project in Western Australia, advises that it has entered a short-term funding facility and continues to progress project development across its diversified resource portfolio. A funding package of up to A$2m has been made available through a convertible loan note. Furthermore, appointment of Technical Director, Mr. Rob Mosig, to the Board as a Non-Executive Director, who brings significant expertise in exploration, development, and strategic partnering.

Atlantic Lithium 18.46p £119.9m (ALL.L)
The African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine announces its unaudited Interim Results for the half-year period ended 31 December 2023. Successful Equity Placing raising A$8m, enabling the completion of the activities agreed under the grant of the Mining Lease for the Project, key items of early works and permitting-related Project expenditure, further extensional drilling, and for working capital purposes. Furthermore,  a strong cash position of A$9.6m at 31 December 2023.

Biome Technologies 107.5p £4.1m (BIOM.L)
The bioplastics and radio frequency technology business announces that its RF Technologies division has been awarded a further contract win.  The contract has a revenue value of £536,000 to supply two radio frequency welding systems  for use by an international corporation in the medical supply sector. The Systems will use a modular machine platform which integrates automation and RF welding. Completion of the Systems is scheduled within the 2024 financial year, with stage payments being received against milestones during the contract.

Capital Metals 3.6p £11.2m (CMET.L)
The mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka announces the strategic acquisition of 10% of the Company by Sheffield Resources Limited, the 50% owner of the Thunderbird mineral sands mine in Western Australia.  Sheffield Investment of £1.25 million for 10% of the Company's issued share capital at 3.623p per share. 12-month option for Sheffield to invest a further £0.844 million at 4.891p per share. Outline terms agreed with Sheffield to contribute funding to support the Project into production in exchange for up to a 50% interest in the Project subject to, inter alia, due diligence over a 60-day period

Cornish Metals 9.75p £54.2m (CUSN.L)
The company announces today the departure of Chief Executive Officer, Richard Williams, effective on March 31, 2024, when he will also leave the Company's Board. Mr. Williams will remain available to the Company on a consulting basis going forward. Ken Armstrong, Non-Executive Director will step in as Interim CEO and Patrick Anderson, Chairman of the Board, will become the Executive Chairman of the Company during the transition and search for a permanent CEO to lead the Company through the next stage of development of South Crofty as the Company moves towards construction.    

European Metals 14p £29m (EMH.L)
The Company announces its interim financial report for the half-year ended 31 December 2023.  Revenue increased to $325k(H1 FY 2022: $146k).  Loss before income tax decreased to $1,130,439 (H1 FY 2022: $3, 786, 950).  Cash has decreased to $5,668,926 (30 June 2023 : $8,892,951).

Sareum Holdings * 23.5p £16.5m (SAR.L)
The clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer announces that the European Patent Office has issued a Notice of Allowance for a patent relating to SDC-1801, the Company's lead TYK2/JAK1 kinase inhibitor, currently in clinical development in Australia. The newly approved European patent application, EP3864009, safeguards SDC-1801, its medical applications particularly in the treatment of autoimmune diseases, and certain methods of synthesis. This follows approvals in 2023 by the China National Intellectual Property Administration, and the Japan Patent Office for the same protections.

Trident Royalties 35.5p £104m (TRR.L)
The diversified mining royalty company noted some announcements by Lithium Americas Corporation in relation to its Thacker Pass Lithium Project. Trident holds a net 1.05% gross revenue royalty over Thacker Pass (after expected exercise of a partial royalty buyback, which would see $13.2m to Trident). LAC has received a conditional commitment from the U.S. Department of Energy for a $2.26bn loan under the Advanced Technology Vehicles Manufacturing Loan Program for financing the construction of the processing facilities at Thacker Pass. The Loan is intended to help finance the construction of Thacker Pass, targeted to produce an initial 40,000 tonnes per year of battery grade lithium carbonate.

Wishbone Gold 1.25p £3.8m (WSBN.L)
The Company announces that initial results from the diamond drill program at its 100% owned Cottesloe Project has highlighted significant mineralisation potential. The information gathered to date is highly encouraging, confirming the overall exploration model for a major sediment hosted metals system focused on base metals and silver. The base metals identified are critical to the development of lithium-ion batteries used in electric vehicles and in energy storage systems integral to the global push towards lower carbon emissions.

Zephyr Energy 2.7p £45.5m (ZPHR.L)
The Rocky Mountain oil and gas company focused on responsible resource development from carbon-neutral operations  announces that following a detailed selection process, Zephyr has signed a rig contract with Helmerich & Payne for its Rig 257 which will be used to redrill the State 36-2 well on the Company's project in the Paradox Basin, Utah, U.S. Rig 257 is a Flex 3 1,500HP drilling rig fully capable of drilling the planned well and managing the high reservoir pressures expected to be encountered.  The rig is wrapping up a sustained and successful drilling campaign in the nearby Uinta Basin and will mobilise to the State 36-2R well site in the near-term, with an expected spud in mid-April.  

15 March 2024
*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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