Small Cap Feast

19th January 2024

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Dish Of The Day:



Whats baking in the oven?

Potential Initial Public Offerings:

12 Jan—The London Tunnels PLC announces its intention to seek admission to the standard segment of the Official List and to trading on the Main Market of London Stock Exchange plc (Admission). The Company plans to restore, adaptively reuse and bring back to life the Kingsway Exchange Tunnels in Central London, originally built in the early 1940s, and designed to shelter people during the London Blitz. The Company has successfully raised approximately £10m from investors and aims to admit its Ordinary Shares at a price of £2.00 per share to the Main Market of the London Stock Exchange. The Company is expected to have a market capitalisation of approximately £123 million on Admission Expected Admission to take place in January 2024.

Reverse Takeovers:

Change of Market:

Banquet Buffet

Anglesey Mining 1.8p £7.6m (AYM.L)
A Company developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, announces that the assay results have been received from the completed drill hole NCZ001. Garth Daniel Zone – Hole NCZ001 produced results of 22.0m @ 2.3% Cu, 2.8% Zn, 1.3% Pb, 5.0g/t Ag and 0.03g/t Au (3.7% CuEq / 9.2% ZnEq) from a depth of 559m. Northern Copper Zone – Hole NCZ001 had results of 11.0m @ 0.6% Cu, 1.4% Zn, 0.5% Pb, 9.0g/t Ag and 0.4g/t Au (1.3% CuEq / 3.6% ZnEq) from a depth of 503m. The Company believes these results demonstrate the prospectivity of the Parys Mountain mineralised system.

AudioBoom 252.5p £41.4m (BOOM.L)
The global podcast company announces a record number of Top 100 podcasts in the latest Triton Digital industry ranker. The company published 14 of the Top 100 shows in the US in December 2023. Audioboom remains the fifth largest publisher on the ranker and has made significant strides over the past 12 months. Audioboom's weekly audience reach of 5.1 million listeners currently sits 1.8 million behind second-placed Wondery - in December 2022 that gap to second place was 3.1 million listeners.

Avacta Group 104p £295m (AVCT.L)
A life sciences company developing innovative, targeted oncology drugs and powerful diagnostics, announces that Christina Coughlin, M.D., Ph.D. will take up the position of Head of Research and Development, overseeing all clinical development and pre-clinical research activities of the Therapeutics Division. Dr. Coughlin has served as a Non-executive Director of Avacta Group plc since March 2022 and has recently acted as Consultant Medical Adviser to the Therapeutics Division. Avacta also announces that Dr. Fiona McLaughlin will step down as Chief Scientific Officer of the Therapeutics Division after three years in the role.

Deltic Energy 23.5p £21.9m (DELT.L)
The natural resources investing company with an exploration and appraisal portfolio focused on the Southern North Sea, presents the results of a Competent Person's Report (CPR) in relation to the Pensacola Discovery on Licence P2252 in which Deltic holds a 30% interest. RPS Energy Ltd (RPS) estimates gross P50 Hydrocarbons initially in Place of 326 MMboe, in-line with Deltic's previous estimate of 342 MMboe. RPS estimates 2C Contingent Resources, net to Deltic of 21.8 MMboe in the combined case and 15 MMboe in the gas only case. Subsequent to the CPR work, appraisal well data from the analogous Crosgan Zechstein discovery has been released that supports the potential for thicker, higher quality reservoir across the crest of Pensacola.

Global Connectivity* 0.8p £2.9m (AQSE: GCON)
A company focused on communication services and technologies that enhance connectivity and a shareholder in leading UK broadband provider Voneus Limited (Voneus) through its investment in Rural Broadband Holdings Solutions Limited (RBSHL), announces that on 4 January, a further combined capital investment of £25m was made into Voneus by its shareholders and lenders. This investment in Voneus increases RBSHL's stake to 36% from 32%. Global Connectivity plc owns a 15% stake in RBSHL's common equity.

M.P. Evans Group 741p £394.5m (MPE.L)
A producer of sustainable Indonesian palm oil, announces its crop and production information for the year ended 31 December 2023. Own crops increased by 2% to 922,900 tonnes compared to 2022, Scheme-smallholder crops increased 5% to 278,500 tonnes and Independent crops purchased increased 24% to 421,500 tonnes. The Group received an average mill-gate price for its crude palm oil of US$729 per tonne in 2023, approximately 15% lower than the US$854 in the previous year and The Group continues to receive mill-gate prices in excess of US$700 per tonne.

N4 Pharma 0.93p £2.5m (N4P.L)
The pharmaceutical company developing Nuvec®, a novel delivery system for cancer treatments, gene therapy and vaccines, announces that the University of Queensland has informed the Company that it has been notified by its Indian patent attorney of the granting of its patent for Nuvec® in India. The granted patent in India is for a composition of matter patent for the particle itself as well as the manufacturing process relating to how the particle is made and matches the patents granted in the USA, Canada, Europe, Japan, Australia and China.

Prospex Energy 5.75p £19.1m (PXEN.L)
The investment company focused on European gas and power projects, provides an operational update from the Podere Maiar-1 (PM-1) well site of the Selva field, which is operated by Po Valley Operations Pty Limited (PVO), a wholly owned subsidiary of Po Valley Energy Limited. The commissioning and testing period undertaken by PVO has defined optimal well performance and PVO has confirmed that the testing was successfully undertaken at various production levels. Slick line work programmes have been completed to monitor well behaviour and any accumulation of debris and production volumes testing will continue over the next four weeks.

Rockfire Resources 0.32p £8.0m (ROCK.L)
The base metal, gold, and critical mineral exploration company, announces that Sunshine Metals Limited (Sunshine) has received first pass drilling results from Lighthouse. Sunshine is farming into Rockfire's Lighthouse tenement and has the option to earn a maximum 75% interest in the tenement by expenditure of AUD$2.2m over a 3-year period. Drilling at Lighthouse Farm-In comprised 11 RC holes (1,167m) testing three separate prospects. Drilling at Cardigan Dam (5 holes, 565m) identified multiple anomalous gold zones including requiring follow-up of: 3m @ 1.56 g/t Au from 31m (23CDRC002). Plateau drilling (5 holes, 505m) was intersected in 3 holes and returned: 1m @ 2.29 g/t Au from 41m (23PLRC004). Likely meteorite was identified in outcrop at Horse Creek.

Versarien 0.088p £0.4m (VRS.L)
The materials engineering group, announces it has raised £400k by way of a placing new ordinary shares at a price of 0.08 pence per share. The placing price represents a discount of 47% to the closing price of 0.15p as of 18 January 2024. The net proceeds will be used for corporate and working capital purposes as the Company seeks to capitalise on the growing number of opportunities in its pipeline and continues to progress its asset sales.

19 January 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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