Small Cap Feast

22nd September 2023

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Asiamet Resources 1.1p £24.5m (ARS.L)
A copper producer focused on the development of a portfolio of large copper, copper-gold and polymetallic deposits in Indonesia, announces the appointment of Mr Matthew Doube as a Non-Executive Director and the retirement of Non-Executive Director, Mr Faldi Ismai. Mr Doube is a highly experienced senior executive with an extensive background in investment banking, corporate finance and strategy, including more than fifteen years in the metals and mining sector and was previously CFO for Gold project in Indonesia.

Comptoir Group 6.0p £7.4m (COM.L)
The owner and/or operator of Lebanese and Middle Eastern restaurants, announces its interim results for the six-month period ended 2 July 2023. Group revenue was £14.8m, an increase of 2.1% (H1 2022: £14.5m), gross profit remained consistent at £11.5m (H1 2022: £11.5m) and adjusted EBITDA was £1m, a decrease of 73.7% (H1 2022 restated: £3.8m). The Company held net cash of £5.7m at period end. The Company currently owns and operates 20 restaurants, with a further 6 franchise restaurants. Terms have been agreed for 2 new sites including a London flagship restaurant, opening in early 2024.

Journeo 204p £33.1m (JNEO.L)
A provider of information systems and technical services to transport operators and local authorities, announces it has received a £2m purchase order from a Northern Transport Partnership. The purchase order builds on previously announced orders for Journeo's Thin-Film Transistor (TFT) and Liquid Cystal Display (LCD) technologies. This purchase order is included in management's expectations of performance for FY23 and FY24.

Katoro Gold 0.075p £0.5m (KAT.L)
The strategic and precious minerals exploration and development company, announces its unaudited interim results for the six-month period ending 30 June 2023. The Company currently generates no revenue and had a net liability position of £303k and available cash reserves of £25.4k as at 30 June 2023 The Company's existing cash resources are expected to run out by approximately the end of September 2023 and therefore the Company is reliant on completing a fundraise by that date to fund its ongoing working capital. On 3 April 2023, the Company announced the successful conclusion of a fundraise through which an amount of £150k has been allocated towards working capital.

Kibo Energy* 0.055p £2.1m (KIBO.L)
The renewable energy-focused development company, announces that its UK-based multi-asset operator subsidiary Mast Energy Developments (MED), has extended the completion long-stop date for MED’s first definitive and binding Joint Venture Agreement. The revised completion date is now expected around mid-October 2023. This will allow for the JV investor consortium to complete the compulsory statutory process as set out in the announcement of 1 September 2023. Whilst disappointed at these ongoing delays in finalising completion of the investment into MED, the company remains in continuous dialogue with the investor consortium and continues to be assured by them of their commitment to make this investment and to complete the transaction as soon as possible.

Kodal Minerals 0.54p £91.9m (KOD.L)
The mineral exploration and development company focused on lithium and gold assets in West Africa, provides an update on its Bougouni Lithium Project in southern Mali (Project). As announced on 19 January 2023, the funding package agreed between the Company and Hainan comprises a US$100m investment to acquire 51% of the Bougouni project company. Kodal welcomed key Hainan representatives that will form part of the Le Mines de Lithium de Bougouni SA (LMLB) management for the development and operation of Bougouni. LMLB is held by Kodal Mining UK Limited, the Company's UK registered subsidiary formed to be the holder of the Mali lithium assets and further to the announcement on 16 December 2022, has formally submitted to the Direction Nationale de la Geologies et des Mines the Notification of the proposed mining phases to commence at Bougouni.

Mothercare 4.3p £24.2m (MTC.L)
The brand that connects with the parents of babies and children across multiple product categories, announces the results for the year to 25 March 2023. Net worldwide retail sales by franchise partners increased by 9% to £322.7m (2022: £297.1m excluding Russia, £385.3m including Russia). Adjusted EBITDA dropped 44% to £6.7m (2022: 12.0m) however ahead of expectations. Net borrowings were £12.4m (2022: 9.9m), up 25%. Gross cash was £7.1m against a £19.5m existing loan facility which is fully drawn across the year. The Company expects to complete a refinancing owing to increased interest rates and remains focused on delivering c.£10m operating profit.

OptiBiotix Health 27.25p £24.8m (OPTI.L)
A life sciences business developing compounds to tackle obesity, cholesterol, diabetes and skincare, announces that it has reached agreement to launch its own brands of SlimBiome®, GoFigure®, and Snacksmart® products online with Boots in Q1 2024 with a potential store launch in May 2024, subject to Boots instore category rebuild. OptiBiotix is now building a multichannel presence with major online and in store retailers both nationally and internationally.

Sutton Harbour Group 15.5p £20.1m (SUH.L)
The marine and waterfront regeneration specialist, has exchanged on the sale of an apartment for £475k in the Company's development under construction known as Harbour Arch Quay to Beinhaker Design Services Limited (BDSL). This transaction represents a related party transaction, as BDSL represents 56% of the holdings of FB Investors LLP, which holds a 75.38% holding in the Company. The Harbour Arch Quay development comprises 14 apartments consists of fourteen apartments. The Company has exchanged contracts on 13 including this latest one.

UK Oil & Gas Investments 0.037p £7.9m (UKOG.L)
The UK-based oil and gas exploration and production company announces that following the temporary suspension of Pinarova-1 testing operations, larger and more powerful 7-inch perforating guns, capable of fully penetrating Pinarova-1's 9⅝-inch casing and cement and available for import into Turkey, have now finally been sourced. The Company is working closely with the Pinarova-1 operator, Aladdin Middle East, to facilitate delivery to the site such that testing operations can recommence.

22 September 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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