Small Cap Feast

25th March 2024

Dish of the day
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Dish Of The Day:



Whats baking in the oven?

Potential Initial Public Offerings:

21 March 2024: Helix Exploration —The Company pursuing the exploration, commercial development and monetisation of a non-hydrocarbon associated helium rich gas structure in the Ingomar Dome located in central Montana, USA announces its intention to list its shares on AIM. Total capital to be raised on Admission of up to £7.5m. Expected Admission date of early April 2024.

18 March 2024: European Green Transition **** is developing a portfolio of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition and announces its intention to conduct a fundraise and to list its ordinary shares on AIM. The Company intends to implement a disciplined M&A focused model and has already acquired a portfolio of assets, notably their principal Olserum Rare Earth Element (REE) project.

Reverse Takeovers:

Change of Market:

Banquet Buffet

Aeorema Communications 60.5p £5.8m (AEO.L)
The strategic communications Company announces its unaudited interim results for the six months ended 31 December 2023. Revenue decreased 8% to £6.5m (H1 FY 2023: £7.1m), the loss before tax was £243k (H1 FY 2023: profit of 326k), and the cash position was £3.7m. The Company is expecting to reaffirm commitment to shareholders by maintaining its dividend policy.

Brand Architekts 20.5p £5.7m (BAR.L)
The development and supply of beauty and personal care brands Company announces its interim results for the six month period ended 31 December 2023. Revenue decreased to £8.7m (H1 FY 2023: £10.6m), the loss before tax decreased to £0.8m (H1 FY: £1.8m) and the net cash was £7.2m (H1 FY 2023: £8.1m). Against the backdrop of a challenging market, the Company’s strategy of deliberate brand rationalisation, portfolio focus and rigorous cost control is beginning to help with its medium term financial aims and will ultimately lead to a return to profitability, according to the Company.

GCM Resources 9.15p £22.3m (GCM.L)
The mining and energy Company announces the appointments of Paul Shackleton and Charlie Green to the Board as independent Non-Executive Directors with immediate effect. Paul Shackleton will serve as acting Chairman. Paul Shackleton is an experienced London based corporate finance adviser and broker who, since 1996, has specialised in both domestic and international AIM traded companies.

Goldplat 6.1p £10.2m (GDP.L)
The Mining Services Group with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry announces its unaudited interim results for the six months ended 31 December 2023. Revenue increased 82% to £37.4m (H1 FY 2023: £20.5m), the net profit decreased 33% to £1.17m (H1 FY 2023: 1.74m) and the net cash balance decreased to £1.69m (H1 FY 2023: 2.78m). In 2024, the Company stated that it is looking to grow its customer base in Southern Africa, West Africa and South America.

I3 Energy 10.67p £128.3m (I3E.L)
The independent oil and gas Company with assets and operations in the UK and Canada announces the results of its 2023 year-end reserve report, for its subsidiary i3 Energy Canada Ltd. The Before-tax Net Present Value of cash flows attributable to the Company's reserves, discounted at 10%, has been determined to be $303.1m, $501.3m and $1,026.4m for its PDP, 1P and 2P reserves. Total Company Interest Total Proved reserves and Total Proved plus Probable reserves were effectively maintained year-over-year at 92.9m barrels of oil equivalent and 179.9m boe, respectively.

Jadestone Energy 23.75p £128.4m (JSE.L)
The independent upstream Company focused on the Asia-Pacific region announces the following changes to its Board of Directors. Further to the announcement of 23 February 2024, Dr Adel Chaouch has been appointed to the Board as an independent Non-Executive Director. Dr Chaouch was Executive Director and Chief Executive Officer of ShaMaran Petroleum Corp., part of the Lundin Group of Companies, operating in the Kurdistan Region of Iraq, and prior to that he led Marathon Oil Company's interests in the Middle East and North Africa.

Ocean Harvest Technology 12.5p £15.7m (OHT.L)
The researcher, developer and supplier of proprietary blended seaweed products as functional additives for the global animal feed industry announces its results for the year ended 31 December 2023. Revenue increased 12% to £3.36m (2022: 3m), the loss before tax increased to £3.48m (2022: £2.9m), and the cash balance increased to £2.6m (2022: £1.2m). A solid outlook for 2024 was given by the Company, with sales growth expected from a number of channels.

Oriole Resources 0.27p £10.5m (ORR.L)
The gold exploration Company focussed on West Africa provides an update for its 82.2%-owned Bibemi orogenic gold project in Cameroon, where a Phase 5 diamond drilling programme has been planned and is scheduled to commence in Q2-2024. In January 2024, the Company reported an updated pit-constrained Mineral Resource Estimate for the Bakassi Zone 1 prospect of 5.1m tonnes grading 2.30 grammes per tonnes gold for approximately 375k ounces Au in the JORC Inferred Resources category. The MRE remains open along strike to the northeast and at depth.

RTC 85p £12.5m (RTC.L)
The recruitment business that focuses on white and blue-collar recruitment, providing temporary and permanent labour to a broad range of industries and customers, in both domestic and international markets, through its geographically defined operating divisions announces its audited results for the year ended 31 December 2023. Group revenue from continuing operations increased to £98.8m (2022: £71.9m), EBITDA increased to £3.8m (2022: £0.6m) and net assets increased to £7.9m (2022: £6.2m). The Company’s 2024 objective is to continue to trade profitably and deliver a consistent annual return on investment for shareholders.

Virgin Wines UK 40p £22.4m (VINO.L)
The direct to consumer online wine retailers today announces its unaudited interim results for the six months ended 29 December 2023. Total revenue increased 2% to £34.3m (H1 FY 2023: £33.6m), the underlying EBITDA increased 122% to £1.76m (H1 FY 2023: £0.75m), and the net cash increased to £11.0m (H1 FY 2023: £7.6m). A positive H1 performance in spite of cost and consumer pressures gave confidence to the Company in stating its ability to meet FY24 profit expectations.

25 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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