Golden Metal Resources Plc a mineral exploration company focused on tungsten, gold, copper, silver and zinc within Nevada, USA intends to join AIM. It was established on 22 April 2021 as a company registered in England and Wales for the purpose of holding all of the Nevada mining assets of Power Metal Resources plc (AIM:POW). The Company holds four mining assets comprising the wholly owned Pilot Mountain, Garfield and Stonewall projects together with an earn-in option over the Golconda Summit project. Each of the projects consists of mining claims located entirely on land managed by the United States Bureau of Land Management. £1.98m total capital to be raised. Anticipated market capitalisation on admission £7.16m. Expected Admission 10 May 2023.
Capital Metals 4.6p £8.7m (CMET.L)
A mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka (Project), announces that the Company has signed a Memorandum of Understanding (MoU) with LB Group. LB Group is expected to fully fund the Project, which is estimated to cost US$81m. The JV will fund any expansion of the Project parameters on a 50/50 basis. All funding is to be by way of equity on a staged basis to achieve 1.65m tonnes per annum mining rate capacity and processing to final products.
Echo Energy 0.043p £2.4m (ECHO.L)
The Latin American focused energy company, announces the execution of a binding Term Sheet for a transaction, designed to provide much needed funding for the Company through the sale of 65% of the Company's 70% of the current working interest in Santa Cruz Sur to Selva Maria Oil S.A. and Interoil Exploration and Production ASA for a cash consideration of up to £1.725m. Furthermore, Selva Maria Oil SA and Interoil Exploration & Production ASA have agreed to subscribe to c.115.38m shares at a price of 0.065p per share (raising £75k) for additional working capital.
Frontier IP Group 66p £36.7m (FIPP.L)
A firm commercialising intellectual property, announces that portfolio company Alusid Limited (Alusid), where the Company holds a 37.5% equity stake, has launched its first range of mass-produced wall tiles made from its sustainable materials with Topps Tiles. A first range of wall tiles has already been launched exclusively in UK retail by Topps Tiles. The range named Principle, are made on industry-standard mass production equipment from a minimum of 91% recycled industrial waste. Principle tiles are made using 23% less gas during production than the equivalent counterpart.
Global Connectivity* 1.62p £5.88m (AQSE: GCON)
Formerly known as Rural Broadband Solutions Plc, a company focused on communication services and technologies that enhance connectivity, announces that it has appointed Hybridan LLP as its AQSE Corporate Adviser with immediate effect. Hybridan remains AQSE Corporate Broker to the Company.
Petards Group* 8.5p £4.8m (PEG.L)
The developer of advanced security and surveillance systems, reports its audited final results for the year ended 31 December 2022. Total revenues decreased 19.9% to £10,872,000 (2021: £13,574,000) however, gross profit margin increased to 51.0% (2021: 44.9%). The Company’s adjusted EBITDA decreased 24% to £1,161,000 (2021: £1,534,000) and profit after tax was £524,000 (2021: £865,000). The focus of the Group's business in 2022 was on shorter delivery, lower value but higher margin contracts, and at year end the order book stood at just over £4m (31 December 2021: £7m). The Board's objectives for 2023 are for improved results, strong cash generation and to further strengthen the Group's portfolio of businesses.
Physiomics* 3p £2.9m (PYC.L)
The mathematical modelling company supporting oncology drug development and personalised medicine solutions announces the publication of an original article "Should personalised dosing have a role in cancer treatment?" in a special edition of the journal Frontiers in Oncology focused on the FDA's Project Optimus. Project Optimus has relevance to PYC both in its core consulting business and its personalised oncology initiatives.
Plant Health Care 10.55p £32.8m (PHC.L)
A provider of peptides for plant protection to global agriculture markets, announces that its new PREtec product PHC68949 has received the first stage of regulatory approval for commercial use in Brazil. PHC68949, a novel technology that amplifies a plant's natural defense against damaging nematodes (bionematicide), which have been estimated to cause up to 12.3% of annual crop loss, worth approximately $157bn per year. After its initial launch for use in soybeans, the Company expects to introduce PHC68949 in other crops in Brazil and aims to achieve revenues of $30m by 2025.
Reabold Resources 0.178p £16.4m (RBD.L)
The oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, announces that it has entered into a conditional subscription and option agreement with LNEnergy Limited (LNEnergy). Reabold will initially acquire an interest of 3.1% of LNEnergy for cash consideration of £250k, and receive options to acquire further shares in LNEnergy totalling a 25.0% shareholding in LNEnergy for aggregate cash and equity consideration of £3.8m. First gas production for LNEnergy is targeted for early 2025 and is aligned with Reabold's strategy to help to progress high quality pre-cash flow projects.
Serabi Gold 31p £23.5m (SRB.L)
The Brazilian-focused gold mining and development company, announces the appointment of Deborah Gudgeon as a Non-executive Director with immediate effect. Ms Gudgeon qualified as an ACA accountant at PwC (Coopers & Lybrand) and has significant experience in acting as an independent non-executive director.
XLMedia 11.75p £30.5m (XLM.L)
The digital media company that manages a portfolio of premium brands with an emphasis on Sports and Gaming in regulated markets, announces that, in line with its strategic objective to diversify revenue, it has signed a hybrid revenue agreement with bet365. The agreement, which combines customer acquisition with longer term retention, forms the basis of a multi-year partnership between the two brands and deepens the commitment both XLMedia and bet365 have made to North American expansion.
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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.
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