RNS Hotlist April 13: Ananda, Angle, Bradda, Corero, Emmerson, Jangada, Landore, Synergia, Tlou

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

Ananda’s (ANA) whose ambition is to be a leading provider of high-quality medical cannabis announced that preparation is well underway at DJT Plants Limited for the construction of a medical cannabis flower processing facility. MRX1,the  first cannabidiol medical cannabis oil from MRX Medical Limited, will be launched commercially in June 2023, with two medical cannabis clinics agreeing in principle to prescribe it. Genetic stabilisation has successfully completed its first generation and the process is expected to speed up significantly across the following generations. MRX1 cannabidiol medical cannabis oil has been put on stability trials ahead of being used in two Randomised Controlled Trials. The company said it is no coincidence that it is now in a position to launch medical cannabis oils and getting close to constructing its medical cannabis flower processing facility, at the same time as Prohibition Partners, one of the leading industry commentators, predicts that the UK will become the second largest medical cannabis market in Europe this year.

Comment: Shares of Ananda have nearly doubled from the beginning of last month, as the company demonstrates it is set to execute its strategy following the acquisition of MRX, and generate revenue.

Tlou Energy (TLOU) announced that work has begun on the next phase of drilling at Tlou’s Lesedi Gas-to-Power project. The Lesedi 6 gas production pod spudded on 10 April 2023 and is at a depth of approximately 59m. The company said Lesedi 6 is the first well of a proposed drilling program to expand gas production at the Lesedi project. Gas flows from Lesedi 6 are planned to be converted to electricity for the existing 10MW Power Purchase Agreement (PPA) with Botswana Power Corporation (BPC) once the transmission line, substations and associated electrical infrastructure are in place.

Comment: Shares of Tlou have been positively poised of late, as if waiting for today’s positive update. This could be enough to deliver a near term positive re-rate.

Corero Network Security (CNS), a provider of cyber defense solutions, announced significant orders from both new and existing customers for its market-leading SmartWall® DDoS protection solutions and services in Q1 2023. The Orders, which fall within Corero’s ideal customer profile, total $2.0 million (average value per customer of $380,000) over the course of the contracts. The company said it has renewed its focus on Corero’s ICP with a more targeted sales and marketing approach to ultimately drive revenue growth.

Comment: It is clear that the London market has something of a blind spot regarding cyber security, indeed, anything tech. At least in the case of CNS the latest announcement should be enough to turn around the recent share price declines, if only temporarily.

ANGLE (AGL), a liquid biopsy company, announced that it has signed a contract with a new customer, Crescendo Biologics Limited. Crescendo is a UK-based, clinical stage immuno-oncology company with an extensive proprietary pipeline of novel, targeted T cell enhancing Humabody® therapeutics. AGL said the use of CTC biomarkers in clinical trials is a rapidly growing field, facilitating the identification of druggable targets as well as providing prognostic information, predicting treatment response, resistance, and patient relapse.

Comment: Given the share price performance of AGL in recent months, one would welcome today’s signed contract news. Presumably, AGL will have to deliver many more of such deals to get the stock back to where it was this time last year.

Jangada Mines (JAN), a natural resources development company, announced that it has received positive test results regarding the extraction of high-grade titanium dioxide and vanadium pentoxide  from its Pitombeiras vanadium titanomagnetite project in Brazil. JAN continues to hold a 9.5% stake in Blencowe Resources  (BRES) which is advancing the Orom-Cross graphite project in Uganda. Jangada said Fodere’s successful extraction of high-grade vanadium and titanium from material from the Pitombeiras project utilising cost efficient environmentally sound technologies is a major boost.

Comment: Shares of JAN have risen off their lows around 10% in recent days, with today’s news likely to continue this re-rate. As far as the stake in BRES was concerned, of course we all knew about that?

Bradda Head Lithium (BHL), the North America-focused lithium development company, announced that the company has acquired 100% of three inlier lode claims in the middle of its Central San Domingo claim block, in Arizona. The company said it was delighted to have acquired these three claims. They are located right at the heart of its San Domingo district, a district where its recent assay results have already proved to have district scale potential with multiple areas showing promising results and high-grade lithium intersections with visible spodumene.

Comment: BHL continues to be something of a head scratch situation in terms of why the market is giving the stock price the cold shoulder. At least it is getting on with the job as far as San Domingo.

Landore Resources (LND) reported on the results of the 2023 soil sampling programme carried out along strike to the west of its BAM Gold Project, Junior Lake Property, Ontario, Canada. The company said the highly successful 2022 exploration drilling and soil sampling programmes on the Junior Lake Property, have identified new targets for both gold and strategic metals which have the potential of being advanced into additional resources. This further supports the Directors’ opinion that the Junior Lake Property has the excellent potential to host significant volumes of both gold and the highly sought after Strategic Metals for battery production.

Comment: With shares of LND having been bouncing along the bottom in recent months, one would assume that there will be some kind of lasting positive reaction in the stock price to today in terms of the Junior Lake Property.

Emmerson (EML), the Moroccan-focused potash development company, announced its 2022 audited results as well as an update for Q1 2023, as it moves towards construction at the Khemisset Potash Project. The company said a significant amount of work was completed during 2022 and in the first quarter of 2023, and it moves closer to obtaining the environmental approval for its project. Its efforts to finalise the remaining outstanding items with the relevant authorities in Morocco ahead of the granting of our Environmental Impact Assessment continue to be rewarded with constructive meetings and encouragement from the various agencies involved.

Comment: Given how much progress EML has made and is still making, and how one would assume that it will get Khemisset over the line, the current share price of the company remains in the miserly category. One would consider there is no reason why the stock should not be trading near 10p where it was as recently as May last year.

Synergia Energy (SYN) updated concerning the Cambay PSC. The jet pump artificial lift equipment for the C-77H well is on schedule for delivery late May / early June 2023.  The currently producing two C-77H re-frac zones continue to produce on plateau at c. 150,000 SCFD, despite the extensive column of condensate in the well. The company anticipates that production from these two zones will be enhanced by the jet pump installation and this enhanced production will be further increased by the contribution of the re-connected original four zones in the C-77H well. The farm out discussions are ongoing and the company does not anticipate that the C-77H artificial lift implementation will have an impact on the farm out process being concluded.

Comment: It will be worth noting whether today’s assurance regarding the farm out process being concluded will allow shares of Synergia to return to the dizzy heights of 0.2p we saw in February.

 

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Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written or said here.

 

Zak Mir

Zak Mir

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