Given the way that we are being served up virus variants on a regular basis, it would appear that the mood is shifting towards the prospect of universal vaccines for the most difficult diseases, including COVID-19. What was interesting in terms of the latest RNS from pharma services group Open Orphan (ORPH) is that investors seemed to particularly warm to “Hot Topics – Vaccine Solutions for Tropical Diseases” written by Adrian Wildfire, Director of Scientific and Business Strategy and Bruno Speder, VP of Regulatory Affairs and Consultancy Services at hVIVO, a subsidiary of Open Orphan plc. The shares added nearly 4% to close at 29.5p.
Experienced traders were pointing to Vela Technologies (VELA) to be front and centre amongst small cap opportunities, in the wake of the latest GM and the issue of placing shares. This was seen as clearing the way, finally, for the company to accelerate its strategy of buying into the low hanging fruit of the small cap space, including pre-IPO, disruptive technologies and under valued companies. Shares of Vela rose 3%.
Shares of controversial (if you are short) Russia focused Palladium specialist Eurasia Mining (EUA) rose sharply by 18%, as some in the market were assuming that the time is finally upon us when a sale may go ahead. There was speculation on the matter, including the mention of mining giant Anglo American (AAL), although this may have been a case of adding one plus one to make rather more than two. What is clear is that after such a long wait for a sale we may be treated to further examples of M&A cabin fever, before the matter is put to bed.
Another stock which has divided the bulls and the bears almost right down the middle has been Remote Monitored Systems (RMS), now most famous for its Pharm2farm anti-viral face masks. It was made just a little more famous by an ITV news feature highlighting the mask’s inventor and private investors’ favourite wunderkind, Dr Gareth Cave. The shares also rose 18% in the run up to the news story going live after the stock market close.
Xtract Resources (XTR) was back in focus with an update on the completion of the fifth hole of the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger porphyry copper-gold exploration project located in the Lachlan Fold Belt, New South Wales, Australia. Here the company said that Hole BRDD-21-005 has, as anticipated, encountered visually similar mineralisation to that seen in hole BRDD-21-003. It said it continues to refine its model to better understand the orientation and attitude of the porphyry system. The process will be further aided when it receives split core assays, with the first batch expected shortly.
TR1 excitement was provided at Canadian Overseas Petroleum (COPL) where the highlight earlier in the week was how well the stock swallowed the latest placing. Part of the evidence for this was delivered by Clarendon Trust, which disclosed a 3.87% stake in the forthcoming owner of Atomic Oil & Gas. Clearly, the investment was taken by the market as a vote of confidence on the imminent deal, and prospects for COPL post this event.
I3 Energy (I3E) was up again, nearly 20%, as investors pointed to a bullish Canadian report regarding the company, especially the mooted discount to its peers. This was understandable given the way that it has taken the best part of three months for the stock to start sizzling even though a chunky maiden dividend has been flagged for months, and the oil price has risen significantly since this announcement was made.
There was rather good news for shareholders of Netscientific (NSCI), the life sciences and sustainability technology investment group. It said that PDS Biotech’s proprietary Versamune®T-cell activating technology, in which it holds 5.75%, had announced that its COVID-19 vaccine consortium has received funding of up to approximately US$60 million to support the clinical development and commercialization of a novel, Versamune®-based, second generation COVID-19 vaccine in Brazil. Shares of NSCI were up 35%, mirroring the share price rise of PDS in the US.
Proving that a leopard can change its spots successfully, Fragrant Prosperity (FPP) saw its shares rise 6%. The comes in the wake of the company, which was originally listed on the London Stock Exchange’s Main Market to seek to acquire a target company or business with a particular focus on the financial services sector, switching to the medicinal cannabis and CBD Wellness sectors. The share price rise suggested to some that this month’s £543,000 fund raise and associate placing slack, is starting to work its way out of the Fragrant Prosperity system.
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 here. The author may or may not own shares in the stocks mentioned.