Private investor favourite and shorting conspiracy target practice Remote Monitored Systems (RMS) was in focus off the back of an update from its wholly owned Pharm 2 Farm subsidiary. This was on the day that Factory Acceptance Testing of the mask making machine was due to take place, with delivery of the machine to P2F’s premises in Nottingham expected on “28th December 2020 at the earliest”. P2F said that a maximum of 1m anti-viral masks will be produced at Nottingham in January and 2m in February 2021, with subsequent production expected to build to a maximum capacity of 5m masks per month. Bulls of the stock pointed to the magnitude and proximity of production, and the prospect of getting to this destination without the need for further funding, especially off the back of pre-orders. They also suggested that the RNS portrayed an overly cautious picture of RMS’s production, contract and funding picture as if pandering to the negative agenda allegedly being run against the company.
Not quite so fast off the mark in terms of potentially releasing a RNS was Berkeley Energia (BKY). Here the shares of the uranium miner felt the benefit of a positive Spanish court ruling with a 30% rise. Rather against the current flow of mania towards all things green and clean, the ruling threw out the appeal against Berkeley’s uranium plant in Salamanca.
Building on recent gains in a significant way was Contango Holdings (CGO) with another 21% rise for the stock. The re-rate for the shares has accelerated since the natural resource development company added to its flagship Lubu Coal Project in Zimbabwe, with the Garalo Gold Project in Mali. The latter was announced at the end of October, with a management trip to Mali earlier this month seemingly adding to the momentum behind the shares over recent days.
The last we have heard of significance at Alpha Growth (ALGW), the financial services specialist in the growing Senior Life Settlement asset class was that Mark Ward had raised his stake in the company to 12.85% at the end of last month. Otherwise, traders were chasing what was described as an overdue update from the company in the form of annual results. In addition, there were hopes of more funds under management and possible news of a new credit facility and the position at the BlackOak Alpha Growth Fund. The shares soared 20% to end the week.
It was interesting that despite traders being divided between those who continued to gush regarding the prospects for Tanzania helium play Helium One (HE1), and those who had missed the boat, shares here rose another 10%. The latest driver apart from the statistic that listed primary helium stocks have risen 10x since April was the way that Finncap described HE1 as being fully funded as far as its exploration starting in the first part of 2021.
Catenae (CTEA) was back on the leaderboard, up 14% as traders pointed to the ability of the tech group to test, manage and monitor the population regarding not only COVID-19, but also any other disease, and also do the same as far as those who have been vaccinated against the likes of COVID-19, thereby being relevant in the wake of the release of vaccines against the pandemic in recent weeks.
Rocky Mountains oil and gas play Zephyr Energy (ZPHR) continued to rise to new highs, with a 12% gain. This came in the wake of the Paradox State 16-2 well update. In particular, bulls of the stock were licking their lips at the final stages of preparation ahead of the spud of the ‘dual-use’ well. Here Zephyr said it had initially targeted a spud date by 31 December and was firmly on track to deliver this key corporate objective.
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