Stock Market Watch: #ICON #EEE #KAT #LSAI #INX #PANR #RMS #XSG #SLE #ASLR

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

Asimilar (ASLR) shares finally ended a poor month since returning from suspension, with the stock up 14%. The trigger for the recovery appeared to be board changes announced earlier this week in the form of former research analyst and former FTSE 100 insurance group fund manager, Mark Horrocks, joining as a non-executive director. Earlier in September Asimilar investee Intrinsic Capital, subscribed in 17.5m shares in EdTech group Dev Clever (DEV).

Oil & gas investor San Leon Energy (SLE) unveiled its interim results and a confirmation that it had returned $35m to shareholders over the first six months of the year. It also continued its still relatively unappreciated strategy, of investing via high interest bearing loans, with two new targets, $15m into Energy Link Infrastructure, and $7.5m into Decklar Petroleum. The coupons on these investments is to be 15% and 10% respectively, with the shares settling at 26p.

Tiziana Life Sciences (TILS) was in the limelight in the way of announcing an appearance by the CEO, Dr Kunwar Shailubhai. In it he discussed the planned spinout of StemPrintER, into a new company – Accustem Sciences, as well as the prospect of a fast tracked Foralumab clinical study in Brazil. This was enough to take the shares up 11% to 142p.

Shares of Australian gold play Empire Metals (EEE) continued their recent recovery after a placing and on speculation that a stock overhang had been cleared. The run up to fresh drilling next week and hopes regarding the company’s Georgia assets meant that the stock was able to manage a 16% rise, closing at 2.98p.

Katoro Gold (KAT) added to its recent bull run with another 10% gain following this week’s interim results and news of a 1.34m gold tailings reprocessing contract. However, of perhaps even more interest to traders is when the knock-on effect of Kibo Mining (KIBO) owning 29.7% of rising Katoro, will start to kick in. Kibo Mining has been one of the last mining minnow dominos yet to rise, in this case through 0.3p. Speculation is that the overhang in the stock is set to break imminently, boosted by the rising value of its holding in Katoro.

The roller coaster at Iconic Labs (ICON) continued after a painful retreat from 0.03p plus last week. Support for the shares once again came in towards 0.01p, while a retreat from the shareholders register by European High Growth Opportunities, and speculation regarding any fresh announcement from Joe Media, meant that the latest battle was resolved in favour of the bulls and a resulted in a 34% gain.

Xeros Technologies (XSG), a clothing technologies platform group, seemed to have finally shrugged off the selling pressure on the stock, in the wake of interim results, with an 18% rise. This came off the back of improved financial metrics from the company this week such as net cash outflow and adjusted EBITDA. It was particularly helpful that the company has bitten the bullet in terms of selling off its underperforming Hydrofinity customer contracts last year.

There was a similar turning around of the fundamental oil tanker at Location Sciences (LSAI), where the key accounting metrics were also markedly improved at the interim stage as reported this week. The location sciences specialist saw revenues up, and costs down, with its Verify Audience launch in the US in June being the flagship trigger during the period. The stock was up 15% as some in the market were looking for fresh contract news to land over the near term.

Remote Monitored Systems (RMS) continued its recent share price recovery, with a 15% rise. Indeed, it appeared that the market was waiting for the company, who recently acquired anti-viral face mask producer Pharm 2 Farm, to get its half yearly report out of the way, which it did to end the week. With £360,000 in the bank and the starting gun for production of the face masks in Q1 2021, investors seemed happy to bet on the ongoing proof of concept process in the meantime.

Cloud based strategy execution software solutions group i-nexus Global (INX) looked as though it was vying to be the next small cap recovery situation of note, after confirming earlier this month that it had reached monthly operating costs of breakeven. Traders bid the stock up 27%, as they were apparently counting the days to further news regarding new contracts.

Shares of Pantheon Resources (PANR) added another 18% to the recent gains, now more than tripled since March lows, as the Alaska focused oil and gas exploration company confirmed the resource at Talitha. The result is that there is 302m barrels at Talitha, an amount which could be worth over £2bn to the company, with a market cap currently standing at £170m.

Disclaimer
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.

 

Zak Mir

Zak Mir

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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