• 02 Dec 21
Jubilee Metals (JLP) - Final Year Results (FY2021) show the pace of growth

Jubilee today announce the full year results for FY 2021 ending in June 21. It was a year of continued progress with revenues up 143% to £133m (from FY 2020), adjusted PBT up 324% to £52m and eps up 93% to 1.8p/sh – an extraordinary year – but still only the beginning of the progression in our view. Continued developments in South Africa have led to a fully flexible chrome and chrome tailings solution at Inyoni. Supply from a wide variety of sources (Run-Of-Mine, new tailings from own operati

Companies: Jubilee Metals Group PLC
  • 01 Dec 21
AFC Energy (AFC LN) - Maritime potential emerging

AFC Energy has announced that its “S” Series hydrogen fuel cell system and ammonia cracker have been selected for the Norwegian ZeroCoaster bulk cargo ship design. The proposal has also been awarded “Approval in Principle” status by DNV, the international certification agency. The announcement is another significant endorsement of AFC Energy’s technology and the group’s biggest step forward in Maritime. This is further endorsement of our investment thesis, which was refreshed in September, which

Companies: AFC Energy plc
  • 29 Nov 21
Babies and Bathwater - Picking through the sell-off

Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.

Companies: ANX IBPO CYAN SOM EQT AFM

  • 01 Dec 21
Persisting challenges lead to further downgrades

Today’s update reveals many of the challenges flagged in September have persisted. Alongside rising input/logistics costs, and volatile customer ordering, revenue guidance has been reduced by 10%. We have rippled a similar reduction through to FY22, leading to EPS downgrades of 27% this year and 38% next year. The company continues to look to 2022 with confidence, and maintains its medium term ambitions for profitable expansion.

Companies: Venture Life Group Plc
  • 30 Nov 21
Exceptional strategic execution drives FY22 upgrades

Interims confirm substantial progress is being made at Sosandar, and validate the strategy which is design-led, data-driven, agile and benefiting from forensic forward planning. The results are clear, with revenue up 184%, actives +41% and gross margin up 420bps. Alongside cost management and scale economies, EBITDA losses reduced. Supply chain disruption has been minimal and, using some of the placing proceeds, stock intake has stepped up markedly for peak as planned. This has driven sales grow

Companies: Sosandar Plc
  • 30 Nov 21
EQTEC* - EQTEC Bounce Back: Wood Group & Croatia Update

Across a broader market sell off EQTEC have shown resilience and is trading at 1.55p, above its placing in May, up 25% from one month ago.

Companies: EQTEC PLC
  • 02 Dec 21
Cenkos: Agronomics Ltd -- The new agricultural revolution

Agronomics is an investment company focused on investing in the cellular agriculture sector. The sector is responding to global mega-trends driving increased demand for animal protein, which in turn could lead to negative environmental effects. Cultivated meat, for example, uses cell culture technology to grow cells in bioreactors producing differentiated cells (such as muscle and fat cells) that can be formed into consumer food products. These technologies have the promise of producing animal p

Companies: Agronomics Limited
  • 29 Nov 21
City of London Investment Group (CLIG LN) - Forecast update

We update our forecasts to take account of (1) Group 2020/2021 Annual Report & Accounts released in September (2) 1Q IMS released in October (3) End October 2021 FUM update in early November. Key points include:  Group Funds Under Management “FuM” remain circa US$11 bn; in October there was a small uptick which may indicate small net inflows.  Strong investment performance across CLIG’s investment strategies (Exhibit 3 shows performance over 5 years relative to peers and benchmarks). 

Companies: City of London Investment Group PLC
  • 01 Dec 21
Savannah Resources (SAV) - Divestment of Mutamba Mineral Sands. Savannah now a pure lithium developer

Savannah today announces that it is amicably terminating its JV arrangement with Rio Tinto over the Mutamba Minerals Sands project in Mozambique. Savannah has been paid $9.5m (which translates into 0.4p/sh) in cash to relinquish the 20% it has earned in the project and will cease all activity in country. All staff will transfer to Rio Tinto.

Companies: Savannah Resources Plc
  • 26 Nov 21
SHORE CAPITAL - SCS Group+ (SCS) House Stock, 249p

After a stellar period of trading through the various stages of Covid 19 restrictions, and easings, ScS has reported a step-back in trading momentum in recent weeks. We await to see if the slower trading is temporary, reflective of a change in Christmas shopping patterns, or of a more permanent basis. We leave forecasts unchanged, looking for CPTP of £13.7m and EPS of 26.5p (both IFRS 16 compliant), as such the stock trades on an undemanding EV/EBITDA multiple of 4x for FY22 and 3.4x for FY

Companies: ScS Group plc
  • 18 Nov 21
Cenkos: Fulcrum Utility Services Ltd -- All on track and in-line with FY22E forecasts

Fulcrum has delivered a reassuring trading update, confirming it continues to trade in-line with FY22E forecasts, as evidenced by disclosed headline interim results. This comes despite recent turbulence in the UK's energy marketplace, which has not impacted Fulcrum's progress, including its recently established smart metering business. Given a 22% decline in the shares this month, opportunistic buyers should see value as forecasts remain unchanged and the stock now trades at book value and a his

Companies: Fulcrum Utility Services Ltd
  • 01 Dec 21
Cenkos: Venture Life Group Plc -- Trading and board update

Venture Life Group has provided a trading update and details of changes to the company's board. While the recent acquisitions are integrating as planned, COVID-related challenges have persisted including pricing pressure, freight charges and Chinese sales. The company now expects FY21E revenues to be not less than £32m and we have moved our forecasts in-line with this guidance. Venture Life has also announced Dr Drummond and Mr Waters, Chair and CFO, respectively, will retire from the board and

Companies: Venture Life Group Plc
  • 03 Dec 21
Cenkos: Duke Royalty Ltd -- Accelerating deployments – record results

Duke's H1/22A results give evidence that FY22E will be a record year, with a strong rebound from Covid-19 disruptions, with impressive YoY growth across all metrics. Having already completed all forecast deployments for FY22E, our forecasts are well underpinned and upgraded by +9% today. Comments of Duke having its healthiest ever pipeline with near-term deals likely, suggests further upgrades could be possible this year. If seen, any improvement in FCF p/s is likely to drive DPS uplifts, in add

Companies: Duke Royalty Limited
  • 02 Dec 21
LIBERUM: Oakley Capital Investments* - 70% NAV TR by 2023 on conservative estimates


Companies: Oakley Capital Investments
  • 29 Nov 21
Hybridan Small Cap Feast 29/11/21

Joiners No joiners today Leavers No leavers today What’s cooking in the IPO kitchen? Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of

Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI

  • 04 Dec 21
Q3 results disappointed, but the stock remains attractive in the long run

CD Projekt’s Q3 21 results came in between 17% to 63% below consensus estimates on all levels. While the next-gen console versions of „Cyberpunk 2077“ and „The Witcher 3“ were moved to Q1 22 and Q2 22 respectively and the price of Cyberpunk 2077 has been lowered significantly during „Black Friday“ promotions, we maintain our view that the worst is behind CDR.

Companies: CD Projekt S.A.
  • 03 Dec 21
Hybridan Small Cap Feast 03/12/2021

i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM. Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide work

Companies: TGN AFC COIN COIN HL/ OMI

  • 03 Dec 21
Tirupati Graphite talks through half year results, highlights high margin flake graphite operations
tirupati-graphite-talks-through-half-year-results-highlights-high-margin-flake-graphite-operations
  • 03 Dec 21
Jubilee Metals Group says 'very strong platform being set for the future of company'
jubilee-metals-group-says-very-strong-platform-being-set-for-the-future-of-company-
  • 03 Dec 21
Clipper Logistics on snapping up Netherlands based consumer electronic repairs specialist for up to €17.5m
clipper-logistics-on-snapping-up-netherlands-based-consumer-electronic-repairs-specialist-for-up-to-17-5m
  • 03 Dec 21
TR European Growth Trust - Making changes but keeping successful approach

TR European Growth Trust (TRG) is looking to attract a broader investor audience through a range of changes announced after a recent strategic review. The board hopes the change of name (due in January 2022) to The European Smaller Companies Trust will make TRG’s investment focus more explicit, while an eight-for-one share split (due on 13 December) should boost liquidity and help attract smaller regular savers on retail platforms. A reduction in the base management fee (already in place) will b

Companies: TR European Growth Trust PLC
  • 03 Dec 21
Cloudbreak Discovery on deal with Alianza Minerals to acquire Stateline Property in US
cloudbreak-discovery-on-deal-with-alianza-minerals-to-acquire-stateline-property-in-us
  • 03 Dec 21
Chariot - Share placing and subscription

Chariot is raising up to US$11.5m to allow it to lock in low rig rates for additional appraisal drilling on its Anchois gas discovery, offshore Morocco, and to progress its Transitional Power ambitions across Africa. The Anchois-2 appraisal well is expected to kick off in mid-December, providing investors with exposure to low-risk/high-reward drilling, which if successful will pave the way for partnering and development funding to be secured and the project to be launched.

Companies: Chariot Limited
  • 03 Dec 21
Kopy Goldfields - Q3 production up 16% y-o-y, full year on track

Kopy Goldfields reported a strong set of Q3 figures with production up 16% year-on-year to 21.0koz and EBITDA up 14% year-on-year to US$15.4m. The company looks on track to meet full year (unchanged) production guidance of 56–59koz (our forecast remains at the lower end of that range), and growth projects, which aim to lift production to more than 100koz by 2025, are progressing well.

Companies: KOPY GOLDFIELDS (KOPY:STO)Kopy Goldfields AB (KOPY:OME)
  • 03 Dec 21
IR Society - Best Practice Awards 2021
ir-society-best-practice-awards-2021-03-12-2021
  • 03 Dec 21
FY21 Capital Markets Day: mid-term targets

The mid-term targets of the group look rather ambitious at first sight. The group’s statements were rather general, as is often the case in CMDs. Another specific CMD will be held on 13 January on the UCE segment. We will not change our numbers at this stage.

Companies: thyssenkrupp AG
  • 03 Dec 21
Ixico - Ixico and GAP interview
ixico-ixico-and-gap-interview-03-12-2021
  • 03 Dec 21
Quantum Blockchain Technologies 'approaching goal of mining Bitcoin faster and cheaper than anyone'
quantum-blockchain-technologies-approaching-goal-of-mining-bitcoin-faster-and-cheaper-than-anyone-
  • 03 Dec 21
Digitalbox 'ready to move' as firm eye up more acquisitions as market expectations rise
digitalbox-ready-to-move-as-firm-eye-up-more-acquisitions-as-market-expectations-rise
  • 03 Dec 21
Doctor Care Anywhere executive interview – Digital healthcare: Building a healthy ecosystem
doctor-care-anywhere-executive-interview-digital-healthcare-building-a-healthy-ecosystem-03-12-2021
  • 22 Sep 21
FTSE upbeat ahead of Fed interest rate decision despite gas price hikes dominating UK headlines
ftse-upbeat-ahead-of-fed-interest-rate-decision-despite-gas-price-hikes-dominating-uk-headlines
  • 21 Jul 20
Morning Report: Vaccines and EU package lift FTSE 100
morning-report-vaccines-and-eu-package-lift-ftse-100
  • 10 Jun 21
Agronomics (LON:ANIC) Presenting at the Cenkos Growth & Innovation Forum - Tuesday 8th June 2021
agronomics-lon-anic-presenting-at-the-cenkos-growth-innovation-forum-tuesday-8th-june-2021
  • 24 May 21
Agronomics set to 'completely disrupt the agricultural sector'
agronomics-set-to-completely-disrupt-the-agricultural-sector-
  • 26 Aug 21
FTSE in the red off back of disappointing Asian session while NHS are latest to endure supply issues
ftse-in-the-red-off-back-of-disappointing-asian-session-while-nhs-are-latest-to-endure-supply-issues
  • 06 Oct 21
FTSE 100 staggered badly in early deals on rising inflation, shortages and a general mood of pessimism
ftse-100-staggered-badly-in-early-deals-on-rising-inflation-shortages-and-a-general-mood-of-pessimism
  • 19 Oct 21
Thor Mining upbeat as maiden drill program at Ragged Range gets underway
thor-mining-upbeat-as-maiden-drill-program-at-ragged-range-gets-underway
  • 21 Oct 21
Open Orphan's new Independent Non-Executive Director Yamin ‘Mo’ Khan presents his experience
open-orphan-s-new-independent-non-executive-director-yamin-mo-khan-presents-his-experience
  • 23 Nov 20
Thor Mining 'very excited' about acquiring interest in Alford East
thor-mining-very-excited-about-acquiring-interest-in-alford-east
  • 18 Nov 21
FTSE 100 makes a low-key start but Royal Mail delivers a surprise
ftse-100-makes-a-low-key-start-but-royal-mail-delivers-a-surprise
  • 11 Oct 21
Jim Mellon, co-founder of Agronomics - ETV Interview
jim-mellon-co-founder-of-agronomics-etv-interview-11-10-2021
  • 01 Apr 20
OptiBiotix Health secures significant exclusive licence agreement for OptiBiome
optibiotix-health-secures-significant-exclusive-licence-agreement-for-optibiome
  • 11 Jun 21
Sirius Real Estate grows dividend by over 10%, revealing 'good year' in terms of output and results
sirius-real-estate-grows-dividend-by-over-10-revealing-good-year-in-terms-of-output-and-results
  • 06 Jul 21
FTSE sinks lower as traders await the US markets' opening with little major domestic news to chew on
ftse-sinks-lower-as-traders-await-the-us-markets-opening-with-little-major-domestic-news-to-chew-on
  • 16 Sep 19
Open Orphan - Introduction to Maurice Treacy, Company Director
open-orphan-introduction-to-maurice-treacy-company-director-16-09-2019

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