LSE AIM - Market Screener

The market capitalization of AIM stocks reached £103bn as of 13th January 2023 compared to the 15th of December 2022. Among the top YTD winners, there were Genincode Plc (+100% YTD on approval of California State licensing approval and CLIA certification of its Irvine laboratory in California, enabling the provision of its products for the risk assessment of CVD to patients across 49 states in the US), Quantum Blockchain Technologies (86.7% on successful legal claim resolution), musicMagpie (66.

Hybridan Small Cap Feast 09/01/2023

Dish of the day Joiners: Hydrogen Utopia International (HUI.L) (AQSE: HUI) has dual listed on the Standard Segment of the Main Market. The Company's Ordinary Shares, which were already trading on the Access Segment of the Aquis Growth Market, has also moved to trading on the AQSE Main Market today. (09/01/23) While we were away: Streaks Gaming plc (STK.L) has joined the Standard Segment of the Main Market. STK develops casual games and a conversational gaming platform with a focus on partnering

Hybridan Small Cap Feast 09/03/2022

December 2022 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Sale of Gold Royalties & Reduced Cost of Capital

Trident Royalties Plc (AIM: TRR) has, this morning, announced that it has reached an agreement with Franco-Nevada Corporation (TSX: FNV, mkt cap US$27.3bn) for the sale of several pre-production gold royalties for up to US$15.8 million in cash, delivering a 2.4x money-on-money return on their investments circa two years ago. Trident has also announced that it has restructured its existing debt facility with Macquarie, lowering the cost of capital.

LIBERUM: Trident Royalties - Royalty sales and debt rejig

Hybridan Small Cap Feast 01/11/22

Dish of the day Joiners: Burning Rock Biotech Limited ADS has joined the Main Market (Standard). Leavers: China Petroleum & Chemical Corporation ADS has left the Main Market (Standard). What’s cooking in the IPO kitchen?** Ithaca Energy, a UK independent exploration and production company focused on the UK North Sea, intends to join the Premium Segment of the Main Market. Ithaca Energy is one of the largest independent oil and gas companies in the UKCS, ranking 2nd by resources and 3rd by produc

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: BP., RTO, DGE, OCDO, LMP, 1SN, TRR, & DXRX.

Q3 Activities Update

Trident Royalties Plc (AIM: TRR) has, this morning, provided an update on its activities undertaken during the quarter ended 30 September 2022. Apart from several positive asset updates that had already been announced it has been another quarter where revenues have increased. Adjusted for one-off events QoQ revenues increased 20% to US$2.4m (6x YoY). The contributory components of this were varied with Koolyanobbing comfortably ahead of our forecasts whilst the gold offtake portfolio missed due

Sonora Update

In January 2022 Trident Royalties Plc (AIM: TRR) secured an effective 1.5% Gross Revenue Royalty over the Sonora Lithium Project in Mexico for what amounted to a US$0.25m option payment, contemplating a total acquisition consideration of US$26m. Today Trident has announced that the assets operator, Ganfeng, has advised construction has commenced, and highlighted an upscaled production profile.

Hybridan Small Cap Feast 21/10/22

Joiners: Sondrel (SND.L) has joined AIM. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Ithaca Energy, a UK independent exploration and production company focused on the UK North Sea, intends to join the Premium Segment of the Main Market. Ithaca Energy is one of the largest independent oil and gas companies in the UKCS, ranking 2nd by resources and 3rd by production. During the six months ended 30 June 2022, Ithaca Energy's average daily production (oil and gas) on a net workin

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements: GSK, AAL, NG/, SMDS, LXI, QLT, SRE, LINV, HEIQ, TRR, & Sustainable Farmland Trust.

Interims Reflect Strong Momentum

Trident Royalties Plc (AIM: TRR), has released its interim financial statement this morning. These come after the release of a comprehensive Q2 update.

Lincoln Gold Mine Update

Trident Royalties Plc (AIM: TRR) has, this morning, provided an update on operations at the Lincoln Gold Mine, located in California, USA, over which it holds a net smelter royalty. As reported on 7 March 2022 first gold was poured at Lincoln in early February following the completion of refurbishment and commissioning works. Mine operator, Seduli Stutter Operations Corp. now intends to suspend Stage 1 production to focus on resource expansion and the feasibility work to support the Stage 2 expa

Q2 2022 Activities Update

Trident Royalties Plc (AIM: TRR) has, this morning, provided an update on its activities undertaken during the quarter ended 30 June 2022. Most of the elements of the update had already been announced in another busy quarter for the company as management finessed existing contracts. Momentum remains powerful with a 155% QoQ (15x YoY) increase in net revenue to $5.7m. The contributory components of this were varied with Koolyanobbing comfortably ahead of our forecasts whilst the gold offtake port

Hybridan Small Cap Feast 22-07-2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group export

Stable 4Q22

Top Picks for 2023 - 2022 review and outlook for 2023

On 10 January last year, we set out our ten top stock picks for 2022, in what turned out to be a very poor twelve months for global equities, due to war, accelerating inflation, political instability and recession fears. Between 7 January 2022 and 31 December 2022, the AIM All-Share Index declined 30.0%, whilst the average performance of our ten top picks was -24.7%, a modest relative outperformance. In this note we discuss the performance of our 2022 top picks, equities trends in 2022, and our

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

Sustained execution drives value opportunity

Urban Logistics REIT (ULR) has deployed a further £48m selectively into attractively priced assets (~6% NIY) with strong covenants and rent reversion opportunities. Further asset management efforts enhanced passing rents and WAULTs. Development activity has also bolstered the rental base. MSCI has made a material upward rerating (A from CCC) on enhanced disclosure. We make no changes to forecasts. We continue to see attractive value here with the shares trading on a 30% discount to EPRA NAV with

LIBERUM: Ramsdens Holdings* - Another upgrade

FY22 TU – Strong Upgrades on Better Performance

Argentex has issued a trading update for the 9M22 period this morning, with revenue and earnings performance ahead of expectations. FY22 revenues are up 54% yoy to £50.4m (+7.5% vs. SCM estimates) and operating margins are ahead of management expectations. This was driven by growth in the number of corporate clients as well as good progress across its growth strategy, with robust trading across all products and geographies. Another strong update from Argentex, as the Group continues to deliver o

Equals Group (EQLS LN) - Pre-close prompts upgrade

Equals Group confirms its 2022 results are “ahead of market expectations”:

AuM grows in Q3 on performance, reduced outflows

Liontrust posted +3% AuM growth in Q3. Although net outflows persisted, redemption trends improved (£0.6bn vs £1.6bn Q2). There was a considerable boost from performance. Cashflow Solution funds posted good inflows and Economic Advantage funds saw neutral flows. Although the £32.6bn AuM was a little below our £33.7bn estimate, this number was achieved only thirteen days later on positive performance in the first weeks of 2023. We take a cautious view leaving FY23e all but unchanged (reducing out

Cenkos; Marlowe Plc -- Building the software offering

Marlowe hosted a well-attended CMD last week in which it provided a deep dive into its burgeoning software business, which from a standing start in 2018, has grown to represent c25% of group Adj EBITDA today, driven by a combination of targeted acquisitions and strong organic growth (mid-high teens in FY22A). Multiple macro drivers underpin growth in the global GRC market, which is expanding at a c8% CAGR. With the share price having nearly halved over the past 12-months, Marlowe now trades mate

FLASH: Strong realisation proving the model

Hybridan Small Cap Feast - 17 Jan 23

17 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Exit of Intechnica signals quality & further progress

MERC has announced the sale of Intechnica Holdings for a total enterprise value of £14.5m (25.5% holding from MERC), driving cash proceeds of £3.7m and equating to a 27% IRR and 1.7x multiple on its current holding value. Additionally, MERCs third-party funds collectively held a further 27.9%, for which the exit generated a 32% blended IRR (2.6x MOIC). The Groups exit of Intechnica marks another successful exit from its balance sheet portfolio and underpins once again the high quality inherent t

Hybridan Small Cap Feast - 23 Jan 23

23 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

LIBERUM: NewRiver* - Trading update shows continued resilience of business model

Hybridan Small Cap Feast - 19 Jan 23

19 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object