April 16, 2024

Paull Ank Ford

Business Think different

Small Cap Wrap – Frontier IP Group; 88 Energy Ltd; Oncimmune Holdings and more….

Frontier IP Team (LON:FIPP) 65p £32.9m

 Frontier IP, a expert in commercialising mental assets, has elevated its fairness stake in portfolio organization Celerum Constrained from 10 for each cent to 33.8 for each cent.


Dish of the working day

Unconditional Dealings begin in Calisen () main mkt premium., elevating £300m. Mkt cap £1.32bn.

Off the menu

No Leavers Now



What is cooking in the IPO kitchen?


Intention to float by Gemfields Team. No Capital Elevate. At the moment listed on JSE. (JMB:GML) at circa £122m.  The Group’s important developing belongings, the Kagem emerald mine in Zambia  (thought to be the world’s solitary largest developing emerald mine) and the Montepuez ruby mine in Mozambique (one particular of the most major not long ago uncovered ruby deposits in the environment), are the two envisioned to have lengthy mine-lives with likely for growth. Also owns the  Faberge manufacturer. Owing Valentines Day 2020.

Principal Marketplace (Typical Listing)

The  has introduced its intention to listing on the Typical Marketplace.  The Blockchain based mostly enterprise, owns patents to a protocol which facilitates dispute resolution based mostly on clever contract disputes.  Transaction facts TBC. 

Principal Marketplace (Top quality)

DRI Healthcare—investment organization centered on investments in healthcare Royalty Assets  hunting to increase $350m. Owing eleven Mar.

Ninety A single –proposed demerger and public listing of  Investec’s  world-wide asset management enterprise on LSE and JSE. 30 Sep 2019 AUM £121bn. Sale of present shares. Envisioned absolutely free float of >60%. Owing sixteen march.

Cabot Square—Closed ended expense fund focussed on different belongings and asset supervisor. On the lookout to increase £200m.  Will goal expense possibilities that are envisioned to make an beautiful risk altered return and that can also make a positive ESG effects by focusing on some of the greatest troubles going through societies and economies.  Owing 14 Feb.

The World wide Sustainable Farmland Income Trust will devote in a diversified portfolio of operational farmland belongings found in major agricultural markets including the United States, Europe, New Zealand, Australia and particular countries within just Latin and South The united states. Raising up to $300m.   Owing 28 February.

Financial commitment firm  is trying to get to increase up to £200m at an concern selling price of 100p for each share by means of an IPO.   The organization aims to devote in a portfolio of quoted Japanese stocks with market place capitalisations of up to $1bn.   Initial working day of dealings envisioned early February.

NEX Exchange

Banquet Buffet

Holdings  () 31.5p £19.9m

 The top world-wide immunodiagnostics team, currently announces its 50 percent yr outcomes for the 6 months ended thirty November 2019.

Biodesix to launch EarlyCDT Lung in US by early March 2020

Services contract signed with a significant pharmaceutical team

In late stage talks on a number of likely support contracts.

Profits for the period was £0.31m. Income £7.5m

Whole administrative expenses have been £5.11m (H1 2018: £2.63m) of which c.£1.3m relates to reshaping the enterprise (£0.7m relate to the Biodesix and Protagen Diagnostics transactions and £0.6m relates to increased staff members fees) a further £0.7m relates to the IPF credit history facility and increased patent fees as the Protagen patent estate was integrated.

 The implementation of an ongoing cost reduction programme write-up the period has shipped once-a-year cost savings of c.£1.0m, with the sale of the US subsidiary’s laboratory to Biodesix envisioned to contribute further once-a-year cost savings of c.£2.2m.

 R&D fees have been £1.01m.

Fox Marble () 2.25p £5.9m

 The  company centered on marble quarrying and processing in Kosovo and the Balkans area announces that it has entered into an settlement with EBA Sh.p.K with the intention to deliver processed marble in the sort of tiles, stair treads and window lintels. 


EBA Sh.p.K is a nearby architect and building organization based mostly in Kosovo, and the items are destined for use in building jobs within just Kosovo. The materials selected for these objects is Flora, Alexandrian White and Illirico Bianco. 


The stone will be processed at Fox Marble’s Lipjan factory, from present blocks of Illirico Bianco, Flora and Alexandrian White. The settlement has no least buy price, but pricing is based mostly on a least volume of 2,000 square metres, which the Organization expects to source around the system of this economic yr.


Frontier IP Team () 65p £32.9m

 Frontier IP, a expert in commercialising mental assets, has elevated its fairness stake in portfolio organization Celerum Constrained from 10 for each cent to 33.8 for each cent. The enhance is in return for an expense of £25,000, converting a former bank loan of £21,818 into fairness, and for giving £50,000 value of further strategic, enterprise and palms-on computer software improvement products and services. 

Celerum, a spin out from Robert Gordon University (“RGU”), Aberdeen, is producing novel artificial intelligence to help companies make improvements to the operational performance of logistics and source chains. It also has the likely to  deal with a host of other sophisticated scientific, engineering and industrial troubles. Frontier IP is stepping up its guidance for the Organization in reaction to increased marketplace desire.


Scapa Team () 193.5p £300m

Update on latest buying and selling in advance of its economic yr-close on 31 March 2020.

Profits c.£306m, broadly in line with market place expectations. However, buying and selling profit is now envisioned to be roughly £28m, appreciably beneath consensus. Healthcare profits is approximated to be roughly £139m, somewhat in advance of market place expectations and increased than final yr inspite of the decline of the ConvaTec contract. Healthcare buying and selling profit is envisioned to be reduce than consensus, reflecting slower progress in cutting down fees than envisioned at the time of the interim outcomes. Industrial profits is envisioned to be roughly £168m, which is somewhat beneath market place expectations but has a materials effects on Team buying and selling profit, mainly the outcome of adverse macroeconomic ailments. Scapa is centered on demanding execution of the tactic as it continues to enhance performance and convert its pipeline of possibilities to make improvements to profits and margin functionality. Expects the macro atmosphere to keep on being tough in some of the industrial markets in which it operates.

() 601.5p £1.65bnm

AGM Assertion from the language, mental assets guidance products and services and localization suppliers. “The economic yr ended thirty September 2019 was an outstanding yr for RWS, with all three divisions delivering document outcomes, enabling the Team to retain its unparalleled document of sixteen yrs of unbroken development in revenues, profits and dividends because flotation in 2003. This accomplishment was recognized when RWS was named Organization of the Yr at the 2019 Goal Awards.”

Present-day buying and selling and outlook

“We have continued to construct on our momentum in the very first number of months of the 2020 economic yr, with a number of outstanding new contract wins, notably within just our IP Providers division, leaving us on system to produce total yr outcomes in line with the Board’s fundamental expectations, notwithstanding the the latest currency headwinds.”


 SolGold () 18.25p £351m

Update on exploration at its one hundred% owned Timbara Venture in Southern Ecuador. The task is held in SolGold’s one hundred% owned subsidiary Inexperienced Rock Sources S.A.

Ø The Timbara task is of Jurassic age similar to nearby the Fruta del Norte, Mirador and Santa Barbara deposits.

Mineralisation mapped around a 600m strike duration demonstrates powerful gold grades and continues to be open up in the two directions at Timbara 2. Mineralisation happens within just an 18m extensive northwest trending silicified zone, hosting polymetallic quartz veins. Rock saw channel sampling confirms the prospectivity of the Timbara 2 zone, with initial rock saw channel samples returning:

seven.7m @ six.sixty three g/t Au (northern stream outcrops) -2m @ five.sixteen g/ t Au (southern stream outcrops)

The mineralisation at the southern stream outcrop continues to be open up at the two finishes.

 Field groups are continuing with clearing to produce further outcrop exposures for further mapping and sampling.

() 10.5p £4.5m

Final results of two yrs of impartial baseline environmental info selection and monitoring at the Empire Mine, Idaho United states of america.  The outcomes of the monitoring will be utilised specifically for environmental permitting and the continued improvement of the Plan of Functions for all future mining exercise, including Pink Star and the Empire open up-pit copper oxide deposit.

No significant habitat for threatened or endangered plant or wildlife was identified within just the task spot.

Surface and groundwater experiments show no impacts from legacy mining operations. No major cultural or archaeological artefacts identified in the task spot

No Sage Grouse or Sage Grouse leks (breeding internet sites) have been identified at or around the task spot.

The total Plant and Wildlife studies, archaeological studies, and hydrological studies can be seen on the Company’s site at www.phoenixcopperlimit­ed.com/reports in the title of Konnex Sources Inc, the subsidiary nearby running organization of the Company 

7digital () .5p £11.3m

 The world-wide leader in B2B close-to-close electronic audio options, is happy to announce that its audio platform-as-a-support will electrical power jazzed, the world’s very first devoted audio-visual streaming support for jazz and jazz-motivated audio.

jazzed is a multi-tier jazz streaming membership support which has been formulated by ETA Productions Ltd, a expert in building new electronic media platforms for enjoyment markets. Released currently, it delivers a extremely curated audio, video and editorial experience for the jazz supporter, that includes around 5m tracks and special specific channels. Below the conditions of the initial twelve thirty day period contract, which contains set-up, month to month and usage-based mostly content costs, jazzed will use 7digital’s API and platform entry, playlist resources, reporting products and services and catalogue management. This will let jazzed end users to stream audio from 7digital’s considerable catalogue of jazz tracks. jazzed delivers an advertisement-funded freemium edition that includes 10 hand-curated audio channels and a selection of video content, and a £5.ninety nine month to month membership-based mostly tier with around 40 channels and unique video content.  


88 Electricity () 1.175p £83.5m

Update similar to operations for the future Charlie-1 appraisal perfectly, on the North Slope of Alaska.


·    Ice street now >80% comprehensive

Allow to Drill authorized for Charlie-1 appraisal perfectly

·    Spud on monitor for late February

  () three.85p £10.3m

 $1.9m putting at $10. Whilst this does characterize a 237% premium to the closing mid-market place selling price on eleven February 2020, it signifies a 1.1% premium to the final audited NAV for each share of $9.89 as at 31 Might 2019.

The proceeds of the Positioning Shares will be utilised to undertake investments further to the Company’s expense tactic. 


Head Chefs

Derren Nathan

0203 764 2344

[email protected]

Niall Pearson

0203 764 2343

[email protected]