Small Cap Wrap - Faron Pharma; Sareum Holdings; NQ Minerals and more...

What’s cooking in the IPO kitchen? NQ Minerals (AQSE:NQMI) the base and precious metals producer from its 100% owned flagship Hellyer Mine  and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, has submitted a draft prospectus to the UK Financial Conduct Authority  for approval.


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What’s cooking in the IPO kitchen?

NQ Minerals (AQSE:NQMI) the base and precious metals producer from its 100% owned flagship Hellyer Mine  and the 100% owner of the Beaconsfield Gold Mine, both in northern Tasmania, Australia, has submitted a draft prospectus to the UK Financial Conduct Authority  for approval. The Company is considering applying for admission of its ordinary shares to the Official List of the FCA by way of a Standard Listing and to trading on the Main Market of the London Stock Exchange . Details TBA

Foresight Group , the award-winning infrastructure and private equity investment manager  to IPO on the Main Market (Premium). The Offer will primarily comprise a sale of shares by existing shareholders (c.80% of the Offer) with a smaller offering of new shares (c.20% of the Offer) to be issued by the Company. Details TBA.

Baskerville Capital plc (to be renamed Oberon Investments Group Plc) is a boutique financial institution providing a personalised wealth management service for retail and professional clients, as well as a corporate broking arm for small and mid-cap companies. Oberon’s strategy is to progress through the organic growth of assets under administration in its wealth management division and by the acquisition of complementary businesses in the financial services sector and by creating a trusted brand for the provision of advisory and fundraising services for companies in the small and mid-cap sectors. Expected admission date 9 February 2021.

Cornish Metals (TSX-V: CUSN) intends to list on AIM. The Company is proposing to raise £5m by way of private placement of new Common Shares to advance the United Downs copper-tin project. The Company expects that Admission will become effective in February 2021.  The Company's Common Shares will continue to be listed and trade on the TSX-V in Canada.

VH Global Sustainable Energy Opportunities plc, a closed-ended investment Company focused on making sustainable energy infrastructure investments announced it intends to launch an IPO of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.  Due by Early Feb.


Breakfast Buffet

Global Petroleum 1.75p £6.8m (AIM:GBP)

Updated estimate of Prospective Resources for PEL0094 (Block 2011A), offshore Namibia, following interpretation of the 2D seismic data which the Company recently licensed. Global holds a working interest of 78 per cent in PEL0094, and is operator.  The additional Prospective Resources, which are in the east of PEL0094, consist of 7 new leads with a total unrisked gross Prospective Resources (Best Estimate) of 2,048 million barrels of oil. As previously reported in July 2020, the pre-existing prospects – Marula and Welwitschia Deep – contain a total of 881 million barrels, making a new total on the licence of 2,929 million barrels unrisked gross Prospective Resources (Best Estimate).

Regarding the Prospective Resources attributable to Global, the total unrisked net Prospective Resources (Best Estimate) now total 2,284 million barrels compared with the previous number of 687 million barrels net to Global for Marula and Welwitschia Deep alone.   This means that the total unrisked net Prospective Resources (Best Estimate) – both gross and net – are over three times as large, due to the new leads identified. On a risked basis, Prospective Resources have approximately doubled.


Faron Pharma 415p £195m (AIM:FARN)

Update on TRAUMAKINE development

–  U.S. Food and Drug Administration (FDA) approval of new HIBISCUS study protocol in patients with COVID-19 infection

–  Company seeking patent protection for the sequential use of IV interferon beta-1a and corticosteroids

–  Pipeline expansion into additional organ protection indications –  CMC scale-up in progress


Yü Group  160p £26m (AIM:YU.)

Yü Group PLC, the independent supplier of gas, electricity and water to the UK corporate sector, today provides an update on trading for the year ended 31 December 2020.

“I’m pleased to report an extremely strong trading performance, accelerating throughout H2 2020, that has resulted in the Group expecting to exceed FY 2020 revenue, cash and profit market expectations. Additionally, the Board’s expectations for full year ending 31 December 2021 are now ahead of previous levels.

 I’m encouraged by the strong finish to the year. Despite the inevitable challenge of the pandemic, we’ve successfully and seamlessly adjusted our business to manage the impact on our customers without detriment to our growth strategy and operational performance.

 The strong and accelerating sales momentum continued in H2 to record levels – with average monthly bookings outperforming expectations at £10.3m (£6.2m for H1 2020 and £4.2m for FY 2019).”


Eagle Eye 419p £108m (AIM:EYE)

Eagle Eye, a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing through coupons, loyalty, apps, subscriptions and gift services updated on the Group’s trading for the 6 months ended 31 December 2020. Revenue up 8% to £10.8m  Recurring revenue  74%.  Adjusted EBITDA up 62% to £2.1m ahead of Board’s expectations.   Despite the impact of COVID-19, profit for the financial year ending 30 June 2021 remains in line with the Board’s expectations .

COVID-19 may continue to cause new contract discussions to be extended, and is expected to continue to impact the Group’s F&B and Non-Grocery customer segment, causing the Board to remain cautious in its outlook for this segment. However, the careful management of the business, successful new wins in the first half of the year and growth of the existing customer base, mean profit for the financial year ending 30 June 2021 remains in line with the Board’s expectations. Never has digital engagement with consumers been of more relevance to the global retail sector. The Group’s new business pipeline continues to grow at record levels internationally, including multiple enterprise level opportunities, providing the Board with confidence in the ongoing success of the business.


Sareum Holdings* 2.075p £67.8m (AIM:SAR)

The specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, announces that its Chief Executive Officer, Dr Tim Mitchell, is participating today in a virtual interview at the Edison Open House: Global Healthcare 2021 event, taking place online between 26 and 28 January 2021.

Dr Mitchell’s session will take place between 14:30 and 15:00 GMT on Tuesday 26 January.

The following link can be used to register: https://www.lsegissuerservices.com/spark/edison-open-house-global-healthcare-2021


Zoo Digital 96.8p £72.2m (AIM:ZOO.L)

The  provider of cloud-based localisation and media services to the global entertainment industry, today provides an update on current trading and outlook for the financial year ending March 2021.

Since the half year, ZOO has continued to see the benefits of its cloud-based offering and ability to undertake projects remotely. Whilst new productions have been on hold due to the COVID-19 pandemic, the Group continues to see increased workflow from preparing back catalogue titles for digital distribution globally, although the volume of this work is not expected to continue at such high levels once new production returns to normal. As a result, revenues for the full year are now expected to be at least $38 million (FY20: $29.8 million), an acceleration of growth in the second half over the first half of 35%. Based on this strong performance, the result for the year is anticipated to be ahead of market expectations.


Eco (Atlantic) Oil & Gas 25.5p £47m (AIM:ECO)

The oil and gas exploration company with licences in proven oil province in Guyana and the highly prospective basins in Namibia has formed a new company (Eco Atlantic Renewables) with Nepcoe Capital Partners Ltd, a renewable energy developer and investment company, to source, acquire and develop an exclusive pipeline of potential high yield solar projects.  Eco (Atlantic) Oil & Gas Ltd. owns 70% of Eco Atlantic Renewables and the remaining 30% is owned by Nepcoe.

Investment into renewables, alongside its principal oil and gas exploration business, will see Eco Atlantic becoming a diversified, growth oriented energy company. Eco Atlantic Renewables has been established to capture opportunities in the shifting energy market and subsequent attractive economics driving global solar photovoltaic (PV) energy demand growth.

Eco Atlantic is providing a shareholder loan of up to US$6m for its 70% stake in Eco Atlantic Renewables.  It is anticipated that the Loan will be repaid in full upon a monetisation of the solar PV assets, from future third party investment into Eco Atlantic Renewables or from future project cash flows.  Eco will maintain its majority interest following repayment of the Loan.

Through the joint venture with Nepcoe, Eco Atlantic Renewables has secured exclusivity to a potential pipeline of more than 2 Gigawatts (2 GW) of prospective PV projects, mainly in Southern Europe’s high solar hours’ sunbelt. First acquisition of a fully licensed and permitted ready-to-build project for an aggregate consideration of c.€1.1m paid by Eco Atlantic Renewables using funds available from the loan completed on 25 January 2021.  The acquired 10.57 MW Kozani project in Greece has a secured feed in tariff.


ProPhotonix 5.75p £5.35m (LON:PPIX)

The designer and manufacturer of LED illumination systems and laser diode modules with operations in Ireland and the United Kingdom announced the addition of a new hyperspectral LED line light to its COBRA™ MultiSpec platform. With a spectral range from 400-1000nm and excellent spatial and spectral uniformity, this new option provides an excellent solution for hyperspectral applications.

Successful hyperspectral imaging requires careful wavelength selection to cover the required spectrum and homogenous light to ensure high quality imaging. ProPhotonix has developed this hyperspectral line light as an ideal light source for any hyperspectral line scan camera operating in the visible to near-infrared spectrum. The spectrum is well-matched to the highly compact and flexible Specim FX10, for example, or machine vision cameras utilizing the latest SONY IMX174 Sensor. For applications covering an extended spectrum, the COBRA MultiSpec can be developed in configurations of up to twelve wavelengths from 365nm -1700nm.


Abingdon Health 129p £123.45m (AIM:ABDX)

The international developer and manufacturer of high quality and effective rapid tests , today provides a trading update for the six months ended 31 December 2020.

 In line with Board expectations, revenues will be approximately £7.7m, (H1 2019/20: £1.5m) with second quarter revenue significantly ahead of the first quarter, highlighting the growth in activity in line with new product approvals and increased levels of manufacturing capacity. In December, the Company announced its IPO on the AIM market of the London Stock Exchange raising £22 million (before expenses). The cash position as of 31 December 2020 was £16.4m.


Crimson Tide 3.65p £16.7m (AIM:TIDE)

The provider of mpro5 has won a pilot project with  the World Federation of Haemophilia (WFH) for the initial stage of a significant global healthcare  project for the verification, data capture, and analysis of pharmaceutical products associated with the treatment of haemophilia.  The pilot is due to rollout in the first quarter of 2021.


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