Small Cap Wrap - Tertiary Minerals, Warpaint London, Begbies Traynor and more...

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.

Tertiary Minerals PLC -

18 Jan 2021


*A corporate client of Hybridan LLP


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What’s cooking in the IPO kitchen?

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.

Cornish Metals (TSX-V: CUSN) intends to list on AIM. The Company is proposing to raise £5 million by way of private placement of new Common Shares (the "Fundraising") 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, today announces intends to launch an initial public offering  of shares on the Official List (Premium) of the Main Market of the London Stock Exchange.  Due by Early Feb.


Banquet Buffet

Tertiary Minerals 0.3p  £2.5m (LON:TYM)

Tertiary Minerals has staked claims over a new copper exploration project at Brunton Pass in Nevada, USA.

· 24 mining claims staked with copper mineralisation spread over a 1km x 0.6km target area.

· Samples collected by United States Bureau of Mines (USBM) contain up to 6.91% copper including a chip sample grading 1.36% copper over 3.66m (12ft).

· Follow up samples taken by the Company confirm widespread copper mineralisation and include an 8ft channel sample grading 4.66% copper over 2.44m (8ft) .

· Copper mineralised samples also anomalous in uranium - large scintillometer anomaly reported.

·  Exploration underway, drone magnetic survey commissioned to commence within the next two weeks.


Warpaint London 92.5p  £71m (LON:W7L)

The specialist supplier of colour cosmetics and   owner of the W7 and Technic brands, updated on trading for the year ended 31 December 2020.  As a result of stronger than previously anticipated trading in the second half, the board now expects sales for the year ended 31 December 2020 to be not less than £40 million. This is ahead of the board's expectation of sales of at least £37 million as announced at the time of the release of the Company's interim results for the six months ended 30 June 2020 on 23 September 2020.


Begbies Traynor   105.25p  £134.6m (LON:BEG)

The business recovery, financial advisory and property services consultancy, today announces that it has completed the acquisition of CVR Global LLP

·   Maximum potential consideration of £20.8m on a cash free and debt free basis, financed from the group's existing bank facilities

· Represents the largest insolvency acquisition the group has undertaken to date

· Delivers a significant expansion of the group's scale in London and the South of England

· Enhances the group's existing specialisms in business recovery and financial advisory

· Adds first overseas offices, enhancing the offering provided by BTG Global Advisory

· In line with strategy to target value-accretive acquisitions and is expected to be immediately earnings enhancing


James Cropper 1150p  £110m (LON:CRPR)

Technical Fibre Products Ltd (TFP), a subsidiary of James Cropper plc (LSE:CRPR), announces today that it has entered into a definitive agreement to acquire PV3 Technologies Limited (PV3), a company which specialises in the development and manufacture of electrochemical materials used in the creation of green hydrogen. The acquisition is the latest step in TFP's growth, building on recent capacity expansion, and it will increase TFP's portfolio of products for hydrogen technologies to provide new opportunities for growth and market penetration.

PV3, established in 2011, is based in Launceston, Cornwall, and is a specialist in materials for electrochemical technologies. The company develops and manufactures a range of products which include coated electrodes, high performance catalyst powders for use in fuel cells and electrolysis, as well as water electrolyser materials which improve system efficiency and durability, reducing the cost of green hydrogen.  PV3 serves a small number of customers, mainly within the hydrogen sector and is well placed to grow within the hydrogen production market and has existing capacity in place to grow substantially. In addition to having complementary technologies to TFP, PV3 also shares the same emphasis on customer collaboration and product development. Following the acquisition, PV3 Technologies will be called TFP Hydrogen Products Ltd. 

The hydrogen economy has always been a strong focus for TFP, which is one of the leading suppliers globally of gas diffusion layer (GDL) substrates for fuel cells. Expanding TFP's hydrogen portfolio strengthens James Cropper's position in a market which is showing strong growth; it is anticipated that the use of hydrogen will increase 8 fold by 2050, from the 10EJ used currently to 78EJ in 2050, at which point it will fulfil 18% of the world's total final energy demand. 


Europa Metals  11.5p  £5.65m (LON:EUZ)

The European focused lead-zinc and silver developer announced that, further to the mobilisation of a diamond drill rig to site by Sondeos y Perforaciones Industriales de Bierzo SA ,  drilling has now commenced at the Company's wholly owned, Toral lead, zinc and silver project situated in the region of Castilla y León, north-west Spain.

Objectives of the drilling campaign. This latest drilling campaign forms part of the Group's Pre-Feasibility Study  workstreams initiated at the Toral Project. The first phase of the drill programme will target areas above the 600m level, concentrating on increasing Europa Metals' understanding of the initial four years of potential future production at Toral and thereby building on the results of the independent preliminary economic study announced in November 2020.


IronRidge Resources 14.25p  £59.15m (LON:IRR)

The African focussed minerals exploration company announced multiple high-grade drill intersections and the confirmation of new gold targets at the Zaranou Project in Côte d'Ivoire, West Africa. The license borders with Ghana and is along strike from significant operating gold ("Au") mines including Chirano (5Moz Au), Bibiani (5.5Moz Au) and Ahafo (17Moz Au).


Significant mineralisation potential confirmed in multiple targets along the 47km striking structure, including highlights at greater than 18 gram-metres (grade 'g/t' multiplied by interval length 'm') reported at a 0.1g/t Au cut-off and maximum 4m of internal dilution.

50,000m AC & RC drilling programme ongoing and estimated to be completed by the end of January 2021.


Caledonia Mining Corporation 1205p  £146m (LON:CMCL)

Production Update & Record Annual Production at Blanket Mine in Zimbabwe.

· Record total gold production during 2020 was 57,899 ounces, the top end of the Company's revised increased guidance.

· Approximately 15,012 ounces of gold was produced during the Quarter.

· Gold production for 2021 is expected to be between 61,000 - 67,000 ounces.


Faron Pharma 332.5p  £155.9m (LON:FARN)

The clinical stage biopharmaceutical company, today announces that the US Department of Defense  has selected the HIBISCUS Study to receive $6.1 million of funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Phase II/III HIBISCUS trial will assess Traumakine, Faron's IV IFN beta-1a, for the treatment of hospitalized COVID-19 patients in the US.


The $6.1 million funding support for HIBISCUS requires final contracting between Faron and DoD's designated military unit, the 59th Medical Wing of the US Air Force, and is under preparation. Faron has already established a working relationship with the 59th Medical Wing and US Army Institute of Surgical Research to explore the use of Traumakine for organ protection in combat wounds leading to multi-organ failure from ischemia and reperfusion.


Strix Group 232.75p  £479m (LON:KETL)

The specialist  in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components has signed a contract with Chia Tai Group, one of most specialised and well-known livestock company's operating in China, to adopt its HaloPure technology at one of its pig farms in the People's Republic of China  which can farm 2800 sow pigs.


The HaloPure technology has   a unique ability to not only treat raw incoming water, but also maintain an ongoing sanitised environment throughout the water line. This application is designed for industries reliant on long distance water lines with significant bacteria contamination such as livestock farming. 


Augean 207.5p  £218m (LON:AUG)

One of the UK's leading specialist waste management businesses, announces that trading has recovered strongly through the second half of the year and the Group expects, subject to audit, to report adjusted PBT for the year ended 31 December 2020 at least in line with the prior year despite the impact of Covid-19 and the resultant decline in the North Sea business.


Within the North Sea business, despite the second half recovery in revenue, further rationalisations have been made to the cost base to reflect anticipated forward trading conditions. The Group expects to impair the North Sea asset values by approximately £3m within the 2020 results, which will be shown as an exceptional item in the Group's accounts.


During 2020 and early 2021, the Group has contracted or has secured commitments to contract  incremental ash contracts for six Energy from Waste ("EfW") facilities, four of which are for operational facilities and two for proposed new facilities. The total annualised revenue from these incremental contracts is around £6m.


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