Stock market darling is a term which normally when used can be something which tempts fate. However, in the case of Zephyr Energy (ZPHR) it may be said that the Rocky Mountain oil and gas company continued to play a blinder as far as communicating progress to the market. The latest is an update on recent progress on its non-operated assets in the Williston Basin, North Dakota and on its flagship project in the Paradox Basin, in Utah. At Williston the S-Bar wells have been placed into production, also ahead of forecast schedule, and the Feehan wells are expected to be placed into production within the next month. At Paradox we are in the run up to drilling of the State 16-2LN CC lateral appraisal well, set to spud in July, which will target the Company's first production from the project.
Long dated income provider Dukemount Capital (DKE) sealed the deal in terms of funding the Environmental Energy Project announced at the end of March. It is notable that the lender requires a significant uplift in Dukemount shares in order to convert its loan note, meaning that the arrangement represents an unusually tight alignment of the interests between the two parties. The funding provides Dukemount with a £6.5m facility, of which it expects a draw down of £3m will be lent to fund the HSKB Joint Venture over the next six months. The remaining £3.5m will be drawn down to fund future projects in the fast-growing UK flexible 11kv power sector, where HSKB can deliver a strong pipeline of deals. Perhaps of equal importance is that via the JV Dukemount can now be regarded as punching above its weight in the energy space, traditionally the domain of blue chip sized companies.
It would appear that we were looking at a case of no news being good news for Valereum Blockchain (VLRM), a company which is set to provide is the linking of conventional, mainstream currency products denominated in USD and GBP into the world of crypto currencies. Here the shares pushed through the previous 44p intraday high, with investors looking forward not only to its OTCQB listing, but also its first listed company NFT live on a crypto exchange in the coming weeks. Last week’s £10 a share price target from Chairman Richard Poulden has probably helped focused minds as well.
Shares of Hemogenyx (HEMO) have been on the front foot of late as the preclinical-stage biotechnology company are now trading in the wake of two decent pieces of newsflow. The first was the termination of the perhaps less than popular convertible loan note facility, and in a more constructive vein, U.S. approval and the Issuance of a CDX Antibody Patent. This patent covers a method of use of a bi-specific antibody (CDX), and a composition of matter of monoclonal antibodies. Hemogenyx said that the patent solidifying its position in the field of the development of therapies for the treatment of blood cancers and BM/HSC transplantation conditioning.
It may be that supporters are wondering whether the latest announcement from managed services and technology-based security solutions will be part of a new trend for Westminster Group (WSG). Following on from the previous session’s well received news, the company announced that it has been awarded a long-term managed service contract to exclusively provide port screening services at Monrovia Freeport in Liberia, West Africa. The contract, based on revenues generated from all import containers passing through the Port, is expected to generate around $1.1m in revenues in the first 12 months of operation.
One of the better rules of the stock market is to look for stocks that rise after fund raising events. In the case of specialist drug development company Sareum (SAR), the stock price has nearly doubled in the 24 hours after it announced it has raised £1,470,000 through a subscription for 30,000,000 new ordinary shares at a price of 4.9p per share. The company said net proceeds from the Subscription will be used to progress its SDC-1801 and SDC-1802 TYK2/JAK1 inhibitor drug development programmes.