One of the most painful and perhaps mysterious declines of the year for a small cap from the highs – and there have been many competitors in this particular segment of the market, has been Oriole Resources (ORR). The peak for the stock was 1.92p in February, versus an intraday low of 0.475p in July. While the market is always “right”, this does appear somewhat harsh, particularly in the wake of the latest news from the AIM-quoted exploration company focused on West Africa. The company reported full diamond drilling results for Faré and Madina Bafé, with best results of up to 70.00m grading 1.46 grammes per tonne gold and 10.00m grading 1.69 g/t Au respectively. Oriole said that results for 38 holes from the RC programme at Faré have also been received and it is currently undertaking its usual validation checks ahead of their release.
It has been an interesting ride for shareholders of renewable energy sector focused SPAC, Pineapple Power (PNPL). It came to market at the end of last year promising to deliver a strong investor relations campaign, this despite the way that SPACs technically cannot reveal too much about their targets. Nevertheless, the shares have been a charting breakout since the end of June at 6.5p and have started the week on a strong note, with investors presumably betting on some nuggets of information to emanate from the company’s AGM on August 25th. Clearly, for a SPAC the higher the share price, the more it can buy with its paper.
Although great noises are often being made regarding Aquis being the new AIM, or perhaps preferably the new Nasdaq, sometimes in life one has to take matters in one’s own hands and lead from the front. First up today is CBD specialist Love Hemp (LIFE). Here against a dull stock market the shares were up 6%, building on a charting breakout for the stock last week – breaking a line of resistance from March at 2.25p. The shares now stand at 2.6p. But it might be suggested that having offered the market multiple bullish events and metrics, it could be argued that investors have yet to price in recent news such as a 60% revenues rise, triple digit percentage boosts for sales and consumer accounts, as well as brand building Anthony Joshua and UFC deals. As recently as March Love Hemp shares were trading at 8.5p – and still remain in the run up to a well flagged main board listing.
Another stock trading in the run up to its AGM (August 17), on Aquis and this time up 8% was Semper Fortis (SEMP). At the end of July the company said that it had finalised the strategy for the business to become a multi-operational esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. It also acquired the services of its first team, Top Blokes which competes in the game Rocket League. The company added that COVID-19 accelerate the continued growth and popularity of esports and gaming as they provided entertainment and a format to allow young people to socialise.
GSTechnologies (GST) started the week as one of the stock market’s biggest risers, and has been one of the best performers year to date. Indeed, the 36% jump is of the magnitude that historically suggests either some traders are expecting significant, or the company will have to confirm or deny speculation ASAP. What can be said is that GST’s next-generation digital money solutions based on blockchain technology are clearly right on the zeitgeist in 2021. In March it said that its wholly owned subsidiary GS Fintech Ltd, in UK, intended to file an application with the FCA to be granted an Authorised Payment Institution licence. As GST said then, should an API licence be granted it will provide it with the rights to connect to established payment gateways and commence a remittance business in the UK – all backed by blockchain technology.
One of the biggest stock market winners of the recent past was and still is, Fevertree (FEVR). Great branding and even greater distribution, as well as being on the expensive side, all served to allow Fevertree to topple Schweppes’s seemingly impregnable position in the market. Of course, fans of New Zealand-based maker of premium mixers, East Imperial (EISB), will be hoping that it will do to Fevertree what Fevertree did to Sch… you know who. Earlier this month East Imperial said its range of mixers will be sold in Dan Murphy's, an alcoholic drinks supermarket chain based in Melbourne, Australia. EISB shares started the week up nearly 13%.
There was a late in the day announcement from Tiziana Life Sciences (TILS). The biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology said Dr. Kunwar Shailubhai, CEO & CSO will be attending the Q3 Virtual Investor Summit, a conference attended 80 companies and 800 investors including HNWs, family offices and institutional investors.