It would appear that Deepverge (DVRG) continues to embed itself in 21st century issues and technologies in a meaningful way. The latest from the AI-as-a-Service group is the expansion of the data and technology division, Rinocloud, in Cork, Ireland. The facility, which should be ready in Q3, includes laboratory and engineering production units that will establish a European centre of excellence for real-time detection of multiple dangerous pathogens, including SARS-CoV-2, in water and wastewater systems. Shares of Deepverge were up 1.75p at 32.5p.
Also on the front foot was Mast Energy Developments (MAST), with shares of the reserve power specialist jumping 1.25p to 14.5p. This was achieved in the wake of an upbeat operations update from the group which only listed on April 14. The company said that is pleased with the progress made since IPO of MED and is on schedule to deliver in accordance with the various targets set out in the Company Prospectus. Perhaps most notably, Mast was confident that all the projects identified in the company's working capital budget can be delivered within budget, something which investors apparently warmed to.
Mineral projects developer URU Metals (URU) was in focus among traders ahead of next week’s expected return to trading Blue Rhino Capital on the TSX. The shares were suspended off the back of a RTO, and with URU owning 80%, speculation is growing regarding what valuation Blue Rhino will return to market at. Given that URU has a current market cap of just £5m and Blue Rhino could return at multiples of this number, it will be interesting to see whether this is one of those situations where a potential re-rate occurs ahead of an event, or only after it.
Shares of next generation technology investor Pires (PIRI) were up 14% in the wake of last month’s final results where the highlight was a return of €804,000 achieved from the sale of Artomatix, representing over a 60% return on our initial investment of £1.1 million in SVV. However, it was current investments which were very much in focus as the prospects such as investors do the math regarding sports betting platform Low6, and perhaps most of all, a significant investment in star digital assets play Pluto where it has a 6.4% stake. Grey market indications on Pluto are currently for a significant uplift on the 6p issue price.
Shares of metal basher – a.k.a. specialist castings group Chamberlain (CMH) have now doubled in recent weeks, as the market warms to the company’s “old school” business model. In the wake of Brexit there has been positive focus on UK manufacturing to avoid the need for imports, This state of affairs has occurred as the UK government made no preparation to replace the EU supply chain, whether intentionally or otherwise. The latest from Chamberlain is that it is continuing to reduce costs and streamline the organisation in line with revised levels of revenue. It also anticipates that its new management structure will be in place by 1 June 2021.