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Small Cap Wrap – Anglo Asian Mining; Ariana Resources; Thor Mining and more…

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Small Cap Feast – 19 Jan 2021

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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 £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.

 

Banquet Buffet

Watkin Jones 201.5p £516m (AIM:WJG)

The developer and manager of residential for rent with a focus on the build to rent (BtR) and purpose built student accommodation (PBSA) sectors announces full year results for the year ended 30 September 2020. Highlights include:  Solid financial performance, showing the resilience of the business during a challenging period for the UK economy; revenue down 5.5% for the year, primarily as a result of forward sales of developments being deferred due to COVID-19 uncertainty; robust gross margin for the year of 21.4% (FY19: 21.4%); impact of COVID-19 disruption on operational delivery minimised and additional construction cost substantially mitigated, with FY20 planned deliveries all completed; all Government financial assistance received to support furloughed staff, totalling £0.8m, repaid at the start of FY21; full-year final dividend of 7.35 pence per share proposed, in line with policy of 2.0x cover by adjusted earnings, reflecting strength of financial performance and cash position.

 

Kape Technologies 208.5p  £439m (LON:KAPE)

The digital security and privacy software business provided a trading update for the year ended 31 December 2020. The Company traded strongly throughout the year, substantially growing its customer footprint and building its profile across the consumer privacy and security markets. Revenue for the full year is expected to be c.$122.2m (2019: $66.1m), up 85% and at the upper end of management’s forecasted range, with recurring revenue representing c. 89% of total Group revenue. Adjusted EBITDA is expected to be ahead of management’s expectations at approximately $39.0m (2019: $14.6m), up 168%. In addition, Adjusted EBITDA margin is expected to increase significantly to 31.9% (2019: 22.0%).

 

Anglo Asian Mining 129p  £147.6m (AIM:AAZ)

The AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce a new copper-gold discovery, “Zafer”, within the central region of its Gedabek Contract Area in western Azerbaijan. This discovery resulted from a regional exploration field mapping programme following the identification of structural trends by the ZTEM geophysics programme.  A short report on Zafer can be found at the following link  http://www.rns-pdf.londonstockexchange.com/rns/0873M_1-2021-1-18.pdf and on the Company’s website (www.angloasianmining.com).

 

Ariana Resources 5.05p  £54.3m (AIM:AAU)

The  AIM-listed exploration and development company operating in Europe announced the receipt of formal approval from the Competition Authority in Turkey for the completion of its joint venture agreements with Özaltin Holding A.S. and Proccea Construction Co. as announced on 7 December 2020 and ratified by shareholders on 30 December 2020. Approval received from the Competition Authority, representing the final regulatory condition precedent for the conclusion of the expanded Joint Venture. Expanded Joint Venture with Özaltin and Proccea involves the partial disposal of the Company’s interests in Turkey in exchange for up to US$37.75m in cash before costs and taxation. Ariana and Proccea to retain a 23.5% interest each in the expanded Joint Venture. 

Thor Mining 1p  £15m (AIM:THR)

The Company announces an institutional placing to allow acceleration of its  gold, copper, and uranium project interests. The Company has raised gross proceeds of £750,000 via the placing at a price of 0.85 pence per Ordinary Share. A London based specialist resources investor to invest £600,000. Artemis Resources Limited (ASX:ARV), a company with major gold exploration and development projects in Western Australia’s Pilbara, of which Thor director Mark Potter is Non Executive Chairman, to also invest £150,000 in the Placing, following up on their initial investment in 2020. Funds raised to be utilised for exploration activities at the Ragged Range, gold & nickel project in the Pilbara Western Australia, copper evaluation at Alford East in South Australia, initial drilling of the uranium and vanadium projects in the USA, and general working capital.

Power Metal  3.05p  £30.9m (LON:POW)

The AIM listed metals exploration and development company announced the Company has secured an exclusive 60-day option in respect of a potential new acquisition of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia. The Paterson Province is considered highly prospective for gold-copper and base metal mineral systems and is currently of particular focus for resource companies with a significant level of exploration activity underway across the region.  This level of interest follows recent high-profile copper and gold discoveries by Rio Tinto at their Winu property and by Greatland Gold plc (LON:GGP) with the Havieron discovery2. Notably, several major groups in search of Tier 1 deposits have entered into joint-venture / farm-in deals with junior explorers to expedite exploratory work. 

Totally 26.5p  £48.3m (AIM:TLY)

The provider of a range of healthcare services across the UK and Ireland, is pleased to announce it has been awarded a number of contract extensions and continued pilot funding worth a total of c. £7.2m.  The extensions and continued funding to pilot COVID-19 specific clinical services include 111 Clinical Assessment Services, Urgent Treatment Centre services and GP Out of Hours services across England and have been awarded to Totally’s wholly-owned subsidiaries Vocare Limited, and Greenbrook Healthcare Limited, which together form Totally’s Urgent Care division.

Trufin 65p  £52.5m (LON:TRU)

The Company announces that revenues for the 12 months ended 31 December 2020 are expected to be significantly ahead of market expectations at approximately £14.6m (FY19: £7.3m), representing year-on-year growth in excess of 100%. This has predominantly been driven by strong performance from the console division of Playstack Ltd which, despite the further national lockdowns, has been supported by robust performance across the rest of the Group. Further to the Company’s interim results statement on 25 September 2020 and given the strong performances within the Group, TruFin has formally engaged advisers to explore options for Oxygen and Vertus. This may result in the sale of Oxygen and / or Vertus and further return of capital to shareholders, should the board believe it to be in the best interests of shareholders. However, there is no certainty that such sales will occur.

Pantheon Resources 39.25p £227m (AIM:PANR)

The AIM-quoted oil and gas exploration company with working interests of 89.2% – 100% in certain projects located adjacent to transportation and pipeline infrastructure on the Alaska North Slope, has reached agreement with Otto Energy Alaska, LLC, a 100% subsidiary of Otto Energy Ltd, to acquire its 100% ownership of Borealis Alaska LLC. Borealis Alaska LLC owns a 10.8% working interest in each of the 16 leases in the 44,463 acre Talitha Unit. Upon completion of the acquisition, Pantheon will own a 100% working interest in the Talitha Unit. By way of an earlier transaction, Otto will retain a 0.5% overriding royalty interest in any future production from the Talitha Unit.  

Amino Technologies 132.5p £101m (AIM:AMO)

The software-led global media technology company that delivers modern TV experiences, announces that Steve Oetegenn has been appointed as a Non-Executive Director of the Group, effective from today. Steve Oetegenn is an industry leader in the online video, pay TV and digital security sectors, with over 30 years’ experience, who brings deep expertise of the interplay between software and media. Across his career, Steve has worked with global pay TV providers, government agencies, global banks, Fortune 500 companies and Hollywood studios.

 

Head Chef

Derren Nathan

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