Quoted Micro 18 March 2019

Peel Hunt forecasts a dip in Shepherd Neame (SHEP) pre-tax profit from £11.8m to £11.2m in the year to June 2019. The broker still expects the total dividend to be increased from 29.2p a share to 30p a share.

European Lithium (EUR) expects to commence drilling in the second quarter in order to convert the resource in zone one of the Wolfsburg lithium project into measured and indicated categories. The company is part of a syndicate applying for grant funding for building up battery production in Germany. Lithium hydroxide is expected to continue to rise in price until 2022 and then fall back. European Lithium is in talks with lithium battery plant operators in Europe about an offtake agreement. The company had £3.3m of cash and financial assets at the end of 2018, as well as a convertible note of £2.56m, with more available to draw down. There was a cash outflow of £2.6m in the six month period. European Lithium is also ASX-listed and is considering a listing in Vienna.

Sandal (SAND) has decided to leave the NEX Exchange growth market after four years. Management says that share trading is limited, and the company has not been able to raise the cash it wanted to. They believe it would be easier to raise funds as an unquoted company. The company already has the backing of enough shareholders to make a general meeting pointless. The last day of trading is 10 April.

Primorus Investments (PRIM) has already made a significant gain on its stake in Greatland Gold (GGP) after the miner announced a $65m farm-in agreement with Newcrest for the Havieron gold copper project in Western Australia. Newcrest, which will ear up to 70% of the project, also has first right of refusal over the rest of the Paterson project area. The Greatland stake cost 1.71p a share. Even after some profit-taking, the Greatland share price is 2p, which represents a gain of more than £100,000 on the Primorus investment. Primorus has invested £875,000 in WeShop Ltd and has a 3.5% stake worth more than £1m. WeShop has developed new branding for its platform, added to its product range and enhanced the management team. The number of WeShop retailers has trebled to more than 9,000. The technology provides access to more than 20,000 merchants around the world. Vela Technologies (VELA)has a 1.42% stake in WeShop, which cost £100,000 and is valued at £427,000. Two Shields Investments (TSI) invested at a later date and has a 1.2% stake valued at £350,000.

Barkby Group (BARK) made a small interim loss on revenues of £1.82m. The three gastropubs operated by the company were profitable before central overheads and exceptionals. There was £37,000 in the bank at the end of 2018 and a VAT refund is expected. This period is before the acquisition of Centurian Automotive, which was acquired for shares.

Gunsynd (GUN) has sold its stake in UK Oil and Gas (UKOG) at 1.405p a share. The 31.17 million shares raised £438,000. Gunsynd had net assets of £2.18m at the end of January 2019, including £543,000 in cash. The flotation of FastBase Inc has been delayed and Gunsynd is no longer advising the company. Human Brands International Inc, where Gunsynd has a £300,000 convertibles investment, is on course for a standard listing.

Coinsilium Group Ltd (COIN) has incorporated a subsidiary in Gibraltar and it is applying for a business licence.

Ganapati (GANP) says that its subsidiary GanaEight Coin Ltd, which is developing and operating a blockchain-based online casino platform, has launched a virtual token private pre-sale of its initial virtual financial asset offering.

Gavin Burnell has bought 5.83 million shares in Hot Rocks Investments (HRIP) and that takes his stake to 22.3%. His fellow director Charles Vaughan bought 750,000 shares, taking his shareholding to 1.67%. Non-executive chairman Brian Rowbotham bought the same number of shares, taking his stake to 3.09%. The shares were all acquired at 0.136p each.

Tectonic Gold (TTAU) has commenced gold mining under the joint venture agreement with VAST Mineral Sands in Australia, where it has a 50% economic interest. Tectonic has provided the initial funding. Tectonic is considering moving to the standard list.

First Sentinel (FSEN) has taken a 3.48% stake in standard listed coal bed methane company Curzon Energy (CZN). Brian Kinane has resigned as a director of Curzon.

 

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