SMALL CAP MOVEMENTS: Chamberlin gets up; Fall of InfraStrata
SMALL CAP MOVEMENTS: Chamberlin’s metal basher rises as he sounds the changes; InfraStrata tumbles as it searches for a cash injection
The leadership changes at Metal Basher Chamberlin appear to be tracking the market well.
Shares rose 42% this week after the company promoted its financial controller, Alan Tomlinson, to chief financial officer, replacing Neil Davies, who will step down at the end of May.
Last month, it was reported that Kevin Price, COO of the group’s foundry and milling plant, will replace Kevin Nolan as general manager.
Leadership Changes at Metal Basher Chamberlin Helped To Increase Shares By 42% This Week
It’s all part of a corporate restructuring following the loss of a big contract at the end of last year.
Chamberlin said this week that he “continues to cut costs and streamline the organization based on revised revenue levels.”
Shares of Mkango Resources climbed 46 percent to 30 pence after it said it was able to produce significantly higher recoveries and concentrate grades from the 51 percent-owned Songwe Hill rare earth project in Malawi than expected.
The revised estimates came after analyzing the results of a pilot flotation plant program.
The program demonstrated that the flotation process is robust and simple to scale and the results supported a significant increase in flotation recoveries and concentrate grade for the current feasibility study compared to a study. pre-feasibility plan for Songwe, the company said.
Sector peer Kodal Minerals rose 47% to 0.18p after receiving confirmation that the feasibility study and mining development plan have been ratified and approved by the National Directorate of Geology and Mines committee (DNGM), subject to some minor corrections that bring the mining permit application in line with the new Malian mining code of 2019.
The company expects to receive a formal notification from the DNGM requesting payment of the mining royalty before the formal production of the “ exploitation decree ” or mining permit, for the approval of the Prime Minister.
Shareholders of Tekcapital, the company that backs university spin-outs, celebrated like in 2017 when one of its portfolio companies, Belluscura, relaunched its intention to float on AIM.
Belluscura’s first crack in a stock market listing dates back to November 2017, but that idea quickly died when market conditions and various issues with the requirements of the corporate investment program / venture capital fund took hold. resulted in the rejection of the initial public offer.
He’s hoping for better luck (or due diligence) this time around.
“ Our debut in the AIM market will see us well positioned for business growth and well funded to support the launch of our FDA approved X-PLO₂R portable oxygen concentrator, as well as advancing the other products in our portfolio to at the commercial launch, ” said Robert Rauker, CEO of Belluscura.
Shares of Tekcapital climbed about a third on the week.
It has been a difficult week for InfraStrata, strategic infrastructure projects and lifecycle management of physical assets, which saw its shares plunge 24% to 30.25 pence after issuing shares at 30 pence per pop for raise at least £ 9million.
“The company is poised to undergo a transformational change following the award of the Saipem contract,” said John Wood, president of InfraStrata, explaining why the company is tapping the market.
“We believe that this contract is the first among many that will pass through our sites in the months and years to come. The key to winning and delivering these big deals is the ability to demonstrate a strong balance sheet and liquidity within the company’s operations. This placement will achieve both of these goals, ”said Wood.
Another company issuing fresh capital was the bar operator Nightcap, whose management is either very brave or reckless – or perhaps both. The owner of the London Cocktail Club agreed this week to acquire the Adventure Bar group, which he says will expand to nine more bars.
The company said the bars included in the purchase include seven established themed bars in popular London locations, a large open-air bar, a dining and entertainment venue in Birmingham, a bar site opening in Birmingham on May 17 and a 50% stake in a rooftop bar in central London.
After a year of closures and with the bar reopening schedule still a bit unresolved, now is probably a good time to make an acquisition if you have the cash; Nightcap did not, so it announced the issuance of up to 11.9 million new shares priced at 21 pence each, a 37% reduction from the closing share price the day before. the announcement of the £ 2.5million acquisition.
Shares ended the week at 26.5 pence, down 21% on the week.