Tintra PLC shares soar as two strategic investors pay top dollar for stakes
Shares of tech games investor Tintra PLC (AIM:TNT) soared 338% to 230p this week after two deep-pocketed investors backed the company.
First, the US family office of Omar Mangalji, a member of the Canadian Mangalji family, agreed to buy 148,511 new shares at 504p per pop. If that seems massively overvalued for a stock that was trading around 53p last week, then at least the investor also has the option of tripling their stake through warrants priced at 50p each.
The second investor, an anonymous strategic investor based in the Gulf, subscribes for 297,022 shares at the same price, with the same two warrants for each common stock attachment as the first investor.
Tintra is working with London-based Time Machine Capital 2 Limited, a firm specializing in artificial intelligence investment and research, and its subsidiary, Finsenr, on building banking technology and infrastructure systems focused on frontier markets and emerging, which she says are underserved. by today’s environment.
It was another week of big moves in the resource sector, but that’s most weeks.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has confirmed a “significant” gas discovery at the Anchois-2 well off Morocco that far exceeded expectations.
The Anchois-2 well was drilled to a total depth of 2,512 meters and encountered significant gas accumulations with the appraisal target, Sand B, scoring approximately 50 meters of net pay on two stacked reservoirs – the highest was the reservoir seen in the original discovery well.
The news sent the shares up 61% to 11.975p.
The market approved the takeover of Azinam Group Ltd by Eco (Atlantic) Oil & Gas Ltd.
The deal gives Eco a significant offshore oil exploration asset base in Namibia and South Africa. Shares are up a third this week.
Bradda Head Lithium Ltd (AIM:BHL) said preliminary metallurgical tests on samples from its Burro Creek East lithium project indicated that mining and production costs could be significantly reduced.
This encouraged the market which pushed the share price 38% north.
Shares of Helium One Global Ltd (AIM: HE1, OTCQB: HLOGF) have risen 24% over the past week on zero news flow as internet speculators talk about what they see as an undervalued asset. assessed – the Rukwa helium project in Tanzania – and an opportunity to take action early ahead of a drilling program potentially scheduled for later in 2022.
Last year, Helium One shares rose from 7p to 21p in the month ahead of a drilling program the company launched to continue with greater technical knowledge this year.
Away from the resources sector, React Group PLC (LSE:REAT) jumped 39% to 2.15p on the back of a contract win.
The cleaning, sanitation and decontamination company has won a major new long-term contract with The ExtraCare Charitable Trust, a leading not-for-profit developer and operator of accommodation for the over 55s and an existing client of the company.
Investors eyed shares of Eco Animal Health Group, which were 30% heavier at 197.5p after hinting at “significant progress” in its investment in vaccine research and development.
“We look forward to sharing exciting information and providing further details on the potential business value that exists in our new product development pipeline to existing and potential investors, analysts and the media at the upcoming Capital Markets Day,” the company said.
By contrast, it was hard to look past Sensyne Health, which lost two-thirds of its value on Friday after warning it was taking longer to convert prospects into paying customers due to the COVID-19 pandemic. 19 which continues to affect the pharmaceutical industry. businesses.
The clinical artificial intelligence company went up for sale in November and said it was in detailed talks with a number of parties, but Friday’s crisis will obviously affect the asking price in those negotiations.
The pandemic has given a boost to diagnostics specialist Avacta Group PLC’s (AIM:AVCT) stock price, but the gains are quickly drying up.
Shares, which peaked at 273p in May last year, fell a third to 76.5p this week after the company said its AffiDX antigen test was less effective at detecting charges lower viral strains of the Omicron variant of Covid-19 compared to the sensitivity of the test on other forms of SARS-CoV-2.
The company has independently made the decision to suspend sales of the AffiDX antigen test while it replaces the antibody in the product to ensure that its performance with the Omicron variant matches the high performance with previous mutations.
Speaking of the pandemic, it seems like a long time ago shoppers panicked into buying toilet rolls, much to the benefit of Accrol Group Holdings PLC (AIM:ACRL), the toilet roll company.
The company said this week that it had come under renewed inflationary pressures on input costs, including pulp prices, supply chain costs and energy costs, prompting it to lower its forecast for the full year.
The share price tumbled, losing 29% to 22.5p.