Report archive

Apollo Minerals Limited - Reopening the world's highest grade tungsten mine


Apollo Minerals Limited (ASX:AON) is an Australian Securities Exchange-listed tungsten-gold company with projects in the Pyrenees region of Southern Europe. In May 2016 the company was restructured with new management and capital that enabled it to acquire an 80% interest in the Couflens Project (July 2017) in southern France and a 75% interest in the Aurenere Project...

Published: 08:20, 15 May 2018

Sumo Group Plc - Playing for Keeps


Sumo Group (LON:SUMO) provides creative and development services to the video games and entertainment industries, through two main operating businesses: 1) Sumo Digital, representing 90% of group revenues, is a key co-development partner and turnkey video games developer with a history of working with blue-chip clients such as Sony, Microsoft, Sega and EA (among others);...

Published: 13:58, 09 May 2018

Plastics Capital Plc - Trading update


Plastics Capital (LON:PLA) released a trading update on May 2, for the year ending March 31. The company reports that trading remains broadly in line with market expectations. The statement confirms a strong annual revenue growth, reflecting the contribution from the acquired CCM creasing matrix business and also increased organic growth, led by the Films division. The...

Published: 10:43, 02 May 2018

PCF Group - Funding Update


PCF Group ( LON:PCF) has announced that deposit funding from retail investors, which only started in July 2017, has increased substantially again and now exceeds £100m. This compares to previous announcements of £53m at the end of September ‘17, and £81m at the end of February ’18. We estimate that compared to the last reported Group total liability dated September ‘17,...

Published: 14:46, 17 Apr 2018

Avacta Group - Rapid Progress of Immuno-oncology Programs


KEY INVESTOR MESSAGES Faster than expected development of the second immuno-oncology (I-O) program, a LAG3 inhibitor, allows company to evolve its lead program into a more ambitious LAG3/PD-L1 bispecific aiming to enter the clinic in 2020 Good progress of the ongoing external collaborations in two key areas: gene delivery (Moderna, OncoSec, FIT Biotech) and...

Published: 09:00, 16 Apr 2018

Summit Therapeutics Plc - Stock Valuation Undemanding


- Key inflection point: topline data readout from the PhaseOut DMD phase 2 trial in Duchenne (DMD) expected in 3Q 2018 - Imminent start of a pivotal phase 3 study for ridinilazole in C. difficile infections (CDI) - Recent Discuva acquisition reinforces novel antibiotics discovery capabilities  - Current valuation (market cap of c. $165 mln) undemanding given...

Published: 12:24, 03 Apr 2018

Kasbah Resources - Exposure to the Tin Market


Kasbah Resources Limited (ASX:KAS) was listed on the Australian Stock Exchange on 27th April 2007 with the objective of bringing the Achmmach tin project in northern Morocco into commercial production. After completing the major evaluation steps and analysis, Kasbah Resources Limited (ASX:KAS) is in the final stages of preparing a definitive feasibility study to develop...

Published: 08:11, 29 Mar 2018

e-Therapeutics - FY 2018 Results Show Good Progress


e-therapeutics reported results for the full year to Jan 31st 2018; business updates reflect good progress on the main research programs. Cash balance of £9.6mn was slightly higher than we expected, thanks to careful cost management.  

Published: 13:02, 28 Mar 2018

Judges Scientific PLC - FY 2017 Results


Judges Scientific (LON:JDG) reported strong full-year 2017 results posting record high revenues, adjusted operating profit, adjusted earnings per share, and dividends. Overall earnings came stronger than expected driven by healthy organic growth as well as contributions from new acquisitions. The company’s priority in delivering returns to shareholders remains unchanged.

Published: 08:28, 22 Mar 2018

Genedrive PLC - Interim Results for the six months to December 2017


Genedrive's PLC (LON: GDR) HepC test just entered the commercial phase as partner Sysmex launched in EMEA and APAC territories  in recent weeks Re-design of the mTB test in progress, launch date to be announced in the next fiscal year Discussions for the disposal of the Services business entered an exclusivity period, expect an update by the end of...

Published: 10:15, 21 Mar 2018

Midatech Pharma PLC - Addressing high unmet need in cancer markets


A fully integrated specialty pharma company, Midatech Pharma (LON:MTPH) is rapidly progressing the development of three lead R&D programs. They have developed three proprietary drug delivery technologies (Q-Sphera, Gold Nano Particle and Nano Inclusion) to improve and expand the therapeutic potential of validated drug products. At the same time Midatech has built a...

Published: 13:32, 14 Mar 2018

BB Healthcare Trust - Positioned to Maintain Returns


Healthcare remains a highly attractive sector, supported by a tidal wave of innovation in both therapeutics and the provision of healthcare services BB Healthcare team is now building up on 2017 outperformance (+4.9%, despite currency headwinds) and asset growth Expect 2018 stocks' performance to be driven more by fundamentals (and M&A), less by political issues...

Published: 13:19, 06 Mar 2018

IQE PLC - Semiconductor Wafer Pioneer


IQE is a leading global supplier of advanced semiconductor wafers that are used in various applications ranging from mobile communications to industrial power. The company boasts a diversified global customer base and a unique IP portfolio with over 150 patents that enables the firm to provide a unique service to its customers. Headquartered in Cardiff, Wales, IQE shares...

Published: 11:39, 06 Mar 2018

G3 Exploration Limited - Operational update


G3 Exploration (LON:G3E), previously Green Dragon Gas, published an operational update for its Baotian-Qingshan (GGZ) Block, located in the Guizhou Province of Southern China.

Published: 10:22, 05 Mar 2018

Plastics Capital PLC - Trading Update


Plastics Capital (LON:PLA) released a trading update on March 1st, for the year ending March 31st. The company reports that trading remains broadly in line with market expectations. Revenue growth has remained strong in the second half, particularly in the Films division, reflecting the company’s programme of investments in expansion. In terms of profitability, the...

Published: 09:55, 01 Mar 2018

Sanderson Group Plc - Reputable Track Record of Growth


Sanderson is a well established software and IT service provider in the UK. The company has a proven strong revenue model and a reputable track record of delivering both organic and acquisition-led growth. The Sanderson shares climbed 18% during 2017 and we believe the share price has more room to grow. We find Sanderson well poised in the growing multi-channel retail...

Published: 15:17, 26 Feb 2018

Crossrider - Still More to Come


Crossrider Plc (LON:CROS) is a B2C software business focussed on security/privacy and performance solutions. The company operates three core brands:        

Published: 11:28, 22 Feb 2018

Evgen Pharma PLC - Harnessing Sulforaphane's Therapeutic Properties


Sulforaphane, a natural compound first isolated from a precursor in Brassica plants, has shown therapeutic potential, but has also proven too unstable to be manufactured as a drug on commercial scale. Evgen Pharma (LON:EVG) has developed a proprietary technology - Sulforadex® - that allows the synthesis of sulforaphane in the form of a stable, solid powder that can...

Published: 13:53, 21 Feb 2018

Tag Oil Ltd - Operational Update


TAG Oil Ltd (TSE:TAO) has announced that it and its joint venture partner, Melbana Energy (30%), have commenced drilling operations operations on the Pukatea-1 exploration well, with the Nova-1 drill rig mobilized to the drilling pad in mid-January and drilling currently underway

Published: 11:13, 09 Feb 2018

Rose Petroleum - Update on 3D seismic data interpretation


Rose Petroleum (LON:ROSE) announced the completion of the initial structural interpretation of the 3D seismic data it acquired over its Gunnison Valley Unit (GVU) which is part of its larger lease holding in the Paradox Basin, Utah, U.S.A. As a result of this work, key geological structures and multiple drilling targets have been identified, with to date 53 well...

Published: 08:56, 07 Feb 2018

PCF Group - Forecast Update


Following the release of the 2017 full year results for the financial year to end September 2017 on the 5th December 2017, and ahead of the release of the 2017 annual report due on the 6th February 2018, we have updated our forecasts for profit and earnings for the period 2018e to 2020e.

Published: 11:45, 29 Jan 2018

Avacta Group Plc - On track and undervalued


At the AGM of January 18th, Avacta reported good progress for both the Affimer therapeutic and reagents programs. Their lead immuno-oncology development program is proceeding according to plan and multiple development milestones are expected in the course of 2018 (see next section for further details).

Published: 10:18, 24 Jan 2018

Genedrive -On Track to Launch the First CE-market Decentralised HCV Test


Overall Genedrive PLC (LON: GDR) reported a business and financial update for the six months to December 2017 in line with expectations Launch preparation of Genedrive® HCV test with partner Sysmex on track, expect sales to start coming through in CY2018 £1.3mln income from the ongoing collaboration with the US DoD, in line with...

Published: 09:48, 18 Jan 2018

Spirent Communications Plc - Smarter Connectivity


Spirent Communications is a world leader in providing products and services for test and measurement of communications systems across fixed and mobile voice, data and video applications and networks. In this report we argue that the company is positioned for increased earnings growth in the coming years, based on the success of the recent cost-base reduction program,...

Published: 15:24, 08 Jan 2018