RNS Hotlist: Argo, Artemis, Audioboom, Bidstack, ImmuPharma, Kromek, Mode, Novacyt, Pensana, Sabien, Sovereign

Audioboom (BOOM), the podcast company, announced that its Interim Results for the six-month period ending 30 June 2022 will be published on Monday 18 July 2022. Stuart Last, CEO, and Brad Clarke, CFO, will provide a live presentation relating to the 2022 Interim Results on 18 July 2022 at 4:00pm. The presentation is open to all existing and potential shareholders, the former of which will be hoping that more of the latter materialise in the time leading to this event.

Sovereign Metals (SVML) announced that it has entered into a non-binding MoU with Mitsui. The MoU establishes a marketing alliance and offtake for 30,000 tonnes of natural rutile per annum from the Company's world-class Kasiya Rutile Project (Kasiya) in Malawi. SVML said this MoU creates a marketing alliance between the two parties to jointly market Sovereign's rutile across Asia and other markets. The alliance will allow Sovereign to leverage off Mitsui's extensive network and their market-leading understanding of the titanium industry and global logistics.

ImmuPharma (IMM), the drug discovery and development company, announced that its US partner for Lupuzor™ (P140), Avion Pharmaceuticals, has advised that it has now received Type C Meeting confirmation from the FDA. The statement of purpose, objectives, and proposed agenda of the Type C meeting have been agreed with the FDA.

Bidstack Group (BIDS), the in-game brand activation platform, announced a trading update for half year ended 30 June 2022. Unaudited revenue up 160% to £2.1m (H1 21: £820k); Year-on-year gross margin improvement (H1 21: 34.5%); and Unaudited period end cash balance of £3.6m (H1 21: £695k), with further significant non-trading cash receipt expected in Q322. It will be interesting to see whether the sharp jump in the cash balance finally silences long standing naysayers of the company.

Pensana (PRE) and Yorkshire Energy Park announced the world's first rare earth processing hub powered by offshore wind. Pensana has signed a letter of intent securing private wire connection to battery storage operated by Yorkshire Energy Park under which it will have access to 4 MW rising to 10 MW of low carbon electricity for 10 years. Pensana will use the low-cost and resilient supply of low-carbon electricity to power the Saltend separation facility and then later to power the conversion of NdPr Oxide into magnet metal.

Novacyt (NCYT), a specialist in clinical diagnostics, announced a trading update for the half year ended 30 June 2022 and an update on delivery against its strategy as announced at the time of the full year 2021 results on 28 April 2022. The company said its inventory balance at the end of H1 2022 is estimated to be circa £10.5m, of which approximately 80% is associated with COVID-19 products. Based on lower forecast COVID-19 sales, Novacyt plans to increase the stock provision by £6.5m to cover excess, short and out of shelf-life finished goods and raw materials. This will result in a net inventory balance circa £4.0m.

Kromek Group (KMK), a developer of radiation and bio-detection technology solutions, announced that it has entered into a distribution agreement with Smiths Detection Inc., a global leader in threat detection and security screening technologies. Under the terms of the agreement, Smiths will distribute the Group's wearable radiation detection and identification solutions to North and South American markets.

Sabien Technology Group (SNT), the company focused on a green aggregation strategy, announced a trading update ahead of the publication of its final results for the year ended 30 June 2022. The company said despite a challenging supply chain environment, it has achieved a “solid” result for the M2G business once supply chain timing issues are resolved, in addition much development of the COF/b.grn business has been achieved and a fundable business model developed.

Mode Global Holdings (MODE), the LSE-listed Fintech Group, announced the appointment of Dr Jose Sanchez Loureda as Chief Technology Officer. The company said Loureda is an experienced leader in technology, data analytics and digital transformation, and joins the firm following his tenure at The Crown Estate. He will be responsible for helping Mode enhance its tech offering, notably driving product innovation, and understanding customer and merchant needs via data-driven insights.

CAP-XX (CPX), a specialist in the design and manufacture of supercapacitors, announced a trading update in respect of the financial year ended 30 June 2022. Revenues and adjusted EBITDA for the year ended 30 June 2022 are expected to be in line with current market expectations. Product sales were up 39% by value on the previous year and total revenue up 31% on the previous year at A$5.6m.  Adjusted EBITDA is expected to be a loss of (A$699K), after excluding A$2.4m in legal fees associated with the AVX and Maxwell court cases. EBITDA for FY22 is expected to be a loss of (A$3.1m) when the A$2.4m in legal fees are included.

Argo Blockchain (ARB), a cryptocurrency mining company, provide an operational update for June 2022. During the month of June, Argo mined 179 Bitcoin or Bitcoin Equivalents, compared to 124 BTC in May 2022. The increase in BTC mined is primarily due to an increase in total hashrate capacity and greater uptime at the Helios facility compared to the previous month.

Physiomics (PYC), a provider of technology-based solutions for the biopharma industry, said that its total income and profit after tax for the financial year ended 30 June 2022 is likely to be in-line with market expectations. During the year the company made planned investments in the hiring of three new staff members which contributed to net cash outflows of £356k.  Despite this, the company's cash position remains “strong,” with £687k at the bank as at 30 June 2022, representing almost two years of cash runway. Clearly, a tight ship is being run here.

Artemis Resources (ARV) provide an update on its 100%-owned Paterson Central Gold and Copper Project in the Paterson Province in the West Pilbara regions of Western Australia. The company said that with drilling now underway, it is focussing on the additional value that exploration success at Paterson Central and our Greater Carlow Project could bring to the Company's current market capitalisation of approximately ~A$42m. This is underpinned by the book value of the Radio Hill Plant (~A$20m) and current cash (~A$6m) and listed investments (~A$6m).