Traders Cafe with Zak Mir: 7Digital, Catenae Innovation, i3 Energy, Polarean, San Leon, Tiger Royalties

Medical-imaging technology company Polarean Imaging (POLX)), whose shares have risen some five fold since the start of the pandemic, said that it has completed the installation of its 9820 Xenon Polariser system for the University of Texas MD Anderson Cancer Center. Richard Hullihen, CEO of Polarean explained that this latest completion of installation expands the clinical and public health frontiers of hyperpolarised xenon imaging and will help continue the vital work in combatting lung disease.

There was an update from independent oil and gas production company San Leon Energy (SLE) regarding its loan notes from Midwestern Leon Petroleum Limited (MLPL). San Leon was due to receive its final payments of over $98m in three equal instalments, commencing in July 2021 and completing by December 2021. It has agreed with MLPL to a conditional payment waiver in respect of the repayment of approximately $32 million of MLPL's Loan Notes, which ends at the end of August. San Leon said last month it was in preliminary discussions with Midwestern Oil and Gas regarding a reverse takeover of the remaining 60% equity interest in MLPL it does not currently own. The discussions are ongoing.

Sticking with the oil and gas space and i3 Energy (I3E) appears determined not only to consolidate its position in the buoyant sector, but also to expand it. The company with assets and operations in the UK and Canada, said that its wholly owned Canadian subsidiary has signed a definitive agreement with Cenovus Energy Inc to acquire assets for a total consideration of CA$65m. I3 added that the strategic acquisition delivers extensive operational synergies, predictable low-decline production, a large reserve base with multi-year development inventory and expected strong free cash flow. Additional multiple benefits of the deal for i3 is that it is set to scale up cashflow, lower unit operating costs, and increase third party tariff income.

There was progress from Tiger Royalties and Investments (TIR), on the occasion of its end of quarter NPV update. This has rise from 0.23p at the end of March to 0.30p at the end of last month - versus a 0.55p share price currently. There were a number of highlights in the portfolio including market newcomers Caerus Mineral Resources (CMRS) which announced an agreement with Jubilee Metals in May, and African Pioneer (AFP) which was listed on the main market last month. Tiger also has a significant holding in Bezant Resources (BZT), as well as Pantheon Resources (PANR) and Reabold Resources (RBD, all well followed private investor stocks.

Digital media and technology group Catenae (CTEA) said that its subsidiary, Hyperneph Software has developed a cloud-based platform and mobile app that is being used with a charity working in conjunction with public sector organisations. The agreement is for a period of up to 12 months and is currently on trial in a major UK city. The mobile app enables Hyperneph's customer to introduce an individual to a service provider and subsequently tracks the progress of their initial engagement, whilst respecting the privacy and rights of the person under the UK's GDPR legislation. Catenae said that there is potential for substantive revenue generation given that there are sixty-eight Metropolitan boroughs in England alone and this service is designed to operate on a borough-by-borough basis. The company has of late been pivoting away from being seen as merely a pandemic play and widened the applications of its technology solutions.

B2B end-to-end digital music solutions company, 7Digital (7DIG) said that it has expanded its presence in the global fitness market by signing 24-month contracts with two new clients: Barry's, the global fitness brand, and Volava, a European interactive fitness platform. The companies will use 7digital's music platform-as-a-service to power their services in the fitness industry. Both contracts consist of an upfront set-up fee as well as recurring monthly revenues. 7Digital said it has signed more than £1m of contracts with home fitness clients.