Traders Cafe with Zak Mir: 88 Energy, Avacta, Cloudbreak Discovery, Dev Clever, Gunsynd
Shares of Edtech specialist Dev Clever (DEV) bounced back 3.5p to 45p, in the wake of Monday’s Half-Year Report. The financial highlight here was that revenue rose 531% at £2.4m for the Period (H1 2020: £383k) and this was supported by significant contract wins in the Educate division. The company has also been supported by a recent research report from RBSA Advisors, the Indian EdTech market is poised to transform from a $700-800 million market to a $30 billion in size in the next 10 years. Traders also took advantage of a bear trap dip for Dev shares below 40p, as well as the expectation of further significant newsflow from the company which would be worth of a decent re-rate in the stock.
One of the key things investors like to see at investment companies are liquidity events, something that Gunsynd (GUN) managed to offer in December, with no less than three of them. It is at it again, with news that Charger Metals Limited, one of Gunsynd's investee companies is expected to begin trading on the Australian Securities Exchange (ASX) on Friday 9 July 2021, under the ticker symbol ASX:CHR. Charger Metals successfully raised A$6 million in the IPO capital raising, and Gunsynd will hold 3,600,000 shares in Charger representing approximately 7.14% of the company's issued share capital. Charger Metals is a Western Australian focused Base metals and Lithium exploration company.
Natural resource project generator Cloudbreak Discovery (CDL) announced that investee company Imperial Helium Corp. in which it owns 1.25 per cent has spud IHC Steveville 1 at 102/03-01-020-12W4M, Imperial Helium's first well on its Steveville Helium Property, located in Southeastern Alberta, on schedule. IHC Steveville 1 is the first of two appraisal wells Imperial Helium plans to drill on the Steveville structure. Kyler Hardy, CEO of Cloudbreak Discovery, said the company is looking forward to working with Imperial Helium to establish the resource available.
Shares of 88 Energy (88E) rose 0.15p to 2.25p, having been a firm market over the past week. At the beginning of the month the company said it had completed the sale of the Alaskan Oil and Gas Tax Credits for $18.7 million cash. $16.1 million of the sale proceeds were applied to the full repayment of 88 Energy's outstanding debt with FCS Advisors, meaning that the company is now debt free.
There was perhaps a rather surprising dip in shares of diagnostics group Avacta (AVCT), with the stock back to the 150p’s support area from which they rallied towards 200p last month. At the end of June the company said that a study has shown that the AffiDX® antigen lateral flow test detects the Delta variant of the SARS-CoV-2 virus in clinical samples. In this small study, it outperformed two lateral flow antigen tests that are commercially available in Europe.
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