Traders Cafe with Zak Mir: All Active, Audioboom, Conroy Gold, Mobile Streams, Thor Mining, Wishbone Gold
One of the features of the small cap market since liquidity was sucked out of it by bloated IPOs and share suspensions after Q1 2021, has been the sharp retracements in stocks – even if the underlying fundamentals are solid. A good example of this has been Australia focused mining group Wishbone Gold (WSBN). However, the shares started the week up over 20%, approaching the last premium placing price at 14p, as investors looked forward to results from the company, especially near the Red Setter project, near Newcrest’s Telfer Gold Mine and Greatland Gold’s (GGP) Havieron discovery.
It was not only Lady Gaga who served up a “Bad Romance”. It seems that All Active Asset Capital (AAA) was trying to live up to the spirit of the song, as AAA had to beat a retreat regarding its offer for podcast specialist Audioboom (BOOM). Indeed, just to underline its independence, BOOM not only said that it was concerned over the mix of cash and shares from AAA, whose shares are suspended, it also went on the front foot in raising its trading forecasts. The story was also chronicled in the Evening Standard, as “No Deal Row Over Audioboom Buy-Up.”
After what felt like months of the shares trading sideways below 0.3p, it would appear that shares of mobile content provider Mobile Streams (MOS) are finally building on the breakout seen last week. The initial trigger for the move was a positive performance in Mexico, but this has been finessed by another launche of its LiveScores football 365 service, this time in Argentina. The has been in partnership with Quanta Media Group, with Mobile Streams saying its service will go live in Argentina on October 1.
Although the Twitter cognoscenti of investors have been singing the praises of Conroy Gold and Natural Resources (CGNR) for quite some time, it would appear that September to date has been something of a turning point in terms of the market perception of the company. At the beginning of the month the gold exploration and development company focused on Ireland and Finland, signed definitive agreements for the proposed Joint Venture with Demir Export A.S., on an earn-in basis, over the licences held by Conroy Gold along its 65km district scale gold trend in the Longford-Down Massif in Ireland have reached an advanced stage. At the time Conroy said Demir Export has the mining expertise and the financial resources not only to bring the Clontibret gold deposit to construction ready status and into operation as a mine, but also to advance the significant gold potential of the other licences along the gold trend to the same status.
It would appear that memories of Fukushima and Chernobyl are far behind us, as Uranium has become the new element du jour. This has helped many companies exposed to all things atomic, with Thor Mining (THR) up over 20% as Uranium prices soar. Investors appear to have taken the view that this small cap is due to play catch up with its peers given that Thor Mining holds a 100% interest in each of two private companies which hold uranium and vanadium interests in Utah and Colorado in the United States of America.
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