Traders Cafe with Zak Mir: Caerus Mineral Resources, Ferro-Alloy, Netscientific, Osirium, Omega Diagnostics, Riverfort

Zak Mir
Traders Cafe
05:42, 9th June 2021

There was a solid revival at relatively obscure cloud-based cybersecurity software group Osirium Technologies (OSI). This has been a quiet market of late apart from some institutional shuffling on the shareholder register. However, buyers of the stock, which rose up 21%, were clearly assuming that after an extended hiatus there could be some fresh newsflow from the company. The last major update from Osirium, apart from a placing in April, was the latest in a series of NHS trust customer wins for its Privileged Access Management solution. At the time the company said these deals follow on from a cybersecurity guidance by the National Cyber Security Centre and a NHS Digital initiative, launched towards the end of 2020, which provided funding to NHS trusts for privileged access solutions to address the mounting challenge from ransomware targeting backup systems.  

Stock market punters were treated to another day in the sun for Netscientific (NSCI), where the “Sunday Roast Podcast Effect” was given a rather dynamic boost at the start of the week by news regarding its subsidiary ProAxsis Limited entering into an exclusive licensing agreement with the AstraZeneca (AZN). This has been added to by news that portfolio company, PDS Biotechnology presented interim data from the Phase 2 trial led by the National Cancer Institute at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting.

Shares of Caerus Minerals (CMRS), the exploration and resource development company operating in the Republic of Cyprus, witnessed a decent double digit percentage rebound. The stock has continued to regroup in the wake of the profit taking and a dip below the 20p level, which was seen in the wake of an operations update delivered in the middle of May. At the time the company said that 24 of the 39 drill holes have been completed on the North Mathiatis copper-bearing waste stockpiles, with full completion of the programme expected by the end of the month. Perhaps key was the comment that there was prioritisation of prospective copper-gold Joint Venture projects underway by way of a re-assessment of each of the Company's 16 candidate sites against Jubilee Metals Group (JLP) JV criteria.

There was a tidy update from Kazakhstan focused Vanadium specialist, Ferro-Alloy Resources (FAR). Here the company announced the completion of the Initial Investment by Vision Blue Resources and that Sir Mick Davis (ex-Xstrata) has joined the board as Chairman. FAR has now received the further investment of US$1.6m in addition to the investment of $1.5m already made, bringing the total invested by Vision Blue and its co-investors to date to $3.1m.

With the Government and / or the vaccine companies continuing to string the pandemic along into the summer, the cliff edge for diagnostic companies appears to have been postponed for now. That said, newsflow does not seem to pack the same positive punch to the share prices of leading stocks in the space. For instance, Omega Diagnostics (ODX) said that it has begun the process of engagement with its European Notified Body seeking CE marking of the VISITECT® COVID-19 Antigen test, a rapid point-of-care diagnostic test for the detection of active COVID-19 infections as a self-test. Omega said the test is already CE marked for professional-use and the Company is targeting approval by the end of July to allow the test to be sold in Europe for home-use as well.

It has been interesting to see how investment company RiverFort Global Opportunities (RGO) has managed to transform its stock market perception over the past year, on the occasion of audited final results for the year ended 31 December 2020. The company which was principally known as the provider of structured finance in the small cap space, has souped up its shareholder register and seen the stock more than double off the back of shifting to the new rock and roll of next generation tech investing. This currently includes Pluto Digital Assets and cybersecurity specialist Smartech247. Paying out a dividend and sitting on a war chest of some £2m means that it can pounce on fresh situations at will. 

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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