Zaim Credit Systems (ZAIM) underlined the way that with solid newsflow, the “cream” can still rise to the top. Earlier in the week, the Russian focused fintech group, issued a Q1 trading update in respect of the first quarter of the financial year ended 31 Dec 2021. The company was able to boast record-high quarter of loans issued of GBP5.1m growing by 34% vs. Q4 2020. Online business is now 84% of business and continues to be the main engine for growth, with the profitable picture underlined by the way that Q1 is traditionally the weakest and worst performing quarter of the year due to seasonal, holidays and traditional factors. Zaim shares jumped just under 5%.
Investment specialist Origo Partners (OPP) which holds a portfolio of unquoted interests, and illiquid, publicly traded, equity interests, in companies based or principally active in China and Mongolia was in positive focus. Its shares jumped nearly 20% off news it has sold its entire interest in Gobi Coal& Energy Ltd and has received USD 275,437, which was that asset's last reported carrying value.
There was another delayed positive reaction in a stock, this time from AIM listed remineraliser producer, Harvest Minerals (HMI). At the start of the week it said that it has acquired at nominal value the mineral rights over an area highly prospective for the exploration of agriculture limestone. This is located in the municipality of Iguatama, Minas Gerais, with the Project being approximately 168km from Harvest's Arapuá Fertiliser Project. Harvest shares were up 20%.
Fundamentals have been gathering at precious metals explorer Wishbone Gold (WSBN). The latest here is that the company’s initial Program of Works for its Cottesloe Silver Project has been approved by the Western Australian Government's Department of Mines. This POW provides for the drilling of 20 reverse circulation drill holes to depths of 250 metres that are designed to test for potential precious and base metals mineralisation on multiple targets previous identified from historic exploration. Wishbone said that its exploration consultants Terra Search will run Cottesloe's exploration concurrently with its work at Red Setter and service the exploration efforts from the Telfer based camp. Wishbone shares pushed up 3%.
Sticking with the mining area, and diversified metals recovery company, Jubilee Metals (JLP) announced a further substantial acquisition of the rights to 944 000 tonnes of PGM containing tailings in the Eastern Limb of the PGM-rich Bushveld Complex. This adds to the PGM Supply Agreements entered in to and the acquisition of 255 000 tonnes of PGM containing material in the Western Limb, the previous. Shares of Jubilee responded with a 9% rise to take them back to the 20p mark for the first time in a month.
There was another delayed reaction in a stock, coming in the form of a 14% rise for Filtronic (FTC). Here, the designer and manufacturer of RF, microwave, and mmWave products for the telecoms, critical communications and defence applications markets, was basking in the afterglow of being honoured last month with a Queen’s Award for Enterprise for International Trade. At the time the company said it continues to invest in both capability and research & development, to help us increase our share in the rapidly growing telecom market.
On the Aquis market newcomer TECC Capital (TEC), a technology focused SPAC, showed how a SPAC should be floated, rising from its initial 6p opening price to end the week at 10p. Here the stock which has Asimilar’s (ASLR) John Taylor as CEO and serial entrepreneur Chris Akers as a significant 9.9% shareholder ended the session up 5%. The company raised just £1.25m, going against the recent trend of bloated IPO’s with flippers on the share register clambering to get out of the shares. Here the merits of a small, tightly held raise have been clearly underlined.
Another company which has been an outperformer on Aquis is Valereum Blockchain (VLRM). Here the stock rose another 5% to 38p. Traders of the company, which is setting itself up to be the bridge between the fiat and crypto world, have been looking forward to a forthcoming OTCQB listing which they anticipate will add a pool of US liquidity and an added appreciation of the stock.