SMALL CAP MOVERS: Union Jack Oil, gas...and Bitcoin!
Union Jack Oil is eyeing early monetisation at its West Newton gas field by channelling natural gas into Bitcoin mining, in partnership with Texas-based 360 Energy.
A feasibility study is complete, and a formal deal is on the cards, with the aim of turning surplus gas into power for crypto data centres. The shares ended flat on the week.
Elsewhere, E CR Minerals, the London-listed gold explorer, is preparing for production in Australia by adopting a digital asset treasury strategy.
The company can now allocate up to half its surplus cash and gold production proceeds to Bitcoin, seeing it as both a hedge and a store of value. Investors welcomed the pivot, with the stock rising 17 per cent.
Digital assets are also reshaping the way capital is raised.
Satsuma Technology has secured a record £163.6million in a convertible loan note, settling much of the raise in Bitcoin, an unprecedented step for a London-listed firm.
Meanwhile, The Smarter Web Company's Bitcoin-denominated convertible bond attracted $21million in backing, blending traditional funding with cryptocurrency exposure.
Together, these moves show how small-caps are using Bitcoin as both a financial tool and a funding source, giving old sectors a distinctly new twist.
Now to the wider small-cap market. After a couple of weeks in the doldrums, AIM rediscovered its mojo, posting a 0.6 per cent gain to 761.34, marginally outperforming the FTSE 100.
The stand-out performer, up 133 per cent on Friday, was Trellus Health, which surged on no news. How long this remains the case is unclear.
The last update, over a month ago, focused on efforts to reduce cash burn and extend its runway to November.
The group, which has a platform to help manage chronic conditions such as inflammatory bowel disease, is being trialled by Johnson & Johnson. Perhaps we are soon to hear an update on this collaboration.
SIMEC Atlantis Energy ended the week 76 per cent higher.
The catalyst was the financial close of its AW1 battery storage project at Uskmouth.
This is a key step in advancing the UK's low-carbon energy ambitions, with the facility expected to deliver annual revenues of around £13million and average earnings of £9million over its first five years.
Up 70 per cent, Europa Oil & Gas investors were cheered by news it has struck an outline deal with a major energy company to farm out an interest in the EG-08 offshore block in Equatorial Guinea.
Chief executive Will Holland said he was 'confident' of inking a definitive deal, which would pave the way for drilling of its primary prospect, Barracuda, thought to host significant gas accumulations.
Now to the week's casualties. Leading the pack was restaurateur Tasty, mentioned in last week's columillion.
It was down 27 per cent, but for the right reasons, if that makes sense. Having brought on David Page, the driving force behind Pizza Express, the task was then to recapitalise the business.
It has raised £9.6million, which will be used to upgrade the existing portfolio, including the Wildwood chain, and implement new technology. The group is also on the hunt for deals.
ImmuPharma results on Wednesday appeared innocuous, but were used by some backers as a cue to lock in profits. Such is the illiquidity of the market at the growth company level, this resulted in a barely justifiable 19 per cent fall in the stock.
Still, if you had invested at the start of the year, you would be sitting on a 30 per cent gain. The company told investors it is deepening talks with potential partners for its autoimmune platform, which bodes well for the future.
Finally, some of the froth came off Premier African Metals as the miner said it had begun the second phase of test runs at its Zulu lithium and tantalum plant.
The company said changes have been implemented and commissioning issues are being addressed, with positive results reported so far.
A decision is expected within seven days on whether to proceed with purchasing a secondary spodumene float section.
Off 16 per cent this week, PAM shares have enjoyed a decent run over the last six months, adding 22 per cent to the company's value.
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The Independent
4 minutes ago
- The Independent
The big questions that hang over Liverpool's forced ‘rebuild'
The big spender argued he isn't that big a net spender. The manager who added a £100m playmaker, a £69m striker and a pair of new full-backs still isn't sure if his squad is stronger than his Premier League -winning version. Arne Slot succeeded after a summer of inactivity in the market. Now, as Liverpool are setting records in the transfer window, the Dutchman is trying to place his expenditure into context and waiting to see how the class of 2025-26 compare to their immediate predecessors. Is this an upgrade? 'That is something I can only tell you on the first of September, because the window is still three weeks open,' said Slot. And if that contained the possibility of another attacking addition, such as Alexander Isak, Slot insisted that, in both his forward line and the centre of defence, he has ample options if no one else joins. Amid the hyperbole and frenzy of the cultural obsession with transfers, outgoings can be camouflaged by incomings, and Slot noted: 'We've also lost starters that have had a big impact on our title-winning season last year.' That, he feels, is not being talked about enough. Their replacements seem high-calibre players. Florian Wirtz, Hugo Ekitike, Jeremie Frimpong and Milos Kerkez are the major recruits, while Giorgi Mamardashvili's move from Valencia was agreed last summer. Yet Slot counsels caution. A reason why he has yet to deliver his definitive verdict on whether this squad is better is because of the circumstances. Can Wirtz adapt from the Bundesliga to the greater intensity of the Premier League, he wonders? Can Kerkez, plucked from Bournemouth, cope with the greater workload? 'I cannot tell you now if these players are able to perform at the same level every three days,' said Slot. 'And I did know that Luis Diaz was able to do that. So, in terms of talent and the quality we've brought in, we see that we have a very good team again. But we have to wait and see; will they stay fit?' Diaz brought in some £65m when he joined Bayern Munich. Include Mamardashvili and various add-ons, and Liverpool's summer spending could already stand at around £300m. Yet when Darwin Nunez's move to Al Hilal goes through, they will have recouped around £190m. They made a profit from trading last summer. 'The net spend of us compared to the other teams is in our favour, if you look at the last two seasons,' said Slot; indeed, Liverpool's net spend is not the biggest this summer. And Slot is thinking about what he has lost as well as what he has gained, and not merely on the pitch. A sensitive man is quick to stress that Diogo Jota 's tragic death affects his wife, children and parents the most. 'I, we, his family, lost him,' he said. Among other things, Jota was a terrific forward and a Slot favourite. Liverpool will continue to mourn him and pay tribute. He leaves a void. 'Then Darwin might be on the verge of leaving,' added Slot. 'Luis Diaz was a definite starter, and Trent [Alexander-Arnold] was a definite starter. So normally in the Premier League, teams only buy, and never sell. We do both. Caoimhin Kelleher and Jarell Quansah played quite a lot of minutes, so that makes four regular starters and two players that played a lot [have left]. 'It's quite normal, if Trent is going to go, that we bring in a full-back. If Luis Diaz is going to go, that we bring in maybe Florian Wirtz, who can play as a [No] 10 and as a left winger. It's quite normal if one attacking option is not there with Diogo, that we bring in Hugo Ekitike. And don't forget that last season we only sold, we didn't buy.' Slot's experience may equip him for a rebuilding job. It was an annual task for him in the past. 'In Holland it's completely normal, because there are levels above Feyenoord or AZ Alkmaar where I worked before,' he explained. 'At a club like Liverpool, there's no level above, so it's not that common that players leave.' Indeed, the previous time a first-team regular left for a sizeable fee was when Fabinho joined Al-Ittihad for £40m in 2023. Then there were signs the Brazilian, like Jordan Henderson, was in decline. Not so with Diaz and Alexander-Arnold. 'We lost players in a good phase of their career,' said Slot. 'I'm used to that, and it sometimes gives new energy as well, because it was one of our strengths that we kept the team the same, because they were very used to each other.' Now there is a different dynamic. Liverpool are spending again, but, casting his eye across the division, Slot said so is everyone else. Many nonetheless expect them to retain their title. 'If we are only favourites because we've spent a bit, I would see that as weird, because we've lost a lot as well,' said Slot. But they have been bolstered by Wirtz and Ekitike, Frimpong and Kerkez. 'It's completely normal that we are one of the favourites, because we won it last season,' accepted Slot. 'And we brought in good players, like all the other ones did, by the way.'
The Guardian
5 minutes ago
- The Guardian
Liverpool should be title favourites but not because of spending, says Slot
Arne Slot has conceded Liverpool can be considered favourites for the Premier League title but played down the impact of their spending and said a summer of upheaval had created some uncertainty over his team's prospects. The head coach accepts Liverpool will carry the mantle of favourites into the new campaign having won a 20th league championship by a comfortable margin last season. Liverpool, who face the FA Cup winners, Crystal Palace, in the Community Shield on Sunday, have since invested almost £300m on new talent and want to add the Newcastle striker Alexander Isak. No Premier League club has spent more than Liverpool but the champions will have recouped almost £200m should Darwin Núñez complete his move to Al-Hilal. The portrayal of Liverpool as lavish spenders, insists Slot, is misleading. 'The net spend of us compared to the other teams is not in our favour if you look at the last two seasons,' he said. 'It's completely normal that we are one of the favourites, because we won it last season. And we brought in good players. Like all the other teams did, by the way. This is what makes this league so nice. I think there's only been one exception [a team winning the league after a frugal summer] in the last two, three, four, five, six years, and that's Liverpool last season. 'Every team in the Premier League is spending money. So if we are only favourites because we've spent a bit, I would see that as weird because we've lost a lot as well. But that we are favourites because we won it last season and we played so well, that's clear. And the ambitions haven't changed, because the ambition of this club is always to compete for every trophy.' Slot believes it is premature to say Liverpool's squad represents an upgrade on last season and says the departures of Trent Alexander-Arnold and Luis Díaz – as well as the tragic loss of Diogo Jota – cannot be ignored. 'The players we've brought in have done really well already, as expected,' he said. 'But I cannot tell you now if these players are able to perform at the same level every three days; we first have to start the season. And I did know Luis Díaz was able to do that, and all the other ones were able to do that. So that is another challenge in the Premier League, because we play so many games. 'For Milos Kerkez, it's going to be his first time at this level probably that he might have to play every three days. Florian Wirtz comes from the Bundesliga, where he was used to playing every three or four days, but we have to ask him in two months if the intensity levels of the Premier League are comparable with the Bundesliga. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion 'In terms of talent and the quality we've brought in, we see that we have a very good team again. But we have to wait and see. Will they stay fit? The ones that have left were almost fit for the whole season. Will all the ones that we brought in do the same? There are multiple factors you need to take into account. I am really happy with the players we've brought in but we've also lost starters that had a big impact on our title-winning season last year.'
Daily Mail
5 minutes ago
- Daily Mail
Arne Slot insists Liverpool can cope with being hunted as Reds hope their £250m summer spending spree will help defend Premier League title
Arne Slot insists Liverpool can cope with the pressure of being the hunted rather than the hunters after their £250million spending spree. Liverpool have revamped their squad since winning their 20th league title, headed by the British record £116m move for Florian Wirtz, along with Hugo Ekitike, Milos Kerkez, Jeremie Frimpong and Giorgio Mamardashvili. Another forward – potentially Newcastle's Alexsander Isak – could be brought in, while Liverpool retain an interest in Marc Guehi, who will be in Crystal Palace 's side at Wembley in the Community Shield though the clubs are some distance apart in their valuations of the England international. Bookmakers have Liverpool as short-priced favourites to win the Premier League and Slot is comfortable with the level of expectation about his side, who he hopes will also go close in the Champions League, too. Slot said: 'It's completely normal that we are one of the favourites, because we won it last season. And we brought in good players, like all the other ones did, by the way. This is the Premier League, this is what makes this league so nice. I think there's only been one exception in the last two, three, four, five, six years, and that's been Liverpool last season. Because every team in the Premier League, Sunderland, is spending money as if they... They have a lot of money, of course, because they're promoted. 'If we are only favourites because we've spent a bit, I would see that as weird, because we've lost a lot of players as well. But the ambitions haven't changed – the ambition of this club is always to compete for every trophy.'
