Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Oklahoma is one of the biggest oil and gas states in America, producing almost 500,000 barrels of crude a day and huge quantities of natural gas.
Employing 15 per cent of Oklahoma’s workforce, the sector contributes $60billion (£48billion) a year to economic growth.
Production is well honed, generating not just fossil fuels but vast amounts of oilfield brine.
Progressive: Iofina has pioneered a way to extract iodine from the brine, turning dirty water into a valuable resource
Progressive: Iofina has pioneered a way to extract iodine from the brine, turning dirty water into a valuable resource
Traditionally, this has been viewed as waste water. AIM-listed Iofina considers it an asset.
The firm has pioneered a way to extract iodine from the brine, turning dirty water into a valuable resource. Iodine has numerous applications.
An essential mineral that promotes growth and brain health, it is added to salt and other food across the world. Iodine is also used to make images clearer in magnetic resonance imagery (MRI) scans and is a critical element of products from pesticides to preservatives.
Iofina sells both pure iodine and related compounds used by manufacturers and industrial firms in the US and internationally.
Midas recommended the shares in September last ear, when they were 23.5p and boss Tom Becker was about to start work on his sixth iodine plant in Oklahoma.
That site is now up and running, with a seventh expected to come on stream next year.
Assessing which locations will yield the most iodine and developing partnerships with oil and gas firms in those places takes time and effort. But Becker and his team are experienced and well connected, they know where to look for deals and plan to continue doing so.
Recent hard work is paying off. Shares have risen 23 per cent to 29p over the past 12 months and Becker last week unveiled upbeat interim results, with pre-tax profit soaring 80 per cent to $4.7million (£3.8million), despite rising costs.
Annual production is set to hit nearly 600 tons, with Becker optimistic of reaching 1,000 tons a year by 2027 at the latest.
Iofina’s compound arm is firing on all cylinders, increasing sales and working with customers in sectors as diverse as animal feed and lithium batteries.
Brokers expect strong, sustained growth across the group, suggesting the share price should reach 40p, as production increases and new deals come to fruition
Midas verdict: Iofina shares have performed well but they should continue to rise, as Becker delivers his strategy. Iodine is in demand and Iofina’s technology is cleaner and lower-cost than many rivals. At 29p, the shares remain attractive.
The interesting thing is whether this has taken out the last of the Helium holding.
Proteome Sciences plc
("Proteome Sciences" or the "Company")
Director/PDMR Shareholding
The Company has received notification from Roger McDowell, a Director of the Company, that on 16 April 2021 he purchased 900,000 Ordinary Shares in the Company at a price of 5.00p per share. Roger McDowell now holds 3,400,000 Ordinary Shares in the Company, which represents approximately 1.15% of the issued share capital of the Company.
Proteome Sciences plc
("Proteome Sciences" or the "Company")
Director/PDMR Shareholding
The Company has received notification from Richard Dennis, Chief Commercial Officer, that on 12 April and 13 April 2021 he purchased, in aggregate, 625,000 Ordinary Shares in the Company at an average price of 5.22p per share. Richard Dennis now holds 625,000 Ordinary Shares in the Company, which represents approximately 0.21% of the issued share capital of the Company.
Today's presentation was interesting, not for the fact that trading is going well and the company is generating cash, but for the very clear expectations of a corporate deal . The company recently announced a corporate review focusing on the prospects, in part i believe, generated by the significant increase in proteomics companies coming into the market in the US. Many of these companies have raised $100's of millions, have no products, no sales and very high if any p/e multiples. Along with investing in their own research projects they may well be looking for businesses to acquire in which they can invest some of the very large sums of money they have raised. Proteome Sciences may represent an attractive opportunity for some of these companies, not just from the current trading interests but from the very significant patent portfolio which they are unable to exploit. I'm not forgetting or discounting the potential from stroke or other parts of the business but I do not believe this is the main focus of the new Chief Executive. She highlighted the current interest in the proteomics sector and the possibility of deal opportunities. For the principal shareholders to get any reasonable return on their investment they need a more radical solution. The tech sector is full of amazing deals and amazing prices paid for relatively small companies with potential, this I think encapsulates PRM. Have a look at the presentation which should soon be on the Company's website and make you own minds up