Member Info for Hedgehog100

"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"

"Stephen English
Investment Director, Stella Asset Management

Stephen English: Twinkle, Twinkle, small-cap stars

Stephen English will present “Twinkle, Twinkle small-cap stars” centred on cyclical/structural reasons why small-caps should out-perform large caps over the coming decade and key learnings from the recent ‘everything bubble’ which is now deflating.

Stephen is an Investment Director at Stellar Asset Management, responsible for running their AIM IHT fund. He believes in trying to give back to the investor community, having delivered keynote addresses at past Mello conferences."

http://melloevents.com/mm-6th-february/

NWT's 6th. February presentation event will kick off with the above keynote address, which looks a perfect introduction to highlight two more general NWT attractions:-
1. NWT being a play on the expected small-cap out-performance compared to large caps over the coming decade.
2. NWT being a little-known share that was bypassed by the 'everything bubble', retaining its 'deep value'.

And the other two company presentations, ahead of NWT, will look far less attractive on those above two criteria:-
1. Impax Asset Management (IPX) has a current market cap. of over a billion pounds. It rose exponentially in the 'everything bubble', and despite falling back greatly last year it is still on a highly-rated valuation, with a P/E in the mid 20s, and a market cap. of about seven times its annual revenue.
2. I3 Energy (I3E) has a market cap. of a quarter of a billion pounds. It's s.p. has quadrupled since mid 2020, and its market cap. is about three times its annual revenue.

That said, the fact that NWT will be presenting with two companies with market caps of c. £1Bn. & £0.25Bn. looks to be quite a coup, and is clearly quite a feather in its cap.

In addition, it's interesting that two of the other three presentations to NWT's will be from asset management companies: i.e. Stella Asset Management and Impax Asset Management.
So it could be an ideal opportunity for NWT to impress these institutional investors, and perhaps stimulate some hefty share buying from one or both of them.
NWT's tax benefits for investors looks a good fit for Stella, and its enabling of remote monitoring can provide environmental benefits, a criteria for Impax.

"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"

"Company Presentation – Impax Asset Management

Founded in 1998, Impax is a specialist asset manager, with approximately £37.9 billion as of 31 December 2022 in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable global economy.

Impax believes that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency. These trends will drive growth for well-positioned companies and create risks for those unable or unwilling to adapt.

The company seeks to invest in higher quality companies with strong business models that demonstrate sound management of risk. Impax offers a well-rounded suite of investment solutions spanning multiple asset classes seeking superior risk-adjusted returns over the medium to long term.

Impax has approximately 280 employees across its offices in the United Kingdom, the United States, Ireland and Hong Kong, making it one of the investment management sector’s largest investment teams dedicated to sustainable development."

http://melloevents.com/mm-6th-february/

"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"

"Stephen English
Investment Director, Stella Asset Management

Stephen English: Twinkle, Twinkle, small-cap stars

Stephen English will present “Twinkle, Twinkle small-cap stars” centred on cyclical/structural reasons why small-caps should out-perform large caps over the coming decade and key learnings from the recent ‘everything bubble’ which is now deflating.

Stephen is an Investment Director at Stellar Asset Management, responsible for running their AIM IHT fund. He believes in trying to give back to the investor community, having delivered keynote addresses at past Mello conferences."

http://melloevents.com/mm-6th-february/

ZEN, with a market cap. of barely £15M. at 0.825p, certainly has a small valuation ... at the moment.

But that should, and I think will, change quite dramatically in the future.

"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"

"Company Presentation – i3 energy plc

i3 is a London (AIM:i3E) and Toronto (TSX:iTE) listed energy company with a diverse, full-cycle portfolio of assets in the Western Canadian Sedimentary Basin (WCSB) and UK North Sea (UKNS).

i3 has 2P reserves in Canada of approximately 154 MMboe and produces over 22,000 boepd from large contiguous holdings in some of the WCSB’s most economic play types, with material upside deliverable through the Company’s sizeable, operated positions at Simonette (Montney) and Marten Hills (Clearwater). i3 produces from over 700 net long-life, low-risk and low-decline wells, spanning over 625,000 net acres, providing steady income that can be distributed to shareholders, used to fund the development of its prolific inventory, or to pursue farm-in and M&A opportunities.

In the UKNS, i3 owns and operates block 13/23c which encapsulates the company’s 2019 Serenity oil discovery and also the highly-prospective Minos High area. The company’s North Sea strategy focuses on the development of existing discoveries that are located proximal to existing infrastructure in order to minimise development capital and maximise economic recovery.

i3 is committed to returning value to shareholders through the deployment of its growth model, by way of growth-related share price appreciation, monthly dividend distributions, and opportunistic share buybacks."

http://melloevents.com/mm-6th-february/

Thanks AEGOS.

I've had a quick scan through that list of the 52 concessions.

There's actually only two of the 52 (Didon, which is the first listed, and Utique), where ETAP isn't using a partner.

And it's operator on just four others where it has a participation partner.

In 46 of the 52 concessions, i.e nearly 90%, another company is the operator.

An extract about ETAP from Wikipedia:-

"Entreprise Tunisienne d'Activités Pétrolières (ETAP) is a state-owned industrial and commercial company in Tunisia directly in charge of the petroleum sector as well as the state's partnerships with foreign exploration and production operators.
Overview
ETAP was created by law N°72-22 on 10 March 1972, to manage petroleum exploration and production activities on behalf of the Tunisian government. ETAP is primarily active in endeavors related to attracting international oil companies to provide financing for exploration projects, particularly in the country's smaller oil fields."

https://en.wikipedia.org/wiki/Entreprise_Tunisienne_d%27Activit%C3%A9s_P%C3%A9troli%C3%A8res

ETAP's modus operandi appears to be contracting with foreign operators for Tunisia's O&G fields.
I can't see any reference to them operating any fields alone.

NZI's 18th. November RNS didn't actually say that they had applied for a resumption of trading, just that they were going to:-
"As a result, they have concluded that it is in the best interests of its shareholders and the TCP to cease talks with TCP and request that its shares resume trading."
https://www.londonstockexchange.com/news-article/NZI/termination-of-acquisition-talks-trading-resumption/15721068

They may have just spoken to the FCA first to discuss the matter, without putting in a formal application.

And such an application and trading resumption can sometimes take weeks.

In the meantime, NZI could potentially arrange a new RTO ... so potentially there may not even be (much) time to desuspend in the interim.

Why are you so keen for them to desuspend, Lazygun?

In my opinion they would be better off staying suspended, if they are actively involved in potential RTO negotiations.

From NZI's second 6.1.23 RNS:-

"Update on resumption of trading

The Board can also confirm that intends to publish its Interim Results to 30 September 2022 by the 16 January 2023 and following those being published will then apply for the lifting of the suspension of the Company’s shares to trading on the Standard Segment of the London Stock Exchange.

Update on activities

The Directors of NZI continue to see a number of prospective transactions in the renewable or clean energy technology sector, in line with its existing acquisition strategy. In the event that a prospective transaction becomes viable the Directors will notify shareholders."

https://www.londonstockexchange.com/news-article/NZI/release-of-final-results/15786050

This suggests that the company only applied to the FCA, to resume trading, after the interims were published two days ago.

An extract from the January 2023 BCRA report on Zenith Energy:-

"Ezzaouia concession

In March 2021, Zenith acquired a 45% working
interest in the Ezzaouia concession through the
100% purchase of Ecumed Petroleum Zarzis (EPZ)
from Candax Energy Ltd. The concession is
comprised of 9 884 acres of land and is located at
the Zarzis peninsula, south of the island of Djerba
in the southern and is operated by MARETAP, a
joint operating company owned in partnership with
the national oil company of Tunisia called ETAP.
ETAP holds the remaining 55% interest in
Ezzaouia."

https://bcra.eu/files/rating_zenith_jan_2023_en.pdf

ZEN have a working-operational interest in the concession, as opposed to an ownership interest, so surely you wouldn't expect the licence to be awarded to EPZ directly.
Even though you would expect them to be actively involved in the licence application.

ENI is a multinational energy company, so would be more likely to have a direct ownership interest in its “Oued Zar” concession.

AGEOS:-
"The simultaneous award of the “Oued Zar” concession 50% to ETAP and 50% to ENI, reinforces the conclusion that ZEN [via EPZ or any other subsidiary] is excluded from this new 20 year Ezzaouia concession as it should have stated “ ETAP 55% and EPZ 45%” if the status quo was to be maintained.."

Pawnsacrifice:-
"Don't have a date for this piece but the deal between ETAP and Ecumed appeared to be structured in such a way as ETAP may be the registered holder?"

It's clearly very positive that NWT will be engaging in this sort of promotional activity after its imminent results.

It's a sign that the company will have a very appealing investment case to publicise, and that the company is attempting to enhance its investment appeal.

Mello's events are very high quality and influential.

And for NWT to be highlighted by Mello should be particularly beneficial in NWT's case, because it is so 'under the radar screens' of most investors.

The probability is that many of them will be astounded by the combination of quality and value on offer here.

(Unless the NWT s.p. has doubled in price by then, in which case they will probably merely be surprised by the combination of quality and value on offer here.)

Thanks to Davidosh on ADVFN for posting this great news this morning:-

"MELLOMonday
INVESTING IN GOOD COMPANY
Monday 6th February 2023, 5pm – 9pm"

"Company Presentation – Newmark Security plc

Newmark Security PLC (AIM:NWT) delivers long-term shareholder value through the provision of products and services that protect both personnel and their data while ensuring security for an organisation’s physical assets. Listed on the AIM market of the London Stock Exchange since 1997, we design and manufacture a range of specialist products and services that ensure safe, secure and productive workplaces. From its locations in the UK and the US, the organisation operates through subsidiary businesses positioned in specialist, high-growth markets.

Safetell provides physical security installations to numerous end-user sectors. Products and services range from Asset Protection Solutions to Counter Terror Deployments. Grosvenor Technology serves the Access Control and Human Capital Management markets globally providing both hardware and software to collect and secure data while maintaining privacy, ensuring compliance and reducing operating costs for its clients. This is typically provisioned through a recurring software as a service model.

Generating a great proportion of its revenues from recurring services through Software as a Service (SaaS) and Clock as a Service (ClaaS) provisioning is part of Newmark’s overarching strategy which is dedicated to building a business that has long-term stability and sustainability at its core."

https://melloevents.com/mm-6th-february/

Yes Dab,

NWT looks to be breaking out upwards ahead of its imminent results.

Not a seller in sight, and still dirt cheap.

Anything below 40p looks to me like 'free money', because it's such a giveaway.

My initial buys here, in late 2021, were in the 40s, and I thought that was dirt cheap.

And since then the position of the company has improved considerably.

Suffice to say that I don't think we'll be in the 30s for too much longer ... and the 50s look increasingly likely in the short term.

Also note that due to recent changes in listing rules, 'newer' main-listed shells like MCI cannot arrange a sub-£30M. market cap. RTO, unlike NZI.

To summarise:-

• 'Pre-existing' main-listed shells that listed by 2.12.21 can still arrange a sub £30M. market cap. RTO (minimum only £0.7M.), up until 1.12.23 completed FCA submissions;
after that they can still arrange RTOs, but subject to the £30M. minimum.

• 'New' main-listed shells can still float with a sub £30M. market cap. (previous minimum only £0.7M.), up until 2.6.23, if they completed their FCA submission by 2.12.21.
- But these shells will be subject to the £30M. RTO minimum.

This clearly gives shells like NZI more flexibility.

And as the supply of older main-listed shells like NZI gradually dries up, their scarcity value increases, with the smallest RTO candidates fighting over this diminishing pool of available shells.

NZI is also far further down the road to arranging a RTO than new shells, and will have an existing list of RTO candidates to choose from, from its work since it listed in September 2021.

Medcaw Investments (MCI), another small shell, floated just before Christmas, and highlights NZI's value compared to many other shells.

MCI raised £0.45M. net in its float, at 10p/share, and its current market cap. at 8.5p is £1.46M. (compared to £1.34M. for NZI at its suspension price of 2.2p).

On Admission, the MCI had a cash balance of £702,393, according to its prospectus on its website.

First Day of Dealings on the London Stock Exchange PRN 21.12.22 08:00:00

"Medcaw Investments plc, a company formed for the purpose of undertaking an acquisition or acquisitions in the life sciences sector life sciences sector, focusing on companies developing medical or wellness technologies and therapies, is pleased to announce that, following the publication of its Prospectus on 16 December 2022, a total of 17,132,095 ordinary shares of £0.01 each in the share capital of the Company will today be admitted to the standard segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc.

Dealings will commence at 8:00 a.m. today under the TIDM ‘MCI’ with ISIN number GB00BM8SQP62 and SEDOL BM8SQP6."

https://www.londonstockexchange.com/news-article/MCI/first-day-of-dealings-on-the-london-stock-exchange/15767500

10.50 -% (-)
MCI ORD GBP0.01
https://www.londonstockexchange.com/stock/MCI/medcaw-investments-plc/company-page

So the TCP deal is indeed off the table now.

But NZI still plans to effect a RTO this year, and should have enough cash to arrange this.

"INTERIM CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTH PERIODED
30 SEPTEMEBR 2022

Net Zero Infrastructure Plc, a special purpose acquisition company formed with
the intention to acquire renewable or clean energy technology companies and to
finance, develop and promote those environmentally sound projects
internationally, is pleased to announce its unaudited interim results for the
six months ended 30 September 2022.

Chairmans Statement

Since the Company's year-end in March 2022, the Board continued to search for
suitable acquisition targets.

On 19 May 2022, the Company announced that it had signed a heads of agreement
with Taylor Construction Plant Limited ("TCP") to acquire the entire issued
share capital of TCPL. On 18 November 2022, the Company confirmed that it had
reluctantly withdrawn from talks to acquire Taylor Construction Plant Limited.
Due to market conditions, the Directors of NZI believed that they could not
raise the funds required to complete this transaction. As a result, they
concluded that it was in the best interests of its shareholders and those of
TCP to cease talks with TCP.

The net assets of the Company, after costs for the aborted transaction are £
879,679.

The Board still aims to effect a transaction in the renewable or clean energy
technology sector, in line with its existing acquisition strategy, in the 2023.

Financial Review

For the six months to 30 September 2022, the Company reports a net loss of £
285,605 (2021: net loss of £173,915). During the six months to 30 September
2022, the Company continued its strict financial discipline, incurring a net
operating cash outflow of £307,879 (2021: inflow of £66,800). The Company held
cash at 30th September 2022 of £888,038 (2021: £66,800). ..."

ZEN's Tunisia-Yemen-Benin projects could fuel a ten-bagging+ in its share price, to 10p+.

Which could make Takeyourbets' ZEN holding worth a cool one million pounds.

'Paltry'?! If that's 'paltry' then please bring in on!

Takeyourbets Price: 0.90 Strong Buy
RE: 0.85-0.95 +6% Mon 09:08
"Flashgarden if people actually listened to me instead of others ( no names mentioned ) they would have made money like I have :). Actually I have just short of 10m shares now. ..."

flashgarden Posts: 119 Price: 0.90 No Opinion
RE: 0.85-0.95 +6% Sun 21:05
"... tyb and his paltry 9 million. ..."

The interims will consist of the interim report with the interim financial statements, and I would think that it is the 'report' part of this that could be delaying things.

NZI will want, if possible, to give an up-to-date indication of whether the TCP RTO is still 'live' or not.

Allied to this is the issue of whether it's actually appropriate for the company to de-suspend or not.

And even if the TCP RTO itself is 'dead', if there are other potential RTO negotiations occurring then I think it would be better to stay suspended, in the circumstances. Because of the overall recent and ongoing uncertainty.

Well done to ARA on such refreshingly good cash conservation.

From ARA's 5th. April 2022 prospectus:-
"The Company recorded an audited total comprehensive loss of £23,734 for the financial period ended on 30 November 2021 and as at 30 November 2021 had net assets of £26,266."
"Estimated Net Proceeds of the Placing and Subscription £828,000"
"On Admission, the Company will have an additional cash amount of £50,000 available for use in making an Acquisition, being the proceeds from the issues of shares in November 2021."

From today's ARA RNS:-
"As of 31 December 2022, the Company had an unaudited cash balance of GBP809,000, reflective of the minimal overhead base following the listing."

= Cash burn of c. £45K., 1.12.21 - 31.12.22, excluding the one-off IPO costs taken off the gross IPO placing proceeds.

From ARA's prospectus dated 5 April 2022, re all four directors:-

" ... not entitled to a fee until the first Acquisition has been completed, at which time his subsequent entitlement to a fee will be considered by the Nomination and Remuneration Committee. ..."

https://aurarenewables.com/investors/

Recent Share Trades for Aura Renew Acq (ARA)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
16-Jan-23 12:30:56 5.97 15,000 Buy* 5.50 6.00 895.50 O
16-Jan-23 08:01:11 5.94 25,000 Buy* 5.50 6.00 1,485 O
16-Jan-23 08:00:06 5.80 40,000 Buy* 5.50 6.00 2,320 O

ARA has closed up 9.1% today, rising 0.5p to 6p.

Today's operation update from ARA is doubly reassuring:-

• The company has been active in pursuing potential acquisition targets, with international battery storage technology companies being particularly mentioned, with sounds exciting.

• The company is clearly husbanding its cash superbly for an intended acquisition.

The prospectus allocates £478K. cash for making an acquisition, and £350K. for general and administration costs.
But I would think that the £350K. will be used largely for due diligence and legal costs etc. for an acquisition, leaving the balance of £478K. to go towards the actual purchase price (combined with the issue of shares to the target company) and/or go to the cash resources of the expanded entity post RTO.

Even with today's rise, ARA's market cap. is still just £630K. at 6p, which is way below its cash, for an asset class (shells) that nearly always trade at a premium to cash.
And even though ARA looks a cut above the average shell.

16th Jan 2023 7:00 am RNS Post Year End Operational Update

... John Croft, the Chairman of Aura commented:

"As we move further into our first full year of operation, Aura continues to explore a range of target acquisitions and investments which the Board considers could offer the potential for significant growth in this exciting, fast-moving and crucially important market sector.

"We expect supply chain, inflation and interest rate issues to be less of a dampening factor on corporate activity in 2023, and believe that capital market activity and fundraisings will slowly recover as the year progresses. Hostilities in Europe and further afield, the lingering impact of Covid, especially in China, are still causes for concern, as is the irrefutable and increasingly evident daily impact of climate change.

"As I have mentioned before, we are more confident than ever that the renewable energy sector will offer excellent opportunities for acquisitive and organic growth for the foreseeable future. We are striving to give the Company and its stakeholders the chance to share in these opportunities, not least to help in some small way to protect our planet for future generations."

Publication on website

A copy of this announcement is also available on the Company's website at http://www.aurarenewables.com.

https://www.lse.co.uk/rns/ARA/post-year-end-operational-update-f1xlki1k79z5hfg.html