Small Cap Wrap – Drumz, Red Rock Resources, Invinity Energy and more…

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Banquet Buffet


Drumz 0.7p GBP1.8m (LON:DRUM)


The Company has made its first technology investment in Acuity Risk Management Ltd, (‘Acuity’), which operates an award winning software business specialising in risk management.


Acuity’s business is the supply of its proprietary software, STREAM(TM), and services for cyber security and risk management, used by organisations globally for customers ISO 27001, GDPR, NIST Cyber Security Framework and other programs.


Drumz has invested GBP500,000 in cash for an initial 20 per cent. shareholding, in Acuity with an option to acquire an additional 5 per cent. for a further GBP125,000. As a condition of the transaction, Angus Forrest will become a director of Acuity.




Red Rock Resources 0.925p GBP6.45m (LON:RRR)


Red Rock has entered into an option over former gold and silver mining and exploration assets at Zlata Bana, Slovakia. The vendors of the Assets are Mr Lubomir Konkol and his associated parties including Zdarboh n.o, a non-profit company.


The Assets include a License covering the area which contains old gold mines and a number of mineral-bearing veins mapped at surface, as well as land and buildings.




Botswana Diamonds 0.65p GBP4.4m (LON:BOD)


Placing with existing and new investors to raise GBP 300,000 , at a placing price of 0.6p per Placing Share . Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 0.6p per new ordinary share for a period of two years from, 7 September 2020, being the date of the Placing Warrants issue.


The funds raised will be used to fund ongoing exploration activities during the current year in Botswana and South Africa, and to provide additional working capital for the Company.


The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.


In Botswana, the funds will be focussed on commercialising the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds.




Invinity Energy 115p GBP81.8m (LON:IES)


The manufacturer of vanadium flow batteries for the large-scale energy storage requirements of businesses, industry and electricity networks, has formed a special purpose company, Vanadium Electrolyte Rental Limited VERL”), in partnership with Bushveld Minerals for the purpose of providing an electrolyte rental option for the Company’s customers.


The formation of VERL provides Invinity customers with the additional option to rent the electrolyte used in the Vanadium Flow Battery (VFB) system over a set term. This approach allows customers to reduce the upfront capital outlay of a flow battery system by renting the electrolyte over the life of a project, rather than purchasing it at the outset.


Furthermore, Invinity and Bushveld are pleased to announce that VERL has signed an electrolyte rental contract with Pivot Power, part of EDF Renewables, in respect of 5MWh of electrolyte for use in the Invinity flow battery system which will be delivered to the Energy Superhub Oxford Project . The conclusion of this electrolyte supply agreement marks the completion of a key milestone in the project contracting process ahead of delivery which is expected to commence in late 2020.




CyanConnode Holdings 5.1p GBP9.35m (LON:CYAN)


The specialist in Narrowband Radio Frequency (RF) Smart Mesh Networks, announced a new order for the Indian state-owned utility “Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Ltd” (“MPWZ”), for 350,000 Omnimesh Modules, with the majority of payments secured against a Letter of Credit.


The order has been placed by M.P. Smart Grid Private Limited, which is the Project Special Purpose Vehicle formed by India Power Corporation Ltd and is for smart-metering communications in the towns of Ujjain, Dewas, Ratlam, Mhow and Khargone.


MPWZ serves more than 3 million consumers. CyanConnode previously announced and deployed two orders for this utility, totalling 120,000. Most of the order will be paid for under a CapEx model with the balance of the order being paid for under an OpEx model with Equated Monthly Instalments, over a five year period.




Kibo Energy 0.3p GBP4.2m (LON:KIBO)


100% UK subsidiary, Sloane Developments Ltd. (‘Sloane’), has agreed the Heads of Terms for a Share Purchase Agreement to acquire a 9MW flexible gas power project .


The Acquisition is in line with the Company’s strategy to acquire and develop a portfolio of small-scale flexible power generation assets that will help balance out the UK’s national grid at critical times. Sloane currently has a direct 100% interest in a shovel-ready 5 MW gas fuelled power generation plant, Bordesley, which is currently under development and Sloane is also in the process of preparing for a listing on the Standard List of the London Stock Exchange (See RNS of 23 July 2020).




Frontier IP 73.5p GBP40.4m (LON:FIPP)


Frontier IP, a specialist in commercialising intellectual property, announced the appointment of Mark Rosten, the former Senior Vice President Development for mobile payments specialist Bango PLC, as Software Commercialisation Director, a non-board role.


Mark has more than 30 years’ experience in leading software and product development teams across Healthcare, FinTech and Transport, in companies ranging from start-ups to Small and Medium-Sized Enterprises and larger corporations.


As Senior Vice President Development at Bango, Mark led delivery of its largest product innovation project. This provided direct carrier billing for the world’s largest online e-commerce merchant with the leading Japanese telecom operators.




Pantheon Resources 23.8p GBP119.7m (LON:PANR)


Update on its 89.2% – 100% owned projects on the Alaskan North Slope: its Alaskan subsidiary, Great Bear Pantheon, has now received notice from the Alaska Department of Natural Resources (DNR) that its application to form the Talitha Production Unit of 44,373 acres is complete and eligible for approval. This follows a similar notice received for the 22,804 acre Alkaid Production Unit announced last week. The DNR has opened a public comment period on the application which closes on October 12, the same date as for the Alkaid application, and the DNR will then make a decision on both applications thereafter.


Pantheon confirms that it is actively engaged with multiple parties who are presently undertaking analysis of the farmout opportunity. Such parties range from National Oil Company in size to smaller, more specialist groups, and accordingly farmout discussions have ranged over the entire Alaskan portfolio to smaller singular projects. Pantheon confirms its objective is to drill in Alaska this coming 2020/21 winter season if it concludes a farmout transaction by the end of autumn.




Codemasters 374.5p GBP570.8m (LON:CDM)


The award-winning British videogame developer and publisher specialising in high-quality racing games, provides an update regarding the launch of DIRT 5, scheduled for release on 16 October 2020.


The Company can confirm that the game will now be released on 6 November 2020 on PlayStation(R)4 computer entertainment system, the Xbox One family of devices including the Xbox One X and PC. The revised launch date will allow the Company to release all versions of the game in a shorter timeframe, with the next generation of consoles (PlayStation(R)5 and Xbox Series X) launches expected for the holiday season.


The Board believes that this later launch date will have no impact on the Company’s financial expectations.




CloudCoCo Group 2.05p GBP10.15m (LON:CLCO)


The UK provider of IT and communications solutions to businesses and public sector organisations, announces the launch of a Secure Global Learning Access (SGLA) solution for UK institutions delivering education and their students, and inclusion of the solution in a leading education procurement framework.


In partnership with Fortinet, a global leader in broad, integrated and automated cybersecurity solutions, CloudCoCo has developed a scalable global remote access solution for UK institutions delivering education and their international students that solves the problem [of restricted mobility highlighted by the COVID-19 pandemic] , allowing students to remotely access learning resources without compromising internet speed, security or contravening internet restriction laws.




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