SMALL CAP MOVERS: Beowulf and the epic story of reindeer herding, plus John Lewis (the Hungerford one)

Who’s afraid of big, bad Beowulf Mining?

Not investors this week, as they piled into the mineral exploration and development company after sensing the wind of change in Sweden towards mining projects such as Beowulf’s Kallak project.

‘The recent political changes in the composition of the Government and the public statements by you and the Prime Minister have caused excitement amongst Beowulf shareholders,’ said Kurt Budge, the company’s chief executive officer in a letter to Karl-Petter Thorwaldsson, Sweden’s new Minister of Enterprise and Innovation.

'In Sweden industrial activity and reindeer herding coexist', claims the boss of Beowulf Mining

‘In Sweden industrial activity and reindeer herding coexist’, claims the boss of Beowulf Mining

The shares practically doubled to 10.1p following positive comments from the new Swedish prime minister, Magdalena Andersson, about the need for more mines in the country and an indication from Thorwaldsson that things ought to get moving on the Kallak project.

The first exploration licence at Kallak was granted in 2006 but the development of the project has been beset by concerns over the effect of any mining development on the reindeer herds in the area.

‘All the evidence in Sweden is that industrial activity and reindeer herding coexist. This includes the mining sector, where despite differences, agreements are made and all stakeholders benefit,’ Budge claimed in his letter to Thorwaldsson.

Investors in newly listed Technology Minerals are sitting pretty after a successful introduction to the market.

From a debut price of 2.25p, the stock is now trading at 3.09p, giving a profit of 37 per cent for those people who took part in the November 17 IPO. At one point last week the price was up at 4p.

TM is a battery metals play with a green twist. It owns mines that will one day feed the growing demand for battery power.

It also owns 49 per cent of a business that recycles both lead-acid and lithium-ion batteries. The recycling business has the potential to be very quickly cash flow positive and profitable, with two sites expected to be up and running next year.

Not all initial public offerings go so well as is evidenced by the long-running sorry case of Tungsten Corp, where shareholders got some much-needed succour from the latest announcement by the company, which boosted the share price by 36 per cent to 33.5p.

Floated at 225p back in October 2013, the e-invoicing company has been a dog stock since then but perked up after it announced it had been selected by Amazon Business to support the US giant’s global e-invoicing programme in Europe and the US.

The partnership will enable customers to automate the processing of Amazon Business invoices via the Tungsten e-invoicing network.

Christmas is coming and so the thoughts of many turn to John Lewis but probably not John Lewis of Hungerford, the specialist manufacturer and retailer of kitchens, bedrooms and freestanding furniture, which unlike its better known namesake is not known for eagerly-anticipated Christmas advertisements.

The lesser-known John Lewis saw its shares climb by a third to 1.675p after it entered into a 10-year lease on a warehouse facility, with additional office space, on the Grove Business Park close to the company’s manufacturing facilities in Wantage at an annual cost of around £65,000.

The first six months is rent-free, which is a Christmas bonus but sadly not enough to pay for an advertising spot on the telly.

John Lewis of Hungerford , the specialist manufacturer and retailer of kitchens, bedrooms and freestanding furniture, saw shares climb by a third this week

John Lewis of Hungerford , the specialist manufacturer and retailer of kitchens, bedrooms and freestanding furniture, saw shares climb by a third this week

With the Omicron strain of the Covid-19 virus dominating the headlines, Genedrive chose a good time to submit its new rapid point of care molecular test for Covid detection for CE-IVD certification.

The Genedrive Covid kit offers a step-change in rapid molecular testing, delivering positive results as quickly as 7.5 minutes and negative results at 17 minutes, the company said.

The news sent the shares 86 per cent higher at 43.25p.

Marshall Motor Holdings revved up to 392p (up 43 per cent on the week) after its board recommended a takeover offer from Constellation Automotive Group, which owns Cinch and webuyanycar.com.

The offer is worth 400p in cash per share.

Contract news from PipeHawk sent shares in the ground-penetrating radar specialist 89 per cent higher to 16.75p.

QM Systems, one of the group’s principal subsidiaries, has entered into a partnership with Ventive Limited to manufacture (appropriately enough) a groundbreaking ‘green energy’ solution to providing domestic heating and hot water.

Napster Group, once the king of the music file-sharing universe (when that was a ‘thing’) and now something of an also-ran in the music streaming market struck a bum note with investors by announcing plans to delist from London.

The shares slumped by 56 per cenr to 0.375p.

One to watch out for next week is Ondine Biomedical, a Vancouver, Canada-based life sciences group that specialises in tackling drug-resistant infections. 

The story is particularly newsy given its work using a process called photo-disinfection on Covid-19. 

It is expected to be admitted to AIM on 6 December with a market capitalisation of £195m and looks set to raise £22million. Arden Partners will be the nominated advisor and broker.

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