OTC Stocks To Watch: ATVVF, PENMF, SPHRY, JSAIY, HCHDF
The OTC Markets is a vibrant marketplace that attracts plenty of investors on a daily basis, and there are many gems that are discovered every day. However, research is paramount for long-term success. Here is a look at five OTC Markets stocks that you may consider tracking currently.
Australian Vanadium Limited (OTC: ATVVF) This morning, Australian Vanadium Limited announced that it had appointed the services of Primero Group Limited for the construction of its vanadium electrolyte manufacturing plant located in Western Australia. The company noted that the majority of the long-lead items had also been received.
Additionally, Australian Vanadium also noted that it had appointed Simon Rough, an operations professional with considerable experience, to oversee the plant through the construction process and eventually into production. The company stated that Rough possessed significant experience in vanadium processing as well as sulfuric acid production. That made him the perfect candidate for the role.
The Chief Executive Officer of the company, Graham Arvidson, commented on the latest developments as well. He noted that it was satisfying to see that the team involved with the project had been able to make significant progress and that the plant was taking shape. He went on to note that Australian Vanadium was aiming to become the supplier of choice for vanadium electrolytes in Australia and abroad. He also said that the company was happy to have Rough as the manager of the project.
Peninsula Energy Limited (OTC: PENMF) On August 14, Peninsula Energy Limited made a joint statement with Strata Energy Inc., its fully owned subsidiary. The joint announcement was pertaining to the achievement of a key wellfield development milestone that had been hit at Lance Projects, the company’s flagship project located in Wyoming. Peninsula Energy announced that it had been successful in completing the drilling activities as well as the installation of the baseline water quality wells and monitoring for the purpose of future production at Mine Unit 3.
The monitoring well network’s completion would allow the company to start the drilling program that had been in the works. The drilling program would aim to upgrade a part of the residual Inferred Resource in the Kendrick Production Area at the project. The Managing Director and Chief Executive Officer of the company, Wayne Heili, noted that the company continued to achieve significant milestones in order to bring Lance Projects into production.
Starpharma Holdings Ltd. (OTC: SPHRY) This morning, Starpharma Holdings Ltd. announced that it reached a commercial settlement agreement with regards to the VivaGel BV product with Mundipharma. It is a non-antibiotic, unique vaginal gel developed in Australia for the treatment and prevention of bacterial vaginosis. As per the terms of the settlement, Starpharma would get a cash payment of $4.5 million from Mundipharma.
Additionally, the company would terminate its license for the product and the supply agreements it had in place with Mundipharma. That would help Starpharma get back all the commercial rights pertaining to VivaGel BV and sign marketing agreements for it. In the news release, it was noted that the company was in a good position to sign commercial agreements for the product with healthcare companies and that there had been commercial interest in the product already. The product is registered in more than 50 nations. The latest development came about after it was announced recently that Mundipharma had sold its consumer health product portfolio to iNOVA Pharmaceuticals.
J Sainsbury Plc (OTC: JSAIY) On August 11, J Sainsbury Plc announced that it had reached an agreement to sell off its mortgage portfolio for £464 million in cash to The Co-Operative Bank PLC. The money would be payable to the company following the completion of the transaction. As of April 29, 2023, the gross asset value of the mortgage book of the company was £479 million.
In September 2019, Sainsbury’s Bank announced that it was going to cease all fresh mortgage sales and had been exploring options for the mortgage book that it had. It is expected that the deal will be completed concurrently with the transfer of beneficial ownership on August 15. However, the legal title transfer would take place in 12 months.
Hochschild Mining PLC (OTC: HCHDF) On August 2, Hochschild Mining PLC announced that it had received regulatory approval pertaining to the Modified Environment Impact Assessment (MEIA) for the company’s Immaculada operation in southwest Peru. The approval had been provided by the National Service of Environmental Certification for Sustainable Investments (SENACE) of Peru.
The company announced that MEIA was a major new milestone for the company since it would open up the path for its flagship property to generate considerable added value for its shareholders over the next twenty years. Hochschild Mining announced that it would work on the implementation of its growth strategy following the regulatory milestone.
