Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. ITM to enter US market
ITM Power LON:ITM has this morning announced that it will start bidding for US projects. The company will pursue an accelerated, asset-light entry into the US market, building on relationships with North America based industry leaders, some of which have recently been announced as collaborations to cement the company’s technology leadership and future proof supply chains. The note adds that the US is widely recognised as having the potential to become one of the largest markets for electrolysers.
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#2. Anglo Asian Mining update on operational disruption
Anglo Asian Mining LON:AAZ has issued a Q3 update, flagging the issues caused off the back of an environmental inspection by regulators. That has seen part of the metals processing suspended for the entire quarter and this will have a significant impact on the full year production stats, too. Whilst the inspection found no evidence of environmental contamination, a series of improvements were highlighted, which are now being rectified. Cash is down to $1.6m but the company is well placed with $7m worth of metals inventory which can be used to support operational needs.
#3. Helium One drilling recommences following component failure
Helium One LON:HE1 has a note out highlighting that drilling has restarted at its Tai-3 well following a component failure on the rig at the start of the month. The business see the rapid response time here as underlying their collective agility, whilst the drill site was left fully functional to enable operations to restart as soon as possible. A further statement is expected once target drilling depth is achieved.
