Power Metal Resources shares are trading near the lowest levels since the beginning of the pandemic after a disappointing run in the stock.

Power Metal Resources is a highly diversified minerals exploration vehicle with exposure to nickel, lithium, tungsten, uranium, gold, and PGEs.

There is a lot for junior mining investors to get excited about. For example, Power Metals have just begun lithium exploration activities in North America and directors have been buying shares recently.

Unfortunately, since the new CEO Sean Wade took the reins in March the Power Metal Resources share price is down circa 25%. The 1p mark is now only obtainable by a 50% rally. 

The drop may be symptomatic of a challenging macro environment but a recent trip to the US by the POW team has failed to materialise in any noticeable buying pressure.

This will be a major disappointment for long-term holders of the stock – but it may well be just the opportunity those sitting patiently on the sidelines have been waiting for.

With a market cap of just £14m, there is strong evidence for the argument Power Metal Resources is undervalued. Not enough is written about the strength of the Power Metal Resources portfolio.

Former CEO Paul Johnson was a staunch believer that the junior natural exploration sector could explode higher with an improvement in sentiment. This is supported by historical price action in junior explorers.

However, the question still remains for Power Metals Resources – how low will the POW share price go before turning a corner?

The FTSE 100 sank again on Friday as US bond yields soared and a major Chinese real estate company filed for bankruptcy.

Anyone waiting for lower prices to start buying may soon take a genuine interest in London’s Bluechips.

The FTSE 100 was trading down 0.8% to 7,248 at the time of writing on Friday and is now down 4% year-to-date.

“Whether it’s the brewing crisis in the Chinese property market, the surge in US bond yields on fears rates will stay higher for longer, or the big drop in UK retail sales, things are starting to look a bit ugly out there,” said AJ Bell investment director Russ Mould.

“News China real estate giant Evergrande has filed for bankruptcy protection in the US would have prompted some alarm in isolation, but when you combine it with its peer Country Garden’s decision to suspend payments on some of its bonds and the words ‘dominos’ and ‘falling’ start to come to mind.

“China-exposed stocks on the FTSE 100 like Prudential and the miners are taking heat on Friday morning, helping to put the index on course for yet another down day. The FTSE is currently demonstrating all the pep and get up and go of a teenager at 8am on a school day.”

The selling wasn’t extreme, but it was broad, with 90 of the FTSE 100’s constituents trading negatively shortly after midday on Friday.

Miners such as Antofagasta – down 3% – were weaker but not catastrophically. The Chinese property crisis isn’t anything new, and the sector has been ins steady decline for a couple of weeks.

Airtel Africa was the biggest faller giving up 3%.

Defensive names, including British American Tobacco, National Grid and Imperial Brands, provided minor support, but the gains were nothing to write home about.

Plant Health Care announced on Friday its new biochemical fungicide PHC279 has been approved for use on sugar cane and coffee crops in Brazil, the world’s largest producer of both. PHC279 stimulates the plant’s natural defenses to control diseases like orange rust and coffee leaf rust.

The environmentally friendly fungicide is expected to be widely adopted by Brazilian farmers who spent over $46 million controlling sugar cane diseases and $127 million on coffee diseases in 2021/22. PHC279 was submitted for approval in December and received swift regulatory approval from three Brazilian agencies in under a year.

PHC279 originates from Plant Health Care’s natural protein technology platform PREtec. The company continues to scale globally, growing relationships with major distribution partners. Plant Health Care is on track to achieve $30 million revenue by 2025 through new product launches and organic business growth.

‟Building on the success of Saori use in soybeans and the continued growth of H2Copla use in sugar cane, this new registration will bring the benefits of PHC279 to sugar cane and coffee growers and expand Plant Health Care’s current business in Brazil,” said Jeff Tweedy, CEO of Plant Health Care.

“This product will help Brazilian farmers sustainably produce crops and supports the Company’s vision to be a leading global provider of peptides for agricultural production.”

Everyman Media Group PLC reported a 6% drop in revenue to £38.3 million in the first half of 2023, compared to £40.7 million in the first half of 2022. EBITDA also fell 23% to £5.8 million from £7.5 million.

The decline was attributed to major film releases being delayed until the second half of the year. Revenue and profitability are expected to improve in the second half with major titles like Dune: Part Two, Wonka, The Hunger Games: The Ballad of Songbirds & Snakes slated for release.

However, recent box office hits Barbie and Oppenheimer released in late July delivered record admissions and £10.6 million in revenue for the month.

These are encouraging numbers for the company that demonstrate to investors cinemas can still pull in crowds. Everyman remains confident full-year results will meet market expectations.

The cinema chain expanded to 41 locations in the first half, with new venues opened in Northallerton, Plymouth and Salisbury. A 42nd cinema is slated to open in Marlow in October.

“Everyman remains an affordable and popular choice for consumers. The record week of admissions we saw in July demonstrates both the value of original content, and the fact that cinema remains as relevant as ever. Alongside this, we continue to see increasing demand for our high-quality food and beverage offering. The all-encompassing Everyman experience leaves us very well placed to satisfy consumer demand for premium entertainment,” said Alex Scrimgeour, Chief Executive Officer of Everyman Media Group

“None of what we do would be possible without the incredible Everyman team both in our venues and head office. I would like to take this opportunity to thank them all for their hard work and willingness to go that extra mile for our customers. We have added three carefully selected new venues to our estate and we look forward to building on the significant momentum we have seen in July and August.”