Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Scotgold Resources. We currently have 55 research reports from 4 professional analysts.
Aura Energy* (AURA LN) – Swedish compensation claim to be handled by Chancellor of Justice in Sweden | Cora Gold* (CORA LN) – Sanankoro scoping study delivers attractive economics | Scotgold Resources* (SGZ LN) – Exploration update | Shanta Gold (SHG LN) – Robust Q4 results conclude strong FY19 year | Phoenix Copper* (PXC LN) – Ryan McDermott moves into CEO role as company heads towards production from Red Star project.
Companies: AURA CORA SGZ SHG PXC
Pure Gold Mining (PUR LN) 42pence & Mkt Cap £151.8m – Drilling results from Madsden Red Lake | Sunrise Resources Plc (SRES LN) 0.13 pence, Mkt Cap £4.0m – CS Project secures water rights | Scotgold Resources* (SGZ LN) 63p, Mkt Cap £31m – Plant commissioning delayed to May/20 | Shanta Gold (SHG LN) 9.3p, Mkt Cap £73m – Exploration drilling returns high grade intersections at New Luika | Vast Resources* (VAST LN) 0.29p, Mkt Cap £30m – Baita Plai cold commissioning | Sirius (SXX LN) - Ding dong Sirius share are high – A Christmas Carol
Companies: PUR SRES SGZ SHG VAST SXX
Arkle Resources* (ARK LN) – Considering options for Stonepark | Condor Gold (CNR LN) – Metallurgical test results confirm PFS findings | KEFI Minerals* (KEFI LN) – Tulu Kapi development update | Kodal Minerals* (KOD LN) – Approval of ESIA for Bougouni project | Ormonde Mining* (ORM LN) – Initial concentrate sales from Barruecopardo | Rainbow Rare Earths (RBW LN) – Drill results at Kiyenzi show hi-grade Rare Earth Oxides in significant intersections | Scotgold Resources* (SGZ LN) – Clarification on the exploration programme | SolGold* (SOLG LN) – BHP to invest $22m into SolGold
Companies: ARK CNR KEFI KOD ORM RBW SGZ SOLG
Amur Minerals* (AMC LN) – Hydrological study update | Base Resources (BSE LN) – Presentation to TZMI Congress highlights transition at Kwale in Kenya | Bluejay Mining* (JAY LN) – Appointment of exploration manager | KEFI Minerals* (KEFI LN) – Encouraging drilling results at Hawiah | Orosur Mining* (OMI LN) – Sale of Uruguay assets | Renascor Resources* (RNU AU) – Renascor Siviour Graphite Project DFS demonstrates value | Scotgold Resources* (SGZ LN) BUY – Target Price 88p – Annual results
Companies: AMC BSE JAY KEFI OMI SGZ
Greatland Gold (GGP LN) – Drilling results from the Havieron project | Scotgold Resources* (SGZ LN) BUY – Target Price 88p (up from 84p) – Grampian permit area update | Talga Resources* (TLG AU) – Graphene joint development agreement | TNG Limited (TNG AU) – Proposed London listing | Vast Resources* (VAST LN) - $15m funding agreed
Companies: GGP SGZ TLG TNG VAST
Scotgold Resources is an AIM listed gold development company with the wholly owned flagship high grade Cononish gold project in Scotland. The deposit hosts 198koz gold at 11.1g/t in mineral reserves and 266koz gold at 13.4g/t in total mineral resources, based on the latest BFS (Feb/17). Located in an environmentally sensitive region of the Loch Lomond and Trossachs National Park, the team has established a good working relationship with the Park Board, adjusting project parametersto the status of the area including no use of cyanide in the on-site processing of mined ores, opting instead to use gravity separation and flotation, as well as dry stack tailings storage designed to replicate the glacial landscape of the area. The Park Board unanimously voted in favour of granting the mining permit with development works launched in Dec/18 with first gold targeted by Q1/20.
Companies: Scotgold Resources
Bushveld Minerals* (BMN LN) – Vanchem competition commission approval | Horizonte Minerals (HZM LN) - US$25m royalty funding for Araguaia | Mkango Resources* (MKA LN) – Q2 results | Scotgold Resources* (SGZ LN) – Fundraising, Cononish project and exploration update | W Resources (WRES LN) –La Parilla concentrator moves into commissioning phase
Companies: bmn HZM MKA SGZ WRES
Altus Strategies* (ALS LN) – Gold discovery on the Zager licence | Atalaya Mining (ATYM LN) – Q2 production helps maintain 2019 production guidance | Europa Metals Limited (EUZ LN) – Drilling results from Toral zinc, lead, silver project in Spain | Gem Diamonds (GEMD LN) – Letseng achieves 10% higher prices in H1 2019 | Keras Resources* (KRS LN) – BUY, Valuation rises to 1.08p – Calidus raises A$9m from investors in Australia to fund drilling and DFS | Scotgold Resources* (SGZ LN) – Appointment of director | Tirupati Graphite (private) – Operations update | Thor Mining (THR LN) – Thor confirms it has sufficient funds to meet commitments over next six months
Companies: ALS ATYM EUZ GEMD KRS SGZ THR
Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year. Freyherr International Group PLC the Medicinal Cannabis holding company established in 2016, is planning to list on the NEX exchange on the 30th July
Companies: SIM EYE FOX SDI KETL AEO YNGA SGZ OCI KDR
Ariana Resources (AAU LN) – Permits received for Salinbas copper, gold porphyry project in Turkey | Edenville Energy* (EDL LN) – Rukwa Coal project update | Savannah Resources* (SAV LN) – European Battery Cell Consortium investing €6bn across electric car battery industry | Scotgold Resources* (SGZ LN) BUY – Target price 57p – An acquisition of Nat le Roux options | Strategic Minerals* (SML LN) – Financials show ground work for substantial new development
Companies: AAU EDL SAV SGZ SML
Anglo Asian Mining* (AAZ LN) BUY – Target Price 96p – Airborne geophysics update | Bacanora Lithium (BCN LN) – Corporate update | Beowulf Mining* (BEM LN) – Subscription to raise £750,000 and further investment in Kosovan exploration | Churchill Mining (CHL LN) suspended – Intention to appoint Administrators filed | Condor Gold (CNR LN) – Metallurgical test results from La India samples | Edenville Energy* (EDL LN) – Corporate update | Orosur Mining (OMI LN) – Orosur and Newmont press ahead with exploration review around Anzá in Colombia SP Angel appointed as Nomad and broker to Orosur | Rio Tinto (RIO LN) – Cyclone Veronica hits iron ore guidance | Scotgold Resources* (SGZ LN) BUY – Target Price 57p – Exploration update | W Resources (WRES LN) – Drilling confirms wide high grade mineralisation at Regua
Companies: AAZ BCN BEM CHL CNR EDL OMI RIO SGZ WRES
Amur Minerals* (AMC LN) – Convertible loan update | Arkle Resources* PLC (ARK LN) – Name change to Arkle Resources PLC Formerly Connemara Mining* (CON LN) | Cora Gold* (CORA LN) – Sanankoro development roadmap | Mkango Resources* (MKA LN) – Talaxis investment condition met with release of Technical Report | Scotgold Resources* (SGZ LN) BUY – Target Price 57p – Interims
Companies: AMC ARK CORA MKA SGZ
Amur Minerals* (AMC LN) – Kun Manie PFS estimates NPV10% at $615-987m and IRR of 29-35% for two production scenarios | Barrick Gold (GOLD US) – Barrick offer for Newmont may fail on Antitrust issues as did Goldfields vs Mincorco | Newmont Mining (NEM US) | Cora Gold* (CORA LN) – Zone A drilling results return wide higher grade intersections | Element 25 (E25 AU) – PFS metallurgical drilling update | Herencia Resources (HER LN) Suspended – Death spiral facility looks likely to cause delisting | Ormonde Mining* (ORM LN) – Progress report on Barruecopardo commissioning | Premium African Minerals (PREM LN) – Zulu lithium drilling programme | Scotgold* (SGZ LN) – Start of productio at Cononish guided for Q4/CY19
Companies: AMC NEM CORA HER ORM PREM SGZ
Gem Diamonds (GEMD LN) – Letseng mine recovers two more large diamonds | Golden Star Resources (GSC CN) – Drilling results extend Wassa underground mineralisation | Petropavlovsk (POG) – Update on IRC debt refinancing | Scotgold Resources* (SGZ LN) BUY, Target Price 58p – Development starts today at the Cononish Gold mine in Scotland | Solgold* (SOLG LN) – Newcrest increases holding in SolGold to 15.23% from 13.83% | Talga Resources * (TLG AU) – vanadium prospect identified in Talga permits
Companies: GEMD GSC POG SGZ SOLG TLG
Anglo American (AAL LN) – Q3 copper output rises 17% | Anglo Asian Mining* (AAZ LN) BUY – 84p – Sterling rate for the maiden dividend | Arc Minerals* (ARCM LN) STRONG BUY – Drilling shows higher copper grades over good intersections from surface | Bushveld Minerals* (BMN LN) BUY - Target Price 37p – Vanadium prices jump 17% in China to US$120-140/kgV | Keras Resources (KRS LN) BUY, Target 1.04p - 0.36p, Mkt Cap £8.1m - Calidus sell non-core gold rights to Paxton | Scotgold Resources* (SGZ LN) BUY, Target Price 58p – Start of development works draws closer as Decision Notice is secured
Companies: AAL AAZ ARCM bmn KRS SGZ
Research Tree provides access to ongoing research coverage, media content and regulatory news on Scotgold Resources. We currently have 55 research reports from 4 professional analysts.
Sylvania's share price has fallen 53% since its peaked on the 21st Feb, as the global economy hit the brakes. The short term demand outlook for PGMs is miserable, with supply chains breaking down as both luxury goods and car sales sales collapse.
Companies: Sylvania Platinum
Oil declined for a fifth straight week amid a one-two punch from collapsing demand due to the coronavirus crisis and ballooning supply from producers vying for market share. Futures in New York slumped 4.8% on Friday and are poised for the biggest quarterly drop on record as weak demand and an onslaught of supply roil markets. Refineries across the globe are curbing consumption as fuel use declines with people staying home. Meanwhile, major trader Trafigura Group expects as much as 1 billion barrels to be sent into storage tanks. More oil is headed into stockpiles as the Russia-Saudi war for market share that exacerbated crude's crash this month shows no sign of abating. The kingdom held firm on Friday, saying it hasn't had any contacts with Moscow about output cuts or on enlarging the OPEC+ alliance of producers. Russia also doubled down, with Deputy Energy Minister Pavel Sorokin saying oil at $25 a barrel is unpleasant, but not a catastrophe for Moscow. US crude has tumbled about 65% so far this quarter. The crash has crippled domestic producers who are forced to cut production for the first time in 35 years. The International Energy Agency this week warned that global demand was in “free fall” amid coronavirus lockdowns. Meanwhile, Iraq -- OPEC's second-biggest producer -- will allow national oil companies to boost their output and export without imposing any ceiling. Algeria has asked for an emergency OPEC board meeting to discuss the cuts. It comes as one of the world's largest supertanker owners said that ships are being filled with crude at a record pace, as land storage rapidly diminishes. Prices: West Texas Intermediate fell $1.09 to settle at $21.51 a barrel in New York on Friday. Prices dropped 4.1% this week. Brent crude lost $1.41 to settle at $24.93 a barrel. Swaps markets show that physical crude is selling several dollars below benchmark prices. The signs of storage starting to fill are growing, too. Inland tanks for heating oil in Germany are now full, while Pakistan banned oil imports on Thursday because its stockpiles are now sufficiently built up. Rigzone.
Companies: FOG PVR 88E DGOC EME POS TRIN UOG
Shearwater sells resilience and today's trading update shows us how resilient demand has been for its products and services. The Group has swung to EBITDA profitability and cash flow is well ahead of expectations. The macro themes of cyber security and remote working are supportive of robust demand levels going forward. We are maintaining our forecasts. Buy.
Companies: Shearwater Group
Strategic Production Acquisition and TSX Listing i3 Energy announced today that is has entered an option agreement to acquire all of the outstanding shares of TSX listed Toscana Energy Income Corporation. Toscana produced on average 1,065 boe/d in 2019 and has 2P reserves of 4.65 mmboe of which 55% consists of oil (and natural gas liquids) and 45% consists of natural gas. Toscana's low-decline production is located in Western Canada. Toscana's lands include a very large holding over one of Western Canada's leading new oil plays targeting the Clearwater formation. i3 Energy has acquired the entirety of Toscana's $C28.2M of senior and junior secured debt for $C3.4M representing a price of $C0.12 per dollar of outstanding debt. i3 is now Toscana's secured lender. The debt purchase was funded with i3 Energy's existing cash resources. i3 Energy has agreed to issue up to 4,399,224 of its shares, representing circa 4% of i3 Energy's existing share capital to acquire the entirety of Toscana's shares, representing a market value of circa $C0.55M based on the market values of 27 March 2020. We believe the announcement represents a positive and transformational change for i3 Energy.
Companies: I3 Energy
Caledonia today announces that it has taken the prudent decision to defer its approval for the payment of the second quarterly dividend (7.5c/sh - $0.9m - 7% of declared Caledonia cash). The Blanket mine in Zimbabwe remains in operation (at a slightly reduced capacity to secure Covid-19 social distancing) and the mine site remains well-stocked with supplies, so despite the current difficulties getting supplies from South Africa production at the mine can continue for some time to come; 2-3 months in our opinion, if the supply chain from South Africa ceased altogether. Touchstar is a supplier of mobile data computing solutions and managed services to a variety of industrial sectors. This morning, the group has released an update in light of COVID-19. The Board reports that it has taken swift action to re-engineer processes to adhere to government guidelines, whilst maintaining client service levels. Q1 2020 trading is reported to have been ‘broadly' in line, with revenue growth of 40% from continuing operations and outstanding orders to ship to customers in the coming months. Q1 was cash neutral, which follows on from the RNS on 5 February, of a net cash position of £849k as at 31 December 2019.
Companies: Caledonia Mining Corporation Plc Com Shs Npv Touchstar
We are reinstating coverage with a Buy rating and price target of 50p following the recent £15m share placing to fund production scale-up for micro-batteries. Our TP reflects a DCF of the micro-battery business which has sufficient customer interest to achieve over £12m annual sales by FY23 and £25m later this decade we believe, generating EBITDA of £1.7m and £7m respectively.
Much of the UK’s privatisation programme took place between the early 1980s and the mid-1990s: subsequent sales have been few. Undoubtedly, privatisation attracted many private investors to the market, many for the first time.
Companies: AVO AGY ARBB ARIX BUR CLIG DNL FLTA GDR NSF PCA PIN PXC PHP RE/ RECI RMDL STX SCE SIXH TRX SHED VTA
Caledonia today provides an update on its Blanket mine in Zimbabwe in the light of the full lockdown other than “for essential services” from today as ordered by President Mnangagwa. The mine is still operating as the authorities will grant exemptions for businesses which demonstrate they can operate in a manner that contributes to the management of the spread of Covid-19 infections. Caledonia has applied for this exemption.
Companies: Caledonia Mining Corporation Plc Com Shs Npv
Quadrise’s business development activity has intensified in the last nine months, with progress on opportunities in Morocco, South America, Saudi Arabia (KSA) and the marine sector. COVID-19 will potentially extend the length of time taken to complete trials. However, management notes that the current low oil prices are not likely to have a material impact on interest in using its innovative MSAR fuel as a heavy fuel oil substitute.
Companies: Quadrise Fuels International
Ironveld has signed a range of conditional financing agreements with Inclusive Investment Group (IIG) that mark a step change in its ability to advance its iron, vanadium and titanium project in the prolific Bushveld Complex of South Africa. The agreements will see IIG provide Ironveld with $3.2m in both debt and equity with IIG to take a stake of up to 46.8% in the company subject to certain shareholder approvals. This locks IIG in as a meaningful strategic partner and should allow Ironveld to progress Phase I of its project while it seeks the broader financing required to bring it in to development
Oil posted the biggest weekly plunge since 2008, capping its most dramatic week in recent memory as major producers prepare to drench the market with supply just as the coronavirus crushes demand. But prices jumped following the close, after President Donald Trump said the U.S. would fill the nation's strategic reserve. Losses for the week totalled 23% after the collapse of talks between members of the OPEC+ group triggered the biggest crash in a generation. Instead of reaching a deal to cut output to mitigate the fallout from the virus, producers led by Saudi Arabia and Russia embarked on a war for market share and pledged to pump more.
Companies: TGL TXP VLU EGY GTE CNE DGOC ENQ SQZ UKOG TRIN TLW PHAR
Diversified Gas & Oil is emerging as a new model for the E&P market, balancing low fixed costs with efficient operations to generate consistent cash flows. Since the Company's foundation, DGO's strategy has remained unchanged, delivering stable production, whilst maintaining capital discipline to deliver cash flows and shareholder returns. Efficient operations combined with low fixed costs means DGO can deliver strong margins at low prices - vital in the current environment. The DGO model does not follow that of its capital intensive North American “peers” and nor does it follow that of its international London listed “peers”, putting DGO in a league of its own. With many of the Permian oil producers and Appalachian gas producers cutting back on capex in the current price environment, we see a recovery in the gas prices, with the current oversupply of gas turning into an undersupply as production and stores fall away. We believe the M&A market will provide a great opportunity for DGO over the next 12-24 months, with inevitably some E&P's not being able to survive the current low price environment. We update our model incorporating the extension of the Company's asset retirement agreement with the state of Ohio, the latest forward price curves and the GBP/USD exchange rate, increasing our price target to 148p/share (from 121p/share) and our BUY recommendation.
Companies: Diversified Gas & Oil
Against the backdrop subdued commodity pricing, JKX has delivered another robust set of annual results. Yesterday’s FY19 figures show a 9.5% yoy increase in revenues, coming in at the upper end of guidance, and a 116% increase in PBT to US$30.4m. Operationally, FY19 was an active year for JKX, delivering material value accretive barrels to the company’s production base in the Ukraine, whilst declines in Russia at Well 20 have been largely offset by Wells 18 and 5. The Company’s shares currently trade at only 83% of annualised cash generated from operations, underlining its deep discount to NAV therefore offers compelling value to shareholders in our view.
Companies: JKX Oil And Gas