Ariana Resources* (AAU LN) – Renewal of Ivrindi operating licence | Jangada Mines (JAN LN) – Drilling results from the Pitomberias vanadium property | Mkango Resources* (MKA LN) – BBC highlights HyProMag investment in rare earth recycling | Scotgold Resources* (SGZ LN) – Restart of development works at Cononish
Companies: AAU JAN MKA SGZ
Amur Minerals* (AMC LN) – EGM notice | Highland Gold (HGM LN) – Kayen exploration license sold for $15m and 2% royalty | Keras Resources* (KRS LN) - Global manganese ore output falls 22% in April | Mkango Resources* (MKA LN) – COVID-19 medical equipment donated to main Malawi hospital | Rambler Metals* (RMM LN) – US$1m bridging loan
Companies: AMC HGM KRS MKA RMM
Amur Minerals* (AMC LN) – Kun Manie copper concentrate production | Beowulf Mining* (BEM LN) - Madjan Peak Shows Epithermal Gold Potential in Northern Kosovo | Mkango Resources* (MKA LN) – Q1 Results highlight progress towards feasibility study | Rambler Metals* (RMM LN) – Appointment of new CEO | Savannah Resources* (SAV LN) – Mina do Barroso EIA submission | Strategic Minerals* (SML LN) – Award of US$21.9m by arbitrator
Companies: AMC BEM MKA RMM SAV SML
Anglo Asian Mining* (AAZ LN) – Earnings update: riding surging gold prices | Condor Gold* (CNR LN) – Raises £6.6m in oversubscribed placing | Kodal Minerals* (KOD LN) –– Kodal awaits approval to start mining | Mkango Resources* (MKA LN) –– Rare earth magnet recycling
Companies: AAZ CNR KOD MKA
Altus Strategies* (ALS LN) – Positioned for growth in FY20 | BHP (BHP LN) - Pledges another A$3m to fight coronavirus | Kavango Resources (KAV LN ) - Review highlights Kalahari Suture Zone similarities with other major nickel regions | Mkango Resources* (MKA LN) – Results highlight progress towards feasibility study | Caledonia Mining* (CMCL LN) – Quarterly dividend | Condor Gold* (CNR LN) – Permit awarded for Mestiza pit | Scotgold Resources* (SGZ LN) BUY Target 119p – Loan facility terms changes | SolGold* (SOLG LN) – Phase 2 metallurgical testing shows enhanced gold recoveries and improved concentrate quality | Tertiary Minerals* TYM –– Issue of shares to Precious Metal Capital Group
Companies: ALS BHP KAV MKA CMCL CNR SGZ SOLG TYM
Aura Energy* - (AURA LN) – Issue of shares | Altus Strategies* (ALS LN) – Tabakorole geophysical survey identifies new targets | Caledonia Mining* (CMCL LN) – AGM Procedures | Chaarat Gold* (CGH LN) - BUY – Completion of a $13.8m placing | Empire Metals* (EEE LN) (formerly Georgian Mining GEO LN) – Acquisition of control in Australian Palladium Deposit | Mkango Resources* (MKA LN) - COVID-19 safety measures for Malawi | Scotgold Resources* (SGZ LN) BUY – 119p – Earnings update: delivering gold at Cononish | Serabi Gold* (SRB LN) –– Appointment of non-executive director | Vast Resources* (VAST LN) – Baita Plai parts and equipment shipment update
Companies: AEE ALS CMCL CGH GEO MKA SGZ SRB VAST
Arkle Resources* (ARK LN) – EGM arrangements | Mkango Resources* (MKA LN) – Measures to mitigate Covid19 | Savannah Resources* (SAV LN) – Covid19 precautions | Vast Resources* (VAST LN) – New shares issued in regards of the Atlas bond interest
Companies: ARK MKA SAV VAST
Altus Strategies* (ALS LN) – Flash note: Momentum builds as new JVs signed, strategic investment secured | Anglo Asian Mining* (AAZ LN) – Debt free status reached | Chaarat Gold* (CGH LN) – FY19 operational and financial results due next week | Mali Lithium (MLL AU) – new presentation highlights benefits of the Goulamina project | Kodal Minerals* (KOD LN) – | Mkango Resources* (MKA LN) – Sample results from Thambani | Phoenix Copper* (PXC LN) – Empire mine environmental studies | Power Metal Resources (POW LN) – Kisinka exploration programme | SolGold* (SOLG LN) – Timbara exploration results
Companies: ALS AAZ CGH KOD MKA POW SOLG
Condor Gold* (CNR LN) – Condor appoints SP Angel as sole broker as company moves towards production and development of a potential 5moz gold district | Mkango Resources* (MKA LN) – Mkango completes acquisition of 25% stake in Hypromag Rare Earth recycling
Companies: Condor Gold Plc Mkango Resources Ltd.
Altus Strategies* (ALS LN) – Acquisition of Lakanfla NSR | Aura Energy* (AURA LN) – EGM result | Landore Resources (LND LN) – BAM gold project resources update | Mkango Resources* (MKA LN) – Interim CFO
Companies: ALS AEE LND MKA
The Global Sustainable Farmland Income Trust will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m. Due 28 February
Companies: BVC CCS CARR SDX TEK IDEA TPG MKA RRR
Arc Minerals* (ARCM LN) – Arc Minerals acquires an additional 5% of Zaco | Centamin (CEY LN) – Advises rejection of unsolicited proposal from Endeavour Mining | Continental Gold (CNL CN) – Recommended offer from Zijin Mining | KEFI Minerals* (KEFI LN) – Drilling at Hawiah returns high grade copper intersections | Mkango Resources* (MKA LN) – Q3 Results and update
Companies: ARCM CEY CNL KEFI MKA
Amur Minerals* (AMC LN) – Russian TEO study update | Caledonia Mining (CMCL LN) – Non-executive director appointment | First Quantum Minerals (FQML CN) – Takeover speculation | Greatland Gold (GGP LN) – Drilling results from the Black Hills project | KEFI Minerals* (KEFI LN) – Update | Mkango Resources* (MKA LN) – Investment proposal for rare-earth magnet recycling | Power Metal Resources (POW LN) – Power Metals highlights potential for nickel sulphide discoveries | Premier African Minerals* (PREM LN) – Interim Chairman steps aside | Strategic Minerals* (SML LN) – Cobre Arbitration
Companies: AMC CMCL GGP FM KEFI MKA POW PREM SML
Research Tree provides access to ongoing research coverage, media content and regulatory news on Mkango Resources Ltd..
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Jersey Oil & Gas has announced that it has selected a greenfield four-legged platform to develop the Greater Buchan Area which will utilise existing export pipeline infrastructure. We see near-term scope to increase materially our fair value estimate from 268p. We believe that today's news is price material and that it sets the scene for a near-term catalyst rich outlook for the company. It is an opportune time, in our opinion, to gain exposure to the Jersey Oil & Gas investment opportunity.
Companies: Jersey Oil & Gas Plc
In H1, 2020 and the period directly following (Q3, 2020), EQTEC has made substantial operational progress, significantly boosting its project pipeline and strengthening its balance sheet with an over-subscribed £10m fund raising in July 2020. Revenue generation in H1, 2020, however, was constrained due to the impacts of Covid-19 and severe fires in California. We now forecast revenue of €2.4m in 2020E, compared with our previous forecast of €7.0m. Importantly, no projects have been cancelled. Delayed revenue is expected to flow into 2021E. Select new projects, having been secured in 2020, are expected to reach financial close in 2021E and 2022E, in addition to those existing projects under development in those years. As a result, we are increasing our 2021E and 2022E forecasts.
Companies: EQTEC Plc
H1 2020 results; progress on concept selection
Central Asia Metals (CAML LN) reported robust interim results in the context of the H1 2020 backdrop; solid production and the company’s fundamentally low cost base meant that CAML remained profitable despite the sharp pullback in commodity prices during the period which led to a 17% YoY decline in revenue to US$70.8m. Consequently, EBITDA was down 25% YoY to US$42.5m despite a decline in unit costs of 6% YoY at Kounrad and 9% YoY at Sasa to US$0.48/lb and US$0.43/lb respectively which cushioned the impact of the weaker the top line. With no significant one offs in the period, EPS of US$0.10/sh. was 33% lower YoY.
Companies: Central Asia Metals Plc
Talitha Shelf Margin Deltaic LKA resource report
Companies: Pantheon Resources Plc
The stock was up 12% on Friday, 25/09, sparked by the positive outcome on Vodafone’s dispute with the Indian tax authorities. This is encouraging for Cairn, but note that both cases differ. While the tax authorities simply erased Vodafone’s tax bill, they owe up to $1.4bn to Cairn, and could offer more resistance.
Companies: Cairn Energy Plc
Another set of record results from Iofina, with H1 2020 benefiting from improved iodine pricing, solid cost controls and robust operational performance. Some of the shine will be taken off by the cautionary tone over the impact of COVID-19 on current iodine demand and pricing. Nevertheless, these results on top of the recent debt refinancing again demonstrate the continued improvements Iofina is delivering both operational and financially. It now has a solid platform of diversified low cost iodine production from five plants, a range of iodine and non-iodine specialty chemicals products, an improved balance sheet and a new lending partner with which to deliver its ‘prudent growth’ ambition.
Companies: Iofina Plc
H1/20 has been a highly successful period for United Oil & Gas, during which time it has successfully transformed into a full-cycle E&P company. Key to this success has been the Abu Sennan acquisition, with net production increasing to 2,700boepd at the end of June. The significant production and reserve additions delivered as part of the 2019-20 drilling campaign emphasises the considerable upside that still remains in the block. Post period, United were granted a 100% operated working interest and an 18-month extension to the Walton-Morant licence, offshore Jamaica. At 229mmbbls, the Walton-Morant licence has the potential to have a major impact on United, which we value at US$724.3m or 76.8p/share unrisked. We update our valuation, increasing our price target to 19.1p/share, a 549% premium to the current share price and reiterate our BUY recommendation.
Companies: United Oil & Gas Plc
EQTEC announced (last Friday afternoon) an extension of the exclusivity period of the Billingham MOU until 22 November 2020. The extension of the MOU exclusivity period is with the aim of finishing the preparation of a legally binding option agreement with Scot Bros. which, if agreed, will grant EQTEC and its partners the right, but not the obligation, to purchase the entire issued share capital of Billingham EFW Limited (the project SPV) from Scott Bros. subject to an agreement on consideration and other terms.
West Newton B-1 drilling update
Companies: Union Jack Oil Plc
Chariot’s interims represent something of a line in the sand for the new management team, with historic oil-focussed deepwater exploration spend written-off, demonstrating its recent corporate and strategic ‘reboot’, which has ushered in a more entrepreneurial approach. Strategy has shifted away from higher-risk frontier exploration in favour of opportunities that better fit the energy transition. With the annual cash burn cut 45% to US$2.5m, no remaining work commitments and period-end cash of US$5.8m, management has a clear path ahead to deliver on its ambitions.
Companies: Chariot Oil & Gas Ltd.
Adriatic Metals* (ADT1 LN) – Annual results and review of exploration | AfriTin (ATM LN) –– H1 report highlights production ramp-up at the Uis mine | Ariana Resources* (AAU LN) – US$30m partial disposal of Turkish Assets | Anglo Asian Mining* (AAZ LN) – BUY – Gedabek continue unaffected by the Nagorno-Karabakh conflict | Cornish Lithium (Private) - Cornish Lithium looking to bring the EV supply chain closer to home | IronRidge Resources* (IRR LN) – FY20 results: well positioned to continue de-risking portfolio projects with A$7.3m in the bank | Kavango Resources (KAV LN) – Resuming field exploration of the Kalahari Copper Belt, Botswana | Power Metal Resources (POW LN) – Exploration gets underway on Botswana joint-venture | Rambler Metals and Mining* (RMM LN) – Interims and refinancing of debt and planned restoration of mine production at higher copper grade | Renascor Resources (RNU AU) – Offtake agreement with Chinese anode manufacturer highlights China’s dominance of supply chain | Trans-Siberian Gold (TSG LN) – 8c interim dividend declared reflecting robust FCF and strong outlook | Versarien* (VRS LN) – New Advisory Panel brings together global leaders in graphene within Versarien
Companies: ADT1 ATM AAU AAZ IRR KAV POW RMM RNU TSG VRS
Hargreaves’ FY20 results are very solid indeed. As previously reported, the only noticeable impact from COVID was in the slippage of Blindwells’ land sales, which were due to conclude during the lockdown period. Site activity has resumed and sales remain on track to conclude in the current year. A final dividend of 4.5p has been declared and the outlook statement is measured but confident. We reintroduce forecasts today, effectively reinstating our pre-COVID expectations. Hargreaves is well positioned to deliver a period of significant, renewed growth with the prospect of a double digit dividend yield from FY22 as HRMS profits are distributed.
Companies: Hargreaves Services Plc
Ready to steppe it up – initiating coverage
Companies: Enwell Energy Plc
Three day CMD to detail how BP will redeploy hydrocarbons’ capital into renewables. The latter are expected to grow by 12% CAGR by 2030, which surely is more exciting than oil. Returns do not compare though, but BP intends to make good use of its trading division to bridge part of the gap. Lowering the dividend took care of the rest. Overall, BP diversifies its risks early, which might prove right if oil stays under $50.
Companies: BP Plc