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Filo Corp. (“FIL”) has announced assay results from eight widely spaced holes, extending the mineralised trend to at least 5.5km from the Tamberias Zone in the southwest to Bonita in the northeast, where hole FSDH108 extend the footprint by an impressive 400m. The deposit remains open in multiple directions, including around the Bonita Zone which is showing signs of a larger than expected porphyry/breccia system, while hole FSDH106 has extended the high-grade Aurora zone establishing a minimum w
Companies: Filo Corp.
Hannam & Partners
Filo del Sol remains the cornerstone asset within the emerging Vicuña copper district, with a steady stream of positive assay results released so far in 2024. As drilling continues to show the scale and grade of the potential resource, we have revised our model to reflect a mega-pit development, removing the underground block cave from our conceptual mine plan. This drives a 34% increase in our risked valuation to C$47/sh, offering 93% upside. With 40,000m of drilling planned across nine drill r
Filo has released assay results from a further three holes into the high-grade Aurora zone at the Filo del Sol project in Argentina, including yet another intercept of over 1km at a grade of more than 1% copper-equivalent (CuEq). Hole FSDH086 was collared towards the edge of Filo’s drilling at Aurora, showing continuity of mineralisation towards the Bonita zone to the northwest. This hole also encountered 44m at 1.81% CuEq from a depth of 1,370m, interpreted to be a newly discovered phase of the
Companies: AURA FIL GAL PNRL BEM ATM ARK LUC IMP EEE
SP Angel
The Lundin Group hosted a webinar on 30th October highlighting the outstanding geological potential of the Vicuña District, which holds an emerging cluster of copper projects owned by three Lundin-affiliated companies: Filo Corp (“Filo”), Lundin Mining (“LM”) and NGEx Minerals (“NGEx”). The presentation highlighted even greater potential than the last Vicuña district webinar hosted two years ago, showing more high-grade discoveries, continued progress in securing key processing infrastructure in
Companies: AZS FME SYR FIL IRON AAL HUM JAY CUSN
Filo Corp. (“FIL”) has announced results from a further drill hole into the Aurora zone at its Filo del Sol project in Argentina, as well as assays from geotechnical drilling conducted to the east of the main Filo trend. The latest Aurora hole, FSDH084, is the second-best result to date at the project in terms of grade-metres, with 1.13% copper equivalent (“CuEq”) over 1,400m and ending in breccia mineralisation. The hole was collared in a ~160m gap between two previous holes; while a strong res
What you need to know: • The precious metals markets rebounded well in July following a healthy consolidation period in May and June. • M&A continued to be light in July, primarily due to the new uncertainty regarding interest rates following strong economic data and the BoC and the Fed raising rates. • Safe-haven assets like gold and silver continue to look highly attractive with mining equities trading close to trough multiples, creating buying opportunities for when investment dollars flow ba
Companies: TXG ETU OMG ARTG DPM EDG FIL PRB STGO TM TXG TXG OR
Atrium Research
Filo Corp. (“FIL”) has announced assay results from a further three holes at its Filo del Sol project in Argentina, showing continued growth in the core Aurora zone and a significant step-out at the emerging Bonita zone. With another kilometre-long intercept at a solid 0.57% copper equivalent (“CuEq”) grade, collared 260m northeast of previous drilling, hole FSDH083 again underlines the scale of the potential resource growth at Aurora alone, whilst closing the untested gap between Aurora and Bon
Filo Corp. (“FIL”) continues to define its deposit at the Filo del Sol project in Argentina, announcing two further assay results from the Aurora and Filo zones. FSDH072 was drilled into the Aurora zone from the west side of the Filo ridge, intersecting breccia mineralisation from ~500m depth and a series of porphyry sections which continued from 1,253m to 1,686m. Intersects included 822m @ 1.02% CuEq from 650m with a 330m subinterval @ 1.35% CuEq from 998m. FSDH080 was drilled in a 700m gap bet
Filo Mining (“FIL”) announced a C$130m private placement at a price of C$21.1/sh, upsized from C$100m. FIL’s largest shareholders, the Lundin Family and BHP, backstopped the raise, committing to invest C$70m and C$30m, respectively. Following this, the Lundin Family and BHP will hold up to 33% and 6% interests in FIL. The funds will be used for ongoing exploration at the world-class Filo del Sol copper project, part of the Vicuña cluster on Argentina/Chile border. Drill results last week added t
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Filo Mining’s 31% shareholder, the Lundin family, has strengthened its position within the Vicuña district following Lundin Mining’s acquisition of a majority stake in the Caserones mine from JX Nippon Mining & Metals, announced 27th March. Lundin Mining (TSX:LUN) is 14%-owned by the family and is part of the Lundin Group, which includes Filo and NGEX Minerals, amongst others. LUN is an established producer in Chile with ~250kt of CuEq output in 2022 from Candelaria, which sits ~160km NW of Case
AfriTin Mining (ATM LN) – Name change to Andrada Mining Limited from today Azure Minerals (AZS AU) – SQM to invest A$20m for 20% stake in Azure Blencowe Resources (BRES LN) – Bulk samples exported for final stage metallurgical testing Cornish Metals* (CUSN LN) – Valuation 48p/s – Drilling from Carn Brea identifies new mineralised zone south of South Crofty European Lithium (EUR AU) – Retraction of the announcement on updated DFS results Ferrexpo – (FXPO LN) – Q4 Pellet production drops 85
Companies: AZS LKE TLG FIL FXPO BRES ATM EUR CUSN
What you need to know: • Producers, developers, and explorers continue to trade at low multiples. These low multiples make for great buying opportunities; there are plenty of standout winners despite the weak performance • We anticipate the number of bankruptcies to rise as companies struggle to raise funds and treasuries dwindle • Positive month: Precious metals and commodities shared in a strong month posting the highest monthly gain since 2020 – equities took part as well Sentiment Update G
Companies: NST EQX FIL GRSL GGD AEM AEM PAAS PAAS
Research Tree provides access to ongoing research coverage, media content and regulatory news on Filo Corp.. We currently have 28 research reports from 4 professional analysts.
Q1/24 sales volumes averaged 2,669bopd, a 2% QoQ and 8% YoY reduction (Q4/23: 2,736bopd, Q1/23: 2,899bopd) as Trinity continues to offset natural production decline through an active programme of workovers, recompletions, and swabbing. Trinity has reiterated its 2024 sales volume guidance of 2,600-2,700bopd (a c5% YoY reduction at the mid-point). Cash at 31 March 2024 was US$8.6m (31 December 2023: US$9.8m). Trinity has also provided an update on the Jacobin-1 well, where the forward plan is to
Companies: Trinity Exploration & Production Plc
Cavendish
I3 has released its full year 2023 results, demonstrating the cash generation capability of its business, and funding position going into the increased planned 2024 CAPEX programme, where new drilling is expected to begin in June.
Companies: i3 Energy Plc
Zeus Capital
Seplat delivered an encouraging operating performance in 1Q24 including production of 49.3kboed, towards the upper end of guidance (44-52kboed). All current guidance was maintained but good progress on the ANOH export infrastructure and an earlier than expected resumption of exports through Zone 6 of the Trans Niger Pipeline improve confidence that guidance will be at least met. Financial performance for the quarter was skewed by a substantial underlift, FX effects, and a high deferred tax charg
Companies: Seplat Energy PLC
Capital Access Group
Pantheon Resources announced that Lee Keeling & Associates (“LKA”) has ascribed the Alkaid Horizon, consisting of the smallest and deepest development candidate of the Ahpun field, 79 mmb of recoverable reserves and resources (5 million barrels of possible reserves and 74 million barrels of contingent resources).
Companies: Pantheon Resources plc
WHIreland
Companies: Sylvania Platinum Ltd.
Liberum
• FY23 production was in line with our expectations and the YE23 cash balance of US$12 mm had been reported previously. • The highlight of the announcement is the discovery by the CN-8 well of multiple hydrocarbon-bearing intervals. 14 feet of net oil pay were encountered in the Carbonera in an area that was not considered prospective. The pay zone is a clean sandstone exhibiting consistent 25% porosity and high resistivities. The well has been put in production at a gross rate of 330 bbl/d (165
Companies: Arrow Exploration Corp.
Auctus Advisors
Companies: CNC RNO MAI IUG CUSN POLB
Companies: Touchstone Exploration Inc
Shore Capital
Alien recently announced (RNS 29.04.24) that it had entered into a joint venture with Errawarra Resources (ASX:ERW no rec) concerning the lithium rights of its Pinderi Hills project in the West Pilbara, Australia. This new project JV is concerned with lithium exploration over the licences which host the Munni Munni PGM-copper-nickel project and the Elizabeth Hill silver project. The farm-in by Errawarra effectively values the lithium JV at A$8m.
Companies: Alien Metals Ltd
Castings has released a brief trading update for FY24 to the end of March indicating that results will be marginally ahead of market expectations, so we increase FY24 PBT estimates by 4.7% to £21.0m, driven by an improved margin. Demand in the heavy truck market has been normalising with forward schedules now at a lower level, as also reported by major truck OEMs. Zeus forecasts for FY25 will be revisited at the 12 June results when we will have a better indication of demand volumes. At current
Companies: Castings Public Limited Company
Arrow has released its 2023 results, alongside updates on its ongoing drilling programme in Colombia. These help demonstrate the progress made on production and cash flows as a result of the campaign so far, with drilling activity ongoing throughout 2024.
Canaccord Genuity
Serabi Gold (AIM: SRB, TSX: SBI) have released their FY2023 annual results today, delivering on what has been a strong year back to profitability. Overall, earnings have largely tracked our forecast. The company has also announced a debt refinancing as a post year end balance sheet event.
Companies: Serabi Gold PLC
Tamesis Partners
88 Energy, Falcon Oil & Gas, Afentra, Touchstone Exploration, Trinity Exploration & Production, Sound Energy, Serica Energy, Star Energy, Southern Energy Corp, Ithaca Energy, i3 Energy, Equinor ASA, OKEA ASA, Aker BP, Galp Energia, Var Energi, TotalEnergies, Eni SpA, Repsol SA, ExxonMobil, Chevron Source: FactSet, weekly change 22/04/24-26/04/24 Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks. West Texas Intermediate edge
Companies: 88E FOG TXP AET TRIN
i3 Energy announced that its 2024 guidance consists of expectations to drill 10.5 net wells (7.6 net wells in Central Alberta, 1.9 net wells in Simonette and 1.0 net wells in the Clearwater play) with 85% of capex allocated to the second half of the year. Total capex expenditure for the year is guided at $US 50.9m. The company indicated that it intends to commence pad drilling of its Montney acreage in Q1 2025 and we perceive the company is bulking up for that significant growth opportunity for
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