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Orion Minerals (ORN) has announced that Independence Group (IGO), an Australian-listed base metals miner and developer, has subscribed to $5m in new equity in ORN at AUD 5c/share, a ~35% premium to the current share price. IGO, which operates the Nova nickel-copper, Jaguar copper-zinc and Long nickel mines in Western Australia, will own 11.1% of ORN post subscription, up from 4.2% prior to this transaction. We view this injection as a strong endorsement of ORN’s prospects for value-creation, bot
Companies: Orion Minerals Limited
Hannam & Partners
Orion Minerals (ORN) has announced the addition of a maiden Mineral Resource of 5.2Mt for the Vardocube Prospecting Right, consisting of 253kt Zn and 67kt Cu. The Vardocube Right was granted to ORN last week and covers an area adjacent to the company’s existing Repli Right at the Prieska zinc-copper project in South Africa’s Northern Cape Province. The new Vardocube Resources are entirely in the inferred category and are primarily based on data from historic drilling by the mine’s previous owner
Orion Minerals (ORN) has announced the receipt of two new Prospecting Rights from the South African Department of Mineral Resources. The Rights, held by ORN’s subsidiaries Vardocube (70% ORN, 30% BEE) and Bartotrax (74% ORN, 26% BEE), are contiguous to the company’s existing Repli prospecting right at the Prieska Zinc-Copper Project in the Northern Cape Province. In particular, the Vardocube right covers the SE strike continuation of the existing Prieska Deep Sulphide Resource, adding ~30% to th
Orion Minerals (“Orion” or “ORN”) is an ASX and JSE-listed base metals explorer and developer. In 2017, the company completed the acquisition of prospecting licenses covering the historic Prieska zinc-copper mine in South Africa, to go alongside extensive, under-explored regional landholdings in the Northern Cape secured in 2015. The Prieska Copper Mine (PCM) was developed in the late 60s by AngloVaal, and operated from 1970 until 1991. ORN is conducting a bankable feasibility study (BFS) on res
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Companies: Sylvania Platinum Ltd.
Companies: Pensana Plc
• Chariot, the Neura Group, H1 Holdings and Meadows Energy have formed Etana Energy, a new electricity trading company in South Africa. Etana is one of the few companies granted an electricity trading licence in the country.
• The licence allows Etana to sell and buy electricity on the grid, opening up access to a range of high-volume off-takers including municipal, industrial and retail customers.
• Chariot, H1 Holdings and Meadows Energy hold respectively 25%, 21% and 5% of Etana and bring ex
Companies: Chariot Limited
• Chariot continues to execute on its strategy to build a 1 GW (gross) power business. Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe.
• The solar project will have an initial installed capacity of 30 MW with a potential extension of up to 300 MW.
• The Karo Platinum Mine is in construction and is expected to be in production in 3Q24.
• The land for the pow
Diversified Energy (Diversified) is focused primarily on US natural gas production. Its strategy is to acquire and operate producing energy assets, which has seen it grow rapidly and create significant shareholder value. Since its 2017 IPO, the group has grown reserves 15x, increased production over 280x, raised the dividend 11 times and grown its market value 16x to £1.1bn. Diversified is currently the 2nd largest independent energy company by production, the 4th largest by market value and the
Companies: Diversified Energy Company PLC
Work programme update and Q3 2022 results
Companies: Arrow Exploration Corp.
Pantheon Resources published the results of a static and dynamic reservoir modelling report undertaken by Schlumberger, one of the most rigorous and well known oil services companies globally. The company stated the report represents the first phase of Schlumberger's analysis and that the report and associated model represent the most comprehensive model completed on evaluating the discovered oil resource and the productive potential of the company's assets.
Companies: Pantheon Resources plc
• Maurel & Prom has made an offer to acquire Wentworth for 32.5 p per share in cash, valuing Wentworth at £61.7 mm. The offer price represents a 30% premium to the share price of Wentworth on the last trading day prior to the announcement (25 p per share as at 2 December).
• Wentworth held US$30.2 mm (12.9 p per share) in cash as at 1 November. Deducting the cash value from the offer price suggests an offer price of 19.6 p per share for Wentworth’s non cash assets. This compares to a read throug
Companies: Wentworth Resources PLC
Companies: Atlantic Lithium Limited.
Companies: RNO DOTD NTQ KMK PMG EVG
Dish of the day
BWP REIT joins the Wholesale Segment of the International Property Securities Exchange (IPSX). BWP REIT is a newly formed single asset company and has raised £35m by issuing 35m new ordinary shares at 100 pence per share to acquire Bridgewater Place, an office-led mixed use property in central Leeds and valued at £63m. The property is one of the tallest buildings in Yorkshire, comprising 234,000 sq. ft of office space, and is close to 90% let to EY, as well as multinatio
Companies: RNO BEM BOIL DOTD NTQ KMK PMG EYE EVG ENET
Hargreaves has released a positive H1 pre-close update. All business areas are trading in line with expectations and the Group is in excellent financial shape with cash of £18m at 30th November and no bank debt. We believe forecasts have been pitched prudently and, in our view, the valuation looks compelling at c.5x P/E with a very well supported 6% dividend yield (including additional dividend). Interims will be reported on 25th January ’23.
Companies: Hargreaves Services plc
Singer Capital Markets
Chariot and Total Eren have agreed to work together to develop, finance, construct and operate a solar photovoltaic (PV) project that will provide electricity for the Karo Platinum Project in Zimbabwe. The solar PV project is expected to have an initial installed capacity of 30MWp with a potential extension of up to 300MWp. The project further advances Chariot towards its objective of delivering a 1GW renewable energy pipeline and builds on its existing 485MW of projects in operation or under co
Companies: Emmerson Plc