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AfriTin Mining (ATM LN) – Uis mine delivers record 13% quarter-on-quarter increase in Q1 tin output
Altus Strategies* (ALS LN) – Share purchases by the management
Ariana Resources (AAU LN) – Tavsan drilling results
Cornish Metals* (CUSN LN) – Valuation 48p/s – Indonesia insists that value must be added to tin exports as Chinese tin smelters take break for maintenance
BHP (BHP AU) – Thermal coal exit scrapped as prices sit around record highs
KEFI Gold and Copper* (KEFI LN) – Saudi Arabia op
Companies: CUSN BHP SVM ATM ALS AAU KEFI SHG TYM RNU
Altus and Elemental Royalties Corp (TSX-V: ELE) have announced a share for share merger of equals with the entire issued share capital of Altus to be acquired by Elemental. The merger is to be implemented by a scheme of arrangement. Upon completion, the new Elemental Altus Group will be owned 52.9% and 47.1% by Elemental and Altus shareholders respectively. The rationale for the deal includes increased scale, diversification and cost synergies to create a fast growing global royalty company.
Companies: Altus Strategies PLC
AEX Gold (AEXG LN) – Results from initial Nanoq exploration campaign and commencement of 2022 field program
Altus Strategies* (ALS LN) - BUY – Recommended offer from Elemental Royalties in all share merger of equals
Anglesey Mining (AYM LN) – Drilling results from Parys Mountain
Antofagasta (ANTO LN) – Mineral resources at the Encierro and Cachorro deposits
Condor Gold* (CNR LN) – Raising £3.25m to complete the La India feasibility study
Lynas Rare Earths (LYC AU) – $120m Pentagon contract
Companies: AEX ALS AYM ANTO CNR LYC TLG SSW
Dish of the day
Psych Capital PLC, (AQSE:PSY) has listed on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in the UK and Europe. Psych is developing the Blossom Database pursuant to a th
Companies: ALS D4T4 HSP LOAD ORCP PHE XPD
Altus Strategies* (ALS LN) - BUY– Record quarterly Caserones royalty payment
Anglo American (AAL LN) – $100m sustainability linked loan issued
Atlantic Lithium* (ALL LN) – Test-work completed on a total of 1,700kg of drill core in 64 composites tested across the Ewoyaa Project
Greatland Gold (GGP LN) – Drilling continues to expand the known mineralised extent of Havieron
Scotgold Resources* (SGZ LN) - BUY – 154p – Record production reported in Apr/May at Cononish
Rambler Metals and Mining*
Companies: ALS AAL GGP RMM ALL SGZ
AGL Energy (AGL AU) – AGL Energy abandons plans to demerge coal generation business in Australia following rejection of takeover offer
Altus Strategies* (ALS LN) - BUY – Multiple gold discoveries on new properties in the Eastern Desert of Egypt
Beowulf Mining* (BEM LN) – Key license awarded as Q1 2022 summary released
Gold Fields Limited (GFI SJ) - Gold Fields to acquire Yamana Gold in agreed US$6.7bn deal
Mkango Resources* (MKA LN) – Q1 2022 results show DFS nearing completion
Companies: MKA ALS BEM URU AGL GFI
Reconnaissance exploration by Altus in the Eastern Desert of Egypt has discovered multiple high-grade gold prospects. The results come from further early-stage exploration across all four of the company’s projects in Egypt. Highlights include the delineation of a discontinuous 12km long gold trend, identification of over 100 artisanal gold workings, and numerous high-grade gold samples with grades up to 100 g/t Au. Two new licences have also been added, taking Altus’s landholding in Egypt to jus
Altus has entered into a Sale and Purchase Agreement (SPA) with AlphaStream Capital for the sale of a 30.1% interest in Alpha 3, the vehicle that owns the portfolio of 23 mining royalties in Australia acquired from Newcrest Mining in December. In consideration for the sale, Altus will receive US$5.3m in cash, the proceeds of which will be re-invested in royalty acquisition opportunities and generating new royalties. Alpha 3 will now be owned in a 50:50 partnership between Altus and AlphaStream.
Altus Strategies* (ALS LN) - BUY – 30% interest in Australian royalty portfolio sold to JV partner for $5.3m in cash
Cornish Metals* (CUSN LN) – Valuation 48p/s – results of special meeting of shareholders to seek approval for £40.5m of new equity funding
Power Metal Resources* (POW LN) – New options
Companies: CUSN ALS POW
Altus Strategies* (ALS LN) – BUY, 111p– La Mancha loan facility maturity extended to YE22
Cora Gold (CORA LN) – Annual results
Chaarat Gold (CGH LN) – Fatal accident at Kapan
Empire Metals* (EEE LN) – Drill results extend Eclipse known shear length to over 500m
Galantas Gold (GAL LN) – Drilling results from the Omagh project
Horizonte Minerals (HZM LN) – Quarterly results reported in US$ to mirror financing package and future revenue stream
Rockfire Resources (ROCK LN) – Completion of the
Companies: TEM GAL ALS CGH CORA EEE HZM ROCK AW1 TCG
AEX Gold (AEXG LN) – 2021 report describes progress de-risking Nalunaq Project and additional exploration targets in Greenland
Altus Strategies* (ALS LN) – BUY, 111p – Transformational 2021 described as Caserones delivers royalty
Galantas Gold (GAL LN) – New exploration licence awarded
Orosur Mining* (OMI LN) – Quarterly update highlights entry into new jurisdictions in South America
Pilbara Minerals Ltd (PLS AU) – Pilbara sells 5.5% spodumene concentrate shipment at US$5,650/dmt eq. $6,163
Companies: OMI GAL AEX ALS PLS
Altus Strategies* (ALS LN) – Drilling returns 4.9g/t over 14m at the Tabakorole Gold Project
Asante Gold (ASE CN) – Acquisition of Chirano reaffirms healthy M&A in West African gold
Bluejay Mining* (JAY LN) – Enonkoski exploration joint venture with Rio Tinto
Bushveld Minerals* (BMN LN) – Operational update highlights production and inventory sales into recent high vanadium prices
Culpeo Minerals* (CPO AU) – 400m of copper sulphide intersected – assay pending
Keras Resources* (KRS LN) – K
Companies: ASE ALS JAY BMN KRS SHG CPO RNU
Research Tree provides access to ongoing research coverage, media content and regulatory news on Altus Strategies PLC.
We currently have 128 research reports from 4
Forecast and valuation update
Companies: IOG PLC
Companies: Savannah Energy Plc
With several opportunistic but timely acquisitions in 2021, coupled with the recent surge in the oil price, Zenith Energy has, in our view, completely transformed itself and its value proposition to investors. While for various reasons it has not been easy for the market to fully recognise and reward this transformation, we expect 1) doubling production, 2) further strengthening of its balance sheet and 3) becoming Free Cash Flow (FCF) generative this year, will make it difficult for the market
Companies: Zenith Energy Ltd.
Alternative Resource Capital
We are increasing our fair value estimate for Pantheon Resources to 208p, from under review (previously 184p). The change reflects what we believe was an unambiguously positive winter drilling campaign. This full note details the background analysis to the change in estimate of fair value, which includes a valuation table and an assessment of the forthcoming Alkaid#2 well.
Companies: Pantheon Resources plc
Chariot has signed a front-end engineering and design (FEED) agreement with Schlumberger and Subsea 7 (the Subsea Integration Alliance) for the Anchois gas development project. Chariot and the Subsea Integration Alliance will adopt a “one team” integrated and collaborative approach to fast-track first gas from Anchois to maximise the return on investment for all stakeholders. The scope of work covers all the development's offshore elements including well completions and subsea production systems
Companies: Chariot Limited
RCS-1 flow testing results
Companies: Arrow Exploration Corp.
Trinity has announced the commencement of its highly anticipated onshore drilling campaign. The Company's fully funded, six well drilling programme will target an aggregate 450-1,100mmbbls of reserves at a cost of US$14-17m. In addition to drilling four “conventional” low angle wells, Trinity will also drill one horizontal well and one deeper appraisal well, with both the horizontal and deeper appraisal wells having the potential to deliver substantially higher production and economic returns ve
Companies: Trinity Exploration & Production Plc
• Section II of the Northern Peruvian Pipeline has been temporary re-opened.
• As a result, 0.72 mmbbl of PetroTal’s Bretana oil has been tendered at the Bayovar port by Petroperu for the July lifting. This oil previously entered the pipeline in late 2020 for which PetroTal was paid just ~US$45/bbl at the time.
• PetroTal will receive the difference between this price and the price at which Petroperu will sell the oil in July (~US$120/bbl), generating over US$60 mm of price adjustment true-up r
Companies: PetroTal Corp.
Wentworth has announced a positive operational update ahead of its AGM to be held later today. Daily production year-to-date (YTD) has averaged 92.2MMscf/d, a c15% YoY increase (2021: 79.9MMscf/d) and ahead of Wentworth's 2022 guidance of 75-85MMscf/d. As noted previously, the strong performance of the Mnazi Bay asset YTD has allowed Wentworth to increase its total dividend distribution in respect of 2021 to 1.7p per share, a yield of c7.1%. Mnazi Bay continues to supply Tanzania with half of th
Companies: Wentworth Resources PLC
Completion of commissioning of Kiln 3 at Vanchem last month keeps Bushveld on track to end 2022 with a sustainable production run rate of 5,000-5,400t V pa, a solid platform from which to refocus on longer-term growth. Fully utilising the vast array of processing infrastructure at Vanchem to treat feed from an expanded mining and ore concentration operation at Vametco makes a lot of sense given the fixed component of costs at the former and the large mineral resource at the latter. Bushveld’s re
Companies: Bushveld Minerals Limited
We have updated our valuation for SolGold (“SOLG”) following the filing of the Cascabel PFS technical report. The changes result in a US$3.6bn NPV8% and 22% IRR (immediately pre-capex) at US$8,500/t Cu and US$1,850/oz Au, driving a modest cut in our target to 85p/sh (Jun’23E) from 101p. Nonetheless, we view this as a solid base case, with tangible potential upside through: inclusion of the open-pit Tandayama-America (“TAM”) deposit 3km away; additional caves and throughput capacity to capture th
Companies: SolGold Plc
Hannam & Partners
No Joiners Today.
Raven Property Group has left the Main Market.
What’s cooking in the IPO kitchen?
Immediate acquisitions (IME.L) is to re-join AIM via a Reverse Takeover of Fiinu Holdings Limited. Once complete the Company is proposing to change its name to Fiinu Group plc. Fiinu intends to be a provider of a consumer banking product, the Plugin Overdraft ®, which is designed to provide customers with an overdraft facility without having to change their current account or req
Companies: TRB CWR CCS DMTR EMAN GTC JSE KIBO MDZ SYM
Savannah, which operates the Barroso lithium mine project in Portugal, reports today the results of its locked cycle test to determine optimal flotation reagents to confirm lithium recoveries and spodumene concentrate grades. Savannah is aiming for a 5.5%Li2O concentrate grade with a near 80% recovery. The reported work confirms that these should be possible and that in larger scale, bulk testing these parameters may improve. The work also highlights that there are still optimisations to be h
Companies: Savannah Resources Plc
• The RCS-1 well was flow tested at oil rates of up 1,872 bbl/d (936 bbl/d net to Arrow) of 30 API crude from the C7B sands.
• The zone was tested for 33 hours at an average oil rate of 1,076 bbl/d (538 bbl/d net to Arrow) with no formation water. Production will start next week at ~1,000 bbl/d (500 bbl/d net) in order to minimize water cut. We understand that the zone has the potential to produce 2,000-3,000 bbl/d of oil.
• This is again above our expectations (~800 bbl/d).
• The shallower C7