Market update - 06/12/2021
Companies: TXP TAL 88E
Companies: Touchstone Exploration Inc
Oil prices notched the longest stretch of weekly losses since March with U.S. President Joe Biden keeping investors guessing about whether he'll act to tame higher energy prices that are driving a surge in inflation.
Futures in New York fell 1% on Friday, yet pared some losses near the end of the session after White House Press Secretary Jen Psaki declined to say whether Biden plans to release oil from the Strategic Petroleum Reserve. She said the administration has been pushing oil-producing
Companies: FO KOS GPRK TXP VLE DELT DEC UOG TETY TETY
ADX Energy (ADX AU) C; Target price of A$0.045 per share: Independent prospective resources estimates – Prospective resources at the Anshof and OHO prospects have been independently estimated to hold respectively 6.6 mmboe and 17-24 mmboe with geological chance of success of respectively 43% and 24%. This is in line with the estimates previously provided by the company.
GeoPark (GPRK US) C; Target price of US$27 per share: Delivering
Companies: VLE TXP TLW SNM KOS GTE ADX AKRBP AKERBP ALV ALV DEC GPRK GPRK TETY TETY
The motorcades, private jets and rail debacles of COP26 have firmly highlighted the ongoing role that oil and gas have to play in our world. Equities do not reflect this and our benchmark index made up of ~70 AIM listed oil and gas juniors shows the sector is 20% below the 2016 cyclical low point and up 77% from the April 2020 COVID-19 driven low. Meanwhile, Brent is up 423% over the same period to 7-year highs while gas prices have spiked to record highs. Rising commodity prices evidently no lo
Companies: TXP PMG SQZ EDR SDX CHAR ORC/B
Market update - 08/11/2021
Companies: TXP AST DELT REXI
Touchstone’s first production test at the Royston-1 discovery has confirmed a light oil discovery in the lowermost section of the well, adding further potential to this future development. This is a long way from the Chinook disappointment, with oil in place thought to be at least 100 mmbbls, and potential significantly larger. This should be easily and economically developable and raises confidence levels for the deeper Kraken Cretaceous exploration prospect, which management will be keen to ge
Companies: AGL DEST ELIX IOG TXP
Touchstone announced its fifth consecutive discovery on the Ortoire block in Trinidad last week, with the Royston well encountering nearly 400ft of hydrocarbon pay, double pre-drill expectations. The discovery needs to be production tested to confirm its commercial viability but is thought to be the largest geological structure on the block in the Herrera formation, which could ultimately rival Shell’s 500 bcf Central block reserves. We are lowering our geological risking on Royston, which incre
Market update - 24/09/2021
Companies: Touchstone Exploration Inc (TXP:TSE)Aminex Plc (AEX:LON)
Calima Energy (CE1 AU)C; Target of A$0.75 per share: Good production performance – Production in August was 3,493 boe/d, up 200 boe/d compared to July as all the new wells at Brooks now contribute to production, more than offsetting natural decline. Financials for August are broadly in line with our expectations. The three new Thorsby wells drilled in August and September could be on stream for November with an individual IP rate of ~2
Companies: ALV ALV CE1 COP COP EDR IOG RDSA TETY TETY TXP
Research Tree provides access to ongoing research coverage, media content and regulatory news on Touchstone Exploration Inc.
We currently have 191 research reports from 9
Jubilee today announce the full year results for FY 2021 ending in June 21. It was a year of continued progress with revenues up 143% to £133m (from FY 2020), adjusted PBT up 324% to £52m and eps up 93% to 1.8p/sh – an extraordinary year – but still only the beginning of the progression in our view. Continued developments in South Africa have led to a fully flexible chrome and chrome tailings solution at Inyoni. Supply from a wide variety of sources (Run-Of-Mine, new tailings from own operati
Companies: Jubilee Metals Group PLC
Jubilee operates several chrome-Platinum Group Metal (PGM) operations in South Africa. Growth will come from its Zambian two-refinery strategy where it is expected to produce upwards of 31kt/year of copper (in cathode and concentrate) with an, as yet, undefined contribution from cobalt. The strategy has benefited from the acquisition of the Nkana refinery from Mopani (Zambian-government owned), which provides many logistical and technical benefits to Jubilee. Jubilee remains on a growth trajecto
Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.
Companies: ANX IBPO CYAN SOM EQT AFM
Solaris Resources (“Solaris”, “SLS”) has announced its intention to place its non-core assets in Ecuador, Peru, Mexico and Chile into a separate entity, to be spun off as “Solaris Exploration Inc” in due course. Solaris Resources will continue to focus on its world-class flagship Warintza project, with a streamlined structure likely to boost its attractiveness to potential acquirers or strategic partners. Meanwhile, the newly created company will highlight other assets in the portfolio which cur
Companies: Solaris Resources Inc
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What’s cooking in the IPO kitchen?
Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
Savannah today announces that it is amicably terminating its JV arrangement with Rio Tinto over the Mutamba Minerals Sands project in Mozambique. Savannah has been paid $9.5m (which translates into 0.4p/sh) in cash to relinquish the 20% it has earned in the project and will cease all activity in country. All staff will transfer to Rio Tinto.
Companies: Savannah Resources Plc
Across a broader market sell off EQTEC have shown resilience and is trading at 1.55p, above its placing in May, up 25% from one month ago.
Companies: EQTEC PLC
We initiate coverage of Tungsten West Ltd (“TUN” or “the company”) with a GBp144/sh price target. TUN is focussed on the re-opening of the Hemerdon Tungsten Mine in Devon, UK, which was previously owned and operated by Wolf Minerals (UK) Ltd (“Wolf”). Since acquiring the project in Nov’19, TUN has resolved issues encountered by Wolf and optimised the project further with new revenue streams and technology. In March 2021 TUN produced a Bankable Feasibility Study (“BFS”) for Hemerdon, validated by
Companies: Tungsten West Plc
Deeside project update
Bluejay Mining PLC (“JAY”) has announced the completion of bulk sample pilot plant processing and further, final samples being sent for incremental customer evaluation. We view this as an important step for both validating the process flow sheet and ultimately securing offtake agreements for the remaining expected output. JAY has agreed a Master Distribution Agreement with a major Asian conglomerate for up to 340ktpa of Dundas’ anticipated 440ktpa annual output. We see future technical studies a
Companies: Bluejay Mining PLC
Savannah Resources is a hardrock lithium exploration and development company with a 100% interest in the Barroso Lithium Project in the Northern Portugal hosting 27mt at 1.06% Li2O for ~700kt LCE, the largest spodumene lithium resource in Western Europe. Project environmental permitting is currently in progress paving the way for the completion of the Feasibility Study and eventual project financing. The project benefits from the strategic location as Europe rapidly expands it Li-ion batteries a
Companies: Shanta Gold Limited
Cornish Metals has now released the results of 10 drillholes at its continuing exploration programme at United Downs near Camborne. Including two holes drilled on the property by Cornish Lithium the drilling shows up to 5 mineralised structures with a total of twenty-two individual mineralised intercepts.
Even though the area has been mined intermittently between the early 1700s and the late 20th century, the drilling evidence bodes well for the delineation of additional mineral resources wh
Companies: Cornish Metals Inc.
Initiating Coverage: Price Target 20p
Potential Beyond Tin
AfriTin Mining Limited (ATM) is one of only three listed tin producers in Western markets. It has a large (820km2) land package in Namibia comprising 5 prospective licenses of which the Uis mine is the most advanced and already in production. Near term growth is being delivered with an 80% increase in tin production between 2022 and 2024. However, this is only scratching the surface and there are more than conceptual plans being fo
Companies: AfriTin Mining Ltd.
Savannah Resources has sold its interest in the Mozambique mineral sands project (Mutamba) to JV partner Rio Tinto for $9.5m in cash. The payment has already been made to one of Savannah’s UK subsidiaries.
Given Barroso’s importance and capital requirements over the coming months, we view this as very good news. It allows management to dedicate all its time to Barroso and reduces future SAV equity dilution. Despite the strong lithium price and exceptional performance of ASX and TSX lithium sto