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  • 20 Dec 19
SP Angel . Morning View

Altus Strategies* (ALS LN) – £2.4m equity raise | AngloGold Ashanti (ANG SJ) – Resumption of gold production at Obuasi | Bushveld Minerals* (BMN LN) – Enerox Investment update | Firestone Diamonds (FDI LN) – Results reflect a challenging year Kore Potash (KP2 LN) – Trading Halt on ASX a company addresses questions relating to technical disclosure requirements | Phoenix Copper* (PXC LN) – Extension of Warrants | Resolute Mining (RSG LN) – Syama roaster fully operational

Companies: ALS bmn FDI KP2 RSG

  • 20 Dec 19
SP Angel . Morning View

Altus Strategies* (ALS LN) – £2.4m equity raise | AngloGold Ashanti (ANG SJ) – Resumption of gold production at Obuasi | Bushveld Minerals* (BMN LN) – Enerox Investment update | Firestone Diamonds (FDI LN) – Results reflect a challenging year Kore Potash (KP2 LN) – Trading Halt on ASX a company addresses questions relating to technical disclosure requirements | Phoenix Copper* (PXC LN) – Extension of Warrants | Resolute Mining (RSG LN) – Syama roaster fully operational

Companies: ALS bmn FDI KP2 RSG

  • 04 Dec 19
SP Angel . Morning View

Centamin (CEY LN) – Expands on reasons to reject the Endeavour Mining offer | Bluejay Mining* (JAY LN) – Rio Tinto shuts Richard’s Bay as violence escalates | Firestone Diamonds (FDI LN) – Restoration of grid power at Liqhobong | Premier African Minerals* (PREM LN) – MNH investment | Rio Tinto (RIO LN) – Richards Bay suspension and investment at Kennecott | Sunrise Resources Plc (SRES LN) – CS Project permitting delay

Companies: CEY JAY FDI PREM RIO SRES

  • 04 Dec 19
SP Angel . Morning View

Centamin (CEY LN) – Expands on reasons to reject the Endeavour Mining offer | Bluejay Mining* (JAY LN) – Rio Tinto shuts Richard’s Bay as violence escalates | Firestone Diamonds (FDI LN) – Restoration of grid power at Liqhobong | Premier African Minerals* (PREM LN) – MNH investment | Rio Tinto (RIO LN) – Richards Bay suspension and investment at Kennecott | Sunrise Resources Plc (SRES LN) – CS Project permitting delay

Companies: CEY JAY FDI PREM RIO SRES

  • 01 Nov 19
SP Angel . Morning View

Arc Minerals* (ARCM LN) STRONG BUY – First commercial sale and shipment of copper concentrate from Kalaba mine in Zambia | Bushveld Minerals* (BMN LN) – Support for RedT – Avalon reverse takeover to gain strategic interest in growing VRFB maunfacturer | Firestone Diamonds (FDI LN) – Resumption of production at Liqhobong

Companies: ARCM bmn FDI

  • 01 Nov 19
SP Angel . Morning View

Arc Minerals* (ARCM LN) STRONG BUY – First commercial sale and shipment of copper concentrate from Kalaba mine in Zambia | Bushveld Minerals* (BMN LN) – Support for RedT – Avalon reverse takeover to gain strategic interest in growing VRFB maunfacturer | Firestone Diamonds (FDI LN) – Resumption of production at Liqhobong

Companies: ARCM bmn FDI

  • 23 Oct 19
SP Angel - Morning View

Bushveld Minerals* (BMN LN) BUY – Valuation 80p – Renegotiation of Vanchem acquisition cuts $14.5m off purchase price and defers $23.5m through issuance of convertible loan notes | Centamin (CEY LN) – Q3 Production and exploration update | Firestone Diamonds (FDI LN) –Q1 production, operational and market update | KEFI Minerals* (KEFI LN) – Massive sulphide mineralisation intersected at Hawiah, Saudi Arabia | Vast Resources* (VAST LN) – Update | Sirius Minerals (SXX LN) – Sirius relegated to the SmallCap index as it falls out of FTSE 250 | Solgold* (SOLG LN) – Exploration identifies large copper gold target at Celen

Companies: bmn CEY FDI KEFI VAST SXX SOLG

  • 23 Oct 19
SP Angel - Morning View

Bushveld Minerals* (BMN LN) BUY – Valuation 80p – Renegotiation of Vanchem acquisition cuts $14.5m off purchase price and defers $23.5m through issuance of convertible loan notes | Centamin (CEY LN) – Q3 Production and exploration update | Firestone Diamonds (FDI LN) –Q1 production, operational and market update | KEFI Minerals* (KEFI LN) – Massive sulphide mineralisation intersected at Hawiah, Saudi Arabia | Vast Resources* (VAST LN) – Update | Sirius Minerals (SXX LN) – Sirius relegated to the SmallCap index as it falls out of FTSE 250 | Solgold* (SOLG LN) – Exploration identifies large copper gold target at Celen

Companies: bmn CEY FDI KEFI VAST SXX SOLG

  • 25 Jul 19
SP Angel – Morning View

Altus Strategies* (ALS LN) – Agreement to sell a stake in Toura Ni-Co Project, Cote d’Ivoire | Firestone Diamonds (FDI LN) – Strong Q4 production delivers 2018/19 guidance | Greatland Gold (GGP LN) – Initial results from Newcrest Mining’s drilling at Havieron | Strategic Minerals* (SML LN) – Settlement of acquisition

Companies: ALS FDI GGP SML

  • 25 Jul 19
SP Angel – Morning View

Altus Strategies* (ALS LN) – Agreement to sell a stake in Toura Ni-Co Project, Cote d’Ivoire | Firestone Diamonds (FDI LN) – Strong Q4 production delivers 2018/19 guidance | Greatland Gold (GGP LN) – Initial results from Newcrest Mining’s drilling at Havieron | Strategic Minerals* (SML LN) – Settlement of acquisition

Companies: ALS FDI GGP SML

  • 08 Jul 19
SP Angel – Morning View

Beowulf Mining* (BEM LN) 6.6p, Mkt Cap £39m – CEO outlines plans for Kallak iron ore project in Sweden | BlueRock Diamonds* (BRD LN) 0.11p, Mkt Cap £1.8m – Q2 production report | Condor Gold (CNR LN) 19.5p, Mkt Cap £14.5m – £4.04m private placing | Firestone Diamonds (FDI LN) 1.325 pence, Mkt Cap £7.5m – 54 carat fancy yellow diamond recovered from Liqhobong | Horizonte Minerals (HZM LN) 1.95p, Mkt Cap £28.2m –Energy supply agreement for Araguaia | Premier African Minerals* (PREM LN) 0.047p, Mkt Cap £3.8m – Strategic loan to Namibian manganese projects

Companies: BEM CNR FDI HZM PREM BRD

  • 08 Jul 19
SP Angel – Morning View

Beowulf Mining* (BEM LN) 6.6p, Mkt Cap £39m – CEO outlines plans for Kallak iron ore project in Sweden | BlueRock Diamonds* (BRD LN) 0.11p, Mkt Cap £1.8m – Q2 production report | Condor Gold (CNR LN) 19.5p, Mkt Cap £14.5m – £4.04m private placing | Firestone Diamonds (FDI LN) 1.325 pence, Mkt Cap £7.5m – 54 carat fancy yellow diamond recovered from Liqhobong | Horizonte Minerals (HZM LN) 1.95p, Mkt Cap £28.2m –Energy supply agreement for Araguaia | Premier African Minerals* (PREM LN) 0.047p, Mkt Cap £3.8m – Strategic loan to Namibian manganese projects

Companies: BEM CNR FDI HZM PREM BRD

  • 08 Jul 19
Small Cap Feast

ReAssure Group plc - The Group is a leading closed book life insurance consolidator in the United Kingdom with 4.3m policies, £68.7 billion of assets under administration on a Post-L&G Illustrative Basis. It is considering a premium listing segment of the main market. Voyager AIR The Com pany w ill focus on the acquisition, leasing and m anagement of prim arily widebody aircraft, w ith asset management services to be provided by Amedeo Limited he IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m· Uniphar, a diversified healthcare services business w ith a workforce of over 2,000, is looking to join AIM. Raise TBC, expected mid-July 2019

Companies: OSI DXRX HDD PYC VRS IPX FDI RENX HZM BRD

  • 08 Jul 19
Small Cap Feast

ReAssure Group plc - The Group is a leading closed book life insurance consolidator in the United Kingdom with 4.3m policies, £68.7 billion of assets under administration on a Post-L&G Illustrative Basis. It is considering a premium listing segment of the main market. Voyager AIR The Com pany w ill focus on the acquisition, leasing and m anagement of prim arily widebody aircraft, w ith asset management services to be provided by Amedeo Limited he IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m· Uniphar, a diversified healthcare services business w ith a workforce of over 2,000, is looking to join AIM. Raise TBC, expected mid-July 2019

Companies: OSI DXRX HDD PYC VRS IPX FDI RENX HZM BRD

  • 25 Apr 19
SP Angel – Morning View

Anglo American (AAL LN) – Production report shows mixed results | Bluebird Merchant Ventures* (BMV LN) – Fast progress in Kochang mining permit application. Gubong permit questions answered. | Firestone Diamonds (FDI LN) – Liqhobong mine sales benefit from large high quality diamonds | Highland Gold (HGM LN) – Q1 production +9% yoy in Q1/19 | Rambler Metals & Mining* (RMM LN) – Nomad and Broker appointment

Companies: AAL BMV FDI HGM RMM

  • 25 Apr 19
SP Angel – Morning View

Anglo American (AAL LN) – Production report shows mixed results | Bluebird Merchant Ventures* (BMV LN) – Fast progress in Kochang mining permit application. Gubong permit questions answered. | Firestone Diamonds (FDI LN) – Liqhobong mine sales benefit from large high quality diamonds | Highland Gold (HGM LN) – Q1 production +9% yoy in Q1/19 | Rambler Metals & Mining* (RMM LN) – Nomad and Broker appointment

Companies: AAL BMV FDI HGM RMM

  • 08 Apr 19
SP Angel – Morning View

Anglo Asian Mining* (AAZ LN) BUY – Target Price 96p – Exploration programme ramps up at Ordubad | ARC Minerals* (ARCM LN) – Copper and cobalt sulphide concentrate production starts at Kalaba | Aura Energy (AURA LN) – Mauritanian gold and base metal tenements granted | Cora Gold* (CORA LN) – £1.4m equity raise | Firestone Diamonds (FDI LN) – Liqhobong mine yields 72 carat yellow diamond | Jangada Mines (JAN LN) – Pedra Branca BFS completion expected during Q2 2019 | KEFI Minerals* (KEFI LN) – Tulu Kapi funding update | Strategic Minerals* (SML LN) – Settlement date for acquisition of the balance of the Redmoor project. | Vast Resources* (VAST LN) – Proposed sale of Zimbabwean gold assets and balance sheet restructuring

Companies: AAZ ARCM AURA CORA FDI JAN KEFI SML VAST

  • 08 Apr 19
SP Angel – Morning View

Anglo Asian Mining* (AAZ LN) BUY – Target Price 96p – Exploration programme ramps up at Ordubad | ARC Minerals* (ARCM LN) – Copper and cobalt sulphide concentrate production starts at Kalaba | Aura Energy (AURA LN) – Mauritanian gold and base metal tenements granted | Cora Gold* (CORA LN) – £1.4m equity raise | Firestone Diamonds (FDI LN) – Liqhobong mine yields 72 carat yellow diamond | Jangada Mines (JAN LN) – Pedra Branca BFS completion expected during Q2 2019 | KEFI Minerals* (KEFI LN) – Tulu Kapi funding update | Strategic Minerals* (SML LN) – Settlement date for acquisition of the balance of the Redmoor project. | Vast Resources* (VAST LN) – Proposed sale of Zimbabwean gold assets and balance sheet restructuring

Companies: AAZ ARCM AURA CORA FDI JAN KEFI SML VAST

  • 12 Feb 19
SP Angel – Morning View

Bezant Resources (BZT LN) – Mankayan projects economics | Connemara Mining* (CON LN) – Proposal to change name | Element 25 (E25 AU) – Bulk test yields high purity 99.95% manganese metal | Exore Resources (ERX AU) – Well funded gold explorer with extensive land package in northern Cote d’Ivoire: Antoinette drilling results | Firestone Diamonds (FDI LN) – Liqhobong mine yields 70 carat white diamond | Kodal Resources* (KOD LN) – High grade lithium intersections across final assay results

Companies: BZT ARK FDI KOD

  • 12 Feb 19
SP Angel – Morning View

Bezant Resources (BZT LN) – Mankayan projects economics | Connemara Mining* (CON LN) – Proposal to change name | Element 25 (E25 AU) – Bulk test yields high purity 99.95% manganese metal | Exore Resources (ERX AU) – Well funded gold explorer with extensive land package in northern Cote d’Ivoire: Antoinette drilling results | Firestone Diamonds (FDI LN) – Liqhobong mine yields 70 carat white diamond | Kodal Resources* (KOD LN) – High grade lithium intersections across final assay results

Companies: BZT ARK FDI KOD

  • 14 Dec 18
SP Angel – Morning View

Bellzone Mining (BZM LN) SUSPENDED – Bellzone liquidation effectively forced by Chinese shareholder preventing company from raising new debt or equity | Bushveld Minerals* (BMN LN) BUY - Target Price 87p – Professional investors buying Bushveld as ferrovanadium prices pull-back to more sensible levels | Firestone Diamonds (FDI LN) 3.75 pence, Mkt Cap £20.0m – Liqhobong mine yields 46 carat diamond | Kodal Minerals* (KOD LN) 0.15p, Mkt Cap £11.1m – Interim results show important progress | MOD Resources (MOD LN) 18p, Mkt Cap £44.7m –Botswana licence renewals | Ormonde Mining* (ORM LN) 5.075p, Mkt Cap £24.0m – Barruecopardo commissioning remains on track

Companies: BZM bmn FDI KOD ORM

  • 14 Dec 18
SP Angel – Morning View

Bellzone Mining (BZM LN) SUSPENDED – Bellzone liquidation effectively forced by Chinese shareholder preventing company from raising new debt or equity | Bushveld Minerals* (BMN LN) BUY - Target Price 87p – Professional investors buying Bushveld as ferrovanadium prices pull-back to more sensible levels | Firestone Diamonds (FDI LN) 3.75 pence, Mkt Cap £20.0m – Liqhobong mine yields 46 carat diamond | Kodal Minerals* (KOD LN) 0.15p, Mkt Cap £11.1m – Interim results show important progress | MOD Resources (MOD LN) 18p, Mkt Cap £44.7m –Botswana licence renewals | Ormonde Mining* (ORM LN) 5.075p, Mkt Cap £24.0m – Barruecopardo commissioning remains on track

Companies: BZM bmn FDI KOD ORM

  • 29 Oct 18
SP Angel – Morning View

Cora Gold* (CORA LN) 8.8p, Mkt Cap £4.8m – Publication of the Exploration Target Report | Firestone Diamonds (FDI LN) 4.4 pence, Mkt Cap £22.9m – Q1 production | Horizonte Minerals (HZM LN) 3.5 pence, Mkt Cap £49m – Araguaia feasibility study | IronRidge Resources* (IRR LN) 22.3, Mkt Cap £62.7m – IMARC Africa focus day presentation 2018 | Kefi Minerals* (KEFI LN) 1.7p, Mkt Cap £9.1m – Resettlement programme update | SolGold* (SOLG LN) 38p, Mkt Cap £691m – Shares issued | URU Metals* (URU LN) 0.35p, Mkt Cap £2.7m – Zebediela licnese renewal

Companies: CORA FDI HZM IRR KEFI SOLG URU

  • 29 Oct 18
SP Angel – Morning View

Cora Gold* (CORA LN) 8.8p, Mkt Cap £4.8m – Publication of the Exploration Target Report | Firestone Diamonds (FDI LN) 4.4 pence, Mkt Cap £22.9m – Q1 production | Horizonte Minerals (HZM LN) 3.5 pence, Mkt Cap £49m – Araguaia feasibility study | IronRidge Resources* (IRR LN) 22.3, Mkt Cap £62.7m – IMARC Africa focus day presentation 2018 | Kefi Minerals* (KEFI LN) 1.7p, Mkt Cap £9.1m – Resettlement programme update | SolGold* (SOLG LN) 38p, Mkt Cap £691m – Shares issued | URU Metals* (URU LN) 0.35p, Mkt Cap £2.7m – Zebediela licnese renewal

Companies: CORA FDI HZM IRR KEFI SOLG URU

  • 23 Jul 18
SP Angel – Morning View

Amur Minerals* (AMC LN) –Cooperation agreement signed with transport/logistics group | Firestone Diamonds (FDI LN) – Record Q4 delivers production guidance target | Galileo Resources (GLR LN) – Geophysics identifies further drilling targets at Star Zinc | Keras Resources* (KRS LN) – Bulk sampling approved at Nayega | Petra Diamonds (PDL LN) – 2018/18 production of 4.6m carats in line with guidance

Companies: AMC FDI GLR KRS PDL

  • 23 Jul 18
SP Angel – Morning View

Amur Minerals* (AMC LN) –Cooperation agreement signed with transport/logistics group | Firestone Diamonds (FDI LN) – Record Q4 delivers production guidance target | Galileo Resources (GLR LN) – Geophysics identifies further drilling targets at Star Zinc | Keras Resources* (KRS LN) – Bulk sampling approved at Nayega | Petra Diamonds (PDL LN) – 2018/18 production of 4.6m carats in line with guidance

Companies: AMC FDI GLR KRS PDL

  • 17 Jan 18
SP Angel – Morning View

Acacia Mining (ACA LN) – Hounde royalty sale completed | Firestone Diamonds (FDI LN) – Mixed Q2 results but output, quality, and demand improvements expected in H2 | Georgian Mining* (GEO LN) STRONG BUY – Michael Struthers appointed as COO to transition to mine development | IronRidge Resources* (IRR LN) – Expanding its lithium exploration area in Ghana | Lucapa Diamonds (LOM AU) – More large diamonds recovered from Lulo | Sula Iron & Gold* (SULA LN) – Sula changes name to African Battery Metals | African Battery Metals* (ABM LN) – Sula changes name to African Battery Metals | Tahoe Resources (THO CN) C$5.8, mkt cap C$1.8bn – cuts quarter of workforce in Guatemala as courts delay | mining license for Escobal silver mine

Companies: ACA FDI GEO IRR LOM THO POW

  • 17 Jan 18
SP Angel – Morning View

Acacia Mining (ACA LN) – Hounde royalty sale completed | Firestone Diamonds (FDI LN) – Mixed Q2 results but output, quality, and demand improvements expected in H2 | Georgian Mining* (GEO LN) STRONG BUY – Michael Struthers appointed as COO to transition to mine development | IronRidge Resources* (IRR LN) – Expanding its lithium exploration area in Ghana | Lucapa Diamonds (LOM AU) – More large diamonds recovered from Lulo | Sula Iron & Gold* (SULA LN) – Sula changes name to African Battery Metals | African Battery Metals* (ABM LN) – Sula changes name to African Battery Metals | Tahoe Resources (THO CN) C$5.8, mkt cap C$1.8bn – cuts quarter of workforce in Guatemala as courts delay | mining license for Escobal silver mine

Companies: ACA FDI GEO IRR LOM THO POW

  • 01 Dec 17
SP Angel – Morning View

BlueRock Diamonds* (BRD LN) – BlueRock appoints new finance director | Firestone Diamonds (FDI LN) – Annual results and potential fundraising

Companies: Firestone Diamonds Bluerock Diamonds

  • 01 Dec 17
SP Angel – Morning View

BlueRock Diamonds* (BRD LN) – BlueRock appoints new finance director | Firestone Diamonds (FDI LN) – Annual results and potential fundraising

Companies: Firestone Diamonds Bluerock Diamonds

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Firestone Diamonds. We currently have 77 research reports from 5 professional analysts.

Open
N/A
Range Today
N/A
52 Week
0.43/2.90p
Daily Volume
N/A
# Shares
691.4m
Daily Liquidity
(0.04%)
Pension Liability
£0m
Enterprise Value
£75.4m
Market Cap
£4.84m
Latest PE (hist)
Div Yield

Latest News/RNS

(more news)
Date Source Announcement
17Jan20 12:23 RNS Issue of Shares
17Jan20 11:36 RNS Result of AGM
06Jan20 09:05 RNS Second Price Monitoring Extn
06Jan20 09:00 RNS Price Monitoring Extension
20Dec19 07:00 RNS Final results for the year ended 30 June 2019
04Dec19 09:42 RNS Grid Power Restored
19Nov19 16:35 RNS Price Monitoring Extension
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  • 20 Jan 20
The Industrial Revelation

US factory output rises in Dec better than expected, Schlumberger sees continued weakness in North America, Fastenal saw a continued slowdown in Q4

Companies: HEAD HILS HTG JHD RNO SCPA TRI ZTF SOM

  • 20 Jan 20
Hurricane Energy - Updated drilling campaign for 2020–21

In December 2019, Hurricane Energy provided a trading and operational update on its activities, announcing a strong ongoing performance of the Lancaster early production system (EPS), with well tests supporting guidance of 20,000bopd for FY20 (before operational downtime). Hurricane was also granted a five-year extension to its P1368 licence, covering Lancaster and Lincoln, which resulted in changes to its near-term work programme. One or more sub-vertical wells will be drilled on both Lincoln (in 2020) and Lancaster (in 2021) to determine the maximum vertical extent of each reservoir. Hurricane estimated FY19 revenue of c $165m and year-end unrestricted cash of c $150m, relatively in line with our estimates for the year. Our risked valuation stands at 109.9p/share (from 102.8p/share) as we roll forward our NAV, adjust our short-term oil price assumptions and update forecasts to reflect Lancaster EPS performance and the 2020–21 work programme.

Companies: Hurricane Energy
  • 23 Jan 20
The Industrial Revelation

UK industrial trends improves in Jan, South Korean GDP rises at fastest pace since Q3 17, Japan's exports miss but chip-making bounces in Dec

Companies: HEAD HTG JHD OXIG RSW GHH

  • 20 Jan 20
Cenkos: Trinity Exploration and Production Plc -- Strong Cash flow Generation

Trinity has ended 2019 on a high, increasing year-on-year cash balances whilst continuing with its onshore drilling programme. Year-on-year production increased by 5%, with the full impact of the 2019 drilling campaign only being realised during Q4/19, with an exit production rate c3,400 bopd. Through SCADA and the Company's hedging programme Trinity has put in place measures to protect bottom-line free cash flow generation and ensure a resilient financial performance, with the impact of oil price and tax take mitigated. We update our model, maintaining our 37p buy target and our BUY recommendation

Companies: Trinity Exploration & Production
  • 20 Jan 20
Cenkos: Oil & Gas Sector -- Falcon Oil & Gas, ConocoPhillips, Lekoil, Tullow Oil, PetroTal, Serica Energy, China National Offshore Oil Corporation (CNOOC), Cairn Energy, Africa Oil Corp, Genel Energy, RockRose Energy, Egdon Resources

General News: Norway The Norwegian Government has awarded 28 oil and gas companies a total of 69 offshore blocks as part of the APA 2019 licensing round. 33 blocks were awarded in the North Sea, with 23 in the Norwegian Sea and a further 13 in the Barents Sea. Equinor received the most licences with 23, followed by Var Energi with 17 and Aker BP with 15. PE backed firms, Neptune Energy and Chrysaor received eight and thirteen blocks respectively. Norway. Senegal's 2020 Licensing Round will be launched on the 28 January 2020 at the King Fahd Hotel in Dakar. The licensing round comprises 12 blocks in the MSGBC Basin, offshore Senegal. The Round officially launches on the 31 January 2020, with applications to be delivered by the 31 July 2020. Petrosen, along with TGS, GeoPartners and PGS have provided 14,000km of 2D seismic, 10,000km of 3D seismic and 50,000sqkm of multibeam data. Further investment events are planned in London on 19-20 February and in Houston 24-25 February. Senegal.

Companies: FOG PVR DGOC EME TRIN 88E

  • 20 Jan 20
First look

Trinity has released a positive 4Q19 operational update, with average FY19 production up 5% yoy to 3.01kb/d and an exit rate of c.3.4kb/d. The company’s first High Angle Well has also been successful, reaching daily production rates in excess of 80b/d, and the development team will prioritise identifying similar HAW locations for its 2020 capex programme. We reiterate our BUY recommendation given Trinity’s compelling valuation, strong balance sheet, efficient execution and visibility on production growth.

Companies: Trinity Exploration & Production
  • 23 Jan 20
Pantheon Resources*

Alkaid resource report

Companies: Pantheon Resources
  • 02 Sep 19
LIBERUM: Sylvania Platinum* - Results beat, Grasvally disposal but light on dividend

Sylvania has reported FY19 results (June Y/E) of $6.37/sh versus expectations of $5.95/sh due to a lighter tax expense than assumed. They have entered into a binding agreement to sell Grasvally for R115m ($7.6m at current FX), which should be settled in the next eight months.

Companies: Sylvania Platinum
  • 21 Jan 20
WHI First Light: Caledonia Mining, Pennant International & Oriole Resources

Caledonia today announced it has finalised the transaction to purchase a 15% holding in the Blanket mine in Zimbabwe taking its total holding in the mine to 64%. This was first announced in November 2018 and comprised the cancelling of a loan between Fremiro and Caledonia and the issuance of 0.73m shares in Caledonia (valuing the 15% stake at $16.7m). Fremiro will now own 6.3% of the enlarged share capital of Caledonia. PEN's announcement this morning appears well-aligned to its strategy of lifting recurring earnings while also intensifying its focus on software products and related services as part of the product mix. This approach is expected to free PEN to exploit to the fullest extent its technical advantages in the specialist field of integrated logistics support software for the aviation and other sectors, while increasingly limiting its exposure to large, lumpy contracts. The intended acquisition of Absolute Data Group (ADG) adds a complementary new product suite, gives PEN a step up in key global markets, and adds both high margin licences and expanded maintenance services. Completion, expected by the end of February, is contingent on contractual conditions being satisfied by the vendors as well as on the conclusion of financing agreements. The acquisition is small, but looks potentially meaningful all the same, and we expect it to be modestly earnings enhancing (allowing for investment and integration costs) as early as FY2020E. Oriole, the West-African focussed gold explorer, today announces that its tenure in Senegal has been extended for up to 10 years (plus a potential 2 years special extension), with the former Dalafin licence now designated Senala.

Companies: CMCL ORR PEN

  • 21 Jan 20
Gulf Keystone Petroleum#

Operational update

Companies: Gulf Keystone Petroleum
  • 23 Jan 20
Q4/2019 Trading Update

Petropavlovsk PLC (LSE: POG) have released their Q4 trading update this morning. Not only are the results for 2019 impressive with a 28% increase in sales from the company’s three operating gold mines to 471.6koz, plus another 42.4Koz from third party concentrates (comfortably in line with estimates), the guidance for 2020 is literally on another level. The company is guiding to 620koz to 720koz of production including third-party concentrate sales. We were previously assuming 565koz including 80koz of third party.

Companies: Petropavlovsk
  • 21 Oct 19
Quarterly Research Outlook Autumn 2019

Following continued delays of a Brexit agreement, few sectors within the UK market have remained attractive to investors despite low valuations. One sector which has continued to outperform despite the political drama has been the UK video gaming sector (henceforth UK gaming), which we are fans of. We believe a combination of sector-leading growth, strong cash conversion and timely cyclical positioning support our positive view on the UK video gaming sector.

Companies: ABBY AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CDM CSRT TIDE CYAN DTG DEMG ELM EMR FPO FDEV GTLY GENL GHH GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KAPE KEYS KWS KCT KGH LAM LIT LOK MACF MANO MOD OXIG PCA PANR APP SRE PHC PMO RBW RMM RBGP REDD RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF

  • 20 Jan 20
Cenkos: 88 Energy Ltd -- Quarterly Update

This morning, 88 Energy released its quarterly update ahead of the spudding of the potentially transformational Charlie-1 well in February. Charlie-1 will appraise BP's 1991 Malguk-1 well, which encountered oil shows across multiple horizons but was not tested due to operational complications. Charlie-1 will intersect seven stacked targets, with a total gross mean prospective resource of 1.6bnbbls (480mmbbls net to 88 Energy). As part of farm-out to Premier Oil, Premier will fund the cost of the well up to a cap of US$23m. With everything on track for a February spud, we look forward to one of the most anticipated onshore wells in 2020. We maintain our 4.8p price target and our BUY recommendation.

Companies: 88 Energy
  • 24 Jan 20
WHI First Light: Getech (GTC) & Norman Broadbent (NBB)

Getech (GTC) – Corporate – Strong order book, forward sales and cash growth but FY 2019E outturn anticipated below expectations Getech provides geoscience and geospatial products and services to companies and governments to de-risk exploration programmes and improve their management of natural resources. This morning, the group has announced that whilst it has seen strong growth in both its new forward sales and order book at +41% and +48% respectively (New forward sales totalling £2.4m and an Order book of £3.1m), a number of anticipated substantial orders did not close by the end of December 2019. As such, FY 2019E revenue is now expected to be c.£2m lower than the prior year, whilst lower costs and the continued focus on driving efficiencies across the business has cushioned the impact to a degree at the EBITDA level. Norman Broadbent (NBB) – Corporate – Full year update – Breakthrough milestone with return to profit in FY2019 – confirms H1 trajectory This morning's update from NBB highlights positive momentum with, we believe, further upside as the turnaround continues. Having generated a small profit in the first half, NBB has now achieved the further feat of making a profit in the whole of 2019, confirming the encouraging trajectory which has taken the company from a £1.6m loss in 2017 to profitability. Revenues are up substantially at £11.5m (+22%); Net Fee Income ahead by a similar degree (£7.6m, +15%). PBT is not specified but has clearly built on the modest but promising £0.016m generated in the first half – this despite NBB generally being a first half-weighted company and indeed H2-19 an uncertain period generally due to political and economic uncertainty.

Companies: Getech Group Norman Broadbent

  • 21 Jan 20
Oil & Gas flash note

Union Jack’s bullish position on Wressle has been validated by the recent grant of planning consent for the project, and represents another key share price catalyst for the Company ahead of a potentially transformational year ahead in our view. Wressle is slated to come onstream this Summer contributing c.US$3m of annualised revenues net to the Company. After taking operating costs into consideration, SPA est. US$8-10/bbl, such revenues would propel Union Jack into a material cash generating oil production company. We reiterate our STRONG BUY rating and 0.70p TP.

Companies: Union Jack Oil