Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Karelian Diamond Resources. We currently have 18 research reports from 3 professional analysts.
Amryt Pharma (AMYT.L) | Ariana Resources (AAU.L) | Karelian Diamond Resources (KDR.L) | Solo Oil (SOLO.L)
Companies: AMYT AAU KDR SOLO
Karelian Diamond Resources (KDR.L) | Kibo Mining (KIBO.L) | Bodycote (BOY.L)
Companies: KDR KIBO BOY
AfriTin Mining—Demerger from Bushveld Minerals (BMN.L). Offer TBA. Due 6 Nov. The Uis Tin project (Namibia) is considered the flagship tin asset within the portfolio, as this was once the largest open cast tine mine of its kind in the world . Novacyt S.A.—Sch1 from the international diagnostics group, generating revenues from the sale of clinical products used in oncology, microbiology, haematology and serology testing. Offer to raise £8.8m at 59.38p with a value of £22.4m. Expected 01 Nov. Footasylum Ltd—UK-based fashion retailer focusing on the branded footwear and apparel markets announced its intention to seek admission to AIM. Expected value between £130m and £150m. Due Nov 2017. Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec. OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. Orogen plc, to be renamed Sosandar plc on Admission. Sosandar is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. Offer to raise £5.3m with market cap of £16.1m, expected 2 November 2017 OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected late October .
Companies: KDR K3C PHO SYM DRV RENE NSCI XPD ATQT
Bushveld Minerals (BMN) 9.5p, mkt cap £77m – Restatement of JORC tin resources in CPR for AfriTin listing BUY – Target price 14p | Kibo Mining (KIBO LN) 5.3p, Mkt cap £21m - ESIA Certificates Awarded in Tanzania | Karelian Diamonds (KDR LN) 0.5p, £2.9m - Additional exploration licence in Finland
Companies: BMN KIBO KDR
Altus Strategies (ALS.L) | Ferrum Crescent (FCR.L) | Hummingbird Resources (HUM.L) | Karelian Diamond Resources (KDR.L) | ASOS (ASC.L)
Companies: FCR HUM KDR ASC
Bushveld Minerals (BMN.L) | Karelian Diamond Resources (KDR.L) | Stellar Diamonds (STEL.L) | Saga (SAGA.L)
Companies: BMN KDR STEL
Amur Minerals* (AMC LN) – IKEN/KUB drilling update and management estimates for potential resource expansion | Avocet Mining (AVM LN) – Creditor discussions continuing | Bushveld Minerals (BMN) BUY, Target price 14p – £8m convertible bonds issue | Karelian Diamonds (KDR LN) – Indicator minerals suggest a nearby kimberlite | Savannah Resources (SAV LN) – Resumption of drilling at Mina do Barroso | Sunstone Metals* (STM AU) – Bramaderos project shows significant gold intersections in Ecuador | Stellar Diamonds (STEL LN) – Confirms environmental payment for Tongo
Companies: AMC AVM BMN KDR SAV STEL
Jubilee Platinum (JLP.L) | Karelian Diamond Resources (KDR.L) | Hutchison China MediTech (HCM.L)
Companies: JLP KDR HCM
Karelian Diamonds (KDR LN) – Exploration licence adjacent to Lahtojoki mining permit | Landore Resources (LND LN) – Drilling programme at Junior Lake | Petra Diamonds (PDL LN) – Flagging a shortfall in FY 2017 production guidance
Companies: KDR LND PDL
Following Thursday’s celebrations, confidence flagged somewhat in the overnight markets. European and Asian equities had raced higher yesterday on the back of a more dovish than expected tone from Janet Yellen, a recovery in mineral/commodity prices and a firm rejection of populism from the Dutch election. The Stoxx Europe 600 rose 0.7% to its highest close since December 2015, led by mining and oil companies, while the internationally-traded Hang Seng spiked back to levels not seen for two summers. By mid-afternoon, however, the US$ had retreated on slower rate-increase expectations, as Donald Trump revealed plans to slash environmental and foreign aid budgets to fund increased military spending. In his first budget, the President outlined proposals to cut more than US$10bn from the Department of State and USAID, an agency which works to fight poverty across the globe. His ‘America First’ draft meanwhile set aside US$639bn for the Department of Defense, a US$52bn year-on-year increase and the largest since Ronald Reagan was in office, while trimming the Department of Health and Human Services' funding by 18% (US$15.1bn) and education by 13% (US$9bn). These big numbers rather took the puff out of US equities, as analysts pointed to the Health-care sector as the obvious loser given increased expectation of higher regulatory costs and cuts in federal funding, while Energy stocks also suffered as US crude prices retreated below US$50 once again. This meant the three principal US equity indices ended fractionally mixed after a rather anticlimactic session as Treasury Secretary, Steve Mnuchin, insisted the Trump Administration did not want a trade war but was determined to rebalance unfair international trading relationships. Investors may hear more from him on this later today, when he attends a gathering of the world’s G20 finance chiefs. Asian equities ended similarly mixed with mostly just small moves, as traders foresaw new pressure from Mnuchin to boost the value of what his President considers deeply unvalued currencies. Yesterday was also the Bank of England’s turn to surprise a little. Not that it changed its base rate, but the fact that one official dissented in favour of higher borrowing costs while others hinted it might not be long before they do the same. This unexpectedly hawkish signal comes as Theresa May prepares to trigger divorce talks by the end of this month, while inflation is almost certain to breach the BoE’s target 2% level in the first half and possibly exceed its projected 2.4% peak in the second. That said, market consensus remains for no change to UK rates throughout 2017 while sensitive Brexit negotiations get underway, even if it was enough to see the Pound recover a little and Gilt yields rise. UK macro releases due today are limited to the BoE Quarterly Bulletin, while the EU produces January Trade Balance and Construction Output figures. The US is scheduled to release Industrial Production, Capacity Utilisation and the Michigan Consumer Sentiment Index. UK Corporates due to report earnings or trading updates include Sthree, Berkeley Group, Goodwin and Investec. Traders will also be listening out for any feedback from the meeting scheduled for President Trump and Chancellor Merkel in the company of various of Germany’s industry giants; the US$65bn trade deficit and apparently engineered weakness of the Euro will likely be the focus points. Such a mixed bag of sentiment drivers is likely to mean London equities open unconvincingly this morning, with the FTSE-100 giving back some of yesterday’s gains after having rallyied to a new record close. The index is seen down 10 points in opening trade.
Companies: JLP KDR BBY SBRY
Karelian Diamonds (KDR.L) | Europea Metals Holdings (EMH.L) | M&C Saatchi (SAA.L) | EMIS Group (EMIS.L) | F W Thorpe (TFW.L) | Regency Mines (RGM.L) | Stilo International (STL.L) | Diurnal Group (DNL.L) | IMImobile (IMO.L) | Rotala (ROL.L)
Companies: KDR EMH SAA EMIS TFW RGM STL DNL IMO ROL
"Federal Reserve Chairwoman Janet Yellen may be gearing up to raise short-term interest rates at March's FOMC policy meeting after all. While Fund Futures had suggested a June rise was more likely, her optimistic note during yesterday's semi-annual testimony to Congress nevertheless meant that equity traders took the news in their stride while the US$ spike higher. Suggesting that it would be 'unwise' to delay, she painted a largely upbeat picture of the U.S. economy in her first congressional testimony since President Trump took office, noting employment gains in recent months plus higher wage growth, was "a further indication that the job market is tightening". Inflation meanwhile has moved closer to the Fed's 2% objective, while the December personal-consumption expenditures price index moved up 1.6% from a year earlier, a rate last seen in September 2014. Similarly in the UK, yesterday's January CPI figures confirmed the fastest annual rate in 30 months, driven by the Pound's tumble following Brexit, although the figure itself emerged marginally below expectations and led to a minor sell-off of Sterling as rate hike expectations receded somewhat. That said, an increasing school of thought suggests UK inflation may be allowed to rise above the BoE's own 2% CPI target and 'run hot' through most of 2017, assuming it does not breach the 3% level, for fear of Governor Carney otherwise stifling economic momentum during forthcoming Brexit negotiation. The overnight markets accordingly all made further convincing gains, with all principal US markets rising similarly, led by financials and tech stocks as both the S&P500 and NASDAQ chalked-up their sixth consecutive upward moves. Asia went even further, with the Nikkei initially leading the surge as US$:Yen touched a new monthly high, although most other bourse in the region rapidly caught up to close with similar 1% or thereabouts gains, leaving only the Shanghai Composite to end in the negative as fears regarding looming US protectionist measures were resurrected once again. Wednesday will see another large batch of macro releases, with the UK due to detail Average Earnings and Unemployment, while the EU publishes its December Trade Balance and the US delivers its Retail Sales and CPI. No significant earnings or trading updates are anticipated from UK corporates this morning, although some second-liners like Animalcare Group (ANCR.L), NEX Group (NXG.L), QinetiQ Group (QQ..L) and Tracsis (TRCS.L) are scheduled. In the absence of other significant news, London is set to follow the international trend, rising broadly from this morning's opening with the FTSE-100 seen up 20 to 25 points in early trade." - Barry Gibb, Research Analyst
Companies: KDR AERO GSK HZD HCM
Xafinity –Publication of prospectus. The pensions actuarial, consulting and administration business has conditionally raised £179.6m. At 139p. Due to join main market 16 Feb. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Companies: KDR APQ HAWK PLMO ANCR HSP AFC TRCS LION TOU
"Might the ECB finally call an end to its easy-money policies this summer? Business and consumer confidence was stronger than expected in January according to the European Commission’s Economic Sentiment Indicator. Rising to 108.2 from 107.8 in December, it beat consensus reaching its highest level since March 2011. With household pricing expectations now also at their highest in three years and Germany’s January inflation rate back to its mid-2013 peak of 1.9%, just fractionally below the ECB’s Eurozone target of 2%, calls to begin tapering stimulus and/or cut interest rates are getting louder. The ever-cautionary ECB will, no doubt, point out that recent data has largely been driven by energy costs and will demand more evidence from good and services before being convinced to change policy, for fear that otherwise it might simply stifle a nascent recovery. But market watchers are becoming increasingly aware that most corners of the world are signalling higher consumer prices and, although not exactly ‘trigger happy’, central banks will be determined not to be found ‘behind the curve’. Against such a background, Trump now needs to pull the next rabbit out of his hat, possibly by starting to detail tax-cutting plans or provide a genuine programme for deregulation, in order to keep US equities moving ahead. Although more than 100 US majors, including Facebook, Apple and a number of O&G groups, are due to report this week, investors concerned for the wider ramifications of the President’s selective anti-immigration stance sold US equities and the Dollar off quite sharply yesterday. All three principal US indices declined similarly, with the Dow Jones closing below the 20,000 level. This morning’s Asian trading saw the ASX following the US lead with minerals groups being targeted for profit taking once again, while the Nikkei ended even further down as the Yen:US$ touching 113.25 following the BoJ’s decision to keep policy unchanged while holding off from formally raising its forecast for consumer prices. A good batch of macro data is due from the UK this morning, including the GfK consumer confidence barometer which reportedly ticked up 2 points against expectations polled by the Wall Street Journal of a 1 point decline; other releases due mid-morning include December Consumer Credit and Mortgage Approvals, while shortly after the EU details GDP, Unemployment and CPI for January. A speech from ECB President, Mario Draghi, first thing will also be keenly listed to for any hints on prospective policy, while later the US provides January Consumer Confidence figures. UK corporates due to release earnings or trading updates include Carpetright (CPR.L), CYBG (CYBG.L), Joules Group (JOUL.L), Ocado (OCDO.L), SCS (SCS.L), Severn Trent (SVT.L) and SSE (SSE.L). London is seen recovering modestly from yesterday’s sell-off, with the FTSE-100 rising some 10 points in early trade. " - Barry Gibb, Research Analyst
Companies: Karelian Diamond Resources Nu-Oil And Gas
"Those hoping the President-elect's first news conference would convey a more considered and expansive approach to his forthcoming period in office were left disappointed. The media, on the other hand, had a field day with his dismissal of claims that Russia holds compromising intelligence on him, clashes with reporters, comparing intelligence agencies to Nazis and admitting Mexico may not pay for the wall after all, while opening his new administration up to charges of nepotism and conflict of interest. The absence of any new detail regarding his planned fiscal stimulus knocked the US$ back, while his repeated determination to reform the bidding process to ensure drugs are bought on a more economical basis, possibly including new import tariffs while offering no guarantees on Obamacare, saw health-care stocks become the day's principal casualty. The Dow Jones swung 140 points high to low during the session, dipping into negative territory while Trump was speaking, before all three principal US indices closed with modest gains. This morning's Asian trading ended largely in the negative, with the Nikkei hurting the most due to the Yen's re-strengthening, while Chinese equities were weaker in the absence of any relaxation Trump's apparently hard line on trade with the US. With T-bills climbing somewhat on Wednesday following a successful US$20bn 10-year note auction, attention will likely revert to the Fed Chair, Janet Yellen, and any view she might details regarding building inflationary pressures, in a speech she is due to make this afternoon. Today the UK will see release of the Halifax House Price Index Regional Breakdown, while the EU is due to publish November Industrial Production figures and the US details Initial Jobless Claims. With the results season now underway, the UK will also see a number of corporates publishing earnings or trading updates, including Associated British Foods (ABF.L), AO World (AO..L), ASOS (ASC.L), Barrett Developments (BDEV.L), Debenhams (DEB.L), Dunelm (DNLM.L), JD Sports (JD..L), M&S (MKS.L), Moss Bross (MOSB.L), Mothercare (MTC.L) and Tesco (TSCO.L). Without significant lead from the overnight markets, London is expected to open just modestly weaker with the FTSE-100 seen down some 10 points in opening trade this morning, having hit a fresh all-time high yesterday and setting a record for the longest uninterrupted 12-day rise in its history. Traders will also be listening for additional detail regarding Shire's (SHP.L) reported US$350m settlement in this US against allegations it used kickbacks to promote a skin substitute product." - Barry Gibb, Research Analyst
Companies: KDR TYM VAL EVG JOUL MCL TW/
Research Tree provides access to ongoing research coverage, media content and regulatory news on Karelian Diamond Resources. We currently have 18 research reports from 3 professional analysts.
|18Dec17 11:53||PRN||Holding(s) in Company|
|18Dec17 11:49||PRN||Holding(s) in Company|
|15Dec17 11:53||PRN||Holding(s) in Company|
|29Nov17 07:00||PRN||Final Results & Notice of AGM|
|14Nov17 07:00||PRN||Promising New Exploration Data|
|06Nov17 07:00||RNS||ESM - Cancellation Notice|
|27Oct17 07:00||PRN||Exploration Permit Granted|
Updated Lincoln resources to 604mmboe of 2C (previous assumption 150mmbbl of best estimate prospective resources); Updated Halifax resources to 1,235mmboe of 2C (previous assumption a notional 100mmbbl of best estimate prospective resources); Added in Warwick at 935mmbbl (previously this was included in our 150mmbbl for Lincoln).
Companies: Hurricane Energy
Hurricane has published this week an updated competent person’s report (CPR) on its West of Shetland fields not previously included in the 2017 Lancaster CPR. The report by auditor RPS Energy covering the Halifax, Lincoln, Warwick, Whirlwind and Strathmore fields confirms over two billion barrels of oil equivalent contingent resources (Hurricane 100% interest) across these fields, with a further 935mmboe of unrisked prospective resources recognised for the (as yet undrilled) Warwick prospect.
Companies: Hurricane Energy
The Forties system could be shutdown for weeks for unscheduled repair work. This impacts a total of 10 mboe/d production from the Balmoral area, Elgin Franklin and other minor E.ON fields which represent about 13% of the company overall FY17 daily average production.
Companies: Premier Oil
In the October edition of the Hardman Monthly newsletter, Chief Executive, Keith Hiscock analyses the much misunderstood – but highly important – issue of stock liquidity. In particular, he focuses on the lower echelons of the Main Market and of AIM.
Companies: OPM ABZA AVO AGY APH ARBB AVCT BUR CMH CLIG COS DNL EVG GTLY MCL MUR NSF OBT ODX OXB NIPT PHP PURP RE/ RGD SCLP SPH SCE TRX VAL
The KSR-16 development well on the Sebou permit encountered 14.2 m of net gas pay in the Hoot formation. The Company expects that the well will be connected to the existing infrastructure and placed on production within the next 30 days. The drilling rig will now move to the ELQ-1 prospect on the Gharb Centre permit and drill the first commitment well on this recently acquired licence. The recently completed KSR-15 well has been connected to the existing infrastructure and it is anticipated that test production will commence early next week.
Companies: SDX ENERGY
Parkmead reported a gross profit for the year to June for the first time in three years. That reflected the benefit of a strong performance from its Dutch operations and the elimination of the drag caused by Athena. Cash and net cash held up well at £26.4m as of 30 June. The company reported a loss per share of 5.0p a substantial improvement on the previous year. Reserves and resources were up marginally YoY at 89.7mmboe as of 30 September. Parkmead further increased its ownership position in four key positions including the Greater Perth Area where the company progressed commercialisation. Parkmead continues to evaluate acquisition opportunities including analysing alternative energy based acquisitions. We have reduced our estimate for negative EPS prospectively but also reduced our Target Price to 70p per share (from 80p). That is still double the current share price which is 80% backed by cash on the balance sheet and Parkmead’s stake in Faroe.
We take another look at lithium, where there is a growing realisation that the forecast massive increase in demand is already upon us. This realisation has been matched by an awareness that there is no shortage of lithium in geological terms. However, there is still a considerable degree of ignorance about which types of lithium mineralisation are commercially valuable using current processes and technologies; this will require the development and proving of new processes. In this note, we look at what attributes are required for a lithium-bearing deposit to be attractive for development into a successful mine in the present technical and economic environment.
Companies: APF ACP ATYM ASO BKY CAML FDI GEMD HZM PAF PDL SAV SHG WTI WLF
Eland’s results for 1H17 were heavily impacted by the accounting treatment of the shipping alternative, which characterised most exports during the period. The company reported EPS of US$0.04 (1H16 US$0.06). Production uptime since the restart of exports via Forcados remains excellent while production is on track to increase by approximately 50% in October to 18kbd, gross, once the Opuama-7 sidetrack comes onstream. On completion of operations at Opuama-7, Eland will either proceed with the Gbetiokun-1 re-entry or may commence an infill drilling programme on the Opuama field. In any event, production looks set for continued rapid growth, delivering on the promise management has set out. We reiterate our Buy recommendation and 120p/share Target Price.
Companies: Eland Oil & Gas
Since its inception in 2010, the Panmure Gordon Conviction List has outperformed the market, returning 278% against a Small Companies index that would have returned 232% over the same period. Our Q4 portfolio reflects our view that the UK equity market stands to benefit from a coordinated upturn in global growth. Low nominal fixed income spreads continue to provide a valuation underpin for global equities. There are increasing signs that the world’s central bankers are making a concerted effort to wean markets off near zero interest rates. However with global debt exceeding 200% of GDP and unfavorable demographic trends, we think their chances of rapid progress are slim.
Companies: CPI CTH CINE JE MJW NOG RPC VM/ XAR
Highlights this quarter: Economics: Generally, the data points to modest growth continuing, with a more positive trend in PMI surveys suggesting decent m manufacturing momentum over the next six months. Currency weakness continues to be a double-edged sword for U K manufacturers, with exporters gaining competitiveness while input prices have risen. There has recently been a divergence of sterling’s performance against the euro and the USD. Those in commodity or competitive product areas may well have seen margin erosion, while many in intermediary goods have already passed on price increases to their customers. With low unemployment, the prospect of tighter labour markets post-Brexit and public sector pay caps starting to come off also signals the potential for some labour inflation, long absent from the UK industrial scene. Topic of the quarter: We believe that powerful macro and sectoral pressures will drive further significant changes to the manufacturing supply chain over the next few years. We investigate some of these pressures, with the move to outsource suppliers to low- cost centres, like China, now seeing a slight reverse flow with some restoring to shorten complex and often inflexible supply chains. We see systems technology facilitating greater supply-chain control and efficiency. Brexit will present challenges to the UK supply chain with price and time to market barriers likely to rise, presenting challenges to the UK’s highly integrated and time-sensitive supply chain. Slick distribution infrastructure and greater information sharing with suppliers are likely to prove winning strategies in optimising logistics and gaining stock efficiencies. Sector valuation: The industrials sector has continued to exhibit strength, with small-cap industrials outperforming by 2 % on last year and larger cap industrials by 17%. Currency and improving economic data have been a positive for the sector. While some other sectors have seen a pick-up in profit warnings over recent months, industrial technology companies have announced generally positive or in-line trading updates that have helped to drive the small-cap Industrials to an EV EBITDA of 8.4x and a P/E of 16.7x with the traditional small-cap discount narrowing.
Companies: SIXH ACL AXS AMPH ALU AEP AVG CAPD CAR FENR FLO RAD GHH HDD IOF MPE RE/ RNO RBN SOLI SOM SCE TRI VANL VEL ZAM TRT
BCA Marketplace and stevia sweeteners developer Purecircle are the latest former AIM companies to be moving into the FTSE 250 index. The changes take place on 18 December and will take the number of former AIM companies in the FTSE 250 to 20 – although Booker and Paysafe are being taken over.
Companies: CFHL TRAK BMN BXP TRCS SND
The new management team despite only being appointed earlier this year has rapidly brought about the start of a material turnaround which we expect to unlock significant unrealised potential at Columbus Energy Resources (CERP)# . The new team has announced an achievable growth strategy, strengthened its financial position with institutional support from Schroders and begun to deliver tangible operational improvements.
Companies: Columbus Energy Resources
Vestas and the Swedish battery manufacturer of the future Northvolt announced a technology collaboration on the development of a lithium-ion battery platform for Vestas power plants. This cooperation will definitely add value for the customer and extend the value chain of the company. Large energy storage solutions are required to reduce the output volatility of renewable energy. The storage systems will support the large-scale integration of renewable energy into the energy system and stabilise the production output.
Companies: Vestas Wind Systems
Eland reported a net loss for FY15 of US$6.8m, less than half that of FY14, on higher revenue and lower costs. After deducting non-controlling interests, the company generated earnings per share of US$0.13 (FY14 US$0.07), well ahead of our US$0.08 estimate. Following the successful US$18.5m equity raise, Eland could exit this year with net production of around 10kbd, on completion of the Gbetiokun and Ubima Early Production Systems (EPS). The FY16 revenue outturn remains subject to restart of the Forcados export system, expected in June. We are buyers of Eland with a 95p/share Target Price.
Companies: Eland Oil & Gas
Rigid-plastic-products manufacturer and waste-management services provider One51 is holding a general meeting on 21 April to gain the shareholder approvals required to issue shares for a potential flotation on AIM and the Enterprise Securities Market (ESM). In 2014, Ireland-based One51 paid 78p a share in cash for AIM-quoted Straight, which valued the wheeled-bins manufacturer at £10.7m. One51 subsequently bought a controlling stake in Canadian plasticproducts business IPL. A flotation would trigger a deal to swap One51 shares for the one-third of IPL that it does not currently own. The plastics division is the main focus of expansion. One51 is a substantial business. In 2015, revenues grew from €276.5m to €366m, while underlying profit almost doubled from €16.2m to €31.9m. A full 12-month contribution from IPL would have taken revenues to €473.5m and grown profit even more rapidly. Plastic products generate nearly two-thirds of revenues and a greater proportion of profit. Net debt was €120m at the end of 2015 and there is contingent consideration of more than €33m that could become payable. Numis and Davy have been appointed as advisers for the flotation, which is still dependent on market conditions. Although One51 is unlisted there has been regular trading in its shares since 2007 and by the end of March the shares were changing hands at €1.70 each.
Companies: PIER MAI 7DIG TAP MANX KBT TRCS ADT BLV AST