AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this Spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5 million. The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission. Virgin Wines UK Plc recently set out their plans for an AIM IPO. Virgin Wines is a direct-to-consumer online wine retailer that sells products to retail customers in the UK through two subscription schemes and a pay-as-you-go offering. The Group also sells a range of beers and spirits and operates a B2B sales channel for corporates. Deal details TBC but media reports suggest a £100m valuation. Targeting 2nd March Admission Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo, are expecting to release their IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.
Companies: CCS OKYO SML BEG SBIZ GDP SGM SEN AMO KZG
Goldplat today announces an operational update from the period ending December 2020. In the six months, Goldplat generated an operating profit of £3.0m: £2.2m from South Africa and £0.8m from Ghana. Operations in Ghana continue to drive improvements with operating profit up 5x from the same period last year.
Companies: Goldplat plc
Premium
Pineapple Power, a special purpose acquisition company to seek and acquire businesses in the clean energy sector, has Joined the Main Market (Standard) raising gross proceeds of £1,316,010 (PNPL.L) Vector Capital (VCAP.L) has joined AIM, a commercial lending Group that offers secured loans primarily to businesses located in the UK. Substantially all of the Group's loans are secured by a first legal charge against real estate. The Group's customers typically borrow for general working capital purposes, bridging, land development and acquisition. As of 30 September 2020, the Group had a loan book of £34.7m, with an average loan size of approximately £0.57m. Raised £3.1m at 38p. Mkt Cap on admission £16m. Reverse take-over under rule 14 by MelodyVR (AIM:MVR) Group of Rhapsody International, trading as Napster. Napster is now a wholly-owned subsidiary of MelodyVR Group. The enlarged group will combine the service offerings of MelodyVR and Napster, offering music fans a consolidation of music artist's repertoires including recorded music, short form video content, long form video content, digitally ticketed live streams, educational videos and immersive AR/VR content, into one premium subscription product. Raising $10.1m. Market cap £92.4m at 3.75p. Eddie Stobart Logistics (ESL.L) has converted to an AIM investing company. Name change to Logistics Development Group. Focus sectors: logistics, transport, warehousing and e-fulfilment assets. £9m raised via a placing and subscription and up to £7m via open offer. Market cap c.£35.1m. Horizon Discovery has cancelled its AIM listing. Formation Group has left the Aquis Stock Exchange.
Companies: ZPHR MSMN NCCL IDE CIC GFM SRE GWMO JOG GDP
Goldplat today provides us with its preliminary results for the year ending June 2020. As previously reported, this was a strong year for the company as it capitalised on its change in strategy away from mining and exploration to refocus on its core capabilities in gold recovery from a wide variety of wastes produced as a result of gold mining and processing. Significantly, the Kilimapesa mine in Kenya was disposed of in year (details to be finalised) with Goldplat exposed to any future upside. The P&L and balance sheet have been restated for 2019 due to the focus on the gold recovery but we see no implications for cashflow arising from this; and Goldplat still shows a significant amount of cash relative to its market cap. Headline PBT for 2020 was £5.7m (2019 restated £1.1m) with gross cash at end of period of £3.1m (£2.4m). With a current strong gold price environment and an improved sight of gold processing contracts we expect 2021 to be a more profitable, and cash generative year.
Beowulf Mining (BEM LN) – Wolf Mountain Geophysics Results Define High Priority Drill Targets | Chaarat Gold* (CGH LN) – Buy, 57p – $20.5m refinancing completed | Goldplat (GDP LN) – Quarterly results indicate progress in South Africa and Ghana | Kavango Resources (KAV LN) – Mineralogical study and sample analysis indicates presence of primary magmatic sluphides | KEFI Gold and Copper* (KEFI LN) – Q3 update highlights Tulu Kapi funding progress and Hawiah maiden resource/PEA | Power Metal Resources* (POW LN) – Drilling contract signed at Canadian silver project
Companies: BEM CGH GDP KAV KEFI POW
Goldplat the processor of gold-bearing wastes and residues from mining operations today reports on its first quarter ending Septe2020. As expected the company continues to maintain robust operating profits from its South African operation (£1.12m, up from £1.07m in the same period last year) and an increased operating profit from its Ghana operation (£0.28m up from £23k). Goldplat is in the process of selling its Kilimapesa gold mine in Kenya which contributes small operating losses to the Groups overall performance with the sale expected to finalise by the end of December.
Goldplat today provides an update on the sale of its Kilimapesa asset in Kenya. The sale process continues with many of the conditions already met and with the parties now agreeing to extend the period of exclusivity until the end of December 2020.
Goldplat today provides an update on the proposed sale of its Kilimapesa gold mine in Kenya. Further to the announcement on the 3rd July of the sale, Goldplat can confirm that the ultimate buyer of Kilimapesa will be Papillon Holdings plc (LSE:PPHP) through Mayflower Capital Investments Pty, subject to the appropriate regulatory and shareholder approvals and a minimum raise of $4m to fund the development of Kilimapesa's operations. A £50,000 exclusivity fee has been paid to Goldplat and Mayflower's team are on site completing due diligence and over-seeing the start-up of the plant. The fee to Goldplat of $1.5m, payable in shares, remains the same.
AEX Gold (AEXG.L) has joined AIM alongside a £42.5m placing at 45p. Mkt Cap £79.7m. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering 3,356 square kilometres, in the two known gold belts in Southern Greenland, the Nanortalik and Tartoq gold belts. Nalunaq is a high-grade gold asset with an updated Inferred Mineral Resource covering 422,770 tonnes at 18.5 grams per tonne of gold, or 250,970 ounces of gold, which covers the area in and around the historical mine. AEX has an existing listing on the TSX Venture Exchange
Companies: PYC THR PRP GDP YOU BBB MRL ONC RENE
Goldplat announces that it has agreed a sale for its Kilimapesa Gold mine, currently on care-and-maintenance, in Kenya. Under the binding Term Sheet, Goldplat will sell the mine to Mayflower Capital Investments Pty Limited for USD1.5m in Mayflower Shares plus a 1% Net Smelter Return royalty capped at USD1.5m. Mayflower will look to list Kilimapesa in London and will seek to raise USD4m to recapitalise the business properly. Goldplat will keep its shares in Mayflower in escrow for 12 months.
European Metals Holdings today announce that a support and financing agreement with EIT InnoEnergy, the principal facilitator and organiser of the European Battery Alliance has been agreed. This agreement is to help progress at the large Cinovec Lithium project in the Czech Republic, a JV for which has just been set up between European Metals Holdings and the large Czech utilities Group CEZ to fully fund the project through Feasibility and to a construction decision. Goldplat today provides an update on its Q4 2020 and the end of its financial year (FY2020). Despite the best efforts of COVID Goldplat has had an excellent year. Overall business units in Ghana and South Africa have seen an increase in profit levels, and losses have been stemmed from the Kilimapesa mine in Kenya which is now on care-and-maintenance. Cash at the end of June was £3.2m. Digitalbox is an AIM-quoted digital publishing company, currently owning two distinct digital media assets and with a scalable platform to grow through acquisition. This morning the group has provided a trading update for the six month period to 30 June 2020. H1 2020E revenue is reported to be flat against the prior period on a comparative basis at c.£1.0m, reflecting increased audience volumes being offset by the well-publicised fall off in digital advertising pricing. However, despite this present backdrop, H1 2020E adj. PBT is anticipated ahead of management's expectations due to a strong margin performance in the period; this driven by changes made to improve operational efficiencies. Encouragingly, as at 30 June, the cash balance has increased by £0.6m to £1.2m. With this morning's announcement, NBB has confirmed that the thorough overhaul of the company in recent years has continued to bear fruit notwithstanding the pandemic. Notably, the news that the company has been EBITDA positive in H1 is a tribute to the proactive actions taken by the management in (1) building new businesses which now make up more than half of the group, and which continue to progress, (2) taking out significant costs, and (3) developing tailored solutions for clients which incorporate all of the separate business strands as required. We view the achievement in a particularly positive light since the market for Executive Search has been challenging as a result of the global Covid situation.
Companies: Goldplat plc (GDP:LON)Norman Broadbent plc (NBB:LON)
Gold – Robust pricing, improved returns and increased interest The robust gold price, currently sitting comfortably above $1,700/oz, has been one of the bright spots of the current COVID crisis, although the roots of the price increase were seen well before from mid-2019 on geopolitical and trade concerns. Gold mining companies have been reaping the rewards of the higher price with forecast profits and cash expected to grow significantly. The increase in gold price has been reflected by share price appreciation for most of the gold-mining sector; gold miners, those companies developing gold projects and even gold explorers have all seen an uptick in share prices. Those companies in production should see considerably higher profits and we expect the level of dividends back to shareholders to rise. The rate of M&A in the sector might also increase, as in previous high price periods, with some companies assuming that these prices can be sustained – however, they will have to be careful as a rash of M&A in previous cycles has shown that there may be a price to pay later on and the industry can ill afford a return to eye-wateringly large write-downs on the other side of this cycle. Gold miners will also have to behave prudently as there will, of course, be a temptation for higher throughput and production, regardless of grade, to generate more cash – a decreasing profit margin perhaps, but a lengthening mine life; as in everything there is a balance to be made to ensure sensible returns. We are most heartened by a renewed interest in the previously (seemingly) ignored junior explorers which we think is a theme that will develop and continue.
Companies: AEE CMCL CNG GDP JLP
Goldplat, the gold recovery company, today provides an operational update for the quarter ending March 2020 (FY Q3). Operating profit from the South African and Ghanaian recovery plants was £1.0m in Q3, which was slightly offset by a small loss at the Kilimapesa mine in Kenya of £0.2m; the mine is on Care-and-Maintenance. This saw a 9 month operating profit overall of £3.3m which is a significant improvement on the same period last FY where operating profit was (0.3)m.
Goldplat, which provides gold recovery services, today provides an update on its operations following the order from the South African Government to place operations on Care-and-maintenance for 21 days.
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UK railway privatisation, which was launched in the mid-1990s, has finally turned full circle: the Department of Transport has recently confirmed that its controversial railway franchise system will be scrapped. In this month's feature article, Nigel Hawkins, the Infrastructure analyst at Hardman & Co, examines the 25-year history of railway privatisation and chronicles its ups and its downs. The successes of railway privatisation, such as new rolling stock, are addressed, along with the many shortcomings, which included minimal vertical integration. With the winding up of the franchise system, the UK railway sector is effectively reverting to its former status as a nationalised industry, a shift started with the renationalisation of the collapsed Railtrack – later re-badged as Network Rail – in 2001.
Companies: ARBB BBGI CLIG DNL FLTA ICGT OCI PCA PIN PXC RECI SCE TRX SHED VTA YEW
Shanta Gold (AIM: SHG), the East Africa-focused gold producer has, this morning, released its full year results for 2020. The company previously announced production and operational figures for 2020 alongside group-wide reserves and resources update. As such the figures reported today are in line with our forecasts down to EBITDA level, but generally better than expected elsewhere– see Fig 1. Overall it has clearly been a strong year financially with revenue, EBITDA and EPS up by 31%, 34% and 270% respectively from the previous year. The company has also kept to its promise of a maiden dividend with 0.10p per share payable in April as part of a semi-annual programme.
Companies: Shanta Gold Limited
Proposed move to AIM from the main market (standard) by Emmerson (EML.L) to provide Emmerson with access to a market and environment which is more suited, in the Board's view, to the Company's current size and strategy ahead of pivotal period for the Company with the commencement of mine construction at the Khemisset Potash Project expected by end of 2021. Follows recent award of Mining Licence granting Emmerson exclusive right to develop and mine the potash deposit and £5.5m raise to fund ongoing project development work. Subject to EGM on 21st March. Rogue Baron plc have announced its application for admission to the AQSE growth market. Rogue Baron owns five subsidiaries, namely: Shinju Spirits, Inc., Shinju Whiskey LLC, Mazeray Corporation, STI Signature Spirits Group LLC and Legacy Retail Group LLC. The Company’s goal is to build each of its brands that makes them a buyout target. Deal size TBC an expected admission date 12th March 2021. Global review platform, Trustpilot has announced its intention to float on the premium list of the LSE. Trustpilot provides an open platform, which creates a place where businesses and consumers can gain actionable insights and collaborate. Consumers are able to share feedback, at any time, about any business with a website and review feedback left by other consumers. Total revenues were US$64.3 million, US$81.9 million and US$102.0 million for the years ended 31 December 2018, 2019 and 2020, respectively. The Offer would comprise new Shares to be issued by the Company (raising gross proceeds of approximately US$50 million to support Trustpilot's growth plans and repay indebtedness) and an offer of existing Shares to be sold by certain existing shareholders, directors and employees. Timing TBC. In The Style, the e-commerce womenswear fashion brand with an influencer collaboration model, announces their intention to float on AIM. In The Style is a pure-play e-commerce fashion brand with a l customer base of women predominantly aged between 16 and 35. Founded in 2013, the group has delivered £35.4 million net sales and £3.6 million Adjusted EBITDA in the nine months to 31 December 2020, with sales up 159% from £13.7 million for the nine months to 31 December 2019. Admission is expected to take place on or around 17 March 2021. Deal size TBC. Media reports video game firm, Catalis is mulling a London IPO, just over a year after being bought by a private equity firm. Catalis’s accounts are reportedly expected to show revenues increasing to £60m in 2020, up from £43m, with adjusted earnings of £15m. Deal details and timing TBC. tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5m. The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission. Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo is expecting to release its IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.
Companies: LND GDR GAMA SOLI SHED RLE CRU WRES SBI MNO
Today's news & views, plus announcements from MRW, BNZL, HICL, AGK, SEPL, SEIT, SDY, BGO, SHED
Companies: BGO SEIT SEPL
Lancaster activity update
Companies: Hurricane Energy Plc
Pantheon Resources has this morning announced that the better than expected well-logs from the Kuparuk formation warranted a change in plan for the testing of that formation, namely, from an open hole test to a more rigorous cased hole test (with a 4 ½ inch liner). However, due to equipment failures and technical issues, the formation started to become damaged in its current location and as such it was not possible to set the casing string (4 ½ inch liner). Accordingly, the company has made the decision to drill a new modestly angled sidetrack in the Kuparuk formation. It is estimated that the sidetrack will take 2-3 days to drill, some 650 feet through the Kuparuk formation, which should then allow a better testing operation. As a result of the cold weather in Alaska, the drilling season may be extended into early April.
Companies: Pantheon Resources plc
Anglo Asian Mining* (AAZ LN) BUY – H2/20 exploration work returns exciting results at Gedabek CA Bushveld Minerals* (BMN LN) - Strong Buy 31p – Vanadium prices rise as new demand meets tight supply Gemfields (GEM LN) – Resumption of operations at Kagem and Montepuez after a year of disrupted production and sales GoldStone Resources* (GRL LN) – Exercise of warrants raises £1.2m Power Metal Resources* (POW LN) – Portfolio update Strategic Minerals* (SML LN) – Continued access to Cobre confirmed while current copper prices boost Leigh Creek economic returns
Companies: GML AAZ BMN GRL POW SML
tinyBuild— a leading video games publisher and developer with global operations. tinyBuild's strategic focus is in creating longlasting IP by partnering with video games developers, establishing a stable platform on which to build multi-game and multimedia franchises is to join AIM. Offer details TBC. Due mid-March. AMTE Power, a developer and manufacturer of lithium-ion battery cells for specialist markets, announced its intention to seek admission to trading on AIM. Admission is expected to take place during March 2021. The Company intends to raise approximately £7m by way of a placing of new ordinary shares in the capital of the Company. Timing TBC. Samarkand Group Limited, the cross-border eCommerce technology and retail group opening up the world's largest market for brands and retailers, intends to IPO on the Apex Segment Aquis Stock Exchange Growth Market. Admission is targeted for March 2021. NextEnergy Renewables to launch an IPO on the Main Market. NREN is a differentiated renewables investment Company that aims to capture the most attractive private renewables and energy transition infrastructure investment opportunities globally. Targeting a £300m raise. NREN is targeting total returns of 9-11 per cent. per annum (net of all fees and expenses but including the Target Dividend and capital appreciation) . The Company's target dividend yield for the first full financial year to 31 December 2022 is 5.5 pence. Due Early March 2021. Digital 9 Infrastructure launch an initial public offering on the Specialist Fund Segment of the Main Market of the London Stock Exchange, by way of an initial placing and offer for subscription for a target issue £400m. Digital 9 Infrastructure plc is a newly established, externally managed investment trust. The Company will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The IPO Prospectus is expected to be published in March 2021. Team PLC announced their plans for an AIM IPO. Team owns Theta Enhanced Asset Management Ltd, trading as Team Asset Management. This is a Jersey-based active fund manager providing discretionary and advisory portfolio management services to private clients, trusts and charities. Assets under management were GBP291m in November, up from GBP140m in December 2019 . The Company is seeking to raise no less than £5m. The Placing will be priced on a pre-money valuation for the Company of £7m. Targeting March Admission. Fix Price announces its intention to float on the Main Market of the London Stock Exchange. Fix Price is one of the leading variety value retailers globally and the largest in Russia, with more than 4,200 stores. Fix Price has revenues of RUB 190.1bn, RUB 142.9bn and RUB 108.7bn for 2020, 2019 and 2018, respectively. Adjusted EBITDA for the same years was RUB 36.8bn, RUB 27.2bn and RUB 14.2bn, respectively. The Offer would consist of an offering of GDRs by certain existing shareholders of the Company. Great Point Entertainment Income Trust PLC announced its prospectus has been approved by the FCA. Great Point Entertainment Income Trust PLC is a newly established, externally managed closed-ended investment company. The Company will provide project finance to content makers and commissioners in the global television and film production industry via senior loans secured against pre-sold intellectual property (IP) rights. GPEIT's investment objective is to provide Shareholders with dividend income and modest capital growth through exposure to media content finance. According to media reports, Deliveroo, are expecting to release their IPO plans on 8th March. The company raised more than $180m in January with a valuation of more than $7bn.
Companies: ADME NFC CHAR WHR MKA IXI MOS D4T4 ALS TERN
Oil fell the most since November with a stronger dollar and concerns surrounding inflation weighing on crude's best start to the year on record. Futures in New York declined 3.2% on Friday, with a rising dollar reducing the appeal of commodities priced in the currency. Yet, the US crude benchmark still managed to post a nearly 18% gain this month as inventories worldwide tighten and pockets of demand return. Domestic crude production dropped in 2020 for the first time in four years, according to the US government. Crude prices have notched the largest year-to-date gain than in any year prior for the same time period, in part due to OPEC+ production curbs helping to deplete global stockpiles. Plus, the unprecedented cold blast that recently halted millions of barrels of US output means oil markets are about 100,000 barrels a day tighter than previously thought, according to JPMorgan Chase & Co. Supply scarcity may worsen in the coming months as North Sea fields undergo major maintenance. The Organisation of Petroleum Exporting Countries and its allies will meet next week to decide on output levels. While Russia has signalled it favours a further easing of production cuts, the country's oil output dipped below its OPEC+ target this month, meaning it failed to take full advantage of the more generous quota it was afforded after January's OPEC+ meeting. Prices: West Texas Intermediate for April delivery fell $2.03 to settle at $61.50 a barrel. The US crude benchmark rose 3.8% this week. Brent for April settlement, which expires on Friday, declined 75 cents to end the session at $66.13 a barrel. The contract gained 5.1% this week. The more actively traded May contract declined $1.69 to settle at $64.42 a barrel. Soaring bond yields on Thursday were the latest sign that accelerating inflation could trigger a pullback in monetary policy support that has helped fuel gains in risky assets during the pandemic. While global bonds have since stabilised, a less accommodative approach to monetary policy could have ripple effects across commodity markets.
Companies: FO 88E DGOC EME TRIN UOG
Today's news & views, plus announcements from SMDS, PSN, POLY, RIO, BIFF, SONG, HSX, PAGE, RLE, SHED
Companies: PSN RLE RIO
Concept select update
Companies: Jersey Oil & Gas PLC
Today's news & views, plus announcements from RIO, TW, CRDA, TPK, PHP, MGGT, SHI, WHR
Companies: PHP RIO SHI TPK
Arc Minerals* (ARCM LN) – Immediate appointment of Rothschild & Co as financial adviser Chaarat Gold* (CGH LN) – Fatal incident at Kapan in Armenia Kodal Minerals* (KOD LN) – Progress report on West African gold exploration Phoenix Copper* (PXC LN) – Raising £16.45m to develop the Empire mine open pit development project Trans-Siberian Gold (TSG LN) – High grade Vein 25 mining operations resume after accident investigation is completed
Companies: ARCM CGH KOD PXC TSG
Central Asia Metals (CAML LN) has reported Q4 2020 production with 3,365t of copper taking full year output to 13,855 in line with our forecast of 13.9kt and at the top end of guidance. Q4 lead output was 7,442t meaning 29,741t over the full year, up 2% YoY and in line with our forecast of 30kt while zinc output of 5,848t took full year output to 23,815t again in line with our forecast of 24kt and up 2% YoY despite the disruption at Sasa which CAML has overcome rapidly as we expected.
Companies: Central Asia Metals Plc
BlueRock Diamonds (BRD LN) – BlueRock reports $423/ct tenders, raises £1.5m in oversubscribed placing Cornish Metals* (CUSN LN) – Warrants exercised Metal Tiger (MTR LN) – Progress at Kitlanya East Pure Gold Mining (PUR LN) – Further drilling results from Red Lake Savannah Resources* (SAV LN) – Processing circuit optimization points to capital and operating costs savings at MdB Nornickel to Stabilize Water Inflows at Arctic Mine by Next Week
Companies: CUSN PGM BRD SAV MTR
