AUCTUS ON FRIDAY - 19/04/2024

AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te

Hybridan Small Cap Feast - 18 April 24

18th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radical Limited for

Challenger Energy (CEG LN) - £1.5m strategic investment in Challenger

Challenger has announced a £1.5m investment in the company from investor Charlestown Energy. This now allows Challenger to be fully funded for the foreseeable future as it works towards closure of its significant Uruguay farm out to Chevron, and the US$12.5m cash payment to be received once this is achieved.

Challenger Energy - Strategic Investment by Charlestown Energy

Challenger Energy has announced that it has entered a binding term-sheet pursuant to which Charlestown Energy Partners LLC will invest £1.5m in the company in the form of notes convertible into shares at a fixed price of 0.168p/sh (being a 25% premium to the 0.134 closing price yesterday), upon closing of the farmout of AREA OFF-1 to Chevron (expected in the next 2-3 months pending Uruguayan regulatory approvals). The investment is expected to result in Charlestown Energy holding circa 8.7% of C

Challenger Energy - Full Year Trading update - FY23 PBT in line, with earnings ahead

Challenger Energy announced the formal signing of its AREA OFF-3 licence, offshore Uruguay.

Challenger Energy (CEG LN) - New OFF-3 licence in Uruguay formally awarded and signed

Challenger has had its OFF-3 exploration licence in Uruguay formally awarded and signed. We now expect the company to carry out an accelerated desktop analysis programme, in preparation for a farm out process, similar to the recent successful farm out of the company’s OFF-1 licence to Chevron.

AUCTUS ON FRIDAY - 08/03/2024

AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; target price of NOK47 per share: Hibiscus South on stream at 5-6 mbbl/d – The Hibiscus South well has been put in production at a rate of 5-6 mbbl/d. Once stabilized this should take production at Dussafu to ~30 mbbl/d. Pulsar Helium (PLSR CN)C; target price of C$0.80 per share: High Helium concentration at high impact appraisal well – The Jetstream #1 appraisal well at the Topaz helium project in Minnesota en

SP Angel Morning Energiser: 06/03/24

Majors farm-in to frontier exploration

Challenger Energy - Chevron Farming into AREA OFF-1 Offshore Uruguay

Challenger Energy announced that it has farmed out a 60% interest in AREA OFF-1, offshore Uruguay, to Chevron, retaining a 40% interest. Pursuant to the terms of the farmout, Challenger Energy will i) be paid $12.5m by Chevron upon completion of the Transaction, ii) be fully carried on the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of $15m net to Challenger energy, iii) have 50% of its net costs carried, should Chevron decide to drill an initial exploration well i

Challenger Energy (CEG LN) - Uruguay farm out to Chevron

Challenger has announced a farm out of its OFF-1 exploration asset offshore Uruguay to Chevron. The deal includes a mix of seismic and drilling carry and upfront cash, alongside bringing in a global class partner. Challenger will retain a material 40% interest.

SP Angel Morning Energiser: 14/12/23

Demand outlook boosted by Fed comments

Trinity Exploration and Production - Reserves Reduction but Solid Core Business

Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren

Alien Metals - Hancock Project, Mining Lease Granted

Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

SP Angel Morning View: Gold resilient as US interest rates climb on long-term inflation concerns

NextSource Materials - Initiation

NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward

Jubilee Metals - Operational Update Q3 FY2024

Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August

DEC FY23 Results Update

DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.

Almonty Industries Inc. (TSX: AII) – Building Global-Scale Tungsten Mine, Ensuring Critical Mineral Independence

Almonty Industries Inc. (TSX: AII, ASX: AII, OTC: ALMTF, FRA: ALI) (“Almonty” or the “Company”) is a multi-asset owner that develops and operates tungsten projects. Its assets include development projects and a producing mine. Sangdong, Global-Scale Tungsten Asset: The Company's key growth driver is the Sangdong Tungsten Project, one of the largest tungsten projects in the world and a formerly producing mine. The project has top-quartile projected grade and recovery rates, and a large resourc

LIBERUM: New Energy Nuggets: Hydrogen - the future is green

Zeus Top Picks for 2024 - 2023 review and outlook for 2024

On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div

Gulf Marine Services (GMS LN) - Contract award

GMS has announced a new contract award, at improved day rates, adding to order book and overall revenue momentum.

The time has come!

In the next six months, Aminex (AEX) will embark on a development programme that will see the company become a producer and free cash flow (FCF) generator. Between drilling the new Chikumbi-1 well (CH-1), re-entering the existing two wells, processing of the new 3D seismic, signing a GSA, and reaching first gas, there will be plenty of milestones in 2023 to, in our view, gradually “guide” the market towards recognising a full value for the targeted initial 60mmscf/d gross production in late 2023

Is there a “big-picture” change in the cards?

We note that this morning’s announcement by Aminex for a significant potential resource increase in the Ruvuma basin. We believe that the recent pullback in the share price (likely due to delays in the first gas production schedule) provide a good risk/reward opportunity, especially given the future potential in next 12-24 months, highlighted by today’s announcement.

Tungsten Industry Overview

Tungsten Industry Overview