SP Angel Morning View: Gold extends losses as higher oil and stronger US goods orders lift dollar

LIBERUM: Lithium - Rock Developers: EMH, SAV, ALL, PLL & ZNWD are all stand outs, on post-tax bases

Atlantic Lithium* (ALL LN) – Ghana Sovereign Wealth Fund Signs non-binding heads of terms to buy 6% of Ewoyaa and the wider Ghana portfolio for US$27.9m alongside $5m placement at 21p/s

Atlantic Lithium* (ALL LN) 25p, Mkt Cap £152m – Ghana Sovereign Wealth Fund Signs non-binding heads of terms to buy 6% of Ewoyaa and the wider Ghana portfolio for US$27.9m alongside $5m placement at 21p/s (Piedmonth can earn into up to 50% of the Ewoyaa lithium project through the expenditure of around 70% of the project capex) STRONG BUY from Buy

SP Angel Morning View: Atlantic Lithium sign positive non-binding HoT with Ghana sovereign wealth fund

SP Angel Morning View: Atlantic Lithium sign positive non-binding HoT with Ghana sovereign wealth fund

LIBERUM: Atlantic Lithium: MIIF investment encourages; implies £372m valuation for 100% of Ewoyaa

FLASH: Two birds with one pegmatite

SP Angel Morning View: Copper climbs as China property stocks post gains on scrapping home purchase curbs in smaller cities

SP Angel Morning View: Gold prices climb as dollar weakens and Treasury sell-off eases

SP Angel Morning View: SP Angel . Morning View . Wednesday 23 08 23 Copper prices climb alongside base metals in anticipation of China restocking MiFID II exempt information – see disclaimer below Atlantic Lithium* (ALL LN) – Minerals Commission comment

SP Angel Morning View: SP Angel . Morning View . Tuesday 22 08 23 Titanium prices continue to pick up in China defying widespread gloom MiFID II exempt information – see disclaimer below Atlantic Lithium* (ALL LN)– Len Kolff acquires 3m shares in Atlan

SP Angel Morning View:

LIBERUM: Trident Royalties: Mexican standoff

Chariot Limited (AIM: CHAR): Imminent partner in Morocco

• The US$2.7 mm cash position at the end of June is in line with our expectations. • Although inflation across the industry and rig availability had complicated and delayed the finalization of a farm-in agreement for Anchois in Morocco, negotiations on partnering are in the final stages. A partner could be announced very soon. • Progress has been made across the portfolio. Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells. Prospects

LIBERUM: Trident Royalties: Benefitting from rising rate environment

LIBERUM: Trident Royalties*: Utah lithium royalty acquisition

Interim Results

Diversified reported strong interim results, with production that was marginally below our estimate more than outweighed by tight cost control to deliver EBITDA ahead of our forecast; we broadly retain our FY23 estimates.

Savannah Energy+ (SAVE, Suspended, Under Review) - Interim results; readmission now expected in Q4

Pantheon Resources - Positive Outlook for Pantheon Resources

We believe that the outlook for Pantheon Resources is significantly improving.

Touchstone Exploration+ (TXP, House Stock at 68p) - Cascadura production update

Touchstone Exploration+ (TXP, House Stock at 62p) - Cash generation and scale in Trinidad to the fore

Central Asia Metals: H1 2023 Interim Results

Central Asia Metals (CAML LN) results in H1 2023 follow a record prior comparable period, with the swing between the two primarily due to commodity price performance. H1 2023 net revenue of US$93.6m was down 18% YoY, EBITDA of US$48.9m was down 35% YoY. COGS was up 9.8% YoY given global inflationary pressures. Other charges on the P&L were minimal particularly now CAML is debt free. Owing to the timing of tax charges and some unfavourable working capital movements which we expect to be resolved

Bushveld Minerals: H1 results; progress at Vanchem post period end

Bushveld Minerals (“BMN”) has released its results for H1 2023 having already released production of 1,784t at a weighted average cash cost of US$26.6/kgV, with H1 sales of 2,096tV through destocking during the period. Revenue for the period was US$78.4m, with adj EBITDA of US$10.3m and attributable NPAT of -US$14m. The company finished H1 with US$3.7m of cash and US$90.7m of debt. We expect H2 production of 1,992tV, split between 925tV from Vanchem and 1,067tV from Vametco, bringing full year p

LIBERUM: Shanta Gold: Solid beat at interims

Interim results

Bushveld delivered as robust a financial performance as could reasonably be expected in H1 2023 given the operational challenges faced. We are encouraged by the reported progress made at both Vametco and Vanchem since, and vanadium price aside (current prices are soft, and pose a downside risk if they do not recover in-line with our assumptions) we think Bushveld is broadly on course to meet our full-year estimates. But given its stressed balance sheet, concluding the refinancing of its c.US$45m

Chariot - Anchois Partnering in Final Stages

The partnering process at Anchois is now close to a conclusion, with farm-out negotiations in their final stages. The FEED phase of the Anchois gas development was completed in March, with Chariot continuing to make progress across all the Anchois technical and commercial workstreams. Post period, Chariot added the synergistic, low-cost, low-risk Loukos Onshore licence. Loukos Onshore contains several near-term drilling opportunities, which, if successful could lead to fast-tracked gas productio

Value anomaly despite resilient trading