SP Angel Morning View: Risk sentiment pulls back on US debt ceiling concerns and sticky inflation

Hybridan Small Cap Feast - 28 Apr 23

28th April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

SP Angel Morning View: Copper prices ease as Peru sees wave of delayed copper shipments

SP Angel Morning View:Stellantis takes $155m stake in copper mine as automakers move upstream for EV supply chain

SP Angel Morning View: US PMI highlights ongoing strong inflationary pressures driving market rates higher

SP Angel Morning View: Copper and Iron ore extend gains on improving China construction activity

SP Angel Morning View: Gold flatlines as Fed officials continue to bang the drum for higher rates for longer

SP Angel Morning View:Copper prices hold near 7-month high as South American supply remains in focus

ALB BEM CMRS LGO MKA SHG

SP Angel Morning View: Copper rises as Eurozone returns to marginal growth

Base Resources (BSE LN) – Sales pull back on softer ilmenite prices despite positive production Beowulf Mining* (BEM LN) – Kallak scoping study indicates NPV8 of US$852m at current prices Horizonte Minerals (HZM LN) – ESIA submitted for the Vermelho nickel cobalt project. Anglo Asian Mining* (AAZ LN) – BUY – Drilling at Gilar return wide high grade intersections extending the extent of mineralisation Kore Potash (KP2 LN) – BUY, TP Under Review – Updated DX Project resources, reserves and pro

SP Angel Morning View: Copper prices power through to $9,084/t as economists look for renewed China growth

Atlantic Lithium* (ALL LN) – Final assay results received ahead of expected MRE upgrade Arkle Resources* (ARK LN) – Identification of Lithium-bearing pegmatites in Mine River Block, Ireland BeMetals* (BMET CN) – Latest drilling results from the Kato gold project, Japan continue to extend the mineralised footprint Beowulf Mining* (BEM LN) – £250k investment in Vadar Minerals Empire Metals* (EEE LN) – Exploration underway at Pitfield and Eclipse-Gindalbie Project First Quantum Minerals (FM C

SP Angel Morning View: Global commodity inventories continue to slide with nickel and copper near risk of depletion

Anglo Asian Mining* (AAZ LN) - BUY – Follow up investment in Libero Copper & Gold maintaining 20% interest Beowulf Mining* (BEM LN) – Contract awarded for Grafintec PFS Cobra Resources (COBR LN) – Maiden resource estimate for Wudinna rare earth project KEFI Gold and Copper* (KEFI LN) – 2022 drilling grows Hawiah MRE by 16% to 29mt Tianqi-led company bids A$136m for Australian lithium developer Essential Metals Sunrise Resources (SRES LN) – Pioche sepiolite project extended following trenchi

SP Angel Morning View: Copper prices supported by PBOC comments in support of the property sector

AfriTin Mining (ATM LN) – lower quarterly production following plant expansion, though record tin production in Nov 2022 Beowulf Mining* (BEM LN) – High-grade trenching results at Räpysjärvi graphite prospect Deep Yellow (DYL AU) – Successful completion of Omahola drilling campaign and results Ecora Resources (ECOR LN) – Report of appointment of Christine Coignard as Independent non-executive director Glencore (GLEN LN) – Canada blocks proposed coal mine in British Columbia GreenRoc Mining

Predator Oil & Gas Holdings PLC - Initiation of Coverage - Buy Target Price 0.25 Pence

• Up to 200MMscfd gas to industry opportunity in Morocco • Replacing more expensive and CO2 emitting LPG • 295BCF (2C) in Guercif permit onshore Morocco • Multifold upside from yet undrilled prospective in permit • Competitive advantage from capital-light phased development approach • 3-month re-rating to 15p after flow-testing discovery well, and two appraisal wells in June/July 2023 • 12-month target of 25p with first gas of 1MMscfd in May/July 2024 ramping-up rapidly to 10MMscfd • Further ups

Fully funded for range of activities - operational and key third party evaluations

Savannah Energy+ (SAVE, Suspended, Under Review) - Gas sales and purchase agreement signed with AMOCON

FLASH: Completion date extended (again)... but positive drilling results indicate resource upside

Andrada Mining: Lithium driving value after “numerous unsolicited approaches” to accelerate Uis development

Andrada Mining (“ATM”) has announced several unsolicited approaches from international entities to accelerate production from its lithium portfolio through a potential strategic partnership in its Uis project in Namibia. A global investment bank has been appointed to provide a structured assessment of potential partners based on financial and technical merits. After the expansion of the Phase 1 tin operation in 2022, Uis achieved record quarterly tin concentrate output for the three months to Fe

Initial Equity Trading Comments - 15 May 2023

Touchstone Exploration+ (TXP, House Stock at 58p) - US$7m revolving loan facility

Savannah Energy+ (SAVE, Suspended, Under Review) - COTCo update

Successful first test at CN-1

Cenkos: Diversified Energy Company Plc -- Director Purchases Underline Confidence

Recent share purchases by Diversified's Board and Management highlights the attractiveness of the Diversified value proposition, and should provide investors with confidence in the Company's long-term strategy. Despite significant growth in the Company's asset base in recent years and a stronger outlook for US natural gas, Diversified is now trading at its lowest price since the height of the COVID-19 pandemic in Q2/20. We believe the current dislocation in the Company's share price makes for an

Cenkos: Diversified Energy Company Plc -- 54% Cash Margin & 37% Annualised FCF Yield

Despite the challenging commodity price environment, Diversified has announced a strong set of Q1/23 results. Cash margins and annualised free cash flow yield increased to c54% and c37% respectively, as a result of lower per-unit expenses and the Company's robust hedging portfolio. Diversified's hedging strategy continues to advantageously position the Company, with remaining 2023 average natural gas hedge floors of US$3.79/Mcf at a 35% premium to current strip pricing, and a 55% premium to the

Hybridan Research: Sector Review: Critical minerals for UK - mining and battery recycling: 09-05-2023

Virgin mining: Energy security and decarbonisation are driving the race in the sourcing of critical minerals from the natural world. This has contributed to the revival of exploration activities in the US, Europe and to a lesser degree the UK. For example, the global identified lithium resources increased from 40m tonnes in 2015 (the Paris Agreement year) to 97m tonnes in 2023, at a CAGR of 12%, according to the U.S. Geological Survey data. For example, there was no identified lithium resources

Hybridan Small Cap Feast - 23 Feb 23

23rd May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Maiden drilling at Pitfield outlines giant hydrothermal system

The maiden RC drill programme at Empire’s Pitfield project in Western Australia has confirmed the presence of a potentially giant-scale hydrothermal mineral system. Assays returned anomalous copper values but more intriguingly, the results appear to have outlined an extensive new titanium discovery.

Loony for Bougouni