SP Angel Morning View: US$ jumps as risk appetite pulls back after Russia declares partial mobilisation

BlueRock Diamonds* (BRD LN) – FD steps down Empire Metals* (EEE LN) – AEM survey completed at Pitfield Galantas Gold* (GAL LN) – BUY – TP:54p – Positioned for growth - CLICK FOR INITIATION NOTE Savannah Resources* (SAV LN) – BUY – EIA review update Strategic Minerals* (SML LN) – Interims highlight good control on costs and progress at development projects

SP Angel Morning View: Metals pull back on US dollar gains as hotter than expected CPI

Bluejay Mining* (JAY LN) – Kangerluarsuk survey hones in on most promising zinc, lead, sliver targets for drilling BlueRock Diamonds* (BRD LN) – Victor Dingle takes over as CEO. Rob Croll becomes new non-executive Chairman Central Asia Metals (CAML LN) – Earnings climb on stronger base metal prices and depreciation in Tenge and Denar Empire Metals* (EEE LN) – Interims highlight transformative portfolio expansion KEFI Gold and Copper* (KEFI LN) – Jibal Qutman adjacent exploration licenses sec

SP Angel Morning View: Metals hold steady despite collapse in NY Empire State manufacturing index

Arc Minerals* (ARCM LN) – New drill program starts as Arc grants extension to Anglo to complete due diligence BHP (BHP AU) – Record EBITDA, profit and dividend for year to 30th June BlueRock Diamonds* (BRD LN) – BlueRock posts circular for refinancing and issue of new shares Condor Gold* (CNR LN) – Detailed technical assessments for the DFS continue to de-risk La India Empire Metals* (EEE LN) – Positive results from Eclipse-Gindalbie Power Metal Resources* (POW LN) – Exploration update for

SP Angel Morning View: Gold climbs as China fires ballistic missiles in exercises around Taiwan

BlueRock Diamonds* (BRD LN) – Two large diamonds sold in July tender for $121,716 Botswana Diamonds (BOD LN) – Additional kimberlite identified in recent drilling at Thorny River. Centamin (CEY LN) – Interim results confirm 2022 production and cost guidance Condor Gold* (CNR LN) – Metallurgical test results from La India Galantas Gold* (GAL LN) – Further positive results from Omagh underground drill programme Glencore (GLEN) – Profits take off as higher as rising metals and energy prices dr

SP Angel Morning View: Copper prices continue to fall on recession fears while China maintains Covid Zero policy

Anglo Asian Mining* (AAZ LN) – Ratification of new licenses strengthens development pipeline BlueRock Diamonds* (BRD LN) – Teichmann, T-Three Drilling and three Teichmann employees subscribe for £1.6m of stock Cora Gold (CORA LN) – Sanankoro ESIA submitted to Malian authorities Galantas Gold (GAL LN) – Production imminent with commencing of longhole drilling Savannah Resources* (SAV LN) – Change of CEO and EIA update

SP Angel Morning View: Copper trades below $8,000/t as speculators push metal lower in thin trade

Anglo Pacific (APF LN) – Initial production from Piaui, Brazil Beowulf Mining* (BEM LN) – ~£1.76m loan financing agreed BlueRock Diamonds* (BRD LN) – 2021 results show increased mineral resource at Kareevlei and completion of plant expansion delivering improving quality and value of production Tesoro Resources (TSO AU) – Encouraging sampling at El Zorro gold project

SP Angel Morning View: Copper posts a second monthly loss on Covid lockdowns in China

Aurania Resources (ARU CN) – Identification of 400 years-old mining site downstream of exploration area in SE Ecuador. BlueRock Diamonds* (BRD LN) – Bluerock resets production guidance following heavy rain in Kimberley, South Africa Castillo Copper (CCZ LN) – Cobalt resource estimate at Broken Hill East Leo Lithium (LLL AU) a spin out from the Firefinch Limited, raised A$100m in an IPO to progress development of the Goulamina Lithium Project in southern Mali. Power Metal Resources* (POW LN)

SP Angel Morning View: Gold at four week high as investors assess outlook for Fed rate hikes

Anglo American (AAL LN) – De Beers reports growing demand for its rough diamonds ahead of the usual slower Q2 period Amur Minerals* (AMC LN) – Sanctions update Aston Bay Holdings* (BAY CN) – Ore-sorting provides potential for direct shipping copper ore from the Storm project, Nunavut Atalaya Mining (ATYM LN) – Mineral resource estimates for San Dionisio and San Antonio deposits BeMetals (BMET CN) – Drilling commences at Kato, Japan BlueRock Diamonds* (BRD LN) – Q1 production increases desp

SP Angel Morning View: Base metals continue to rise on ongoing European disruption

Altus Strategies* (ALS LN) BUY, 111p – $1.7m in generated royalties including maiden revenue from Newcrest portfolo Atalaya Mining (ATYM LN) – Mineral resource increase at Masa Valverde BlueRock Diamonds* (BRD LN) – BlueRock sells a further four high-value diamonds in March tender Bushveld Minerals* (BMN LN) – BUY, Valuation 31p – JORC 2012 reserve and resource update demonstrates world class primary orebody Chaarat Gold (CGH LN) – Centerra and the Government of Kyrgyzstan reach an agreement

SP Angel Morning View: Copper pulls back on weak Chinese PMI data

Atlantic Lithium* (ALL LN) – Interims highlight a series of major milestones including Piedmont funding and a continuing Ewoyaa MRE growth BlueRock Diamonds* (BRD LN) – BlueRock raises £2.1m for working capital to support mine expansion and increased diamond output Botswana Diamonds (BOD LN) – Diamond prices rising strongly with supply concerns exacerbated by potential impact of sanctions on Alrosa Castillo Copper (CCZ LN) – Cobalt assay data from Broken Hill Galan Lithium (GLN AU) – HMW DFS

Hybridan Small Cap Feast 04/03/2022

Joiners: More Acquisitions (TMOR.L) has joined the Main Market (standard) raising £1.2m. The Company was formed to undertake one or more acquisitions of a majority interest in a company or business. Any such acquisition undertaken by the Company will be treated as a reverse takeover for the purposes of Chapter 5 of the Listing Rules. The directors intend to search initially for acquisition opportunities in the energy transition sector. Energy transition refers to the global energy sector's shift

SP Angel Morning View: Nickel hits $28,500/t intraday on supply concerns

BlueRock Diamonds* (BRD LN) – Large stones lift BlueRock Diamonds auction to new high Griffin Mining (GFM LN) – Mining at Caijiaying scheduled to recommence 15th March Kinross Gold Corp (KGC US) – Kinross Gold suspends Russia operations over sanctions and legal concerns Power Metal Resources* (POW LN) – Full-year results demonstrate strong progress across suite of exploration projects Piedmont Lithium (PLL AU) / Sayona Mining (SYA AU) – Quebec lithium resource base doubles to 119mt @ 1.05% L

Hybridan Small Cap Feast 22/02/2022

Joiners: No Joiners Today. Leavers: ASOS has left AIM to join the Main Market. Minds and Machines Group has left AIM. What’s cooking in the IPO kitchen? URA Holdings, a London based mining exploration and development company, intends to list on the Main Market (Standard). URA, a former AIM-listed company, is refinanced and ready for listing as an African focused mineral exploration company. The Company’s purpose is to seek unique, value-enhancing opportunities in minerals as a project generator

LIBERUM: Sylvania Platinum* - FY22 annual dividend is 33% higher than our estimate

Union Jack Oil# - West Newton update

West Newton update

IOG - H1 2022 Results

H1 2022 Results

Impressive H1 sees record interim dividend

A typically strong operational performance at Kounrad and materially higher realised zinc prices at Sasa versus the year-ago period helped CAML overcome industry-common cost inflation pressure to post a 16% increase in EBITDA and widen its margin to an impressive 63%. This in turn has given the group confidence to declare a record interim dividend of 10p, which annualised puts CAML on a compelling yield of 9%. Despite increasing metals markets volatility and the potential for further inflationar

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE) - BUY at 25.4p – Strong interim results; Chad-Cameroon deal completion anticipated in Q4

Union Jack Oil# - West Newton CPR assessment

West Newton CPR assessment

Jersey Oil and Gas* - H1 2022 results and farm out update

H1 2022 results and farm out update

IOG - Production update

Production update

Central Asia Metals: Interim Results

Central Asia Metals (CAML LN) reported record H1 results on the back of robust production and higher commodity prices. H1 2022 net revenue of US$114m was up 13% YoY, EBITDA of US$75m was up 16% YoY and the EBITDA margin increased 2pp to 63%. An FX gain of US$7m, combined with the reductions in interest payments from debt reduction and higher profits meant net income was up 72% YoY to US$53m. With capex this year weighted to H2, the company’s free cash flow metric was up 7% YoY to US$52m enabling

Cenkos: Chariot Ltd -- Enabling the Energy Transition

Chariot has announced a partnership with Total Eren to jointly develop the Nour Project, a large-scale green hydrogen project to be located in Mauritania. The consortium will benefit from the dedicated expertise of Total Eren's team, holding a wide range of experience and knowledge in solar, wind, hybrid and green hydrogen projects globally. The involvement of Total Eren adds balance sheet strength and credibility to the project, whilst strengthening the existing relationship between Total Eren

Cenkos: Falcon Oil & Gas Ltd -- Origin Divests Beetaloo Interest

Falcon's Beetaloo JV partner, Origin Energy has announced its intention to exit all of its upstream exploration permits as part of a strategic decision to focus on cleaner energy and customer solutions. As part of this strategy, Origin has agreed to divest 100% of its interest in the Beetaloo Basin to a JV of Tamboran Resources and Bryan Sheffield for an upfront consideration of A$60m and a 5.5% royalty on future production from Origin's 77.5% working interest. At US$60m the upfront consideratio

SHORE CAPITAL - Union Jack Oil+ (UJO, 31p, House Stock) – Lifting of UK fraccing moratorium confirmed

Auctus on Friday - 30/09/2022

AUCTUS PUBLICATIONS ________________________________________ Challenger Energy (CEG LN): Discontinuing coverage - We are discontinuing coverage on Challenger Energy Group. Longboat Energy (LBE LN)C; Target price of £1.50 per share: 3-5 well programme in 2023. Increased resources estimate at Kveikje – There were no surprises in the 1H22 financials. The gross contingent resources estimates at Kveikje have been increased from 28-48 mmboe to 35-60 mmboe (2C-3C) based on a new CPR following post wel

Year-exit target rate in sight despite Kiln 3 challenges

H1 was a mixed half for Bushveld, the continuing strong performance of Vametco offset by unexpected challenges associated with the commissioning and subsequent ramp up of Kiln 3 at Vanchem. The latter has prompted the group to reduce full-year group production guidance (with unit cost expectations increased somewhat), though we still expect positive EBITDA for the full-year and H2 capex and debt repayment obligations look adequately covered. The year-exit production rate target of 5,000-5,400t p

Condor Gold: Feasibility Study provides solid base despite cost pressure; further upsides still to be factored in

Condor Gold (“CNR”) has announced completion of the La India Open Pit Feasibility Study (“FS”), an important milestone as CNR advances the project towards development. The headline results show a post-tax IRR of 23% and NPV of US$87m using a gold price of US$1,600/oz and 5% WACC. Initial capital expenditure is estimated at US$105m and all-in sustaining costs of US$1,039/oz for annual average output of 82kozpa gold for the first 6 years of an 8.4 year mine life. The FS provides a solid base again