Botswana Diamonds (BOD LN) 0.73p, Mkt Cap £4.5m – Kimberlite intersected in drilling at Marsfontein | Central Asia Metals (CAML LN) 152p, Mkt Cap £267m – Sasa plant suspended after tailings leak | Kenmare Resources (KMR LN) 251p, Mkt cap £263m – Relocation of the concentrator underway | Mkango Resources* (MKA LN) 6.25p, Mkt cap £7.9m – Heavy minerals exploration success in Malawi | Power Metal Resources (POW LN) 1.275p, mkt cap £10.2m – Option exercised for Canadian silver project | Strategic Minerals* (SML LN) 0.43p, Mkt Cap £7.4m – Reports H1 profit as Leigh Creek moves ahead and Cobre masters Covid19 challenges
Companies: BOD CAML KMR POW SML
Botswana Diamonds (BOD LN) – Raising £300,000 for exploration | Bushveld Minerals* (BMN LN) – Vanadium rental agreement through VERL to fund 5MW flow battery | Gem Diamonds (GEMD LN) – 143 carat diamond recovered from Letšeng | Hochschild Mining (HOC LN) – Revised FY20 guidance | Kodal Minerals* (KOD LN) – BUY – Kodal raises £654,000 from sale of shares by Riverfort investors | Mkango Resources* (MKA LN) – EU Action Plan for critical raw materials. | Panther Metals (PALM LN) – Geophysical encouragement from Annaburroo | Red Rock Resources (RRR LN) – Option over Slovak Gold assets | Rio Tinto (RIO LN) –Simandou controversy may be moving closer to resolution | Vast Resources* (VAST LN) – Baita Plai update
Companies: BOD BMN GEMD HOC KOD PALM RRR RIO VAST
Bezant Resources (BZT LN) – Due diligence completed at the Hope copper/gold project, Namibia | Botswana Diamonds (BOD LN) – Acquisition of KX36 kimberlite pipe | Empire Metals (EEE LN) –– Deal to acquire Munni Munni held up by Platina Resources | KEFI Minerals* (KEFI LN) 1.8p, Mkt Cap £34m – Non-executive Director appointment | Pensana Rare Earths (PRE LN) –– Pensana enters agreement with China Great Wall Industry Corp | Petropavlovsk (POG LN) 28p, Mkt Cap £943m – UGC exercise its conversion rights for its holding of 2024 8.25% convertible bonds | Shanta Gold (SHG LN) 16p, Mkt Cap £127m – Robust production and strong gold prices deliver net cash positive status in Q2/20 | Tertiary Minerals* TYM –– Progress of Nevada programmes
Companies: BZT BOD GEO KEFI POG SHG TYM
Beowulf Mining (BEM LN) – Quarterly report highlights | Botswana Diamonds (BOD LN) – Macrodiamonds recovered from Marsfontein | Tertiary Minerals* (TYM LN) –– Three new exploration properties in Nevada
Companies: BEM BOD TYM
Ariana Resources* (AAU LN) – Due diligence completed | Botswana Diamonds (BOD LN)* – New exploration licences in Botswana | Caledonia Mining* (CMCL LN) – Deferral of dividend | Central Asia Metals (CAML LN) – 2019 results and decision to forego a dividend distribution | Gem Diamonds (GEMD LN) – Diamond sale | Glencore (GLEN LN) defers $2.6bn dividend decision.| Greatland Gold (GGP LN) –Newcrest exploration achieves 40% interest in the Havieron project | Strategic Minerals* (SML LN) – Experiencing little impact from Covid19 | Scotgold Resources* (SGZ LN) – Interims | Vast Resources* (VAST LN) – Chiadzwa Community Diamond Project update
Companies: AAU BOD CMCL CAML GEMD GLEN GGP SML SGZ VAST
Amur Minerals* (AMC LN) – Rock mechanics study completed | Bluejay Mining* (JAY LN) – Bluejay informed Government response on final EIA approval expected in February. Expects positive political decision for development thereafter. | BlueRock Diamonds* (BRD LN) – Achieves profitable operations during H2 2019 | Botswana Diamonds (BOD LN)* – £250,000 funding | Condor Gold* (CNR LN) – Permitting update | Ormonde Mining* (ORM LN) – Disposal of residual interest in Barruecopardo and board changes | Premier African Minerals* (PREM LN) – Operating agreement with MN Holdings | Trans-Siberian Gold (TSG LN) – Production in line with guidance despite a slowdown in Q4/19
Companies: AMC JAY BRD BOD CNR ORM PREM TSG
Intention to float by Gemfields Group. No Capital Raise. Currently listed on JSE. (GML:JNB) at circa £122m. The Group's key producing assets, the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world), are both expected to have long mine-lives with potential for expansion. Also owns the Faberge brand. Due Valentines Day 2020.
Companies: ITX SPE EYE CNC ANX ONC NFC BOD FEN ECSC
Adriatic Metals* (ADT AU) – Drilling confirms mineralisation open to north and south at Rupice | Savannah Resources* (SAV LN) – Lusorecursos lithium mine and refinery projects attracts opposition in northern Portugal | Vast Resources* (VAST LN) – Chiadzwa Diamond Concession agreement | Botswana Diamonds (BOD LN) 0.90p, Mkt Cap £5.6m
Companies: SAV VAST BOD
Altus Strategies* (ALS LN) 4.1p, Mkt Cap £7m – Lakanfla and Tabakorole due diligence period extension | BlueRock Diamonds* (BRD LN) 112.5p, Mkt Cap £3.7m – Sale of 20.72ct diamond for US$ 236,000 | Botswana Diamonds (BOD LN)* 1.25p, Mkt Cap £7.8m –Marsfontein mining permit | Edenville Energy* (EDL LN) 0.04p, Mkt Cap £2m – New CEO | Solgold* (SOLG LN) 21.7p, Mkt cap £400.7m – Metallurgical test results from Alpala | Walkabout Resources* (WKT AU) A$0.30, Mkt Cap A$95m – Proposed Senior Secured US$40m Loan Note Issue to finance Lindo Jumbo graphite mine in Tanzania
Companies: ALS BRD BOD EDL SOLG
Beowulf Mining* (BEM LN) – Mineralisation Vadar | Botswana Diamonds (BOD LN)* – Marsfontein mining contract | Kavango Resources (KAV LN) – Kavango selects new targets for 1,000m drill campaign | Bluebird Merchant Ventures* (BMV LN) – Formal notification of Gubong mine development permit | Hummingbird Resources (HUM LN) – Hummingbird settles with Taurus | Metal Tiger (MTR LN) – Environmental management plan for drilling
Companies: BEM BOD KAV BMV HUM MTR
Arc Minerals* (ARCM LN) STRONG BUY – More high grade copper discovered at Cheyeza in Zambia (inc. 10.5m grading 2.79% copper) | Cora Gold* (CORA LN) – Interims | Botswana Diamonds (BOD LN)* – Environmental authorisation at Marsfontein | Strongbow Exploration* (SBW CN) – Tungsten royalty rights
Companies: ARCM CORA BOD
Atalaya Mining (ATYM LN) – Strong performance at Proyecto Riotinto lifts 2018 results | Botswana Diamonds (BOD LN) – Drilling defines bulk sampling targets at Thorny River
Companies: Atalaya Mining Plc Botswana Diamonds Plc
Research Tree provides access to ongoing research coverage, media content and regulatory news on Botswana Diamonds Plc. We currently have 85 research reports from 3 professional analysts.
Central Asia Metals (CAML LN) reported robust interim results in the context of the H1 2020 backdrop; solid production and the company’s fundamentally low cost base meant that CAML remained profitable despite the sharp pullback in commodity prices during the period which led to a 17% YoY decline in revenue to US$70.8m. Consequently, EBITDA was down 25% YoY to US$42.5m despite a decline in unit costs of 6% YoY at Kounrad and 9% YoY at Sasa to US$0.48/lb and US$0.43/lb respectively which cushioned the impact of the weaker the top line. With no significant one offs in the period, EPS of US$0.10/sh. was 33% lower YoY.
Companies: Central Asia Metals Plc
Trinity has announced a strong set of interim results during a highly volatile period, with production increasing by 9% year-on-year to 3,282bopd (H1/19 3,007bopd). Operating break-even's post hedging in H1/20 reduced to US$22.3/bbl, a 15% year-on-year reduction and a 65% reduction since 2014. Similarly, a relentless drive to improve efficiencies and reduce costs has seen G&A and opex fall by 67% and 65% respectively since 2014. Despite the dramatic fall in oil prices, Trinity's strong production performance combined with its receipt of VAT receivables via a VAT Bond sale and the drawdown of a small working capital facility facilitated cash balances increasing by 43% to US$19.7m from YE2019. Trinity is well positioned to grow both organically and inorganically, with Trinity signing MoU's and submitting EOI's (in consortium with Cairn Energy Plc) to pursue new opportunities of scale. We set our price target a 31p/share, a 248% premium to the current share price and reiterate our BUY recommendation.
Companies: Trinity Exploration & Production Plc
EQTEC announced (last Friday afternoon) an extension of the exclusivity period of the Billingham MOU until 22 November 2020. The extension of the MOU exclusivity period is with the aim of finishing the preparation of a legally binding option agreement with Scot Bros. which, if agreed, will grant EQTEC and its partners the right, but not the obligation, to purchase the entire issued share capital of Billingham EFW Limited (the project SPV) from Scott Bros. subject to an agreement on consideration and other terms.
Companies: EQTEC Plc
Talitha Shelf Margin Deltaic LKA resource report
Companies: Pantheon Resources Plc
Three day CMD to detail how BP will redeploy hydrocarbons’ capital into renewables. The latter are expected to grow by 12% CAGR by 2030, which surely is more exciting than oil. Returns do not compare though, but BP intends to make good use of its trading division to bridge part of the gap. Lowering the dividend took care of the rest. Overall, BP diversifies its risks early, which might prove right if oil stays under $50.
Companies: BP Plc
Placing raising £7m; H1 2020 results
Companies: Union Jack Oil Plc
West Newton B-1 drilling update
Ready to steppe it up – initiating coverage
Companies: Enwell Energy Plc
The COVID-19 pandemic has had a significant impact globally in many areas. While primarily a health issue, it has had wide-ranging implications for stock markets, which have now rallied after the plunge in share prices in mid-March when the full severity of the emerging pandemic became more widely appreciated. Nonetheless, the FTSE 100 Index remains almost 20% off its late February 2020 figure.
Companies: AVO ARBB ARIX CLIG DNL GDR ICGT NSF PCA PIN PXC PHP RECI STX SCE TRX SHED VTA YEW
Cornish Lithium (private) – Results of preliminary sampling of deep geothermal waters | Empire Metals* (EEE LN) – 2.7p, Mkt cap £6.7m – Soil sampling starts at Eclipse gold project | Eurasia Mining* (EUA LN) 19.8p, Mkt Cap £545m – Board and management changes | Gemfields (GEM LN) 5.75p, Mkt Cap £67.3m – Interim results show damaging impact of Covid19 | Highland Gold (HGM LN) 298p, Mkt Cap £1,086m – FAS approves the proposed acquisition by Fortiana | Renascor Resources (RNU AU) A$0.01p, Mkt Cap A$16m –AU$3.6m to be raised to advance graphite and gold projects | Vast Resources* (VAST LN) 0.17p, Mkt Cap £21m – Baita Plai update
Companies: EEE EUA HGM RNU VAST
Saudi Arabia's warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex. Futures in New York rose 10% this week following a show of determination by Saudi Arabia, the most influential nation in the Organisation of Petroleum Exporting Countries, to defend the market on Thursday. The Saudis hinted they are prepared for new production cuts, and lambasted OPEC+ members that have cheated on production quotas. Prices briefly fell as much as 1.6% on Friday following an announcement from Libyan military commander Khalifa Haftar that he will allow crude production and exports to resume. But while Haftar reached the agreement with the country's deputy premier, it was unclear whether the deal that excluded the National Oil Co would actually restart exports. Haftar controls most of eastern Libya and has halted operations and shipments from his territory as part of a campaign against the internationally recognised Tripoli government. The OPEC member is pumping just 80,000 barrels a day, but produced 1.2 million a day last year. Oil reversed last week's losses, which pushed West Texas Intermediate futures toward $37 a barrel amid a slew of downbeat demand forecasts from the International Energy Agency to Trafigura Group and BP Plc. Helping support prices this week, US government data showed crude and gasoline stockpiles declining. American oil stockpiles are now at their lowest since April. But crude may not be out of the woods just yet, with distillate supplies at record highs and refining margins for the fuel deteriorating in the US and Europe. Meanwhile, rising coronavirus infections in Europe raise the spectre of a return to tighter restrictions that have crippled consumption. Prices West Texas Intermediate for October delivery rose 14 cents to settle at $41.11 a barrel. Brent for November settlement lost 15 cents to end the session at $43.15 a barrel. The contract rose 8.3% this week, its largest weekly gain since June.
Companies: FO PRP 88E DGOC EME TRIN UOG
Falcon has announced the resumption of activities at Kyalla 117 with the fracture stimulation of the well, and extended production test to follow. Initial results from the production test are expected in Q4/20, with final results expected by the end of Q1/21. Following the farm-down of a 7.5% participating interest to JV partner Origin Energy in April, Falcon is fully funded through the upcoming drilling campaign. We believe success at the Kyalla well will result in the JV further evaluating the potential of the Kyalla liquids rich gas play, thereby fast-tracking the potential commercialisation and monetisation of Falcon's 22.5% working interest. We reiterate our 39p price target (a 406% premium to the current share price) and our BUY recommendation.
Companies: Falcon Oil & Gas Ltd.
UKOG has this morning announced that the Xodus Group has estimated that the Loxley gas field has a best estimate recoverable resource of 44bcf gross and 34 bcf net to UKOG within its 100% held PEDL234 licence. The company has indicated the resource estimate must be proven by future production results and that the development of Loxley is subject to planning consent.
Companies: UK Oil & Gas Plc
There was less tension this quarter, as Shell had already cut its dividend in Q1. The trading units rose to the occasion, bringing a positive surprise in this horrendous quarter. The company has recorded a very large impairment, and is poised to announce a strategic shift once 2020 is in the books.
Companies: Royal Dutch Shell Plc
