Caledonia today announces it has agreed to acquire the nearly 1Moz Maligreen deposit in the Gweru Greenstone Belt in Zimbabwe – in the middle of the country. Caledonia will pay $4m in cash for the project, which is 550ha over two former operating open pit mines from Pan African Mining, a private Zimbabwean company.
Companies: Caledonia Mining Corporation PLC
Altus Strategies* (ALS LN) – BUY, 118p – High grade intersections reported at Diba Caledonia Mining* (CMCL LN) – Record Q2 production drives 51% increase in gross profit Conroy Gold & Natural Resources (CGNR LN) – Drilling results from Cargalisgorran Cornish Lithium (Private) – Geothermal Energy claim world's highest lithium grade in geothermal waters in Cornwall Cornish Metals* (CUSN LN) – Tin prices continue to rise on falling LME and SHFE inventories Rio Tinto (RIO LN) – Rio Tinto shares
Companies: CUSN CMCL ALS CGNR RIO
Caledonia today publishes the financials for the first half of 2021. Once again they show progression with record gold production following record mill throughput. The reducing cash costs and (still) high gold price returned a Gross profit of $24.3m for H1 2021 ($19.7m H1 2000) which translated through to a net profit of $7.2m despite a $3.5m impairment for an exploration property. Eps rose to 114/sh (94/sh). Caledonia had a net cash position at the end of June of $16.7m ($11.6m). The half
Joiners: Big Technologies (BIG.L) has joined AIM. Big Technologies plc provides products and services to the remote and personal monitoring industry under a number of brand and trading names, with 'Buddi' being the most well known and used in respect of activities within the core criminal justice market. The Company's criminal justice solution involves proprietary monitoring software combined with modular monitoring hardware being used to accurately track the location of tag wearers. Alongside
Companies: AGL CMCL CEG CCS EEE GOOD PPC SMS TRCS ZPHR
A local listing has been something that Caledonia has been considering for some time. Now it seems the time is right for the involvement of local participants and also because of the incentive from the Zimbabwe government for increased dollar earnings. None of this takes away from the investment case which is focussed on the Blanket mine and its robust (and growing) cash flow, which provides for Caledonia's increasing dividend and wider ambitions in Zimbabwe gold.
Altus Strategies* (ALS LN) – BUY, 118p, CLICK FOR PDF – Encouraging Tabakorole Gold Project drilling results BeMetals (BMET CN) – New CFO appointed Caledonia Mining* (CMCL LN) – Zimbabwean listing under consideration Central Asia Metals (CAML LN) – H1 operational update indicates that Sasa is likely to deliver at the lower end of its 2021 production guidance Orosur Mining* (OMI LN) - CLICK FOR PDF – Flashnote – Drill results highlight progress at Anza Shanta Gold (SHG LN) – NLGM adds new o
Companies: BMET OMI CMCL ALS CAML SHG SOLG
Altus Strategies* (ALS LN) - BUY - 118p – New ground secured at the Tabakorole Gold Project Caledonia Mining* (CMCL LN) – Q2 record production at the Blanket mine and announcement of a further dividend increase Conroy Gold & Natural Resources (CGNR LN) – Completion of due-diligence drilling at Clontibret Cornish Metals*+ (CUSN) – United Downs drilling results identify new mineralised structures Orosur Mining* (OMI LN) – Spectacular drill results including 59.55m @ 9.61g/t Au at Anzá project
Companies: CUSN OMI CMCL ALS CGNR RBW TGR
Another increase in the dividend is a tremendous result for shareholders and testament to the strong operational and economic performance of the Blanket mine as evidenced by today's production update. The Blanket mine continues to deliver under the watchful eye of management. Blanket will provide the necessary cash to enable Caledonia's expansion plans in country by funding exploration at Connemara North and Glen Hume. Our fair value remains under review, but we point to today's announcements
What’s cooking in the IPO kitchen? Bridgepoint Group to float on the Premium Segment of the Main Market. Bridgepoint is the leader in middle market investing, with a global reach that leverages its strong pan-European footprint and Bridgepoint's ability to deploy meaningful amounts of client capital across several well established strategies. Raising £300m. Timing TBA. HydrogenOne Capital Growth to IPO on the Premium Segment of the Main Market. HGEN is targeting a raise of £250m. First London
Companies: DDDD BIRD CMCL CHH DEST MUL HDD OMI QBT RDGC
Alba Mineral Resources (ALBA LN) – Preliminary bulk-samping results from Clogau Bluejay Mining* (JAY LN) – VAT reclaim up update Caledonia Mining* (CMCL LN) – Updated estimates show mineral resource and reserve replenishment at the Blanket mine Metal Tiger (MTR LN) – ASX confirm listing of Metal Tiger Ormonde Mining* (ORM LN) – 2020 results and operational update Rambler Metals and Mining* (RMM LN) – Ming mine mineral resources update Tertiary Minerals* (TYM LN) – Interim report and proje
Companies: ORM CMCL ALBA JAY RMM TYM MTR
Caledonia today provides an update on the resources at Blanket mine in Zimbabwe (64% Caledonia). A thorough independent review and reinterpretation of the orebodies at the mine has led to an increase of 1% in the Proven and Probable Reserve to nearly 5Mt grading 3.4g/t gold – leading to much more confidence in the production schedule over the next 4-5 years at 80koz/yr. This is a 17% increase when you consider 84.9koz of gold have been mined since the last update. Whilst tonnages in all catego
Atalaya Mining (ATYM LN) –Q1 reaps benefit of a strong operating performance and higher copper prices Caledonia Mining* (CMCL LN) – Blanket mine comes through weather affected Q1 to deliver above planned gold production in April Eurasia Mining* (EUA LN) – Eurasia asset sale process. West Kytlim operations expand capacity GoldStone Resources* (GRL LN) – Significant production guidance upgrade at Homase Shanta Gold (SHG LN) – NED appointment Walkabout Resources (WKT AU) – A$6.4m equity raise
Companies: CMCL EUA GRL SHG ATYM WKT
Research Tree provides access to ongoing research coverage, media content and regulatory news on Caledonia Mining Corporation PLC. We currently have 171 research reports from 9 professional analysts.
Savannah provided its interim snapshot yesterday and it is worth pointing out where it has come from and where it is going to, with a catalyst-rich future ahead of it. The Mina do Barroso project remains one of the most advanced spodumene projects in Europe and as such is very well located in terms of market (close to a main end-use market with all the freight savings – cost and carbon – that implies) and available green energy to power production. The project benefits from political support fo
Companies: Savannah Resources Plc
Phoenix copper today provides an operational update with plenty of work streams running in parallel. It continues to make progress on finalising plans for bringing the Empire oxide open pit into production after nearly completing its hydrological studies and finalising plans for a permanent mine office in Mackay – 5 miles from the proposed operation.
Companies: Phoenix Copper Ltd. (United Kingdom)
H1 2021 results
Companies: Jersey Oil & Gas PLC
Central Asia Metals (CAML LN) reported strong interim results as copper, lead and zinc prices extended their gains up 21%, 11% and 12% YTD. H1 2021 revenue of US$101m was up 42% YoY, EBITDA of US$64m was up 52% YoY and the EBITDA margin increased 5pp to 61%. With no significant other charges, net income was up 69% YoY to US$42m. Having marked to market our commodity price assumptions, our estimates are broadly unchanged meaning CAML remains well on track for a record year of earnings underpinned
Companies: Central Asia Metals Plc
Companies: Shanta Gold Limited
£8.5m equity raise at 25p for appraisal drilling
Companies: IOG PLC
No surprises in JOG’s interim results, with the market’s main focus – the company’s GBA Development farm-out process – ongoing. The resurgence of UK North Sea M&A has brought the shares back to life recently as the market is reminded of the scale of the resource and development opportunity JOG is sitting on. While JOG’s main focus remains on securing funding and a partner for its GBA Development, the company has indicated it is reviewing a number of potential acquisitions/mergers. JOG’s strong m
While the Permian was considered as a core region for the group, we believe this transaction makes sense. Given the new strategy, there is indeed a limited interest in keeping short cycle and high cost assets in the portfolio. This might also tell that, by selling the most liquid assets, divesting remains challenging. The good news is that, by distributing most of the proceeds back to the shareholders, Shell does not depend on divestments to fund its transition.
Companies: Royal Dutch Shell Plc Class A
Oil declined amid Russia's plans to boost upcoming overseas oil sales and as the dollar rallied. Futures in New York ended the session nearly 1% lower on Friday. Russia will increase its oil exports 3% in the fourth quarter, according to Interfax. Meanwhile, gains in the US dollar reduced investor interest in commodities priced in the currency. Despite weaker prices on Friday, US benchmark crude futures gained more than 3% this week due to tightening supplies. In the US, crude inventories
Companies: FO 88E DEC EME GTC TRIN UOG WEN
Wressle update
Companies: Union Jack Oil Plc
The Wressle oil field, in which Union Jack (UJO) holds a 40% working interest has achieved flow rates of 964 boepd from the primary Ashover Grit reservoir. This has been attained on a restricted choke setting and no formation water has been produced as the well continues to clean up. This is very positive news for UJO given that the reported flow rate exceeds initially forecasted rates by a substantial margin and further operations to increase gas handling capacity could increase hydrocarbon
Jersey Oil & Gas announced its interim results of which we believe the key news items are as follows: i) The company had a cash balance of £17.06m as at 30 June 2021; ii) The company indicated its farmout process is ongoing that that the company is engaged with both industry parties and potential infrastructure funders; and iii) Regional electrification collaboration within the Central North Sea is building momentum amongst industry parties and the GBA is ideally located to be an integral p
AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; Target of A$0.75 per share: Good production performance – Production in August was 3,493 boe/d, up 200 boe/d compared to July as all the new wells at Brooks now contribute to production, more than offsetting natural decline. Financials for August are broadly in line with our expectations. The three new Thorsby wells drilled in August and September could be on stream for November with an individual IP rate of ~2
Companies: ALV ALV CE1 COP COP EDR IOG RDSA TETY TETY TXP
We are publishing new forecasts and refreshing our view based on the company's recent results including their latest five year plan. Shanta's promising project pipeline means that >100Kozpa gold production is within sight (+62% vs 2021) by 2023 along with >200Kozpa production levels from 2025. AISC falls accordingly from $1371/oz to $568/oz. Assuming a flat $1800/oz gold price over the next two years we are forecasting a 2.5x uplift in EBITDA and near fourfold increase in net earnings. Net cash
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Companies: BrandShield Systems plc
