WH Ireland: Corcel (CRCL) - Oil Acquisition in Angola

This is an interesting move for Corcel which further diversifies its battery metal portfolio. The Kwanza basin is a proven oil producing region and the timing in respect of the commodity price cycle of compelling, so we believe it is question of watching this space to see how the company progresses its asset base.

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 - 05 May 23

5th 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 objective

Corcel (CRCL) – Corporate – Renewed focus on Brazil, battery projects and oil and gas opportunities

Since our last full note (May 2022), Corcel has restructured; the Flexible Grid Solutions business has been divested and the focus is now on advancing battery metal project investments and identifying oil and gas opportunities largely in Brazil. Corcel is now positioned to benefit from exploration success across an enhanced portfolio of compelling battery metals projects and (in time) oil and gas opportunities; with much of the initial exploration cost to be funded by Corcel's partners. Post-re

Hybridan Small Cap Feast - 20 Mar 23

20 March 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

Hybridan Small Cap Feast - 01 Mar 23

01 March 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

Corcel (CRCL) – Corporate – Option to acquire lithium rights in Australia

Corcel continues its newly defined strategy (RNS 20.02.2023) to position itself as a carried non-operator miner across multiple mineral exploration projects in a growing battery metals upstream portfolio. Today's news is the option to acquire 100% of the rights to the Canegrass lithium project in Western Australia for a £20k fee and then 50m shares in Corcel at a deemed 0.4p/sh (£200,000) to vendor Huntsman Exploration (CVE:HMAN, NR) if the option is enacted. Huntsman will retain the rights to

Hybridan Small Cap Feast - 25 Jan 23

25 January 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

WH Ireland: Corcel (CRCL) - Option to acquire Rare Earth project in Australia

Corcel today announces it has signed an exclusive 45-day option to acquire 100% ownership of the Mt Weld Project in Western Australia. This lies immediately adjacent to the significant Mt Weld mine operated by Lynas Rare Earths Limited (ASX:LYC, Mkt Cap AUD6.7bn); one of the most significant Rare Earth Element (REE) mines outside of China. The operating Mt Weld mine is a high-grade producer of critical REEs. The adjacent project being optioned by Corcel has several interesting magnetic anomal

WH Ireland: Corcel (CRCL) - Receipt of Gap Analysis Report for Wowo Gap Project

Corcel is focused on the exploration and development of battery metals projects (nickel, cobalt, and vanadium) and has interests in advanced flexible energy generation and storage projects connected to the UK National Grid.

WH Ireland: Corcel (CRCL) - Dempster Vanadium Project Expansion

Corcel is focused on the exploration and development of battery metals projects (nickel, cobalt, and vanadium) and has interests in advanced flexible energy generation and storage projects connected to the UK National Grid.

WH Ireland: Corcel (CRCL) - Advanced battery metal projects and pioneering Flexible Grid Solutions

With shovel-ready, flexible energy generation plus storage projects that would be connected to the UK National Grid and generating fixed minimum income, and the Mambare and Wowo Gap nickel-cobalt battery metal projects with potential near-term Direct Shipping Ore (DSO) production a real possibility, Corcel is ideally positioned to profit from increasingly aggressive decarbonisation goals and the growth of renewable power supply. We see fair value at 8p/sh, based on a sum-of-the-parts (SOTP) valu

SP Angel Morning View: Base metals rebound from year-to-date lows on signs Covid easing in China

Anglo Asian Mining* (AAZ LN) - BUY – Earnings slide on lower production and cost inflation; organic development pipeline increasingly pivots towards copper Atlantic Lithium* (ALL LN) – US to support battery metals projects in sub-Saharan Africa Base Resources (BSE LN) – Analyst roundtable offers encouragement Cornish Metals* (CUSN LN) - Valuation 48p/s - Stringers of cassiterite mineralisation in granite host rock highlights lode structure Corcel Plc (CRCL) – Wowo Gap nickel/cobalt resource

WH Ireland: Corcel (CRCL) - New JORC resource for WoWo Gap confirms the scale of the deposit

Corcel today provides a new JORC resource for the WoWo Gap nickel (-cobalt) laterite project in Papua New Guinea (PNG) in which it owns a 100% interest. The news today confirms the JORC resource at 110Mt (dry metric tonnes) grading 0.81% nickel and 0.06% cobalt for 0.89Mt nickel contained and 0.1Mt of cobalt – nearly 60% is currently classified as Indicated. The mineralisation is continuous and laterally extensive and is shallow with limited overburden and is therefore amenable to low-cost ope

Hybridan Small Cap Feast 28/04/22

Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? Altona Rare Earths, the AQSE listed mining exploration company focused on the evaluation, acquisition and development of Rare Earth Elements mining projects in Africa, intends to join the Main Market. Admission to trading of the Company's Ordinary Shares on the AQSE Growth Market will be cancelled simultaneously with Admission. It is also proposed that on Admission, the Company will change its EPIC from AQSE

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

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

Jersey Oil and Gas (JOG LN) - Full year 2022 results

JOG has released its full year 2022 results. These report a net cash holding of £6.6m which, alongside upcoming payments under the GBA farm out deal with NEO Energy, gives JOG a very strong funding base. The statement also reiterates the company’s focus on progressing its GBA project, including approval and closure of the farm out, progression of the Buchan development plan, likely a second farm out, and then FID in H1 2024. We expect this to represent a series of catalysts over the coming month

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

Pantheon Resources (PANR) – Corporate – Successful $22m Placing

Pantheon Resources announced the closing of a $22m significantly oversubscribed placing and subscription priced at 17p. The use of proceeds will include: i) funding the flow testing of the Alkaid#2 well from the SMD horizon, ii) funding a competent person report to be prepared by Netherland Sewell and Associates covering the Theta West and Alkaid oil discoveries, iii) funding the preparation of dynamic models and field development models to be prepared by SLB (formerly Schlumberger) and iv) fund

The time has come!

In the next six months, Aminex (AEX) will embark on a development programme that will see the company become a producer and free cash flow (FCF) generator. Between drilling the new Chikumbi-1 well (CH-1), re-entering the existing two wells, processing of the new 3D seismic, signing a GSA, and reaching first gas, there will be plenty of milestones in 2023 to, in our view, gradually “guide” the market towards recognising a full value for the targeted initial 60mmscf/d gross production in late 2023

LIBERUM: Caledonia Mining* - The worst should be behind us; onwards and upwards from here

LIBERUM: Helium One* - >60% increase in Helium resource

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

Successful first test at CN-1

Reserves at Shell: Shooting itself in the foot?

Hangover from the noughties debacle still seems to weigh Is Shell''s seeming conservatism on SEC reserves accounting effectively shooting itself in the foot? After two weeks of talking with investors, several of whom expressed concern that Shell''s lowly reserves life would require it to spend beyond guidance to sustain its hydrocarbon business, our impression is, most likely, yes. Push into the details and time and time again, all too apparent in our view is that when it comes to reserves accou

Anglo Asian Mining* - FY22 reflect lower gold production, FY23 guidance reiterated and 8c dividend maintained

Morning Note – 24 May 2023