AfriTin (ATM LN) – Further increase in concentrate production from the Uis mine during August | IronRidge Resources (IRR LN) – Update to capital structure | Kodal Minerals* (KOD LN) – BUY – Kodal looks to lithium production in rising price environment | Marvel Gold (MVL AU) – Earn in on new prospect in Mali | Metals Exploration (MTL LN) Suspended – Covid19 related disruption at RunRuno | Petra Diamonds (PDL LN) – Allegations of human rights abuses at Williamson mine | Savannah Resources* (SAV LN) – Savannah raises £2.34m at 1.8p/s | Vast Resources* (VAST LN) – Baita Plai update
Companies: ATM IRR KOD MVL MTL PDL SAV VAST
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
Adriatic Metals* (ADT1) – Government approval granted for land extension at Vares Silver project | Amur Minerals* (AMC LN) – Board appointment | Ariana Resources* (AAU LN) – Underground mining options considered and new vein discovered at Kiziltepe | BlueRock Diamonds* (BRD LN) –Diamond sales from Kareevlei average US$330/carat | Bushveld Minerals (BMN LN) BUY - Valuation 46.5p – Vanadium sales rise in first half despite Lockdown | Ferro-Alloy Resources (FAR LN) – Development of electrolyte for VFBs | Kodal Minerals* (KOD LN) – BUY – Sinohydro MoU offers potential to realise significant value | Sunrise Resources (SRES LN) – CS Project appeals window closes without any objections
Companies: ADT1 AMC AAU BRD BMN FAR KOD SRES
Adriatic Metals* (ADT1) – Updated mineral resource for Rupice Silver Deposit in Bosnia & Herzegovina | BlueRock Diamonds* (BRD LN) – 12.1 carat diamond from Kareevlei diamond mine valued at over US$100,000 | Gem Diamonds (GEMD LN) – 233 carat diamond recovered from Letšeng | Bluejay Mining* (JAY LN) – Greenland extends licenses and license obligations by a year | Kodal Minerals* (KOD LN) – BUY - MoU with Sinohydro to review engineering, development and financing at Bougouni | Hummingbird Resources (HUM LN) – Kouroussa acquisition completion | Highland Gold (HGM LN) – Annual guidance reiterated pointing to stronger H2/20 | Pan African Resources (PAF LN) – Trading Statement highlights impact of higher gold price Rio Tinto (RIO LN) – Oyu Tolgoi update | Savannah Resources* (SAV LN) – Disposal of Oman copper assets | Strategic Minerals* (SML LN) – Leigh Creek environmental submission
Companies: ADT1 BRD GEMD JAY KOD HUM PAF HGM RIO SAV SML
Companies: AMC AAZ BEM BZT KOD POG PREM ATYM CDV
Alba Minerals (ALBA LN) – Bulk sampling at Clogau St David mine | Altus Strategies* (ALS LN) – Diba PEA delivers $81m NPV10% (after tax) | Antofagasta (ANTO LN) – 2020 Maintaining production and cost guidance despite Covid19 | Bluejay Mining (JAY LN) BUY - Target 20p – Offtake agreement for up to 70% of Dundas Ilmenite production | Edenville Energy* (EDL LN) – ILTL $1m loan agreement and Rukwa update | Jangada Mines (JAN LN) – Drilling results from Goela | Kodal Minerals* (KOD LN) – Results highlight progress at Bougouni lithium and other gold projects | OXIS Energy* - Private – OXIS Energy agrees with Texas Aircraft Manufacturing to develop new electric aircraft
Companies: ALBA ALS ANTO JAY EDL JAN KOD
Anglo Asian Mining* (AAZ LN) – Earnings update: riding surging gold prices | Condor Gold* (CNR LN) – Raises £6.6m in oversubscribed placing | Kodal Minerals* (KOD LN) –– Kodal awaits approval to start mining | Mkango Resources* (MKA LN) –– Rare earth magnet recycling
Companies: AAZ CNR KOD MKA
Research Tree provides access to ongoing research coverage, media content and regulatory news on Kodal Minerals Plc. We currently have 117 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
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
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
Placing raising £7m; H1 2020 results
Companies: Union Jack Oil Plc
Discussions on alternative transactions
Companies: Premier Oil Plc
Phoenix today provides a further update from its summer drilling program in Idaho. Results in from the Empire deposit continue to show promise in extending the resource, with the targeted zones all at shallow depths and several high-grade intercepts. The inclusion of a recognised high-grade gold zone and additional zones of copper mineralisation will, in all likelihood, lead to an increase in the size and grade of the mineral resource and the overall metal inventory in our opinion. A new resource calculation and updated PEA are expected in Q4 2020; Phoenix are continuing their fast track study on the deposit.
Companies: Phoenix Copper Ltd. (United Kingdom)
Shanta Gold (AIM: SHG), the East Africa-focused gold producer has today announced a summary of historic exploration drilling carried out at its recently acquired West Kenyan project. We have included the significant drill intercepts that the company highlighted in the announcement.
Companies: Shanta Gold Ltd.
West Newton B-1 drilling update
Central Asia Metals (CAML LN) announced robust Q2 2020 operating statistics which highlight that there were no COVID-19 related interruptions, in part due to stringent measures put in place by the company. Q2 2020 copper output of 3.4kt was down 6% YoY, up 6% QoQ, however, H1 2020 total production was flat at 6.6kt indicating the company is on track for our 13.4kt 2020F target. Q2 Lead and zinc production of 7.5kt and 6.1kt were up 3% and 5% YoY although both were down 1% QoQ respectively. For H1 2020 12.2kt of zinc and 15.1kt of lead were up 5% and 6% which was primarily due to higher throughput.
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
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
