Hybridan Small Cap Feast - 11 Mar 24

11th March 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Change of Market: Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email enquiries@hybridan.com with “unsubscribe me”. Hybridan Chefs

Lexington Gold - Commencement of South Carolina, USA Drill Programme

Lexington today announces that drilling will soon commence at the Jennings-Pioneer gold project in South Carolina, USA.

Hybridan Small Cap Feast - 26 Feb 24

26th February 2024 @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 obj

Lexington Gold - Drilling Update

Lexington today provides an update on its drill programme at the Bothaville Project in the Witwatersrand Gold Basin in South Africa. Two “mother” holes have been completed from which four “daughter” holes were drilled giving four intersections of the target horizon, the Kimberley Formation, including the A-Reef.

Lexington Gold - Drilling update Bothaville Project in the Witwatersrand Gold Basin, South Africa

Lexington today provides an update on its drilling in South Africa at the Bothaville project. Percussion drilling through the Karro sediments overlying the Witwatersrand Supergroup (where the gold) is hosted has been completed; drill chips are being tested for heavy mineral sand potential. Diamond drilling is now underway in 2 of the 4 planned mother holes, with additional pierce points through the thin gold-bearing layer via wedges on these 4 holes. The 2,000m drilling programme is expected to

Hybridan Small Cap Feast - 08 Dec 23

8th December 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 obje

Lexington Gold - South African Drilling campaign expected to start in December

Today Lexington announces that it has signed a contract for a 2,000m+ drill programme to be completed at the Bothaville Project, in South Africa's Witwatersrand. Drilling is expected to commence in mid-December.

Lexington Gold - Near-term cashflow and massive resource potential

Lexington yesterday reported intraday that it has completed the acquisition of White Rivers Exploration (WRE). According to the terms of the acquisition, Lexington will issue shares for a maximum value of £6.4m to acquire 100% of WRE. Thirty-five per cent (£2.24m) of the acquisition value is to be paid in shares valued at 6.2p (30-day VWAP). The balance of the consideration will be settled in shares subject to certain milestones being achieved.

Lexington Gold - Near-term cashflow and massive resource potential

Through the acquisition of White Rivers Exploration (WRE), Lexington Gold has access to a resource inventory of over 6Moz* of gold in South Africa's prolific Witwatersrand goldfields. WRE estimates that approximately 40% is classified as Measured and Indicated (Jelani JV) and could be in production within four years. Agreements in principle are in place (with final terms to be agreed now Lexington has taken charge) to mine the Jelani resource on tribute for Harmony Gold, supplying high-grade Run

Hybridan Small Cap Feast - 04 Sep 23

4th September 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 obj

Lexington Gold - Argo Project, gold and silver identified at surface

Today, Lexington reports assay results following a sampling and mapping programme completed at the Argo Project, USA. The Argo project is close to historical gold mine workings and is prospective for epithermal vein style mineralisation.

Hybridan Small Cap Feast 10/07/23

Joiners: No joiners today. Leavers: Xpediator Plc has left AIM. What’s cooking in the IPO kitchen?** Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Expected Admission 21 July 2023. Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in t

Lexington Gold (LEX) – Corporate – Overwhelming support for the acquisition of White River Exploration

Lexington Gold the exploration and development company with assets in North and South Carolina, USA, has entered into an agreement to acquire White River Exploration (Pty) Ltd (WRE). Today's news shows that there is overwhelming support from shareholders for this acquisition, especially from the largest shareholders. The acquisition was announced via RNS on the 5.06.2023 and is subject to Special General Meeting 10am on the 26.06.2023.

Hybridan Small Cap Feast: 15/05/2023

Joiners: No joiners today Leavers: Ince Group has left AIM. What’s cooking in the IPO kitchen?** The kitchen is empty. Our daily digest of news from UK listed Small and Mid caps Banquet Buffet*** Arrow Exploration 19.75p £46.6m (AXL.L) The high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provides an update on the drilling of Carrizales Norte 1 (CN-1), an exploration well on the Tapir Block in the Llanos Basin of Colombia. The CN-1 well was spud on May 1, 2

Lexington Gold - Lexington Gold to acquire White River Exploration (Pty) Ltd

Lexington Gold the exploration and development company with assets in North and South Carolina, USA, has entered into an agreement to acquire White River Exploration (Pty) Ltd (WRE). WRE has five gold projects in South Africa's Witwatersrand and a comprehensive dataset of historical drill data from which significant non-compliant resources have been defined. The Witwatersrand is a truly prolific gold region; it has produced over a third of global gold production since 1886 (approximately 2bn oun

Alien Metals - Hancock Project, Mining Lease Granted

Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

SP Angel Morning View: Gold resilient as US interest rates climb on long-term inflation concerns

NextSource Materials - Initiation

NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward

Jubilee Metals - Operational Update Q3 FY2024

Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August

DEC FY23 Results Update

DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.

LIBERUM: New Energy Nuggets: Hydrogen - the future is green

SP Angel Morning View: Global Li-ion battery demand reaches all-time in Q1 2024

Zeus Top Picks for 2024 - 2023 review and outlook for 2024

On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div

Gulf Marine Services (GMS LN) - Contract award

GMS has announced a new contract award, at improved day rates, adding to order book and overall revenue momentum.

Challenger Energy (CEG LN) - £1.5m strategic investment in Challenger

Challenger has announced a £1.5m investment in the company from investor Charlestown Energy. This now allows Challenger to be fully funded for the foreseeable future as it works towards closure of its significant Uruguay farm out to Chevron, and the US$12.5m cash payment to be received once this is achieved.

Tethys Oil AB (SSE: TETY): Increasing further the size of the prize

• The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. • Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean). • The geological chance of success ranges from 6% to 11% for the six

Is there a “big-picture” change in the cards?

We note that this morning’s announcement by Aminex for a significant potential resource increase in the Ruvuma basin. We believe that the recent pullback in the share price (likely due to delays in the first gas production schedule) provide a good risk/reward opportunity, especially given the future potential in next 12-24 months, highlighted by today’s announcement.

Morning Note – 4 April 2024