SP Angel Morning View: Gold climbs as traders wait for US inflation data

SP Angel Morning View: Gold pushes higher ($2,435/oz) again as Fed leans dovish and Treasuries rally on rate cut hopes

Hybridan Small Cap Feast - 1 August 2024

1st August 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, or it is a rumour Dish of the day Admissions: Delistings: I(X) Net Zero (IX.L) has left AIM. What’s baking in the oven? ** 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 research@hybridan.com

SP Angel Morning View: Copper demand to rise significantly with shift to cleaner energy sources in India

Anglo American (AAL LN) – Operations suspended at Grosvenor mine, Queenland Ariana Resources (AAU LN) – Completion of merger with Rockover Holdings Bluejay Mining* (JAY LN) – Potential for hydrogen and helium by the Geological Survey of Finland on Outokumpu licenses Bushveld Minerals* (BMN LN) – Orion agrees to provide up to $10m buying Company more time to close on Vanchem disposal and FY23 accounts Caledonia Mining (CMCL LN) – Quarterly dividend maintained Eurasia Mining* (EUA LN) – Tempo

SP Angel Morning View: Copper continues to slide as short-squeeze unravels and inventories climb

SP Angel Morning View: Copper short squeeze fades as COMEX discount narrows

SP Angel Morning View: Gold prices slide following profit taking as traders look to US data

SP Angel Morning View: Gold pushes on again despite rising Treasury yields as focus turns to Powell today

SP Angel Morning View: Gold prices hold firm as China moves to strengthen CNY after Friday fall

SP Angel Morning View: China kickstarts construction with >8,200 ‘whitelisted' residential developments

SP Angel Morning View: China hints at more stimulus in boost to metal demand prospects

Hybridan Small Cap Feast - 23 Jan 24

23nd January 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 obje

SP Angel Morning View: China considering $280bn cash injection to stabilise crumbling stock market

SP Angel Morning View: Nickel prices jump following stainless steel price rise in China

SP Angel Morning View: Gold prices hit >$2,010/oz as Israel conflict shows escalation potential

Chariot Limited (AIM: CHAR): Anchois-3 disappoints. All eyes on South Africa power, Morocco onshore & Namibia.

• The North Flank prospect at Anchois-3 is water wet (ReNAV: £0.03/sh), This has a negative impact on Anchois South (ReNAV: £0.07/sh). • The B sands that were the main appraisal targets were thinner than expected and the deeper C & M sands were water wet, however these were drilled down-dip from the Anchois-2 well where the sands were found gas-bearing. The B sands will not be tested and the main hole will be plugged an abandoned. This has a negative impact on the size of the contingent resource

Jersey Oil & Gas (JOG LN) - H1 2024 results

JOG has released its H1 2024 results, re-confirming the company’s significant cash holding, alongside providing an operational update reporting the progress made in 2024 on Buchan engineering work.

Morning Note – 16 September 2024

Cadence Minerals (KDNC LN) - Licensing update for the Amapá iron ore project, Brazil

Cadence today provides an update on its licencing and project test work for the plan to produce a single 67% iron product from the Amapá iron ore brownfield restart in Brazil. Licences are all underway following an agreement with the local environment agency to expedite the process as Amapá is a former operating mine; Amapá needs a Mine Extraction and Processing Permit for which it needs an Installation License to begin construction and, when constructed, an Operational License. It also requires

Morning Note – 19 September 2024

Strong 1H cash flow, soft services

Union Jack Oil (UJO LN) - Wressle planning permission received for planned programme

Union Jack has announced that it has received planning permission for the next phase of its Wressle development project in the UK. This is the key consent for this work programme, and should allow the company to add important new production volumes from this existing producing asset going forward.

Union Jack Oil+ (UJO, House Stock at 16p) - Planning consent for Wressle expansion

Morning Note – 18 September 2024

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

Oil & Gas - Cavendish sector note

Chariot, Hartshead Resources, Sunda Energy, Afentra, Energean, Serica Energy, Petro Matad, Cadogan Energy Solutions, Bowleven Source: FactSet, weekly change 09/09/2024-13/09/2024 Oil slipped as producers started reviving output after Storm Francine passed, though futures still posted their first weekly gain in a month as the disruptions and risk-on sentiment in wider markets helped ease a previously oversold crude market. West Texas Intermediate slid about 0.5% to settle below $69 a barrel, givi

PANMURE LIBERUM: Commodity snapSHOT: Russia's latest threats, quantified

Sound Energy (SOU LN) - H1 2024 results

Sound has announced its H1 2024 results, alongside providing an operational update on its ongoing Tendrara development project in Morocco. The company recently announced a farm out of Tendrara, which should close in the coming weeks and which we expect to leave Sound fully funded for Tendrara Phase 1 and 2 development.

Pharos Energy Plc (LSE: PHAR): Very strong financials. Busy drilling programme in 2H24. Dividend up by 10%

• 1H24 production of 5,851 boe/d had been reported previously. • Pharos has re-iterated its FY24 production guidance of 5.2-6.5 mboe/d. The company expects to spend US$26 mm (net) capex in 2024 (US$27 mm previously). • The highlight of this announcement is the strong financials. While the net cash of US$17.5 mm at the end of June is in line with what had been reported previously, the 1H24 operating cashflow had been negatively impacted by an inventory build of ~US$12 mm. This implies that the ne

88 Energy - Multi Hundred Million Barrel Oil Resource Confirmed

Assessments carried out by two independent reserve and resource auditors have confirmed a multi-reservoir discovered resource at Project Phoenix, with combined gross 2C resources of 378mmboe (including 251mmbbls of marketable liquids). The result provides 88E with 159mmbbls of net oil and NGL resources, strategically located next to the Trans Alaska Pipeline System (TAPS), with significant development potential. Upside potential comes from 247mmbbls of gross 2U unrisked prospective resources, br