SP Angel Morning View: Gold ($2,437/oz) pushes higher as analysts boost rate cut forecasts

SP Angel Morning View: Metals climb as dollar rally cools and traders look to China's Third Plenum for policy support

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: SXS, AGR, VCT, PDL & MARS.

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: SAFE, TYMN, IGE, FDEV, DRV, RWS, PDL, & Special Opportunities REIT.

SP Angel Morning View: Copper and gold slide as dollar strengthens on reduced rate cut prospects

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

SP Angel Morning View: Gold prices at $2,337/oz as central bank buying continues

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: BARC, IHG, ANTO, BHP, PLUS, PDL, AAZ, & MPE.

H1 Results – Turning the Corner?

Petra Diamonds (LSE: PDL) has just released its interim financial results for six months ending 31 December 2023. The company has already published its operational and debt figures for the period, and therefore the key focus is on costs, profits and future guidance. Generally the figures have come in well ahead of our forecast in percentage terms (see Fig 1) a reflection of the increasing efforts management is bringing to bear on the cost base. They are battling an average group diamond price

SP Angel Morning View: Metal prices rangebound as market digests impact of Red Sea attacks

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: RIO, OCDO, VOD, EXPN, SPT, PDL, THG, CARD, WISE, & Panmure Liberum Merger.

H1FY24 Operational Update

Petra has released its H1 FY24 operational update this morning. They had previously announced much of today's news and, as such, was in line with our expectations. There was no change to full year guidance either. Operations are clearly going pretty well. Williamson is back up and running hard whilst Finsch and Cullinan are broadly delivering. The company's last tender suggested some price stabilization is at last coming to the market if not recovery and the market is picking up on it with the s

SP Angel Morning View: Gold and copper soar as Jerome Powell indicates 75bp cut in rates next year

T3 and Increased RCF

Petra has released an update this morning for the initial results of their third Tender (T3) of FY 2024 as well as the approval with Absa bank to increase their revolving credit facility by ZAR750m (c.$40m). For their T3 results, 462.8kcts were sold for a total of $58.7 million, representing a c. 20% increase in like-for-like prices compared to T2. We note, that price increases tender on tender, have increased across the product mix. Smaller than 2ct increased 20% whilst the 2ct+ saw increase

Hot Off The Wires - The Day Ahead

Today's news and views, plus announcements from: WEIR, GSK, AML, WG., PDL, ASC, TKO, ARIX, VNET, UOG, & ANIC.

Tlou Energy (TLOU) - Q4 update

Tlou has released its Q4 update, reporting ongoing progress during recent months on its Lesedi CBM gas-to-power project in Botswana, with first electricity sales continuing to be targeted for 2024.

AUCTUS ON FRIDAY - 26/07/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target of A$0.75 per share: Diversified and high impact newsflow over the balance of 2024 – ADX has confirmed a very busy programme of activity from September. The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price. In early September, ADX will drill the Anshof-2A side track. The well is expected to intersect thick Eocene reservoirs similar to that encountere

Juggernaut Exploration Ltd. (TSXV: JUGR) Making tracks with discoveries in the Golden Triangle

◆ Juggernaut Exploration Ltd. (TSXV: JUGR) owns three highly prospective projects within, and close to, the Golden Triangle in NW BC, a Tier 1 region known for significant discoveries and developments. ◆ Each project is known to host high-grade gold-rich polymetallic discoveries that deserve additional exploration and resource assessment. ◆ The Company is supported by a well-respected fund group Crescat Capital that holds just under 20% of the share capital. ◆ The Company raised C$4.8 million

Morning Note – 26 July 2024

Termination of coverage

Edison Investment Research is terminating coverage on Cadence Minerals (KDNC). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

VSA Morning Flow Test 25/07/24 (Prospex)

Prospex Energy (PXEN LN) has announced a ten year extension of the licence concessions for its Spanish El Romeral project where the company produces natural gas and converts it to electricity. The extension was for the maximum allowable ten years to 2034 and can be extended to 2044. We note the Spanish Government’s quote highlighting the benefits of the extension and its securing electricity supply to the grid for the long-term. This follows the declaration in 2023 of the plant as a Public Utili

i3 Energy* (I3E LN): Initiation - A solid platform for E&P growth in Canada

i3 Energy is an AIM and TSX-listed oil and gas company with a diversified 20kboe/d production base onshore Canada, which offers UK investors attractive exposure to North American E&P themes. The Company's production growth strategy is sensibly hedged to pivot between acquiring producing assets when commodity prices are low and to invest in its low-risk drilling inventory when prices are high.

Hybridan Small Cap Feast 07/07/23

Joiners: No joiners today. Leavers: Medica Group plc has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in the medical cannabis market by creating products that provide fast onset of action and accurate dosing, intends to join intends to join the Access Segment of the AQSE Growth Market. Expected Admission 20 July 2023. Metals One Plc, a company focusing on acquiring natural resou

Hybridan Small Cap Feast - 24 June 2024

24th June 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: TUI AG (TUI.L) has left the Premium Segment of the Main Market. Bens Creek Group (BEN) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 19 June 2024: IntelliAM, an artificial intelligence co

i3 Energy - 2024 Guidance: Consolidation for Growth

i3 Energy announced that its 2024 guidance consists of expectations to drill 10.5 net wells (7.6 net wells in Central Alberta, 1.9 net wells in Simonette and 1.0 net wells in the Clearwater play) with 85% of capex allocated to the second half of the year. Total capex expenditure for the year is guided at $US 50.9m. The company indicated that it intends to commence pad drilling of its Montney acreage in Q1 2025 and we perceive the company is bulking up for that significant growth opportunity for

i3 Energy (I3E LN) - Sweet as maple syrup

I3E is a UK and Canada listed E&P company, with a significant producing asset position onshore Canada in Alberta.

Union Jack Oil (UJO LN) - Andrews 2-17 initial well result

Union Jack has released the successful initial results of its Andrews 2-17 well (Union Jack 45%), which has been drilled on the company’s West Bowlegs asset in Oklahoma.

Allenby Capital: Panthera Resources Update

Panthera Resources (PAT.L) recently (25/08/23) made an important announcement that could potentially unlock the value of its world-class Bhukia gold project in Rajasthan, north-west India. Non-recourse litigation financing of US$13.6m has been secured from LCM Funding SG Pty Ltd, a subsidiary of Litigation Capital Management Ltd (LITL: AIM), a leading global disputes funder, to pursue a claim against the Republic of India for a breach of treaty obligations under the 1999 Agreement between Austra

Serica Energy Plc (AIM: SQZ): Initiating Coverage

Serica Energy is a ~US800 mm market cap company with >40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea. The investment case is about value and generous shareholder distributions. The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&A. Over the last 2 years, the share price has been negatively impacted by the reduction in UK gas prices and fiscal uncertainty. Serica’s divide

AUCTUS ON FRIDAY - 19/07/2024

Condor Energies (CDR CN)C: Signing first LNG framework agreement in Kazakhstan – Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives. The agreement was also signed by Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan and Wabtec Corporation, a U.S. based locomotive manufacturer with existing facilities in Kazakhstan. KTZ and Wabtec previously signed a memorandum of understanding which includes modernization wor