SP Angel Morning View: Hawkish Fed comments send US$ higher weighing on risk sentiment

Atlantic Lithium* (ALL LN) – PFS demonstrates fantastic potential of Ewoyaa project BeMetals* (BMET CN) – Success at Hokkaido extends initial drill campaign Bluejay Mining* (JAY LN) – Interims highlight progress across Greenland portfolio Great Western Mining (GWMO LN) – Drill results from OMCO Mine, Olympic Gold Project, Nevada KEFI Gold and Copper* (KEFI LN) – Meeting with key local stakeholders at Tulu Kapi Power Metal Resources* (POW LN) – Drilling commences at Molopo Farms Scotgold

SP Angel Morning View: Rising US yields drive US$ index higher weighing on commodities prices

AfriTin Mining (ATM LN) – Placing to progress Namibian project Kavango Resources (KAV LN) – interest in KCB JV taken to 90% Power Metal Resources* (POW LN) – Geophysics completed ahead of drilling at Target 1-6

Hybridan Small Cap Feast 05/09/22

Dish of the day While we were away: Joiners: Unigel Group (AQSE:UNX) joined the Access Segment of the Aquis Growth Market on 26, August 2022. Zamaz plc (ZAMAZ.L) joined the Standard Segment of the Main Market via a direct listing on 2 September 2022. Leavers: Scottish Investment Trust (SCIN.L) left the Main Market today. What’s cooking in the IPO kitchen?** Aurrigo Group plc, a international provider of transport technology solutions, intends to join AIM. The Group designs, engineers, manufactur

SP Angel Morning View: US labour numbers in focus with strong US$ weighing on metals

Capital Limited (CAPD LN) – CEO appointed Piedmont Lithium (PLL US) – Site selected for 30ktpa lithium hydroxide processing facility Atlantic Lithium* (ALL LN) Power Metal Resources* (POW LN) – 58km2 area staked in Athabasca Basin

SP Angel Morning View: Metals slide as Chinese PMIs indicate potential contraction in August

Conroy Gold & Natural Resources (CGNR LN) – Clontibret drilling results Gem Diamonds (GEMD LN) – Increased costs for fuel and explosives and exceptional rainfall squeezes H1 profits while demand remains strong Galan Lithium (GLN AU) – Testwork demonstrates good flow rates and high lithium grades at the HMW Lithium Project Hummingbird Resources (HUM LN) – Kouroussa development update Power Metal Resources* (POW LN) – Exploration license granted in South Australia Rambler Metals and Mining*

SP Angel Morning View: Aluminium prices hold as Europe races towards energy armageddon

Culpeo Minerals* (CPO AU) – Mapping programme refines four drill targets at Lana Corina East Star Resources (EST LN) – Interim report describes progress in Kazakhstan Power Metal Resources* (POW LN) – Drilling commences at Tati Gold Project in Botswana Rainbow Rare Earths* (RBW LN) – Updated technical report indicates improvements in expected capital and operational costs. BUY – 51p Rainbow Rare Earths* (RBW LN) BUY, 51p – Rainbow strike deal with OCP for Rare Earth processing of Moroccan p

SP Angel Morning View: Metals hold steady despite collapse in NY Empire State manufacturing index

Arc Minerals* (ARCM LN) – New drill program starts as Arc grants extension to Anglo to complete due diligence BHP (BHP AU) – Record EBITDA, profit and dividend for year to 30th June BlueRock Diamonds* (BRD LN) – BlueRock posts circular for refinancing and issue of new shares Condor Gold* (CNR LN) – Detailed technical assessments for the DFS continue to de-risk La India Empire Metals* (EEE LN) – Positive results from Eclipse-Gindalbie Power Metal Resources* (POW LN) – Exploration update for

Hybridan Small Cap Feast 10/08/22

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 objectives, financial situation or

SP Angel Morning View: Battery metals prices hold up as US inflation drives US monetary policy

Arkle Resources* (ARK LN) –Follow-up drilling planned on a promising structural target at Stonepark Atalaya Mining (ATYM LN) – Cost impact of Ukraine dents H1 financial performance Hochschild (HOC LN) – Environmental permit granted for Mara Rosa Project Jubilee Metals Group (JLP LN) – H2 2022 operational results highlight completion of £58m investment programme in S Africa and Zambia Power Metal Resources* (POW LN) – Phase-1 exploration underway at Athabasca Basin Uranium Project PureGold (

SP Angel Morning View: Strong US employment raises risk for higher rates as US looks to reduce inflation

Amur Minerals* (AMC LN) – Recommended $35m offer for the Kun Manie Project Anglo Asian Mining* (AAZ LN) – BUY – ~C$1m investment in Libero to maintain its 19.9% interest in copper explorer BeMetals* (BMET CN) – Major shareholder provides US$5m loan BHP (BHP LN) – Proposal to acquire Oz Minerals rejected by target East Star Resources (EST LN) – Additional rare-earth exploration licences in Kazakhstan Tertiary Minerals* (TYM LN) – Sale of Finnish royalties Tirupati Graphite (TGR LN) – £1.5m

SP Angel Morning View: Gold climbs as China fires ballistic missiles in exercises around Taiwan

BlueRock Diamonds* (BRD LN) – Two large diamonds sold in July tender for $121,716 Botswana Diamonds (BOD LN) – Additional kimberlite identified in recent drilling at Thorny River. Centamin (CEY LN) – Interim results confirm 2022 production and cost guidance Condor Gold* (CNR LN) – Metallurgical test results from La India Galantas Gold* (GAL LN) – Further positive results from Omagh underground drill programme Glencore (GLEN) – Profits take off as higher as rising metals and energy prices dr

SP Angel Morning View: Copper prices fall on rising US-China tensions

Altus Strategies* (ALS LN) – Diba & Lakanfla Project MRE expanded 67% with new PEA delivering $150m NPV Atlantic Lithium* (ALL LN) – Latest drill results continue to extend known mineralisation Castillo Copper (CCZ LN) – Broken Hill metallurgical results Power Metal Resources* (POW LN) – Exploration target estimated at Ajax Rio Tinto (RIO LN) – US$525m sale of Cortez Gold Royalty Rockfire Resources (ROCK LN) – Further exploration targets identified at the Plateau project, Queensland

SP Angel Morning View: Metals prices soften ahead of expected Fed rate rise today

Anglo American (AAL LN) – De Beers reports continuation of H1 strength in diamond demand BeMetals* (BMET CN) – Drilling capacity strengthened following encouraging initial drilling results from Kato, Japan Galantas Gold* (GAL LN) – US$530k loan secured to bring Omagh project into production Gemfields (GEM LN) – Reports record breaking auction revenues in H1 2022 Kodal Minerals* (KOD LN) – Steven Zaninovich Appointed as Operations Director Newmont Mining (NEM US) – AISC jumps 16% YoY in Q2

SP Angel Morning View: Copper climbs on a pullback in US inflation expectations and Chinese property market news

Botswana Diamonds (BOD LN) – Drilling underway at Thorny River CMOC (603993.SS) – CMOC suspends all exports from Tenke Fungurume copper, cobalt mine in the DRC Kore Potash (KP2 LN) – Q2/22 update highlights completion of the Optimisation Study with EPC proposal expected in Aug/22 Power Metal Resources* (POW LN) – Site visit completed at newly acquired Botswana licenses

LIBERUM: Sylvania Platinum* - FY22 annual dividend is 33% higher than our estimate

Union Jack Oil# - West Newton update

West Newton update

IOG - H1 2022 Results

H1 2022 Results

Union Jack Oil# - Wressle reserves and resources report

Wressle reserves and resources report

Impressive H1 sees record interim dividend

A typically strong operational performance at Kounrad and materially higher realised zinc prices at Sasa versus the year-ago period helped CAML overcome industry-common cost inflation pressure to post a 16% increase in EBITDA and widen its margin to an impressive 63%. This in turn has given the group confidence to declare a record interim dividend of 10p, which annualised puts CAML on a compelling yield of 9%. Despite increasing metals markets volatility and the potential for further inflationar

Auctus on Friday - 6/09/2022

AUCTUS PUBLICATIONS ________________________________________ Longboat Energy (LBE LN)C; Target price of £1.25 per share: Copernicus is dry - The Copernicus exploration well on licence PL1017 was dry. The well failed to encounter any effective reservoir. This was a high risk well. Drilling was much quicker than anticipated. As a result, the cost of the well was materially under budget, suggesting that the balance sheet of the company could be stronger than our current assumption. We reduce our ta

Jersey Oil and Gas* - H1 2022 results and farm out update

H1 2022 results and farm out update

Central Asia Metals: Interim Results

Central Asia Metals (CAML LN) reported record H1 results on the back of robust production and higher commodity prices. H1 2022 net revenue of US$114m was up 13% YoY, EBITDA of US$75m was up 16% YoY and the EBITDA margin increased 2pp to 63%. An FX gain of US$7m, combined with the reductions in interest payments from debt reduction and higher profits meant net income was up 72% YoY to US$53m. With capex this year weighted to H2, the company’s free cash flow metric was up 7% YoY to US$52m enabling

Cenkos: Chariot Ltd -- Enabling the Energy Transition

Chariot has announced a partnership with Total Eren to jointly develop the Nour Project, a large-scale green hydrogen project to be located in Mauritania. The consortium will benefit from the dedicated expertise of Total Eren's team, holding a wide range of experience and knowledge in solar, wind, hybrid and green hydrogen projects globally. The involvement of Total Eren adds balance sheet strength and credibility to the project, whilst strengthening the existing relationship between Total Eren

Cenkos: Falcon Oil & Gas Ltd -- Origin Divests Beetaloo Interest

Falcon's Beetaloo JV partner, Origin Energy has announced its intention to exit all of its upstream exploration permits as part of a strategic decision to focus on cleaner energy and customer solutions. As part of this strategy, Origin has agreed to divest 100% of its interest in the Beetaloo Basin to a JV of Tamboran Resources and Bryan Sheffield for an upfront consideration of A$60m and a 5.5% royalty on future production from Origin's 77.5% working interest. At US$60m the upfront consideratio

SHORE CAPITAL - Union Jack Oil+ (UJO, 31p, House Stock) – Lifting of UK fraccing moratorium confirmed

Year-exit target rate in sight despite Kiln 3 challenges

H1 was a mixed half for Bushveld, the continuing strong performance of Vametco offset by unexpected challenges associated with the commissioning and subsequent ramp up of Kiln 3 at Vanchem. The latter has prompted the group to reduce full-year group production guidance (with unit cost expectations increased somewhat), though we still expect positive EBITDA for the full-year and H2 capex and debt repayment obligations look adequately covered. The year-exit production rate target of 5,000-5,400t p

WH Ireland: Pantheon resources (PANR) - Completion of Frack at Alkaid, Preparing to Test

Pantheon Resources announced that it has completed 30 frack stimulations in a 5,000 foot lateral section of the Alkaid #2 well. The company stated it now intends to mobilise a work-over rig and install testing equipment to production test the well. The company stated that, if successful, a production test will occur later in October.

Condor Gold: Feasibility Study provides solid base despite cost pressure; further upsides still to be factored in

Condor Gold (“CNR”) has announced completion of the La India Open Pit Feasibility Study (“FS”), an important milestone as CNR advances the project towards development. The headline results show a post-tax IRR of 23% and NPV of US$87m using a gold price of US$1,600/oz and 5% WACC. Initial capital expenditure is estimated at US$105m and all-in sustaining costs of US$1,039/oz for annual average output of 82kozpa gold for the first 6 years of an 8.4 year mine life. The FS provides a solid base again

WH Ireland: i3 Energy (I3E) - Serenity Operational Update

I3 Energy announced that it has commenced operations for the drilling of the Serenity appraisal well in the North Sea and that actual drilling operations are expected to occur later this week with the programme expected to last 30 days.