Botswana Diamonds (BOD LN) 0.73p, Mkt Cap £4.5m – Kimberlite intersected in drilling at Marsfontein | Central Asia Metals (CAML LN) 152p, Mkt Cap £267m – Sasa plant suspended after tailings leak | Kenmare Resources (KMR LN) 251p, Mkt cap £263m – Relocation of the concentrator underway | Mkango Resources* (MKA LN) 6.25p, Mkt cap £7.9m – Heavy minerals exploration success in Malawi | Power Metal Resources (POW LN) 1.275p, mkt cap £10.2m – Option exercised for Canadian silver project | Strategic Minerals* (SML LN) 0.43p, Mkt Cap £7.4m – Reports H1 profit as Leigh Creek moves ahead and Cobre masters Covid19 challenges
Companies: BOD CAML KMR POW SML
Arkle Resources* (ARK LN) – Mine River soil sampling Bacanora Lithium (BCN LN) – Operational update at Sonora Project in Mexico | BlueRock Diamonds (BRD LN) –– BlueRock recovers 9.7ct diamond | Cornish Metals* (CUSN CN) –– First results from drilling at South Crofty in Cornwall | Greatland Gold (GGP LN) – Recent drilling expands northern breccia zone at Havieron as WA grants Mining Lease | Predictive Discovery (PDI AU) – Results of further drilling at Bankan | Strategic Minerals* (SML LN) – Confirmation of Leigh Creek environmental submission | Sunstone Metals (STM AU) – Drilling starts at Espiritu gold-silver prospect in Ecuador
Companies: ARK BCN BRD CUSN GGP PDI SML STM VAST
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
Adriatic Metals* (ADT1) – Adriatic Metals increase loan to Tethyan Resources | Arc Minerals* (ARCM LN) – Don Bailey resigns from board as Anglo American steps in with exclusivity agreement | Jubilee Metals (JBL LN) – Jubilee appointed to recommission and operate chrome plant at Inyoni in South Africa | Petropavlovsk (POG LN) – Board update | Rio Tinto (RIO LN) – Rio Tinto executives lose bonuses over destruction of ancient caves in Australia| Shanta Gold (SHG LN) – Interims highlight strong FCF and positive net cash status | Strategic Minerals* (SML LN) – Redmoor project review | Sunrise Resources (SRES LN) – £1m fundraising | Tertiary Minerals* TYM – Buy-back and cancellation of deferred shares
Companies: ADT1 ARCM JLP POG RIO SHG SML SRES TYM
Arc Minerals* (ARCM) – Arc signs exclusivity with Anglo American as majors step into Zambia | Kenmare Resources (KMR LN) – Ilmenite and rutile production fall heavily through first half | Power Metals Resources* (POW LN) – Progress report and strategy | Phoenix Copper* (PXC LN) – Reduced H1 losses and project review | Strategic Minerals* (SML LN) –Cobre Q2 magnetite sales | Trans-Siberian Gold (TSG LN) – V25N drilling returns high grade intersections along strike and at depth
Companies: ARCM KMR POW PHNX SML TSG
Amur Minerals* (AMC LN) – 2019 results | Strategic Minerals* (SML LN) – Debt free after repaying NAE | Sunstone Metals (STM AU) – Drilling success at Viscaria
Companies: Amur Minerals Corp. Strategic Minerals Plc
Amur Minerals* (AMC LN) – BFS strategy | Bushveld Minerals* (BMN LN) - Strong Buy - (Valuation 58 from 54p) - Vanadium price to recover on strong demand for structural steel for Stimulus projects | Nano One Materials (NNO CN) - Coated single crystal cathode material provides 4x the longevity | Power Metals Resources* (POW LN) – Covid19 delays some gold license applications around Ballarat in Australia | Strategic Minerals* (SML LN) – 2019 financial results | Strogbow Exploration (SBW CN) – Drilling restarted in Cornwall at new discovery site | Sunrise Resources Plc (SRES LN) – Outcome of CS Project environmental consultation | Talga Resources (TLG LN) – Talga shares take off as interest in Li-ion anode exceeds 300% of Vittangi anode project capacity
Companies: AMC BMN NNO SML SRES
Keras Resources (KRS LN) – Interim results highlight value created through Calidus shares | Pure Gold Mining (PUR LN) –– Resumption of drilling at Red Lake mine | Strategic Minerals* (SML LN) – Raising £1.1m to fund purchase of balance of Cornwall Resources
Companies: KRS PGM SML
Amur Minerals* (AMC LN) – Kun Manie copper concentrate production | Beowulf Mining* (BEM LN) - Madjan Peak Shows Epithermal Gold Potential in Northern Kosovo | Mkango Resources* (MKA LN) – Q1 Results highlight progress towards feasibility study | Rambler Metals* (RMM LN) – Appointment of new CEO | Savannah Resources* (SAV LN) – Mina do Barroso EIA submission | Strategic Minerals* (SML LN) – Award of US$21.9m by arbitrator
Companies: AMC BEM MKA RMM SAV SML
Anglo Asian Mining* (AAZ LN) - BUY – Strategy update | Aura Energy* (AURA LN) – General meeting rejects proposed new directors | Bluejay Mining plc (JAY LN) – Chairman’s statement highlights work with Rio Tinto and near-term ilmenite (titanium) production | Chaarat Gold* (CGH LN) - BUY – Quarterly production increases, costs come down, FY20 target reiterated at 55koz | Strategic Minerals* (SML LN) – Draft environmental programme submitted for Leigh Creek
Companies: AAZ AEE JAY CGH SML
Research Tree provides access to ongoing research coverage, media content and regulatory news on Strategic Minerals Plc. We currently have 137 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
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
Talitha Shelf Margin Deltaic LKA resource report
Companies: Pantheon Resources Plc
West Newton B-1 drilling update
Companies: Union Jack Oil 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
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
Saudi Arabia's warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex. Futures in New York rose 10% this week following a show of determination by Saudi Arabia, the most influential nation in the Organisation of Petroleum Exporting Countries, to defend the market on Thursday. The Saudis hinted they are prepared for new production cuts, and lambasted OPEC+ members that have cheated on production quotas. Prices briefly fell as much as 1.6% on Friday following an announcement from Libyan military commander Khalifa Haftar that he will allow crude production and exports to resume. But while Haftar reached the agreement with the country's deputy premier, it was unclear whether the deal that excluded the National Oil Co would actually restart exports. Haftar controls most of eastern Libya and has halted operations and shipments from his territory as part of a campaign against the internationally recognised Tripoli government. The OPEC member is pumping just 80,000 barrels a day, but produced 1.2 million a day last year. Oil reversed last week's losses, which pushed West Texas Intermediate futures toward $37 a barrel amid a slew of downbeat demand forecasts from the International Energy Agency to Trafigura Group and BP Plc. Helping support prices this week, US government data showed crude and gasoline stockpiles declining. American oil stockpiles are now at their lowest since April. But crude may not be out of the woods just yet, with distillate supplies at record highs and refining margins for the fuel deteriorating in the US and Europe. Meanwhile, rising coronavirus infections in Europe raise the spectre of a return to tighter restrictions that have crippled consumption. Prices West Texas Intermediate for October delivery rose 14 cents to settle at $41.11 a barrel. Brent for November settlement lost 15 cents to end the session at $43.15 a barrel. The contract rose 8.3% this week, its largest weekly gain since June.
Companies: FO PRP 88E DGOC EME TRIN UOG
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
Ready to steppe it up – initiating coverage
Companies: Enwell Energy Plc
Hargreaves’ FY20 results are very solid indeed. As previously reported, the only noticeable impact from COVID was in the slippage of Blindwells’ land sales, which were due to conclude during the lockdown period. Site activity has resumed and sales remain on track to conclude in the current year. A final dividend of 4.5p has been declared and the outlook statement is measured but confident. We reintroduce forecasts today, effectively reinstating our pre-COVID expectations. Hargreaves is well positioned to deliver a period of significant, renewed growth with the prospect of a double digit dividend yield from FY22 as HRMS profits are distributed.
Companies: Hargreaves Services Plc
There was less tension this quarter, as Shell had already cut its dividend in Q1. The trading units rose to the occasion, bringing a positive surprise in this horrendous quarter. The company has recorded a very large impairment, and is poised to announce a strategic shift once 2020 is in the books.
Companies: Royal Dutch Shell 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
Production Unit licence for Talitha progressed
