Altus Strategies* (ALS LN) 67p, Mkt Cap £47m – Cote d’Ivoire gold projects sale and NSR agreement signed | Ferro-Alloy Resources (FAR LN) 8.63p Mkt Cap £28m – £500,000 share issue and Astana bond issue to upgrade power supply | Ormonde Mining* (ORM LN) 0.8p, Mkt Cap £3.3m – Conducting diligence on a potential acquisition | Panther Metals (PALM LN) 11.5p, Mkt Cap £5.7m – Multiple geophysical targets identified at Big Bear gold project | Phoenix Copper* (PXC LN) 56.5p, Mkt Cap £33.5m – Further drilling results from the Empire open-pit site and Red Star prospect | SolGold* (SOLG LN) – 26.3p, Mkt cap £550.2m – Drilling underway at Porvenir | Sunrise Resources (SRES LN) 0.3p Mkt Cap £10.1m – CS Project receives air quality operating permit
Companies: ALS FAR ORM PALM PXC SOLG SRES
Adriatic Metals* (ADT1) – Government approval granted for land extension at Vares Silver project | Amur Minerals* (AMC LN) – Board appointment | Ariana Resources* (AAU LN) – Underground mining options considered and new vein discovered at Kiziltepe | BlueRock Diamonds* (BRD LN) –Diamond sales from Kareevlei average US$330/carat | Bushveld Minerals (BMN LN) BUY - Valuation 46.5p – Vanadium sales rise in first half despite Lockdown | Ferro-Alloy Resources (FAR LN) – Development of electrolyte for VFBs | Kodal Minerals* (KOD LN) – BUY – Sinohydro MoU offers potential to realise significant value | Sunrise Resources (SRES LN) – CS Project appeals window closes without any objections
Companies: ADT1 AMC AAU BRD BMN FAR KOD SRES
Ariana Resources* (AAU LN) – Kiziltepe remains on track amid strong metal prices | Altus Strategies* (ALS LN) - BUY – 100p – Interims | Galantas Gold (GAL LN) – Q2/H1 results reports that a strategic review of the future of the Omagh mine is underway | Ganfeng Lithium (002460 SHE) – Ganfeng Lithium reports difficult first-half | IronRidge Resources* (IRR LN) – IronRidge joins European Battery Alliance | Power Metal Resources* (POW LN) – Geophysics helps refine targets at Molopo Farms | Sunrise Resources (SRES LN) – Closing of £250,000 broker option completes £1m fundraising | URU Metals* (URU LN) – Drilling planned for the Zebediela project in South Africa
Companies: AAU ALS 002460 IRR POW SRES URU
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
Altus Strategies* (ALS LN) – BUY – 100p - Royalty and project generator with 1Moz of gold in Africa | BHP (BHP LN) –– Iron ore makes up 64% of EBITDA in FY 2020 results | Eurasia Mining* (EUA LN) – Eurasia limits funding to US$10m | KAZ Minerals (KAZ LN) – Interims: production guidance reiterated, 4USc dividend declared | Pure Gold Mining (PUR LN) – Anglogold Ashanti increases its stake in the Company to 16% exercising $5m worth of warrants | Sunrise Resources (SRES LN) – Mine Reclamation and Air Quality Permit issued
Companies: ALS BHP EUA KAZ SRES
AfriTin (ATM LN) – July concentrate production at Uis mine increases by nearly 80% | Europa Metals Limited (EUZ LN) – Board changes and progress report on Toral zinc, lead, silver project in Spain | Hummingbird Resources (HUM LN) – Production dips in Q2 but FY20 guidance maintained at 110-125koz and net cash status expected in H2/20 | IronRidge Resources* (IRR LN) – High grade drilling results at the Zaranou Gold Project in Côte d’Ivoire | Prospect Resources* (PSC AU) – Assays confirm Arcadia as an ultra-low iron lithium producer | SolGold* (SOLG LN) – Board changes | Sunrise Resources (SRES LN) – Mine reclamation permit is granted | Talga Resources* (TLG AU) – Feasibility Study and Talnode anode demand leads Talga to go directly to commercial production in 2022
Companies: ATM EUZ HUM IRR PSC SOLG SRES
Cora Gold* (CORA LN) BUY – Target 17.2p - Another new discovery at Sanankoro | Edenville Energy* (EDL LN) – Rukwa update | Gemfields (GEM LN) – Montepuez and Kagem operations remain suspended in response to Covid19 | Phoenix Copper* (PXC LN) – First results from 2020 drilling programme at the Empire mine | Rio Tinto (RIO LN) – US$2.5bn interim dividend | Sunrise Resources Plc (SRES LN) –CS Project granted mining permit
Companies: CORA EDL GML RIO SRES
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
Arc Minerals* (ARCM LN) –- Arc Minerals raises £2.37m at 1.7p per share | Asiamet Resources (ARS LN) – Progress on permitting the BKM copper project \ Aura Energy* - (AURA LN) – Further issue of shares | Ormonde Mining* (ORM LN) – Covid19 measures | Serabi Gold* (SRB LN) – Q1 results | Sibanye-Stillwater (SSW JSE) – CEO calls for South Africa to allow underground mines to run at full capacity | Sunrise Resources Plc (SRES LN) – CS Project environmental assessment
Companies: ARCM ARS AEE ORM SRB SRES
Pure Gold Mining (PUR LN) 42pence & Mkt Cap £151.8m – Drilling results from Madsden Red Lake | Sunrise Resources Plc (SRES LN) 0.13 pence, Mkt Cap £4.0m – CS Project secures water rights | Scotgold Resources* (SGZ LN) 63p, Mkt Cap £31m – Plant commissioning delayed to May/20 | Shanta Gold (SHG LN) 9.3p, Mkt Cap £73m – Exploration drilling returns high grade intersections at New Luika | Vast Resources* (VAST LN) 0.29p, Mkt Cap £30m – Baita Plai cold commissioning | Sirius (SXX LN) - Ding dong Sirius share are high – A Christmas Carol
Companies: PGM SRES SGZ SHG VAST SXX
SulNOx Group - The Group has developed a methodology and process capable of emulsifying hydrocarbon fuels such as diesel and heavy fuel oil . By January 2014, following preliminary laboratory testing, SulNOx was in a position to suggest that its products resulted in up to a 50% reduction of Nitrogen Oxide (NOx) and a 90% reduction in particulate matter Due 17 Dec, mkt cap £42.3m.
Companies: SRES K3C SENS MSYS TAL RLD TSG FUL BHRD AUTG
Centamin (CEY LN) – Expands on reasons to reject the Endeavour Mining offer | Bluejay Mining* (JAY LN) – Rio Tinto shuts Richard’s Bay as violence escalates | Firestone Diamonds (FDI LN) – Restoration of grid power at Liqhobong | Premier African Minerals* (PREM LN) – MNH investment | Rio Tinto (RIO LN) – Richards Bay suspension and investment at Kennecott | Sunrise Resources Plc (SRES LN) – CS Project permitting delay
Companies: CEY JAY FDI PREM RIO SRES
AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019. VAALCO Energy, Inc. (NYSE: EGY), an independent energy com pany focused on developm ent and production assets in West Africa, today announces its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange ("LSE"), to complement its existing Listing on the New York Stock Exchange. Kaspi.kz, the largest Paym ents, Marketplace and Fintech Ecosystem in Kazakhstan w ith a leading m arket share in each of its key products and services, announces today the expected publication of a registration document that has been submitted for approval to the FCA and its potential intention, subject to market conditions, to undertake an initial public offering. Registration document approved for Helios Towers. The Group provides essential network services, flexible infrastructure solutions and reliable power supply to mobile network operators in five African growth economies. Revenue increased 7 per cent. year-on-year to US$191m (H1 2018: US$178m), with Adjusted EBITDA up 15 per cent. year-on-year at US$99m (H1 2018: US$86m) for the six months ended 30 June 2019.
Companies: SRES ARE UFO ORM EVE ULS MTPH ONC AST GMAA
Aura Energy Limited* (AURA LN) – Haggan vanadium drill results | Conroy Gold & Natural Resources (CGNR LN) – Scout drilling at Slieve Glah | European Metal Holdings (EMH LN) – Successful placing to raise £750,000 | Horizonte Minerals (HZM LN) – Interim results | Serabi Gold (SRB LN) – Company expects strong margins for the rest of the year | Sunrise Resources Plc (SRES LN) – CS Project processing trials
Companies: AEE CGNR EMH HZM SRB SRES
Research Tree provides access to ongoing research coverage, media content and regulatory news on Sunrise Resources Plc.
We currently have 110 research reports from 5
In H1, 2020 and the period directly following (Q3, 2020), EQTEC has made substantial operational progress, significantly boosting its project pipeline and strengthening its balance sheet with an over-subscribed £10m fund raising in July 2020. Revenue generation in H1, 2020, however, was constrained due to the impacts of Covid-19 and severe fires in California. We now forecast revenue of €2.4m in 2020E, compared with our previous forecast of €7.0m. Importantly, no projects have been cancelled. Delayed revenue is expected to flow into 2021E. Select new projects, having been secured in 2020, are expected to reach financial close in 2021E and 2022E, in addition to those existing projects under development in those years. As a result, we are increasing our 2021E and 2022E forecasts.
Companies: EQTEC Plc
Adriatic Metals* (ADT1 LN) – Annual results and review of exploration | AfriTin (ATM LN) –– H1 report highlights production ramp-up at the Uis mine | Ariana Resources* (AAU LN) – US$30m partial disposal of Turkish Assets | Anglo Asian Mining* (AAZ LN) – BUY – Gedabek continue unaffected by the Nagorno-Karabakh conflict | Cornish Lithium (Private) - Cornish Lithium looking to bring the EV supply chain closer to home | IronRidge Resources* (IRR LN) – FY20 results: well positioned to continue de-risking portfolio projects with A$7.3m in the bank | Kavango Resources (KAV LN) – Resuming field exploration of the Kalahari Copper Belt, Botswana | Power Metal Resources (POW LN) – Exploration gets underway on Botswana joint-venture | Rambler Metals and Mining* (RMM LN) – Interims and refinancing of debt and planned restoration of mine production at higher copper grade | Renascor Resources (RNU AU) – Offtake agreement with Chinese anode manufacturer highlights China’s dominance of supply chain | Trans-Siberian Gold (TSG LN) – 8c interim dividend declared reflecting robust FCF and strong outlook | Versarien* (VRS LN) – New Advisory Panel brings together global leaders in graphene within Versarien
Companies: ADT1 ATM AAU AAZ IRR KAV POW RMM RNU TSG VRS
The offtake agreement between Piedmont lithium (ASX:PLL) and Tesla (NasdaqGS:TSLA) announced on 28.09.2020, whereby Piedmont will supply a new lithium hydroxide plant to be built by Tesla in Texas with spodumene concentrate, has created some strong buying momentum for lithium stocks in North America and Australia. The Piedmont share price was up over 200% after the announcement with Tesla – though the magnitude of the rise perhaps had more to do with the Tesla brand.
Companies: Savannah Resources Plc
Talitha Shelf Margin Deltaic LKA resource report
Companies: Pantheon Resources Plc
H1 2020 results; progress on concept selection
Companies: Jersey Oil & Gas Plc
Another set of record results from Iofina, with H1 2020 benefiting from improved iodine pricing, solid cost controls and robust operational performance. Some of the shine will be taken off by the cautionary tone over the impact of COVID-19 on current iodine demand and pricing. Nevertheless, these results on top of the recent debt refinancing again demonstrate the continued improvements Iofina is delivering both operational and financially. It now has a solid platform of diversified low cost iodine production from five plants, a range of iodine and non-iodine specialty chemicals products, an improved balance sheet and a new lending partner with which to deliver its ‘prudent growth’ ambition.
Companies: Iofina Plc
Jersey Oil & Gas has announced that it has selected a greenfield four-legged platform to develop the Greater Buchan Area which will utilise existing export pipeline infrastructure. We see near-term scope to increase materially our fair value estimate from 268p. We believe that today's news is price material and that it sets the scene for a near-term catalyst rich outlook for the company. It is an opportune time, in our opinion, to gain exposure to the Jersey Oil & Gas investment opportunity.
The stock was up 12% on Friday, 25/09, sparked by the positive outcome on Vodafone’s dispute with the Indian tax authorities. This is encouraging for Cairn, but note that both cases differ. While the tax authorities simply erased Vodafone’s tax bill, they owe up to $1.4bn to Cairn, and could offer more resistance.
Companies: Cairn Energy Plc
On Monday, Piedmont Lithium announced a Tesla offtake agreement for 30% of its future spodumene concentrate production. Piedmont’s shares jumped from A$0.10 cents to A$0.38 cents and closed at A$0.30 cents this morning. In addition to the positive association with Tesla, we believe that the market now recognises the reality of Piedmont’s project and upcoming spodumene shortages. Key takeaways for Savannah shareholders are:
Since our last note, KEFI has continued to advance towards its goal of achieving production in FY22. Among other things, this has included raising £3.7m in equity in May and establishing early-stage mining specialist, RAB Capital, as a cornerstone investor. More recently, it has also announced a maiden mineral resource at Hawiah (in Saudi Arabia) of 19.3Mt at a grade of 1.86% copper equivalent containing 359kt CuE (or 1.2Moz AuE) and a corresponding preliminary economic assessment (PEA), which confirms it as a high priority target. The company has consistently maintained its goal of formally agreeing its full funding structure with all participants in October 2020, ahead of construction in FY21 and first gold in FY22 and, to this end, development activities have continued unabated, despite COVID-19.
Companies: KEFI Gold & Copper Plc
Stable platform agreement with creditors extended
Companies: Premier Oil Plc
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
Chariot’s interims represent something of a line in the sand for the new management team, with historic oil-focussed deepwater exploration spend written-off, demonstrating its recent corporate and strategic ‘reboot’, which has ushered in a more entrepreneurial approach. Strategy has shifted away from higher-risk frontier exploration in favour of opportunities that better fit the energy transition. With the annual cash burn cut 45% to US$2.5m, no remaining work commitments and period-end cash of US$5.8m, management has a clear path ahead to deliver on its ambitions.
Companies: Chariot Oil & Gas Ltd.
Caledonia today announces another raise in the dividend to 10c a quarter; a rise of 18% from 8.5c a quarter previously. This is the third time the dividend has been raised within the last 12 months, with the dividend up 45% over the period, which demonstrates the underlying strength in its Blanket gold mine in Zimbabwe.
Companies: Caledonia Mining Corp. Plc
H1/20 has been a highly successful period for United Oil & Gas, during which time it has successfully transformed into a full-cycle E&P company. Key to this success has been the Abu Sennan acquisition, with net production increasing to 2,700boepd at the end of June. The significant production and reserve additions delivered as part of the 2019-20 drilling campaign emphasises the considerable upside that still remains in the block. Post period, United were granted a 100% operated working interest and an 18-month extension to the Walton-Morant licence, offshore Jamaica. At 229mmbbls, the Walton-Morant licence has the potential to have a major impact on United, which we value at US$724.3m or 76.8p/share unrisked. We update our valuation, increasing our price target to 19.1p/share, a 549% premium to the current share price and reiterate our BUY recommendation.
Companies: United Oil & Gas Plc