Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Crusader Resources. We currently have 19 research reports from 2 professional analysts.
Anglo American (AAL LN) – De Beers diamond sales | Aston Bay Holdings* (BAY CN) – Aston Bay Announces Exploration Agreement for Gold Exploration Property in Virginia, USA | Condor Gold (CNR LN) – Permitting application underway for the America and Mestiza pits | Crusader (CAS LN) – Suspended on AIM – Copulos potentially rushing asset sale ahead of 249d shareholder meeting on 22nd March | Crusader (CAS AU) – ASX listing also suspended | IronRidge Resources* (IRR LN) – Cape Coast Ghana lithium intersections | KEFI Minerals* (KEFI LN) – PM expresses support for the Tulu Kapi project | Keras Resources* (KRS LN) BUY, Target price 1.04p – 10,000t bulk sample completed and stockpiled ready for shipping | Thor Mining* (THR LN) – Plan to list Enviro Copper | Tri-Star Resources* (TSTR LN) – Goynuk sale completed
Companies: AAL BAY CNR CAS IRR KEFI KRS THR TSTR
Anglo Asian Mining* (AAZ LN) BUY – Target Price 96p – Dividend guided for a min 6USc in FY18 and FY19 + Maiden Gadir Resources/Reserves | Centamin (CEY LN) – 2018 results and proposed final dividend | Crusader (CAS LN) – Suspended on AIM – Directors stand down as part of financial restructuring. Beaumont Cornish resign as Nomad to Crusader. | Crusader (CAS AU) – ASX listing also suspended | MOD Resources (MOD LN) –80% uptake on entitlement offer | Phoenix Global Mining* (PGM LN) – Final drilling results from the 2018 campaign at Empire
Companies: AAZ CEY CAS MOD PXC
Bacanora Minerals (BCN LN) – Interim Results | Bushveld Minerals (BMN LN) – Lemur Q4 operational update | Crusader (CAS LN) - General meeting to endorse or restructure the board | Patagonia Gold (PGD LN) – Drill results from Uruguay | Serabi Gold (SRB LN) – Progress report shows January gold production in line with guidance
Companies: BCN bmn CAS PGD SRB
Anglo American (AAL LN) 1874.8 pence, Mkt Cap £24.23bn – De Beers diamond sales | African Battery Metals (ABM LN) suspended – Refinancing, business strategy and resumption of trading update | Arc Minerals* (ARCM LN) 2.8p, Mkt Cap £17.4m – ARC readies Pilot plant for first copper / cobalt production | Aura Energy (AURA LN) 1.1p, Mkt Cap £12.0m – Uranium offtake agreement for Tiris project | Condor Gold (CNR LN) 26p, Mkt Cap £17.5m – Mineral resource update for La India | Crusader (CAS LN) – Suspended on AIM, Investors call Section 249D Notice to remove key directors. Copulos to inject A$1m for convertible notes | Crusader (CAS AU) - Also suspended | Management Resource Solutions plc (MRS LN) 4.4p, mkt cap £8.7m – Contract win | Metal Tiger (MTR LN) 1.45 pence, Mkt Cap £19.6m Drilling results from the A4 Dome | MOD Resources (MOD LN) 19.0p, Mkt Cap £47.2m –Quarterly Report and update | Savannah Resources* (SAV LN) 5p, Mkt Cap £44.1m – Excellent test work from Mina do Barroso lithium
Companies: AAL POW ARCM AURA CNR CAS MRS MTR MOD SAV
Berkeley Energia Ltd (BKY LN) – Quarterly report December 2018 | BlueRock Diamonds* (BRD LN) – Inferred diamond grade rises by 5.4% at Kareevlei on consultant review | Botswana Diamonds (BOD LN) – Placing to raise £370,000 | Crusader (CAS LN) – Suspended on AIM, Further A$1.4m of convertible notes issued | Element 25 (E25 AU) – Butcherbird Resource infill drilling programme assays received | Strategic Minerals* (SML LN) – Redmoor drilling results
Companies: BKY BOD CAS SML BRD
Crusader (CAS LN) – Suspended on AIM, Crusader appoints new Nomad as it signs death spiral convertible | MC Mining (MCM LN) (Formerly Coal of Africa) – Chapudi Mining Right | Solgold* (SOLG LN) – Other exploration around Alpala driving SolGold
Companies: CAS MCM SOLG
Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected early December. Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA. Due early Dec Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is investigating the possibility of AIM admission. The Company is proposing to raise up to £2.25 million before the end of December, conditional on Admission. The Panoply parent company of a digitally native technology services group founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, is looking to join AIM. Offer £5m new capital, £400k sell-down, market cap of £30m, expected late 4 Dec 2018.
Companies: SCH VNH APPS PANR RGM CAS ECO QFI TRIN
Amur Minerals* (AMC LN) – 2018 field season to yield larger and higher confidence MRE at Kun Manie | Crusader (CAS LN) – Nomad resigns as company announces Death Spiral convertible deal and proposes Entitlement stock issue | European Metals (EMH LN) – Additional resource drilling underway at Cinovec | Galantas Gold (GAL LN) – Twenty-five tonnes concentrate shipment
Companies: AMC CAS EMH GAL
Cradle Arc* (CRA LN) – Placing | Crusader (CAS LN) – Stock remains suspended, publishes quarterly activities report | Europa Metals Limited (EUZ LN) – Extension drilling at the Toral zinc, lead, silver project in Spain | Gem Diamonds (GEMD LN) – Letseng increases diamond production 27% during quarter | Medusa Mining (MML AU) – E15 Service shaft commissioning | Sunrise Resources Plc (SRES LN) – Additional perlite discoveries in Nevada | Tri-Star Resources* (TSTR LN) – SPMP project update | Vast Resources (VAST LN) – Vast secures 29% interest in the polymetallic Blueberry Project
Companies: CRA CAS EUZ GEMD MML SRES TSTR VAST
Arc Minerals* (ARCM LN) – Drill results indicate significant scale copper project at Kalaba, Zambia | Beowulf Mining* (BEM LN) – SP Angel as Nomad and Broker | Bushveld Minerals* (BMN LN) BUY - Target Price 34p – Vanadium prices continue to edge higher | Crusader (CAS LN) – Stock suspended | Jangada Mines (JAN LN) – Environmental permit for trial mining | KEFI Minerals* (KEFI LN) – ANS signs binding agreement regarding up to $38m project funding | Phoenix Global Mining* (PGM LN) – US OTC listing | URU Metals Ltd* (URU LN) – Temporary suspension of trading on AIM | Vast Resources (VAST LN) – Final results
Companies: ARCM BEM bmn CAS JAN KEFI PXC VAST URU
PetroTal (TAL.TO) - The exploration and production company focused on oil assets in Peru is seeking a secondary AIM quoting before the end of 2018. Path Investments— First acquisition of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m raise. Due early Oct Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due Mid October 2018. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months.
Companies: SAR DISH BZT BST STX CAS ECK ABAL STAF TSI
Green Man Gaming—pure play e-commerce and technology company in the digital video games industry. revenue CAGR growth of 26.7% in the last three years to £47.5m. Due 28 Sep. EBITDA Profitable. Offer TBA Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is exploring its options in relation to a potential move to the AIM market of the London Stock Exchange which, if it were to proceed, would likely take place over the next few months. Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Seeking £10m. Offer TBA. Due Mid September Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa
Companies: CAS MRS IOG CCT SXX IGE FDEV SO4 RM2
Bushveld Minerals* (BMN LN) – BUY - Target Price raised to 34.2 from 31.8p – SOJITZ stake acquisition adds to value to | Bushveld Cradle Arc* (CRA LN) – Exploration licences renewed to north of Mowana | Crusader (CAS LN) – Interim results show trebling of costs
Companies: bmn CRA CAS
Path Investments (PATH) -RTO of a 50 per cent. participating interest in the producing Alfeld-Elze II gas field located 22 kilometres south of Hannover in Germany. Offer TBA. Due late Aug. Kropz PLC-Intention to float by the emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa and exploration assets in West Africa.
Companies: AUTG ADT RED MUL KWS KMK GKP LID CAS ADL
Crusader (CAS LN) – Consultants | IronRidge Resources (IRR LN) – Kineta project update - Multiple coherent soil anomalies defined with coincident artisanal workings | Thor Mining (THR LN) – Kapunda research funding | Wolf Minerals (WLFE LN) – Debt restructuring and funding review
Companies: CAS IRR THR WLFE
Research Tree provides access to ongoing research coverage, media content and regulatory news on Crusader Resources. We currently have 19 research reports from 2 professional analysts.
|07Mar19 09:46||RNS||Initial Director's Interest Notice - Appendix 3X|
|07Mar19 09:45||RNS||Strategies for the future of Crusader|
|07Mar19 09:40||RNS||Final Director's Interest Notice - Appendix 3Z|
|01Mar19 10:00||RNS||Appointment of new Directors|
|28Feb19 11:00||RNS||Result of General Meeting|
|22Feb19 12:45||RNS||Agreement on funding proposal and Board changes|
|22Feb19 11:05||RNS||Resignation of Nominated Adviser|
Sylvania's share price has fallen 53% since its peaked on the 21st Feb, as the global economy hit the brakes. The short term demand outlook for PGMs is miserable, with supply chains breaking down as both luxury goods and car sales sales collapse.
Companies: Sylvania Platinum
Oil posted a record weekly jump on hopes that global producers will decide to make historic output cuts next week, though optimism was tempered by concern that the curbs will not avert a glut. The OPEC+ coalition including Saudi Arabia will hold a meeting of its members by video conference on Monday, with the gathering open to even producers outside the group. While it's unclear who will attend, market watchers are predicting that stockpiles are likely to swell even if global supplies are cut by 10 million barrels a day. Investors will be closely watching the guest list of the meeting -- especially names outside the Organisation of Petroleum Exporting Countries and its allies -- after Saudi Arabia made clear it will only cut production if others, including the US, shoulder some of the burden. US West Texas Intermediate futures ended the week up 32%, while Brent crude jumped 37%. Still, prices are less than half the levels at the start of the year, with the coronavirus crisis crushing demand. One delegate from the producer group said a global cut of 10 million barrels a day is a realistic goal. Russian President Vladimir Putin told the country's top oil executives that producing countries should join together to slash output to reverse the collapse in prices, adding that worldwide curbs of a little above or below 10 million barrels a day are possible. Meanwhile, US President Donald Trump is convening an extraordinary gathering of the nation's biggest refiners and producers at the White House on Friday. They are expected to discuss possible relief efforts from the administration, including potential American output cuts. Prices: West Texas Intermediate for May delivery rose $3.02 to settle at $28.34 a barrel Friday. Global benchmark Brent crude for June settlement jumped 14% to $34.11 a barrel. Gasoline futures rose 2.88 cents to 69.16 cents a gallon Friday. Getting countries from all over the world to agree would be a tough task. Even if that's successful, an output reduction of the size that's being discussed will be just a fraction of the 35 million barrels of daily demand destruction some traders now see
Companies: FOG PVR 88E DGOC EME UKOG TRIN UOG
Shearwater sells resilience and today's trading update shows us how resilient demand has been for its products and services. The Group has swung to EBITDA profitability and cash flow is well ahead of expectations. The macro themes of cyber security and remote working are supportive of robust demand levels going forward. We are maintaining our forecasts. Buy.
Companies: Shearwater Group
Despite the severe effect of Covid-19 in the United States, normal operations continue for Diversified Gas & Oil (DGO), with little or no impact as a result of the virus. DGO's low decline production, low operating costs and proactive hedging programme, mitigate the impact of the low commodity prices, locking in cash flows and protecting the dividend. With rigs, capital and companies abandoning US oil shale, production is expected to plateau in May 2020 before declining. The decline in US oil shale production will also translate into lower associated gas production. Whilst existing stockpiles may be large enough to prevent a rally in gas prices this year, it sets the stage for a tighter market in 2021 as gas production continues to fall as demand rebounds. Whilst many of its North American and London listed peers have reduced, suspended or cancelled their dividend, DGO remains committed to maintaining its dividend to its shareholders. We reiterate our BUY recommendation and our 148p/share price target.
Companies: Diversified Gas & Oil
Caledonia today announces that it has taken the prudent decision to defer its approval for the payment of the second quarterly dividend (7.5c/sh - $0.9m - 7% of declared Caledonia cash). The Blanket mine in Zimbabwe remains in operation (at a slightly reduced capacity to secure Covid-19 social distancing) and the mine site remains well-stocked with supplies, so despite the current difficulties getting supplies from South Africa production at the mine can continue for some time to come; 2-3 months in our opinion, if the supply chain from South Africa ceased altogether. Touchstar is a supplier of mobile data computing solutions and managed services to a variety of industrial sectors. This morning, the group has released an update in light of COVID-19. The Board reports that it has taken swift action to re-engineer processes to adhere to government guidelines, whilst maintaining client service levels. Q1 2020 trading is reported to have been ‘broadly' in line, with revenue growth of 40% from continuing operations and outstanding orders to ship to customers in the coming months. Q1 was cash neutral, which follows on from the RNS on 5 February, of a net cash position of £849k as at 31 December 2019.
Companies: Caledonia Mining Corporation Plc Com Shs Npv Touchstar
We are reinstating coverage with a Buy rating and price target of 50p following the recent £15m share placing to fund production scale-up for micro-batteries. Our TP reflects a DCF of the micro-battery business which has sufficient customer interest to achieve over £12m annual sales by FY23 and £25m later this decade we believe, generating EBITDA of £1.7m and £7m respectively.
Much of the UK’s privatisation programme took place between the early 1980s and the mid-1990s: subsequent sales have been few. Undoubtedly, privatisation attracted many private investors to the market, many for the first time.
Companies: AVO AGY ARBB ARIX BUR CLIG DNL FLTA GDR NSF PCA PIN PXC PHP RE/ RECI RMDL STX SCE SIXH TRX SHED VTA
PowerHouse has signed an option for an exclusivity agreement for the UK with Peel Environmental. This potentially makes Peel the lead developer of DMG waste-to-energy projects, both on its own extensive land bank and on sites belonging to councils and waste management companies and other industrial partners across the UK. The agreement provides a mechanism for PowerHouse to monetise its IP through licensing and means PowerHouse will not need to raise finance for individual projects.
Companies: Powerhouse Energy Group
The Charlie-1 appraisal well has encountered movable condensate gas within the Torok formation in both the Middle Stellar and Lower Stellar targets, with the Company successfully recovering hydrocarbons to surface from both targets. The presence of movable condensate gas probably raises more questions than answers, with BP's Malguk-1 well, drilled in 1991, confirming oil in the Stellar targets. A potential explanation for this result could be facies change within the Torok, but we believe this would be highly unlikely, with Charlie-1 drilled proximal to the Malguk-1 well. Alternatively, we know that Malguk-1 ran into operational difficulties, which may have resulted in the data being compromised, raising further questions as to data validity. Whatever the reason, further analysis is required to determine if the discovery can be commercialised. We maintain our target price and valuation until the results of the Charlie-1 well are better understood.
Companies: 88 Energy
SolGold have successfully converted the Alpala resource into the Measured Resource category and at the same time, added another 1.6 Mt of copper, 2.5Moz of gold and 92.2 Moz of silver. This third resource update cements the scale and the viability of the operation, as well as increasing the value of the contained metal by 19% to $95bn.
Oil declined for a fifth straight week amid a one-two punch from collapsing demand due to the coronavirus crisis and ballooning supply from producers vying for market share. Futures in New York slumped 4.8% on Friday and are poised for the biggest quarterly drop on record as weak demand and an onslaught of supply roil markets. Refineries across the globe are curbing consumption as fuel use declines with people staying home. Meanwhile, major trader Trafigura Group expects as much as 1 billion barrels to be sent into storage tanks. More oil is headed into stockpiles as the Russia-Saudi war for market share that exacerbated crude's crash this month shows no sign of abating. The kingdom held firm on Friday, saying it hasn't had any contacts with Moscow about output cuts or on enlarging the OPEC+ alliance of producers. Russia also doubled down, with Deputy Energy Minister Pavel Sorokin saying oil at $25 a barrel is unpleasant, but not a catastrophe for Moscow. US crude has tumbled about 65% so far this quarter. The crash has crippled domestic producers who are forced to cut production for the first time in 35 years. The International Energy Agency this week warned that global demand was in “free fall” amid coronavirus lockdowns. Meanwhile, Iraq -- OPEC's second-biggest producer -- will allow national oil companies to boost their output and export without imposing any ceiling. Algeria has asked for an emergency OPEC board meeting to discuss the cuts. It comes as one of the world's largest supertanker owners said that ships are being filled with crude at a record pace, as land storage rapidly diminishes. Prices: West Texas Intermediate fell $1.09 to settle at $21.51 a barrel in New York on Friday. Prices dropped 4.1% this week. Brent crude lost $1.41 to settle at $24.93 a barrel. Swaps markets show that physical crude is selling several dollars below benchmark prices. The signs of storage starting to fill are growing, too. Inland tanks for heating oil in Germany are now full, while Pakistan banned oil imports on Thursday because its stockpiles are now sufficiently built up. Rigzone.
Companies: FOG PVR 88E DGOC EME POS TRIN UOG
Falcon Oil & Gas has announced it has farmed down a 7.5% interest in the Beetaloo Sub-basin to Origin Energy, with Origin increasing the gross cost cap of the Stage 2 and Stage 3 Beetaloo work programme by A$150.5m (cUS$92m) to A$263.8m (cUS$161m). As a result of the farm-down, we believe Falcon is now substantially funded for Stage 2 and Stage 3 work programme, eliminating equity and dilution risk for shareholders. Perhaps more importantly, Falcon is also fully funded through one of the greatest periods of uncertainty in the history of the oil and gas industry.
Companies: Falcon Oil & Gas
Oil posted the biggest weekly plunge since 2008, capping its most dramatic week in recent memory as major producers prepare to drench the market with supply just as the coronavirus crushes demand. But prices jumped following the close, after President Donald Trump said the U.S. would fill the nation's strategic reserve. Losses for the week totalled 23% after the collapse of talks between members of the OPEC+ group triggered the biggest crash in a generation. Instead of reaching a deal to cut output to mitigate the fallout from the virus, producers led by Saudi Arabia and Russia embarked on a war for market share and pledged to pump more.
Companies: TGL TXP VLU EGY GTE CNE DGOC ENQ SQZ UKOG TRIN TLW PHAR