Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Hummingbird Resources. We currently have 123 research reports from 10 professional analysts.
Beowulf Mining* (BEM LN) – Mineralisation Vadar | Botswana Diamonds (BOD LN)* – Marsfontein mining contract | Kavango Resources (KAV LN) – Kavango selects new targets for 1,000m drill campaign | Bluebird Merchant Ventures* (BMV LN) – Formal notification of Gubong mine development permit | Hummingbird Resources (HUM LN) – Hummingbird settles with Taurus | Metal Tiger (MTR LN) – Environmental management plan for drilling
Companies: BEM BOD KAV BMV HUM MTR
Bluejay Mining (JAY LN) 7.3p, Mkt cap £63m – Hudson’s White Mountain Anorthosite mine starts production this week in Greenland | Hudson Resources (HUD CN) C$0.38/s, Mkt cap 68m | Hummingbird Resources (HUM LN) 22.0p, Mkt Cap £77.8m – Interim results | Katoro Gold (KAT LN) – Disposing of its Tanzanian gold projects | Prospect Resources (PSC AU) – Power supply agreement for Arcadia
Companies: JAY HUM KAT POW
Freyherr International Group PLC the Medicinal Cannabis holding company established in 2016, is planning to list on the NEX exchange on the 13 August
Companies: NBI AIEA TWD PXS INSE APPS GOAL AUTG USG HUM
Majors Mining News: o Protesters agree to lift Newmont Goldcorp blockade in Mexico | Juniors/Mid-market News: o SolGold appointment of Directors o Trans-Siberian Gold senior management appointment o Hummingbird second ball mill ahead of schedule at Yanfolila o Avesoro operations restart at Youga o Eurasia Mining application for Tipil licence lodged o Altus Strategies expiry of term sheet with Indiana Resources o Mkango announces exercise of warrants | Mining Regulatory News: o AMCU seeks basic wage of R17 000 (US$1150) for members in platinum sector o No more daytime drinking for metals traders as LME bans alcohol | Commodity News: o Strike at Codelco's largest copper mine triggers new supply fears o Thousands evacuated after floods hit Indonesia's nickel region o Iron ore price at fresh 5-year high
Companies: SOLG TSG HUM ASO ALS EUA MKA
Altus Strategies* (ALS LN) – Expiry of term sheets on Mali projects | Avesoro Resources (ASO LN) – Processing resumed at Youga | BlueRock Diamonds* (BRD LN) – BlueRock diamonds has sold its 24.98ct diamond for US$190,000 | European Metals Holdings (EMH LN) – Lithium hydroxide PFS confirmed | Hummingbird Resources (HUM LN) – Installation of Yanfolila’s second ball-mill running ahead of schedule | Vast Resources* (VAST LN) – Progress report on the Heritage Diamond concession
Companies: ALS ASO EMH HUM VAST BRD
AfriTin Mining* (ATM LN) – 3.2p, Mkt cap £17.4m – Phase 1 Pilot plant commissioning starts | Asiamet Resources (ARS LN) 5.4p, Mkt Cap £54.3m – Strategic investor takes 8.55% for US$2m | Bluejay Mining* (JAY LN) 10.12p, Mkt Cap £86.5m – RTIT to test material from Dundas | Hummingbird Resources (HUM LN) 14.5p, Mkt Cap £51m – Annual results highlight operationally challenging 2018 | Jangada Mines (JAN LN) 1.45 pence, Mkt Cap £3.4m –Disposal of Pedra Branca | Tertiary Minerals* (TYM LN) 0.375p, Mkt Cap £1.7m – New exploration project in Nevada | Thor Mining* (THR LN) 0.8p, Mkt Cap £6.5m – New investor presentation | Vast Resources* (VAST LN) 0.14p, Mkt Cap £11m – Results of general meeting and corporate update
Companies: ATM ARS JAY HUM JAN TYM THR VAST
SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019. Distribution Finance Capital Holdings plc — specialist lender which builds relationships with manufacturers and then provides working capital solutions up and down their supply chains to drive their growth is looking to join AIM. No raise, secondary offering of £19.8m at 90p, expected market cap of £95.98m. Expected 09 May 2019. Alumasc Group plc, the premium building products, systems and solutions group, has announced its intention to move from the Premium Segment of the main market to AIM. Expected market cap of £33.4m. Expected 25 June 2019 NEX Exchange Arbuthnot Banking Group plc, primarily involved in banking and financial services including commercial banking, private banking, wealth planning and investment management, is looking to joining the NEX Exchange Growth Market. Expected 17 May 2019
Companies: NICL HUM TPG TLOU OSI KMK AUG FPO BIRD MTFB
Base Resources (BSE LN) – Kwale North Dune mineral resource estimate | Bushveld Minerals* (BMN LN) – Vanchem acquisition to potentially add 4,200mtVpa and unlock Mokopane Vanadium Project | Galileo Resources (GLR LN) – Offtake negotiations for Star Zinc | Hummingbird Resources (HUM LN) – Liberia assets update | Mkango Resources* (MKA LN) – Full year 2018 results
Companies: BSE bmn GLR HUM MKA
Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer TBC, expected late April. SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019.
Companies: EVE CMCL MATD HUM THR CBUY ECSC TAM RBD CORO
Ariana Resources (AAU LN) 1.9p, Mkt Cap £20.1m – Q1 2019 preliminary production results | Armadale Capital (ACP LN) 1.3p, Mkt Cap £5.0m – Mahenge Liandu graphite project update | Asiamet Resources (ARS LN) 6.8p, Mkt Cap £68.2m – BKM drilling results | Beowulf Mining* (BEM LN) 6.1p, Mkt Cap £35.5m – Subscription to raise £500,000 | Caledonia Mining (CMCL LN) 421p, Mkt Cap £45.3m – Central Shaft remains on track | Hummingbird Resources (HUM LN) 18.4p, Mkt Cap £65m – Q1 production update | KEFI Minerals* (KEFI LN) 1.7p, Mkt Cap £11m – Q1 update | Neo Lithium (NLN CN) C$0.95, Mkt Cap C$111.6m – 3Q Environmental Impact Assessment submission | Orosur Mining* (OMI LN) 3.1p, Mkt Cap £4.7m – Q3 results highlights support by Newmont in jv with Orosur on the Anza project in Colombia | Rio Tinto (RIO LN) 4708.5p, Mkt cap £79.99bn – Cyclone disruption to Pilbara iron ore business overshadows solid production quarter | Thor Mining* (THR LN) 0.75p, Mkt Cap £6.1m – Drilling underway at Bonya tungsten project | W Resources (WRES LN) 0.53p, Mkt Cap £30.7m – Commissioning of the jig and mill plant underway at La Parilla
Companies: AAU ACP ARS BEM CMCL HUM KEFI NLN OMI RIO THR WRES
Caledonia Mining (CMCL LN) – Withdrawal of ECI scheme for gold producers | Hummingbird Resources (HUM LN) – Yanfolila exploration update | Oriole Resources (ORR LN) – Dalafin exploration to resume next month | Rambler Metals (RMM LN) – Private placement raises US$11m | Rio Tinto (RIO LN) – Iron ore mineral resource update | Savannah Resources* (SAV LN) – Significant new high-grade lithium discovery | Serabi Gold (SRB LN) – Mineral resource update for Coringa | Strategic Minerals* (SML LN) – Final shares issued for the Leigh Creek acquisition | Vale – Vale CEO and other executives resign following pressure from prosecutors | Vast Resources (VAST LN) – c.£850 equity placing
Companies: CMCL HUM ORR RMM RIO SAV SRB SML VAST VALE
Bushveld Minerals (BMN LN) STRONG BUY (from BUY) - Target Price 87p – Q4 Operating results report US$107m EBITDA | BlueRock Diamonds* (BRD LN) –Kareevlei resumes operations | Hummingbird Resources (HUM LN) – Q4 operations and production report | Keras Resources* (KRS LN) BUY, Target price 1.04p – First Ore Trucked to port from Nayega Manganese Project | Kodal Minerals (KOD LN) – Additional exploration concessions in Bougouni Lithium Province | Serabi Gold (SRB LN) – Coringa drilling extends strike and depth of mineralisation
Companies: bmn HUM KRS KOD SRB BRD
Bacanora Lithium (BCN LN) – Blackrock cuts stake | Erris Resources (ERIS LN) – Exploration update | Hummingbird Resources (HUM LN) – Progress report on exploration drilling | Savannah Resources (SAV LN) – High-quality saleable by-product from Mino do Barroso lithium project | Thor Mining (THR LN) – Mineral resource update at Pilot Mountain
Companies: BCN ERIS HUM SAV THR
PetroTal Corp is an oil and gas company whose shares are currently admitted to trading on the TSXV. The Company is focused on development of oil and gas assets in Peru and it currently has controlling interests in three onshore Peru license blocks. No new funds being raised. Due 21 Dec. Mkt cap c.£80m Litigation Capital Management—provider of litigation financing and ancillary services, moving from ASX (ASX:LCA) to AIM. Offer TBC. Due 18 Dec. Mkt Cap A$64m. Crossword Cybersecurity PLC* (NEX:CCS)—the technology commercialisation company focusing exclusively on the cyber security sector is due to start trading on AIM 14 December. Raising £2m at 290p. Mkt cap at issue price £13.6m. Manolete Partners—leading UK insolvency litigation financing business looking to join AIM raising £16.3m as a placing and £13.1 realised by the selling shareholder at 175p. Market cap £76.3m, expected 14 December 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 mid December.
Companies: SKIN THR SPR ACSO OTMP NANO TUNG GROW HUM VRE
Research Tree provides access to ongoing research coverage, media content and regulatory news on Hummingbird Resources. We currently have 123 research reports from 10 professional analysts.
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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 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
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
Strategic Production Acquisition and TSX Listing i3 Energy announced today that is has entered an option agreement to acquire all of the outstanding shares of TSX listed Toscana Energy Income Corporation. Toscana produced on average 1,065 boe/d in 2019 and has 2P reserves of 4.65 mmboe of which 55% consists of oil (and natural gas liquids) and 45% consists of natural gas. Toscana's low-decline production is located in Western Canada. Toscana's lands include a very large holding over one of Western Canada's leading new oil plays targeting the Clearwater formation. i3 Energy has acquired the entirety of Toscana's $C28.2M of senior and junior secured debt for $C3.4M representing a price of $C0.12 per dollar of outstanding debt. i3 is now Toscana's secured lender. The debt purchase was funded with i3 Energy's existing cash resources. i3 Energy has agreed to issue up to 4,399,224 of its shares, representing circa 4% of i3 Energy's existing share capital to acquire the entirety of Toscana's shares, representing a market value of circa $C0.55M based on the market values of 27 March 2020. We believe the announcement represents a positive and transformational change for i3 Energy.
Companies: I3 Energy
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
Caledonia today provides an update on its Blanket mine in Zimbabwe in the light of the full lockdown other than “for essential services” from today as ordered by President Mnangagwa. The mine is still operating as the authorities will grant exemptions for businesses which demonstrate they can operate in a manner that contributes to the management of the spread of Covid-19 infections. Caledonia has applied for this exemption.
Companies: Caledonia Mining Corporation Plc Com Shs Npv
Quadrise’s business development activity has intensified in the last nine months, with progress on opportunities in Morocco, South America, Saudi Arabia (KSA) and the marine sector. COVID-19 will potentially extend the length of time taken to complete trials. However, management notes that the current low oil prices are not likely to have a material impact on interest in using its innovative MSAR fuel as a heavy fuel oil substitute.
Companies: Quadrise Fuels International
Ironveld has signed a range of conditional financing agreements with Inclusive Investment Group (IIG) that mark a step change in its ability to advance its iron, vanadium and titanium project in the prolific Bushveld Complex of South Africa. The agreements will see IIG provide Ironveld with $3.2m in both debt and equity with IIG to take a stake of up to 46.8% in the company subject to certain shareholder approvals. This locks IIG in as a meaningful strategic partner and should allow Ironveld to progress Phase I of its project while it seeks the broader financing required to bring it in to development
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
Diversified Gas & Oil is emerging as a new model for the E&P market, balancing low fixed costs with efficient operations to generate consistent cash flows. Since the Company's foundation, DGO's strategy has remained unchanged, delivering stable production, whilst maintaining capital discipline to deliver cash flows and shareholder returns. Efficient operations combined with low fixed costs means DGO can deliver strong margins at low prices - vital in the current environment. The DGO model does not follow that of its capital intensive North American “peers” and nor does it follow that of its international London listed “peers”, putting DGO in a league of its own. With many of the Permian oil producers and Appalachian gas producers cutting back on capex in the current price environment, we see a recovery in the gas prices, with the current oversupply of gas turning into an undersupply as production and stores fall away. We believe the M&A market will provide a great opportunity for DGO over the next 12-24 months, with inevitably some E&P's not being able to survive the current low price environment. We update our model incorporating the extension of the Company's asset retirement agreement with the state of Ohio, the latest forward price curves and the GBP/USD exchange rate, increasing our price target to 148p/share (from 121p/share) and our BUY recommendation.
Companies: Diversified Gas & Oil
Against the backdrop subdued commodity pricing, JKX has delivered another robust set of annual results. Yesterday’s FY19 figures show a 9.5% yoy increase in revenues, coming in at the upper end of guidance, and a 116% increase in PBT to US$30.4m. Operationally, FY19 was an active year for JKX, delivering material value accretive barrels to the company’s production base in the Ukraine, whilst declines in Russia at Well 20 have been largely offset by Wells 18 and 5. The Company’s shares currently trade at only 83% of annualised cash generated from operations, underlining its deep discount to NAV therefore offers compelling value to shareholders in our view.
Companies: JKX Oil And Gas