Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Rockfire Resources. We currently have 17 research reports from 3 professional analysts.
Abal Group (formerly on AIM) to relist as Supply@Me, a growing innovative "inventory monetisation" platform, having originated more than EUR300m of prospective "inventory monetisation deals" in its first six months of operating (to June 2018). In the first half of 2019, an additional prospective EUR300m was originated. As at the date of the publication of the Prospectus and Circular to Abal shareholders, dated 4 March 2020 , EUR972m of prospective contracts have been originated. Raising £2.2m. Due 23 March. The Proof Of Trust has announced its intention to list on the Standard Market. The Blockchain based business, owns patents to a protocol which facilitates dispute resolution based upon smart contract disputes. Transaction details TBC.
Companies: THR NSH FIPP RBD CDM OTMP TRB ROCK REDX ANIC
Rockfire Resources is an AIM-listed gold and copper exploration junior with projects located in northern Queensland, Australia. Drilling over the past two years on the most advanced gold project, Lighthouse, is pointing to the potential for a sizeable gold discovery. Management’s hypothesis is that the Lighthouse breccia-hosted mineralisation is analogous to that at the 1.5m oz Au Ravenswood/Mt Wright mine c. 45 km to the northeast. Recent drilling at the Plateau prospect is consistent with the hypothesis in terms of the mineralised area. Here management has referred to being ‘at the top of a very large gold deposit’. A new drilling campaign is scheduled for Lighthouse post the end of the wet season in April. In Q4 2020 it is planning an upgrade to the current JORC resource base along with a Lighthouse mine scoping study.
Companies: Rockfire Resources
Intention to float by Gemfields Group. No Capital Raise. Currently listed on JSE. (GML:JNB) at circa £122m. The Group's key producing assets, the Kagem emerald mine in Zambia (believed to be the world's single largest producing emerald mine) and the Montepuez ruby mine in Mozambique (one of the most significant recently discovered ruby deposits in the world), are both expected to have long mine-lives with potential for expansion. Also owns the Faberge brand. Due Valentines Day 2020. The Proof Of Trust has announced its intention to list on the Standard Market. The Blockchain based business, owns patents to a protocol which facilitates dispute resolution based upon smart contract disputes. Transaction details TBC. Calisen Group. Potential Intention to Float. Owner and manager of essential energy infrastructure assets through its subsidiaries Calvin Capital and Lowri Beck . Consolidated FY Dec 18 revenue £162.1m and operating profit £25.4m. Raising up to £300m in primary plus partial vendor sale. Expected Admission February 2020 The Global Sustainable Farmland Income Trust will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m. Due 28 February. Investment firm Nippon Active Value fund is seeking to raise up to £200m at an issue price of 100p per share via an IPO. The company aims to invest in a portfolio of quoted Japanese stocks with market capitalisations of up to $1bn. First day of dealings expected early February.
Companies: TRB MXCT ROCK ERGO TMT SNT TXP KAPE IHC SAA
The Pebble Group, a provider of products, services and technology to the global promotional products industry, announces its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange, which is expected to take place in early December 2019.The Group delivered revenue of £99.8m in the year ended 31 December 2018.No mention of bottom line and a suggestion that funds raised would provide an exit to private equity shareholders and the repayment of debt. Offer TBA. MJ Hudson Group PLC, the financial services support provider to Alternatives fund managers and asset owners, is planning an AIM IPO. Deal details TBC but expected admission date mid-December.
Companies: RFX ASLR GDR MRL TGP ROCK RENX ARCM KEFI
Essensys plc—a provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry, plans to join AIM. Offer TBC, expected 29 May 2019. Induction Healthcare Group plc—a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals looking to join AIM. Expected raise of £14.58m at 115p, market cap of £34.07m. Expected 22 May 2019. 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. 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
Companies: SCLP VGAS RBD AFC AGY ABDP IOF CPC ACT ROCK
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
Companies: SLN RWS D4T4 CIC SHG FFWD ROCK MSMN DLAR TPT
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. Diaceutics, a data analytics and implementation services company which services the global pharmaceutical industry, is looking to join AIM late March, offer TBC.
Companies: ARE MAFL HYDG BIRD SBIZ PEN ROCK AMO SXX SUN
United Oil & Gas (UOG.L) an oil and gas exploration and developm ent com pany brought to the Official List (Standard Segment) in July 2017 by way of a reverse takeover of Senterra Energy plc. No capital to be raised, expected market cap of £17m and expected 1 March 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. Polemos, to be renam ed Digitalbox plc, has agreed to acquire Digitalbox Publishing Holdings Lim ited for c.£10m through a share for share exchange. The acquisition constitutes a RTO. Polemos has also agreed to acquire the entire issued share capital of Mashed Productions Limited. a digital media business which owns the online satirical news website "The Daily Mash", for a maximum total consideration of up to £1.2m. Market cap on admission £12.4m, expected 28 February
Companies: ROCK VAST AVG REDD PGD IGE NTOG JAY TRS BKS
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 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 TBC, expected late November 2018.
Companies: COIN VAST EUSP AMC DKL ROCK IRON KMK NUC LSAI
Research Tree provides access to ongoing research coverage, media content and regulatory news on Rockfire Resources. We currently have 17 research reports from 3 professional analysts.
|03Apr20 10:12||RNS||Operational Update|
|03Apr20 07:00||RNS||Geochemical study strengthens Mt Wright analogy|
|31Mar20 17:00||RNS||Total Voting Rights|
|13Mar20 09:01||RNS||Plateau Gold Deposit Exploration Update|
|10Mar20 14:00||RNS||Issue of Fee Shares and Director/PDMR Shareholding|
|25Feb20 07:00||RNS||Major gold system hit in multiple holes at Plateau|
|04Feb20 11:59||RNS||Appointment of Broker|
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
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.
Central Asia Metals (CAML LN) having previously announced strong operating performance for 2019 released strong earnings results leaving the company well placed to cope with current pricing weakness and global uncertainty. Revenue of US$171.7m was down 3%, largely due to weaker commodity prices YoY. The weaker top line led to EBITDA of US$108.6m, down 15% YoY, however, margins were broadly maintained at 60% due to CAML’s low cost base. Net finance costs were down 27% as CAML continued to deleverage ending the year with net debt of US$80.2m implying a trailing net debt/EBITDA of 0.74x. EPS from continuing operations was consequently down 6.3% YoY while capex of US$12.1m, down 24% YoY, meant that levered free cash flow of US$69.8m was down just 5% YoY.
Companies: Central Asia Metals
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.
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
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
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