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Chaarat Gold (CGH LN) Suspended – Kapan MRE update Fortescue (FMG AU) – FFI to work with Kazakhstan on green energy projects Horizonte Minerals (HZM LN) – Q3 results show Araguaia development progressing as planned Resolute Mining (RSG LN) – New funding for miners as Resolute announces underwritten placing Rio Tinto (RIO LN) – Rio hits roadblock with Turquoise Hill takeover on Canadian regulation concerns Venture Minerals (VMS AU) – High-grade REE mineralisation in surface samples at Gold
Companies: FMG RSG VMS RIO HZM CGH
SP Angel
Anglo American (AAL LN) – Production guidance maintained following Q3 2022 production report Atlantic Lithium* (ALL LN) – Quarterly update underpinned by delivery of PFS Glencore (GLEN LN) – Glencore staff may face bribery charges Fortescue (FMG AU) – Record Q1 production Greatland Gold (GGP LN) – Havieron feasibility study extended to help capture growing resource expansion potential shown in recent drilling Rambler Metals and Mining* (RMM LN) suspended – Pressure mounts to resolve the fi
Companies: RSG AAL GLEN GGP FMG ALL RBMTF
Anglo American (AAL LN) – De Beers reports continuing strength in rough diamond demand ahead of the traditionally quieter Diwali holiday season Atalaya Mining (ATYM LN) – Filing of Technical Report on Proyecto Riotinto Fortescue (FMG AU) – FFI to invest $130m in German gas import terminal Horizonte Minerals (HZM LN) – US$80m fundraising to advance the Araguaia project and progress feasibility work at Vermelho
Companies: FMG ATYM HZM AAL
Aura Energy* (AURA LN) – Plans to upgrade the Tiris uranium resource Castillo Copper (CCZ LN) – Proposed ASX listing of BHA deferred while historic exploration data is assessed Chaarat Gold (CGH LN) – Stronger commodity prices compensate for an increase in unit costs at Kapan, Tulkubash funding pushed out to H2/22 Fortescue (FMG AU) - plans huge 5.4GW wind, solar and battery storage hub in Pilbara Hummingbird Resources (HUM LN) – Yanfolila drilling results Oriole Resources (ORR LN) –Drilli
Companies: AURA FMG RMM ORR HUM CGH CCZ
Fortescue Metals Group (FMG AU) – FMG buys Williams Advanced Engineering for $223m Petropavlovsk (POG LN) – New CFO appointment Polymetal (POLY LN) – Novopet VMS project maiden MRE delivers 2.4moz at 8.0g/t Scotgold Resources* (SGZ LN) – BUY, 162p CLICK FOR NOTE - Ramping up Cononish Shanta Gold (SHG LN) – FY21 production results highlight challenging year Sibanye-Stillwater (SSW JSE) – Termination of $1bn Brazilian purchase deal Tirupati Graphite (TGR LN) – Madagascar progress update T
Companies: FMG SGZ SHG SBSW POLY TSO
Australian spodumene developer Altura Mining (AJM-ASX) announced that it was in discussions to be possibly taken over by its major Chinese shareholder. Assuming £1=AS1.75, the current 44 Australian cent Altura Mining share price implies a Mina do Barroso valuation of £67.5m, nearly 25% higher than our previous Altura Mining read through. Altura is a little further advanced than Savannah, with its Pilgangoora spodumene mine in Western Australia just coming on stream.
Macros: Commodities - Metals & Mining
Whitman Howard
Fortescue (FMG AU) | Rio Tinto (RIO LN) | Vast Resources (VAST LN)
Companies: FMG RIO VAST
Research Tree provides access to ongoing research coverage, media content and regulatory news on Fortescue Ltd. We currently have 0 research reports from 3 professional analysts.
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
WHIreland
Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren
Companies: Trinity Exploration & Production Plc
Cavendish
I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward
Companies: i3 Energy Plc
Zeus Capital
Companies: BILN ELCO NXQ CUSN ATG
• The Nong Yao-13 exploration well in the new Nong Yao D area that was targeting multiple zones has encountered >30 feet of new oil play across several new shallow intervals which have not been produced elsewhere on the concession. These reservoirs are believed to be recurring across the Nong Yao D area. • The drilling result confirms that oil has successfully migrated into this area of the block (a factor that was seen to be a risk in the Nong Yao D area) and open the opportunity for further a
Companies: Valeura Energy Inc.
Auctus Advisors
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.
Companies: Diversified Energy Company PLC
Dowgate Capital
Companies: 88E RNO TRIN KRM EXR BOOM
Chariot, Energean, Touchstone Exploration, Longboat Energy, Hartshead Resources, BP, Helix Exploration, PetroTal, Pantheon Resources, Caspian Sunrise, Petrofac, DNO ASA, Valeura Energy, Aker BP, Var Energi Source: FactSet, weekly change 08/04/24-12/04/24 Oil rose as Israel braced for a possible attack from Iran, a development that would threaten major disruptions in a region that accounts for a third of the world’s crude output. An assault is expected to come as soon as the next 48 hours, which
Companies: HHR TXP LBE CHAR
CPH2 has released FY23 results with the company completing the period with a slightly lower cash outflow from operations and a higher cash balance than forecast. Looking ahead, with a new and improved technical and engineering team, the company has committed to completing Factory Acceptance Testing of its first MW scale electrolyser, the 0.5MW MFE110, within the next three months. In our view, this will be a major milestone for the company which will demonstrate that its unique technology can be
Companies: Clean Power Hydrogen PLC
Companies: PLL TLG HZM SAV KAV KP2 SVML
Union Jack has released an update on its Wressle asset, reporting maturing production from Wressle-1, alongside progress for significant further development activities on the field going forward.
Companies: Union Jack Oil Plc
Pharos Energy reported FY23 results on 27 March. Group net production of 6,508 boepd (FY22: 7,166 boepd) was in line with guidance, assisted by successful development drilling in Vietnam and exploration successes in Egypt. Pharos’s strong cash generation resulted in a stronger balance sheet, with net debt reduced to US$6.6m (from US$28.9m at the end of 2022) and cash balances totalling US$32.6m. This left the group free to return more cash to shareholders, including a 10% increase in dividends,
Companies: Pharos Energy PLC
Progressive Equity Research
Shore Capital
Hunting has released its Q1 trading statement, reporting a strong period for OCTG and Subsea, steady growth in Advanced Manufacturing, and a softening in Perforating Systems.
Companies: Hunting PLC
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