Resources equity research

Explore the latest equity research and media content for companies in the Resources sector. These stocks operate in mining, industrial metals, paper mills and forestry. Mining sectors include coal, diamonds, and gemstones/precious metals.

Resources equity research

Explore the latest equity research and media content for companies in the Resources sector. These stocks operate in mining, industrial metals, paper mills and forestry. Mining sectors include coal, diamonds, and gemstones/precious metals.

  • 18 Sep 19

LIBERUM: Sirius Minerals* - Running numbers on potential financing solutions

Yesterday Sirius has announced the cancellation of its Stage 2 financing plans and the implementation of a strategic review after it failed to issue the $500m high yield bond required to unlock the full financing package. What matters for shareholder returns from here is the structure of any future financing solution and its likelihood of success.

Companies: Sirius Minerals
  • 02 Jul 19

Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC FDL GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 23 Jul 19

Quarterly Research Outlook - Summer 2019

In January, we provided a list of 11 stocks for 2019 that we believed would perform strongly with attractive catalysts that could lead to material outperformance. In this Quarterly Research Outlook, we revisit these views, analysing what has happened and how the remaining six months of the year could play out.

Companies: AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CALL CSRT TIDE CYAN DTG DEMG ELM EMR FPO FST GTLY GENL GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR HYR IBPO IOG INDI JHD JOG KAPE KEYS KCT KGH LAM LIT LOK MACF MANO PCA PANR PXC PHC PMO RBW RMM REDD RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG SOM TWD TRAK TSG TRI VNET VTC ZOO ZTF

  • 16 Sep 19

£5m fund raise

Savannah Resources has announced that it is raising £5m at 2p, including £3.76m through a placing and a further investment of £1.24m from major shareholder Al Marjan. The company’s principal project, the Mina do Barroso lithium project, is being rapidly advanced, although experience from recent spodumene mine startups in Australia has shown that there is a need to fine tune the plant design so that it can successfully process each individual deposit. As a result of the need for additional test work, the Feasibility Study is now expected to be completed in Q2 2020. We have reduced our price target to 15p, reflecting the additional shares and the current spodumene price.

Companies: Savannah Resources
  • 11 Jul 19

H1 2019 Operations Update

Central Asia Metals (CAML LN) announced robust operational performance yesterday with production on track for full year targets and our estimates driven by incremental operational improvements at Sasa. Q2 2019 zinc production of 5.9kt was up 7% YoY and 4% QoQ while copper production of 3.6kt was broadly flat YoY and up 23% QoQ while lead output of 7.1kt was down 3% YoY and 1% QoQ. With H1 2019 production of 6.6kt copper, 14.4kt lead and 11.5kt zinc, CAML is on track for our full year estimates of 13.4kt, 28.9kt and 22.9kt respectively with our zinc estimate upgraded by 3%.

Companies: Central Asia Metals
  • 06 Aug 19

LIBERUM: Sirius Minerals* - Bond offering delayed, to return in early September

Sirius announced this morning it has suspended its bond issue until market conditions have stabilised. The bond was due to price this week, but has coincided with an escalation in the China/US trade war, a devaulation of the RMB through 7 and a smaller than anticipated cut in the Fed funds rate which combined to drive a sharp equity/commodity sell off and risk-off in high-yield markets.

Companies: Sirius Minerals
  • 02 Sep 19

LIBERUM: Sylvania Platinum* - Results beat, Grasvally disposal but light on dividend

Sylvania has reported FY19 results (June Y/E) of $6.37/sh versus expectations of $5.95/sh due to a lighter tax expense than assumed. They have entered into a binding agreement to sell Grasvally for R115m ($7.6m at current FX), which should be settled in the next eight months.

Companies: Sylvania Platinum
  • 18 Sep 19

Cenkos: Landore Resources Ltd - Funding

Landore raised £470,000 at 0.725p with existing holders to further fund the working capital of the Company and its exploration programme, which includes drilling to further extend the BAM Gold Deposit to the east and to test mineralisation identified by the ongoing exploration along the highly prospective area between the BAM Gold Deposit and Lamaune Gold Exploration Target.

Companies: Landore Resources
  • 30 Jun 16

AIMing for income

So what is the profile of a typical AIM quoted company? The market’s detractors may argue that London’s junior market is peppered with cash consuming companies that are not sufficiently advanced in their route to profitability nor corporate governance regimes to justify their listing. Supporters of the London Stock Exchange’s growth market would say that the Alternative Investment Market is the world’s most successful market for growing companies rewarding investors prepared to brave the risks of earlier stage funding, and driving innovation and job creation. Neither view suggests that AIM would be a fertile hunting ground for income generating stocks. However a glance at the FTSE AIM All Share constituents (Source: Fidessa) suggests that over 250 of its members or circa a quarter of the market’s members pay dividends.

Companies: BVXP BOTB ITQ SHOE CGS DX/ HSP JIL IBEX PRP CAML GTC JIM CCAP ENTU FXI NAH ASY HGM PEN PEG AVG NXR

  • 16 Mar 18

Whitman Howard Morning Mining Summary

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.

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  • 09 Oct 18

Kalaba increasingly looking like a significant cobalt, copper discovery

ARC Minerals holds an effective 71.34% of Zamsort in Zambia and 99% of Casa which in turn owns ~73% of the Akyanga / Misisi Project in the DRC alongside 18.48% of Andiamo and a gold project in Slovakia. Zamsort has an exciting copper-cobalt project relatively close to First Quantum’s new Trident mine on the Copperbelt in Zambia.

Companies: Arc Minerals
  • 07 Mar 19

Excellent buying opportunity

We view the share price weakness since the interim results in November 2018 provides a good chance to buy the shares. Recent newsflow on the company’s website indicates that TFP continues to do well in green energy (fuel cells) and that it is launching next-generation non-woven composites at a trade show next week. In Paper, Cup-Cycling is gaining traction with a trial involving Leeds City Council and increasing brand interest in the trademarked product offering. We make no changes to forecasts and keep our 1500p TP and Buy rating.

Companies: James Cropper
  • 04 Jan 19

LIBERUM: Sylvania Platinum* - Share price disconnect to improved profitability

Sylvania Platinum's share price has retraced 27% since peaking at the beginning of September at 23.75p. This is despite the platinum group metal (PGM) rand basket price, the key indicator of the company's profitability, continuing on to multi-year highs of R16,271/oz.

Companies: Sylvania Platinum
  • 19 Jun 19

Pan African Resources - Solid push towards year end

In its nine-month operational update, Pan African Resources (PAF) disclosed production that is consistent with its FY19 guidance of 170,000oz. This caused us to reduce our FY19 forecasts fractionally in anticipation of lower production than we previously expected from Barberton offset by higher (but lower-margin) production from Evander underground and the BTRP. More importantly, however, Pan African’s directors approved the development of the Evander 8 Shaft pillar project, with production from as early as August, causing us to increase our forecasts for FY20 and beyond and our ultimate valuation of the company.

Companies: Pan African Resources
  • 16 Jul 19

Small Cap Feast

Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.

Companies: CALL BIRD ABC KDR EMAN BST SCE ZEG SAG FUL

  • 20 Aug 19

Greatland Gold - Panorama Project, Exploration Update

greatland-gold-panorama-project-exploration-update-20-08-2019
  • 14 Aug 19

Serabi Gold - Interim Financial Results

serabi-gold-interim-financial-results-14-08-2019
  • 29 Aug 19

Horizonte Minerals - US$25M Royalty Agreement with Orion Mine Finance

horizonte-minerals-us-25m-royalty-agreement-with-orion-mine-finance-29-08-2019
  • 05 Aug 19

Serabi Gold - Update on timing of PEA for the Coringa Gold Project

serabi-gold-update-on-timing-of-pea-for-the-coringa-gold-project-05-08-2019
  • 28 Aug 19

Ariana Resources - Kiziltepe quarterly operational update

ariana-resources-kiziltepe-quarterly-operational-update-28-08-2019
  • 25 Jul 19

Greatland Gold - Results from Newcrest's Drill Campaign at Havieron

greatland-gold-results-from-newcrest-s-drill-campaign-at-havieron-25-07-2019
  • 02 Sep 19

Ariana Rescoures - Kiziltepe Drilling Update

ariana-rescoures-kiziltepe-drilling-update-02-09-2019
  • 24 Jul 19

Anglo Pacific Group - Trading update

anglo-pacific-group-trading-update-24-07-2019
  • 03 Sep 19

Kodal Minerals - ESIA Lodged & Company Update

kodal-minerals-esia-lodged-company-update-03-09-2019
  • 23 Jul 19

Serabi Gold - Successful second quarter of production & update from Coringa

serabi-gold-successful-second-quarter-of-production-update-from-coringa-23-07-2019
  • 06 Sep 19

Serabi Gold - Coringa PEA Confirms Positive Economics

serabi-gold-coringa-pea-confirms-positive-economics-06-09-2019
  • 10 Jul 19

Kefi Minerals - Q2 2019 Operational Update

kefi-minerals-q2-2019-operational-update-10-07-2019
  • 12 Aug 19

Greatland Gold - Greatland Raises £4.2 million and Appoints Joint Broker

greatland-gold-greatland-raises-4-2-million-and-appoints-joint-broker-12-08-2019
  • 08 Jul 19

Greatland Gold plc - Update on Exploration Campaign at Panorama Project

greatland-gold-plc-update-on-exploration-campaign-at-panorama-project-08-07-2019
  • 02 Sep 19

Anglo Pacific - Acquisition of a producing copper royalty

anglo-pacific-acquisition-of-a-producing-copper-royalty-02-09-2019

Latest Content

Landore Resources

Cenkos: Landore Resources Ltd - Funding

Landore raised £470,000 at 0.725p with existing holders to further fund the working capital of the Company and its exploration programme, which includes drilling to further extend the BAM Gold Deposit to the east and to test mineralisation identified by the ongoing exploration along the highly prospective area between the BAM Gold Deposit and Lamaune Gold Exploration Target.

 View

  • 18 Sep 19
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Sirius Minerals

LIBERUM: Sirius Minerals* - Running numbers on potential financing solutions

Yesterday Sirius has announced the cancellation of its Stage 2 financing plans and the implementation of a strategic review after it failed to issue the $500m high yield bond required to unlock the full financing package. What matters for shareholder returns from here is the structure of any future financing solution and its likelihood of success.

 View

  • 18 Sep 19
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TMT MSI SJH AQX KDR ARIX SWG ARCM BLOE JAY

Small Cap Feast

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

 View

  • 17 Sep 19
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ARCM ARK BHP JAY OMI SOLG

SP Angel – Morning View

Arc Minerals* (ARCM LN) – STRONG BUY – ARC soil samples indicate potential for further copper discoveries within short distance from Cheyeza | Arkle Resources* (ARK LN) – Identification of new gold target at Inishowen | BHP (BHP LN) – Annual results dominated by iron ore | Bluejay Mining* (JAY LN) – BUY - Target price 21.3p - Bluejay submit paperwork for mining license at the Dundas ilmenite project in Greenland | Orosur Mining* (OMI LN) – Uruguay payment plan approved by court | Solgold* (SOLG LN) – Presenting at the Denver Gold Forum

 View

  • 17 Sep 19
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Anglo Pacific Group

Anglo Pacific - Labrador Iron Ore investment increase

 View

anglo-pacific-labrador-iron-ore-investment-increase-16-09-2019
  • 16 Sep 19

Savannah Resources

£5m fund raise

Savannah Resources has announced that it is raising £5m at 2p, including £3.76m through a placing and a further investment of £1.24m from major shareholder Al Marjan. The company’s principal project, the Mina do Barroso lithium project, is being rapidly advanced, although experience from recent spodumene mine startups in Australia has shown that there is a need to fine tune the plant design so that it can successfully process each individual deposit. As a result of the need for additional test work, the Feasibility Study is now expected to be completed in Q2 2020. We have reduced our price target to 15p, reflecting the additional shares and the current spodumene price.

 View

  • 16 Sep 19
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AMC ATM PDL SAV SOLG

SP Angel – Morning View

Amur Minerals* (AMC LN) – Kun Manie project update | AfriTin Mining* (ATM LN) – Maiden JORC resource at Uis tin mine | Petra Diamonds (PDL LN) – Annual results for year to 30th June | Phoenix Copper* - formerly Phoenix Global Mining (PXC LN) – Interim results and project update for Empire oxide project | Savannah Resources* (SAV LN) – £5m fund-raising | Solgold* (SOLG LN) – Solgold helicopter accident in Ecuador kills two

 View

  • 16 Sep 19
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ANG LSAI OVB ADAM OEX ODX MPE MWE SAV RBGP

Small Cap Feast

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.

 View

  • 16 Sep 19
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CGH RMM SRB

SP Angel – Morning View

Australian Vanadium (AVL AU) – MOU for VSUN grant and instillation of a new Solar and VRFB battery solution in Pilbara | Chaarat Gold* (CGH LN) – Interims: acquisition of producing Kapan and de-risking of Tulkubash development project | Rambler Metals & Mining* (RMM LN) – General meeting | Serabi Gold (SRB LN) – Presentation highlights pathway to 100,000oz gold production

 View

  • 13 Sep 19
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UNITED CO RUSAL

Profitability weakness persisted in Q2, although overall (long-term) attractiveness remains intact

While the US had lifted sanctions against Rusal in January 2019, the aluminium major’s operating profitability has so far remained pretty weak. Despite meaningful sales volume recovery in Q2 19, price headwinds, lower VAP sales and high costs weighed on the operating results. Thankfully, healthy income/dividends from Norilsk Nickel has/have sustained. Even though markets are expected to remain challenging in the near term, the benefits of aluminium’s strong (demand) fundamentals and Rusal’s integrated business structure should come to the fore, sooner or later.

 View

  • 13 Sep 19
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