RNS Hotlist: African Pioneer, Arc, Bezant, BlueRock, Brandshield, Ferro, Kendrick, Premier, San Leon, Wishbone, Xtract

Zak Mir
Trader's Cafe
07:00, 1st July 2022

San Leon's (SLE) announcement of 3 May 2022 noted that it had an option until 30 June 2022 to provide a further loan of $2.5 million to Decklar Resources Limited, in order to increase its shareholding in Decklar from 11% to 15%. The company said it is in discussions with Decklar in respect of potentially extending the Option Period.

BlueRock Diamonds (BRD), the AIM listed diamond producer, announced its audited results for the year ended 31 December 2021. The company said it continues to attract high prices for its high quality diamonds. So far in 2022 sales prices have averaged over $600, an increase of 29% on 2021 prices. Despite the advances made in 2021, there is still work to be done for Kareevlei to benefit fully from the potential of the new plant.

Premier African Minerals (PREM), reported on assay results at Premier's Zulu Lithium and Tantalum Project. The company said that the detailed results “are impressive.” Similarly, the early QXRD work confirms the view that the Zulu deposit is predominately spodumene. Notable is the pervasive Tantalum and Rubidium presence. The results reported on are from boreholes within the existing resource area and are part of the ongoing programme that is intended to upgrade confidence in the original resource estimate from an inferred level to an indicated level.

Ferro-Alloy Resources (FAR), the vanadium producer and developer, updated on the progress of the expanded feasibility study for the large Balasausqandiq vanadium deposit. The company said the drilling programme has been expanded to cover ore bodies 2, 3 and 4 as well as OB1 in order to provide enough reserve to feed the Phase 2 expansion for a targeted 20 year mine-life.  The Study is now including all aspects of Phase 2 although the second phase will be announced later than Phase 1. The Phase 1 study is expected to be completed on the previously announced timetable by around the middle of 2023.

Arc Minerals (ARCM) said that it received on 30 June 2022 the first cash payment of $125k towards the $1.5m receivable from the disposal of its Casa interests. The next $125k is due within the next 30 days and the issuance of $1.25m in listed stock remains due by 28 July 2022. The initial cash payments were delayed due to constraints imposed by relevant Canadian exchange regulations.

Yesterday afternoon / evening saw various companies slip their results out ahead of the end of the second quarter. Kendrick Resources (KEN) a mineral exploration and development company, with projects in Scandinavia, reported its full year results for the year ended 29 December 2021. The company said it intends to carry out fast-track metallurgical test work on vanadium mineralisation from the Airijoki Project, in order to determine a suitable process to produce either vanadium pentoxide flakes or vanadium electrolyte to add significant value against the alternative of producing a vanadium magnetite concentrate.

Xtract Resources (XTR) announced its audited financial results for the 12 months ended 31 December 2021. The company said it is embarking on a limited drilling programme at the Footrot prospect to the south of Racecourse-Ascot to test the veracity of the geophysics, which are also similar to Racecourse, and where previous companies have had some indication of porphyry style lithology.

Bezant Resources (BZT), the exploration and resource development company, reported its audited full year results for the year ended 31 December 2021. The company said The Mankayan project has now been monetised, and the opportunity exists for development for onward sale or for a dedicated IPO - all of which will be considered during the second half of this year. 

Wishbone Gold (WSBN), announced its final results for the year ended 31 December 2021. The company said that following the WA reopening in March it managed to get Heritage surveys completed and Red Setter and commenced surveys at Cottesloe.  The two prospects are vastly different in that whilst the QLD area has mineralization near to surface in WA our drill targets start at over 100 metres in depth. The latter requires complex drilling and management. It looks forward to announcing the results from both these programs as soon as the data has been analysed.

African Pioneer (AFP), the exploration and resource development company, reported its full year results for the year ended 31 December 2021. The company said it assets are very well placed in Southern Africa and it is of the opinion that both Botswana and Namibia are sources of “tomorrow's” copper production.  Furthermore, all its exploration projects have significant by-product potential, being cobalt in Zambia, silver in Botswana and gold in Namibia.

BrandShield Systems (BRSD), a cyber security company revealed its final results for the year ended December 31 2021. The company achieved a 59% increase in revenues to $4.13m ($2.6m in 2020) and a 59% increase in ARR to $5.22m ($3.28m in 2020). BRSD said that the strong growth trend has continued into 2022 with the May 2021 ARR figure standing at $6.3m, a 66.7% increase in ARR relative to May 2020.

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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