RNS Hotlist: Alien, Bluejay, Cora, Eurasia, Open Orphan, Pires, Tern, URA, Xtract

Zak Mir
Traders Cafe
08:06, 2nd March 2022

It will be interesting to see how the first day of dealings for central and southern Africa focused mining exploration and development company URA Holdings (URA) to the standard list pans out. The company, which is joining the standard list, has a blue chip board, and all for a bargain basement market cap of £2.8m. The last time we saw such a low ball entry valuation to the market was Bens Creek (BEN), which has subsequently multi-bagged in a matter of months.

RNS of the day has to be from Eurasia Mining (EUA) whose reiterated that the fundamentals of the company developed over years have not changed. EUA said that contrary to speculations none of the Eurasia's team members (being the largest shareholder group) have sold any shares in the Company and it is closely monitoring the evolving sanctions. No individual or entity identified in sanctions is associated with the Company in any way. Nor do the sanctions prevent the Company from executing on its M&A strategy as announced.

Xtract Resources (XTR) reported on further work completed in the area inclusive of the southern extension of Racecourse and the Ascot prospects on the Bushranger copper-gold porphyry exploration project. The company said the results continue to give it confidence in the conceptual open pit at Racecourse and the potential of the Ascot discovery.

Pires Investments (PIRI), the investment company focused on next generation technology, said it has agreed to invest in a new venture capital fund, the Sure Valley Ventures UK Software Technology Fund, alongside the British Business Bank. The company said the New SVV Fund is significantly larger and has much better economics compared to the first fund and will target “exciting” technology markets, including the Metaverse, Artificial Intelligence and Cybersecurity sectors. Tern (TERN) has also participated in the new fund.

Open Orphan (ORPH), a specialist contract research organisation said it will provide two live investor presentations in March 2022. The presentations will provide investors with an introduction to new Chief Executive Officer, Yamin 'Mo' Khan, who will make his maiden presentations on Company progress.

Alien Metals (UFO) unveiled continued significant high-grade Iron Ore drill intercepts at the Hancock Iron Ore Project.

Victoria Oil & Gas (VOG) has entered into a definitive agreement with Hadron Master Fund to raise gross proceeds of $1.15 million through the issue of an unsecured loan note.

Duke Royalty (DUKE), a provider of alternative capital solutions, announced a follow-on investment of £1.55 million into existing royalty partner Tristone Healthcare Limited to fund its latest acquisition.

Cora Gold (CORA), the West African focused gold company, updated on exploration activity at its portfolio of gold assets in southern Mali, with a new surface gold discovery at Sanankoro.

Marechale Capital Plc (AIM: MAC), a corporate finance house, has managed to get some corporate finance for itself. The company has raised £207,500.01 at 3p.

Physiomics (PYC), the consultancy using mathematical models to support the development of drug treatment regimens, has been awarded a contract by new client, Ankyra Therapeutics. Ankyra is a Boston-based biotech focused on improving both the safety and efficacy of cancer treatment.

Hummingbird Resources (HUM) updated on the company's infill drilling programme at the Kouroussa Gold Mine in Guinea, including a notable hole of 9 metres at 36.35 grams per tonne, amongst other high grade intercepts.

Lekoil (LEK), announced 28 February 2022 that it has entered into a convertible facility agreement with Savannah (SAV. However, it said in so doing, the board of the company has entered into agreements without any commercial logic and designed to deprive shareholders of the value in their shares, transfer value from Shareholders to themselves and to Savannah and to maintain themselves in the redundant governance positions they occupy. So not sounding too happy.

Bluejay Mining (JAY), the exploration and development company, and the European Raw Material Alliance announced the ERMA's official support for the Greenland-based Dundas Ilmenite Project, enabling it to secure supply of Dundas ilmenite for end users within the European Union. This will aid the creation of a secure mining and supply chain option for titanium ore and concentrate, of which ilmenite is the principal constituent, for the European Union.

Tlou Energy (TLOU) announced its interim results for the six months ended 31 December 2021. The company said that as a Sub-Saharan electricity company, the “future looks very bright indeed.” The Lesedi 10MW project is just the start. Tlou has the potential to develop this project into hundreds of MW's of power with our existing independently certified gas reserves and contingent resources. The potential opportunity is enormous.

Jadestone Energy (JSE), an independent oil and gas production company, announced that full production has resumed at the Montara Project offshore Australia.

Kavango Resources (KAV), announced an extension to the exclusive three month option to acquire 85.23% of KKME. Kavango now has until close of business on Friday 18 March 2022 to complete exercise of the Option.

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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