RNS Hotlist: Bens, Block, First Tin, Great Western, Kefi, Kistos, Phoenix, Pure, Rambler, Serica, Tiger, Totally, Zenova

06:41, 12th July 2022

While we wait for shares of Bens Creek (BENS) to find their feet, the owner of a metallurgical coal mine in North America supplying the steel industry, announced that Murat Erden has, been appointed as the company's Chief Financial Officer and joined the senior management team. Murat will also be responsible for the development and implementation of the company's ESG and Sustainability strategy, which is apparently really important to some people.

Rambler Metals and Mining (RMM), a copper and gold producer, explorer, and developer, is announced its reconciled operational results for June 2022 and H1 2022. The company said Copper production for the month continued the upward trend of performance with access to high grade zones being a key part of this. June as a month and Q2 2022 as a quarter have set new records for the Ming Mine in terms of copper production. Going forward, Rambler said it will provide quarterly operational updates to the market which is now more appropriate given the condition that the operations have achieved.

It is always pleasant to see a CEO leading from the front. First Tin (1SN), a tin development company said that Mr. Thomas Buenger, Chief Executive Officer, has purchased 500,000 shares in First Tin at a price of 17.5 Euro cents per share on Monday 11 July 2022. Following this transaction, Thomas Buenger holds 1.13 per cent of the company.

Sometimes the newsflow in small caps gives one the thought, “I wish I had thought of that.” This is especially the case when it appears to be a very logical move. In the case of Kistos (KIST), it unveiled a “proposed combination” with Serica Energy (SQZ). Kistos, which has been one of the best IPO’s of recent times, led by stock market legend Andrew Austin, said the combination has strong industrial logic, significant value creation potential and achieves increased scale, relevance and trading liquidity for shareholders of both companies. Sounds about right.

Totally (TLY), a provider of frontline healthcare services, which has been pumping out positive newsflow in the recent past, announced its preliminary results for the 12-month period ended 31 March 2022. The company said revenues were £127.4 million (2021: £113.7 million) with underlying EBITDA (excluding exceptional items) of £6.2 million (2021: £5.0 million). Net cash as at 31 March 2022 stood at £15.3 million (31 March 2021: £14.8 million). During the year, it continued to help manage increasing demand and was positioned strongly to support the NHS and other healthcare providers over the next five to ten years. Clearly, the NHS needs all the support it can get currently.

Block Energy (BLOE), the exploration and production company focused on Georgia, said it has received confirmation from Georgia's State Agency of Oil and Gas that it has completed the minimum work programme in the production sharing contract for Block XIF, thus securing the licence to 2043. The company said this represents a major milestone and it has now completed all MWP requirements across its entire licence portfolio.

KEFI (KEFI), the gold and copper exploration and development company, announced the award of two additional exploration licenses through the Company's Gold and Minerals Limited joint venture in Saudi Arabia.  G&M is owned 30% by KEFI and 70% by its partner Abdul Rahman Saad Al Rashid and Sons Ltd. It could be argued that any news from the company which is not a fund raise is a win of sorts.

Tiger Royalties and Investments (TIR) revealed its unaudited portfolio value based on investments and cash only at 30 June 2022 was 0.15 pence (31 March 2022 - 0.20 pence). The share price closed at 0.25p yesterday.

Pure Gold Mining (PUR) announced the finalization of several agreements with its lending partner, a fund managed by Sprott Resource Lending Corp., including a new debt repayment schedule to enhance the company's liquidity and provide financial flexibility. PureGold also announced that its Operational Turnaround Plan is progressing, and that it is launching a strategic review process. Meanwhile, in order to better forecast the mine's near-term production, the company is postponing until August a 2022 guidance update that had previously been scheduled for June 2022.

It looks as though the powers that be at Zenova (ZED) are taking one for the team, or at least shareholders. The provider of innovative fire safety and heat management technology and products, announced that the executive directors and founders, have entered into a new Lock-In Agreement for a period of 12 months. The new lock-in agreement runs until July 2023.

Phoenix Copper (PXC), the AIM quoted USA focused base and precious metals emerging producer and exploration company, said that the Company's 2022 drilling programme is underway at the Empire Mine Project in Idaho, USA.  The 2022 drilling programme is expected to further Phoenix's understanding of Ammonium Thiosulfate as a non-toxic, environmentally friendly reagent for the recovery of copper, gold, silver, and zinc from the Empire open pit resource. It has to be admitted that Ammonium Thiosulfate does not sound that non-toxic, but presumably it is compared to others.

Great Western Mining (GWMO) announced that it has signed a non-binding Memorandum of Understanding to create a Joint Venture with an experienced Nevada mining contractor, for processing gold and silver from waste material on its mineral concessions in Nevada. Great Western and its proposed partner are currently negotiating a fully-termed operating agreement which will follow a standard industry format used in Nevada.


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.

Recent Articles