RNS Hotlist: Bens, Braveheart, Cloudbreak, Duke, Eco, Eurasia, Horizonte, Ncondezi, Petra, Petro, Reabold, Revolution, Supply@ME

There was a reiteration of its current position in the wake of the Ukraine invasion from Eurasia Mining (EUA), the palladium, platinum, rhodium, iridium and gold producing company. It has reviewed the UK, EU and US sanctions as of this morning UK time. EUA said there is no impact on Eurasia's operations or activities. No individual or entity identified in the Sanctions is associated with the company in any way. It was evident yesterday that some bargain hunters were buying the stock near to the key chart gap support near 8p.

Cloudbreak Discovery (CDL), a natural resource project generator, whose shares have recently multi-bagged, said that it has entered into an Option Agreement on the Rizz Project with 1311516 BC Ltd. The Rizz Project is located approximately 90 kilometres south of Atlin, British Columbia and forms part of the recently staked Northwest Portfolio. Several surface showings have been observed within the same geologic setting and structural corridor as the New Polaris and Tulsequah Chief projects, which are targeting polymetallic mineralisation.

Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America supplying the steel industry, whose shares are nearly 6x since it came to market, provided an update. The company said it is “very satisfied” with the progress of the remedial works that have been undertaken on the preparation and wash plant which is in line with its expectations. It is now looking forward to commencing full processing of its production output.  The preparation and wash plant has a capacity of 350 tons per hour, which provides Bens Creek with substantial scope to increase production beyond the initial volumes agreed with our offtake partner, Integrity.

There was fighting talk from Braveheart Investment Group (BRH), as it updated on its investment portfolio and strategy. The company said that Braveheart's current share price has fallen in recent weeks, which has impacted other quoted companies in this space. However, the Board believes that while the current share price is now close to the net asset value stated in the unaudited Interim Accounts, Paraytec, though an important component of shareholder value within the Group will not on its own, determine the prospects for increasing shareholder returns.

Petro Matad Limited (MATD), the AIM quoted Mongolian oil company, provided an operational update. The company has advanced negotiations with operational service providers for the 2022 work programme and has secured some price reductions compared to the 2019 drilling programme. Contracts are being prepared in advance of discussions at the annual budget meetings with the industry regulator, the Mineral Resources and Petroleum Authority of Mongolia.

Revolution Beauty Group (REVB), the multi-channel mass beauty “innovator”, has completed the acquisition of certain intellectual property assets and inventory of the US born cosmetics brand BH Cosmetics Holdings for a consideration of $3.9 million. The acquisition was financed through the group's existing cash resources.

Duke Royalty (DUKE), a provider of alternative capital solutions, announced a follow-on investment of £1.5 million into its existing royalty partner Lynx Equity. The company said its near five-year partnership for expanding into Europe has been a collective success for Lynx UK, the businesses owners they acquire and Duke.

Eco (Atlantic) Oil & Gas (ECO), the oil and gas exploration company, announced its results for the three and nine months ended 31 December 2021, alongside a corporate and operational update. The company has cash and cash equivalents of S$5.8 million and most importantly, no debt as of 31 December 2021.Total assets stand at $19million, with current liabilities of $2 million and total equity of $17 million as of 31 December 2021.

Reabold (RBS), the AIM investing company, said that the longstop date of the equity exchange agreement with Daybreak Oil and Gas Inc., a US OTC traded oil and gas operator with assets in California, has been extended by mutual consent to 29 April 2022. The Transaction will result in Reabold becoming a major shareholder of Daybreak.

Supply@ME Capital (SYME), the innovative fintech platform that not as many people perhaps understand as the company would wish, said that it has received a partial conversion notice from Mercator Capital Management Fund LP in respect of £500,000.00 in principal amount of the Convertible Loan Notes issued by the Company on 2 February 2022, in lieu of a cash repayment, in accordance with the terms of the Loan Note Facility announced in the RNS of 29 September 2021.

Petra (PDL) said it has closed sales for approximately 80% of the volume of its Fourth Tender cycle for FY 2022.  In these initial tender results, 589,168 carats have been sold for a total of US$110.5 million, at an average price of $188 per carat. No Exceptional Stones were sold as part of these initial sales. Like-for-like rough diamond price increases on the six months to December 2021 are still being determined and will be announced when they become available.  As a result, it is not yet possible to determine how much of the increase in US$ price per carat is attributable to market movement versus product mix.

Ncondezi Energy (NCCL) updated on its working capital facility term loan with Seritza Limited. The current amount outstanding under the Loan is $300,000 and the Loan matured on 24 February 2022 Ncondezi has sufficient cash to repay the loan and remain funded until the end of H1 2022. As announced on 17 January 2022, the company is actively reviewing and implementing cash conservation strategies in order to extend its working capital position.

Horizonte Minerals  (HZM) the nickel company, said that following a competitive tendering process, Hatch Ltd. has been selected as the furnace supply vendor for the Araguaia ferronickel project. Hatch is the leading supplier of electric furnaces to the ferronickel industry, with a strong track record in South America, which includes both Anglo American's and Vale's nickel operations in Brazil and South 32's Cerro Matoso operation in Colombia.