Traders Cafe with Zak Mir: ADM, Ariana, Canadian, Chaarat, Cobra, Galantas, Greatland, GSTechnologies, Hummingbird, Maestrano, Mode, President, Tharissa, Tiger, Tirupati
Canadian Overseas Petroleum (COPL), the oil and gas and production company, announced the publication of a research note by Alternative Resource Capital. Those keen enough to go through various link sending and registration hoops would have found that there was a 55p -80p fair value on the stock from our friends at ARC. This compares to the overnight level for the shares of 29.25p.
It was D-Day for shareholders of Greatland Gold (GGP), of sorts, as the mining development and exploration company released a Corporate Presentation titled Greatland Gold - Growth Update including the long awaited results of the Havieron South-East Crescent Pre-Feasibility Study.
AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, Chaarat Gold (CGH) announced the completion of the Kyzyltash 2021 drilling programme. The drilling intersected significant high grade gold intercepts within the current JORC compliant measured, indicated and inferred sulphide resource of 5.4 million ounces at 3.8 g/t. The drill core will be used to determine the appropriate processing route for the sulphide ore. The asset will target approximately 300koz of annual production.
Hummingbird Resources (HUM) updated on the development of the high-grade Kouroussa Gold Mine in Guinea. The Company has secured a group level financing package from Coris Bank International to fully fund the Project into production, along with internal cash flows. Additionally, the Company has finalised all necessary engineering and study work to provide capex and timeline estimates together with project economics.
Galantas Gold Corporation (GAL) announced results for its ongoing 4,000-meter drill program at the Omagh Project in Northern Ireland. The first hole to target the Kearney vein from an underground drill platform returned two high-grade intersections. Surface drilling targeting the Joshua vein is also in progress and results for the first of these holes: 7.7 g/t Au, 24.3 g/t Ag and 0.6% Pb over a 2.7-metre downhole intersection.
Tharisa (THS) revealed its Q4 and FY2021 production results, saying that it had achieved its delivered on production guidance with record quarterly output of Platinum Group Metals and chrome concentrates. Record production performance has further strengthened the Company's balance sheet, with a Cash balance of $83.4 million and a positive net cash position of $47.9 million. FY2022 production guidance is of between 165 koz to 175 koz PGMs and 1.75 Mt to 1.85 Mt of chrome concentrates.
AIM-listed mineral exploration and development company. Ariana Resources (AAU), provided an update on Venus Minerals Ltd. Venus is focused on the exploration and development of copper and gold assets in Cyprus. Ariana is continuing its earn-in to 50% of Venus and is currently entitled to 37.5%, with 50% expected to be achieved in early Q4 2021.
Maestrano (MNO) delivered its final results. The Artificial Intelligence platform for transport corridor analytics company said that it is confident of continuing its current growth trend in FY22, acquiring new customers for Cordel and providing greater levels of service to its existing customer base. In addition, it is developing its distribution network to drive increased Nextcore unit sales.
Gold exploration company focused on the Wudinna Gold Project in South Australia, Cobra (COBR), provided an update on its recent exploration activities. The company has successfully executed the first phase of its 2021 exploration programme, with a total of 875 holes for 7,335 metres drilled across eight priority targets. The second phase of the 2021 programme will commence as planned later this month with the Reverse Circulation drilling programme.
Natural resources investing company, ADM Energy (ADM) announced the completion of the 16th Lifting at the Aje Field, part of OML 113 offshore Nigeria. The Lifting totalled 232,379 barrels with a net share of 21,424 barrels to ADM, which equates to ADM's profit interest of approximately 9.2%. The proceeds of the Lifting will be applied against the project debt, contributing to a reduction in the outstanding balance. The nominated offtake partner for the Lifting was Mecuria, a global energy and commodity group.
President Energy (PPC), the energy company with a portfolio of energy assets, announced an update on various of its activities. The company noted its core operationally profitable production assets in the Neuquén Basin, Argentina throwing off free cash from operations. At Atome, its green hydrogen and ammonia business, it looks forward as soon as is commercially prudent to providing more specific information on all activities which are both extensive and progressing.
LSE-listed fintech group, Mode Global (MODE) has launched its Open Banking payments and Bitcoin rewards solution with THG Plc, the proprietary technology platform specialising in taking brands direct to consumers globally. Mode's integration into THG has been accelerated and Mode can now be found on all 30+ THG brands at checkout, months ahead of schedule. THG brands include Lookfantastic, Myprotein and The-Hut.com.
It would appear that the waiting game is nearly over at graphite specialist Tirupati Graphite (TGR). The company said that it has received clearance of its 211 application from the Financial Industry Regulatory Authority ahead of the cross listing of its Ordinary Shares for trading on OTCQX Markets under the ticker TGRHF. Tirupati will confirm the start of trading as soon as the OTCQX on-boarding process is completed.
GSTechnologies Limited (LSE: GST), the fintech and information technology solutions company, appointmented Mr Bai GuoJin ("Jack Bai"), an existing Executive Director, as the Company's new Chief Executive Officer. Jack Bai, who joined the GST board in January 2021, has over 30 years' experience in software development for the financial and telecommunication industries. One of the Colin Bird stable of listed companies, Tiger Royalties and Investments (TIR) revealed its Quarter-end NPV Update. As of the end of September this was 0.23p a share. Portfolio highlights here include Caerus (CMRS), African Pioneer (AFP) and Jubilee Metals (JLP).
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