Traders Cafe with Zak Mir: Caerus Mineral Resources, Condor Gold, Escape Hunt, Ferro-Alloy Resources, i3 Energy, NFT Investments, and Tissue Regenix
I3 Energy (I3E) continues to be a busy company in terms of newsflow, something which is not entirely surprisingly given the strong backdrop for oilers given the favourable commodity position, and the sprawling nature of the company’s assets and operations in Canada and the UK. The latest here is that the A-52-G horizontal gas well located on the company's Noel acreage in Northeast British Columbia was brought on-stream on 17 June 2021, averaged 650 boepd since start-up and exceeding initial expectations by 30%. At Clearwater, as of 26 June, five of eight horizontal lateral sections, averaging 1661 m in length, have been drilled, and operations have progressed on time and on budget. Production is expected to commence during July.
Sticking with the same space and Mosman Oil and Gas (MSMN) an update on the Falcon-1 well in East Texas, USA in which it has a 50% working interest. The company said the Falcon-1 well continues to produce gas and oil with a small amount of water, adding that it has now produced an average of 114 boepd of gas and 7 bopd of condensate for a total of 121 boepd (gross) over the last 5 days. Gas continues to be sold utilizing the existing pipeline facilities, and oil is transported off site by truck.
One of the features of the small cap space in the recent past is that even with good news share prices do not tend to keep their gains for long. It will be interesting to see whether Condor Gold (CNR) can snap this trend. The latest here is the announcement of a significant drill intercept of 25.93m (14.9m true width) at 3.94g/t gold from 263.82m, including 4.58m (2.6m true width) at 7.76g/t gold from 282.12m drill depth in drill hole CCDC033 at the Cacao Prospect. The company said the assay result supports the geological model that Cacao is a fully preserved, deep-seated epithermal gold mineralisation system, with the potential to host a significant gold deposit.
Perhaps in the same vein in terms of seeing how much of a reaction we shall get in present somewhat sullen markets, Ferro-Alloy Resources (FAR) had something to shout about. The vanadium mining and processing company with operations based in Southern Kazakhstan, received notice of further investment of $7m by Vision Blue Resources Limited under the Subscription Agreement entered into, as announced on 15 March 2021 and amended on 1 June 2021. The investment will bring the total invested to date by Vision Blue and its co-investors to $10.1m and comes on an accelerated timetable which will enable the expansion of the Feasibility Study as well as improvements on site to the existing operations.
Regenerative medical devices company, Tissue Regenix (TRX) has seen its shares on the front foot of late. It announced the completion of phase one of its expansion plans, which increases manufacturing capacity at its San Antonio Texas facilities. The company announced on 18 March 2021 that it had completed the initial part of its expansion project. Overall, phase one was completed both on time and on budget.
The international operator of escape rooms in the experiential leisure sector, Escape Hunt (ESC) was prepared to look on the bright side as we slowly emerge from the pandemic. The company said its UK owner-operated sites re-opened on 17 May 2021, following a pro-longed period of closure brought about by the lockdown. Revenue during the five-week period was 47% higher than in the same five-week period in 2019 (pre-pandemic). On a like for like basis, revenue in the five-week period to 20 June 2021 from the company's eight established UK owner-operated sites which were open in the same period in 2019 represented 87% of the revenue in the same period in 2019.
Another company looking on the bright side was NFT Investments (NFT) after a somewhat sticky debut on the AQSE part of stock market earlier this year. The investment company specialising in non-fungible tokens – NFT’s, reported “excellent progress” with its investment strategy despite difficult trading conditions in the crypto market. It said its highly selective and cautious investment policy, together with the Board's considerable industry experience, has positioned the Company to take advantage of the unexpected industry correction at more attractive valuations as and when investment conditions stabilise. NFT Investments made its first investment in Aeon for $1 million and is in the process of completing two further investments for a combined £1.1m. NFT stressed it has zero exposure to cryptocurrencies having made a 5.2% return amounting to $440,000 on crypto token investments before exiting the market prior to the latest industry decline. The company's balance sheet stands at £34.1m compared with net proceeds of £35m from the IPO and pre-IPO fundraise.
It has been a solid start to life on the stock market for Caerus Mineral Resources (CMRS), with a rising share price and tie up with Jubilee Metals (JLP) to boot. The latest here is that the exploration and resource development company focused on developing mineral resources in Europe to supply the global "Clean Energy" drive, announces the acquisition of Cyprus Gold Mines Ltd. The company holds three advanced copper - gold exploration properties, each with a mining history and potential for discovery of further high-grade, copper-gold Volcanogenic Massive Sulphide and epithermal gold deposits.
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