Eurasia Mining (EUA), the platinum, iridium, rhodium, ruthenium, palladium and gold mining company, announced that its AGM will be held virtually via an electronic meeting platform on 15 November 2024 at 9:00am. EUA said the geopolitical situation in Russia has altered the prospects for Eurasia Mining to advance the development of its mining assets. Positively though, it has noticed that as global interest rates start to ease, the prices for the metals are on an upward trend and there is renewed optimism for M&A opportunities. It is expanding the marketability of the Company and in that regard, it is planning a secondary listing in Kazakhstan on the Astana International Exchange.
Comment: There has already been a mini-squeeze higher in EUA shares in recent days, presumably as swivel-eyed shorters sniffed the kind of announcement of a possible secondary listing in Kazakhstan could be a game changer for the company, especially while Russia – Ukraine persists.
Bezant Resources (BZT) announced it has received the notice of preparedness of the granting of Mining Licence 246 for the Hope & Gorob copper – gold mining project located in Namibia (in which Bezant holds a 70% interest). The granting of the Mining Licence is conditional only on the Company completing and submitting a written acceptance, which it is in a process of doing. The grant will be subject to normal terms and conditions under the Minerals Act. BZT said it would like to thank the Ministry of Mines & and Energy for their hard work, diligence and professionalism and it looks forward to working with the Ministry and its various departments as it prepares to build and commission the Hope & Gorob mine.
Comment: The clue is in the name as far as Hope & Gorob is concerned for BZT, as it could be transformational, especially given the current lowly market cap. The more the company can finesse this asset, the greater the chance of shareholders getting the upside they have waited on for so long.
Feedback (FDBK), has signed a collaboration agreement with a provider of primary care solutions to explore the opportunities for a novel Neighborhood Diagnostics Solution. The intention is to explore creating a solution that combines the partners’ technology and Bleepa to streamline NHS diagnostic and pathway referrals between primary care, Community Diagnostic Centres (CDCs) and secondary care.
Comment: Any deal related to the NHS, one of the most inefficient, money wasting organisations in the world has to be a money spinner for any counterparty, even Feedback.
CAP-XX (CPX), a company involved the design and manufacture of thin, prismatic supercapacitors and energy management systems, announced that the Company has signed a contract with a new customer in the smart meter sector in South Africa. CAP-XX was selected by the Customer for the Contract following a successful design-in project.
Comment: Shares of CPX have been in something of a holding pattern since the early summer rally, with fresh newsflow such as today’s a possible driver for a new bull run.
SolGold (SOLG) updated highlighting key developments related to the Cascabel Project as Management continues to advance one of the world’s premier copper-gold projects. SOLG said with the imminent mobilisation of geotechnical drillers, the addition of key technical experts, and continued investor engagement, SolGold remains focused on advancing the Cascabel Project through its next stages.
Comment: It has been noticeable that even though the price of gold has rocketed, the share price of companies such as SOLG has been relatively pedestrian. One would imagine that eventually this disconnect will correct sooner rather than later.
Cornish Metals (CUSN) announced that it has entered into a non-dilutive £7 million (US$9.1 million) secured credit facility with Vision Blue Resources Limited to support the continued development of its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom. The proceeds of the Facility are expected to be used for the Company’s general operating and corporate purposes. CUSN said this funding signals Vision Blue’s continued support for Cornish Metals and its plans to bring tin mining back to Cornwall through the restart of South Crofty. It plans to generate value by unlocking the project’s potential as a long-term supplier of tin needed for electrical applications in the UK and Europe.
Comment: CUSN’s interestingly esoteric choice of interviewer looks to have presaged the latest finance arrangements for the company, something which given its non-dilutive nature should boost the stock further off recent lows.
Zytronic (ZYT), a specialist manufacturer of touch sensors, said it expects to report unaudited revenues for the financial year ended 30 September 2024 of £7.2m (FY23: £8.6m). Whilst the Company is expected to generate a 22% increase in revenues in the second half of FY24 versus the first half (H2 FY24: £3.9m versus H1 FY24: £3.3m), trading conditions remained challenging and based on current order intake, the Board does not anticipate a material recovery in volumes over the short to medium term.
Comment: ZYT delivers decent positive metrics in the latest RNS, but rather undercuts them with the “challenging” message, one that looks to have been “over – Nomaded”, a state of affairs which is alas all too common these days. This is of course one of the aspects that is simply killing the UK stock market, something the powers that be seem quite nonchalant about.
Thor Explorations (THX) provided an operational update for the Segilola Gold mine, located in Nigeria, and for the Company’s mineral exploration properties located in Nigeria and Senegal, for the three months to September 30, 2024. THX said “This has been a challenging Quarter for the Company. Operationally at Segilola, it has been impacted by extreme weather conditions with a heavy and prolonged rainy season and have also been disrupted by a fly-rock incident and logistics delays early in the period. Despite its challenges, which have ultimately resulted in a lower guidance for the year, it was pleased to have poured over 20,000 ounces of gold in the period whilst further reducing its AISC guidance for the year.
Comment: Another “challenges” RNS, which one could say over eggs the negativity and distracts the way that THX is clearly enjoying record gold prices, and is producing at a decent level.
Eco Buildings Group (ECOB), the UK-listed modular housing company, announced its first confirmed order under the terms of its contract with Egeu Stone, as initially disclosed at the time of the RTO. This follows confirmation that the Company’s state-of-the-art factory in Albania is now fully automated, operational and able to satisfy these orders. ECOB said it was confident that Eco Buildings offers the highest specification, lowest cost product on the market. With its fully automated factory now in production, it can provide prospective customers with both a tangible demonstration of its cutting-edge product and the assurance of reliable, scalable supply.
Comment: ECOB edges closer to being the “Ikea of modular housing” something which the market is still all too keen in terms of kicking the tyres here. Nevertheless, the latest contract underlines the way that the business model is set to take off.
Andrada Mining (ATM), a critical raw materials producer with mining and exploration assets in Namibia, provided the final results from its inaugural drilling programme at the historical Brandberg West mine, situated within the exploration license, EPL5445. The aim of this programme is to establish an initial understanding of the grade and geology within the historical open pit area and to investigate potential mineralised extensions to the north. These results constitute the second and final batch of samples from this programme, representing ten out of the twenty holes drilled.
Comment: Great fundamental and operational progress has been a highlight of ATM, something which makes it all the more disappointing that the shares are still languishing near year lows.
CloudCoCo (CLCO), a UK provider of managed IT services and communications solutions to private and public sector organisations, announces that one of its subsidiaries, CloudCoCo Holdings Limited, has entered into the Share Purchase Agreement to conditionally sell the entire issued share capital of CloudCoCo Limited, subject to, inter alia, Shareholder approval at the forthcoming General Meeting.
Comment: Shares of CLCO were covered here at ZaksTradersCafe on Sunday as a possible charting buy with an initial target of 0.4p. They have blown the lights out on the target, rising by 2x on today’s news.
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