- Shares of Metals One finally had a decent rebound yesterday, up 38%, seemingly off the back of a CEO interview. The market is also waiting on the imminent release of a PEA.
- Shares of Phoenix Copper (PXC) were dragged down to 5.25p yesterday, off the back of a corporate copper bond financing update. This actually had no new negatives, apart from the customary Nomad disclaimer. Those following the company and reading between the lines will note that NIU remains in play, there will be plenty of alternatives and additional funding choices, and that having enough capital until Q2 2025 gives PXC plenty of runway to get to where it wants to be.
Greatland Gold (GGP) announced on 10 September 2024 that certain of its wholly owned subsidiaries had entered into a binding agreement with certain Newmont Corporation subsidiaries (Newmont) to acquire, subject to certain conditions being satisfied, a 70% ownership interest in the Havieron gold-copper project, 100% ownership of the Telfer gold-copper mine, and other related interests in assets in the Paterson region (the Acquisition). GGP said “We are delighted to be nearing completion of Greatland’s transformational acquisition of Telfer and Havieron. The significant and collaborative efforts of the Greatland, Newmont and Telfer teams have enabled the continued progress towards the satisfaction of the transaction conditions and our integration work. We congratulate Newmont on the successful restart of processing operations and are excited to take over in a matter of weeks and emerge as a significant Australian gold and copper producer, with completion targeted by early December 2024.
Comment: After all the momentous news, the excitement and the PR, shares of GGP have recently been back at the lows. But perhaps it is the project rather than the share price that really matters…
Audioboom (BOOM), the global podcast company, announced that it has continued its strong momentum into the fourth quarter of 2024 and the Board now expects that Audioboom will generate an increased adjusted EBITDA profit of US$2.8 million, even further ahead of the recently upgraded market expectation of US$2.5 million.
Comment: A solid update made all the better by the fact that there has been not revelation of fresh director buying. Presumably, even though this is a decent RNS it will not be good enough to stop the permanent pesky seller at the 250p level. Also interesting that the shares have already bounced from 187.5p in the past week.
Volex (VLX), a company involved in mission critical applications and power and data connectivity solutions, announced that it has submitted two proposals to the Board of TT Electronics regarding a possible cash and shares offer for the entire issued and to be issued share capital of TT Electronics. The first proposal comprised 62.9 pence in cash and 0.203 new Volex shares per TT Electronics share which implied, at the time of the first proposal, a price of 129.0 pence per TT Electronics share. Lord Rothschild, Executive Chairman of Volex, commented: “We believe that bringing Volex and TT Electronics together in a highly synergistic transaction would create a scaled and diversified leader in the specialist electronics market which would act as a platform for future organic and inorganic growth and significant value creation.
Comment: If Lord Rothschild knocked on most people’s door, most would probably welcome him with open arms. In the case of TTG, after some 30 years of circling the airport, it might be a good time to finally come into land.
Tap Global Group (AQSE: TAP), the regulated crypto app bridging the gap between traditional finance and blockchain technology, announced the appointment of Peter Wall as Strategic Adviser to the Company with immediate effect. Peter has already begun acting in an advisory capacity to the Company. The Company intends to appoint Peter as Non-Executive Chairman of the Company, subject to satisfactory due diligence checks being completed. Peter is a seasoned executive with extensive experience in scaling early-stage tech companies. Formerly the CEO of Argo Blockchain plc, he successfully led the company through a period of rapid growth, including a public listing on Nasdaq following its initial success on the London Stock Exchange.
Comment: TAP’s hitherto treat ‘em mean, keep ‘em keen approach to the stock market looks as though it has been saved by Bitcoin pushing through $90,000. If BTC keeps rising, even bringing on Coco the Clown as a strategic advisor would get the shares to 10p. Hopefully, the timing is right as far as the arrival of Wall, although some may raise an eyebrow regarding the Argo Blockchain connection.
Helium One Global (HE1), the primary helium explorer in Tanzania, provided an update on the Galactica-Pegasus project in Las Animas County, Colorado, USA operated by Blue Star Helium (ASX: BNL). The Company completed a Farm-in Agreement with Blue Star on 4 November 2024. HE1 said these approvals enable the drilling phase to commence, and we very much look forward to entering this partnership with the Blue Star team and starting this exciting drilling programme this quarter.
Comment: After not finding the Saudi Arabia of helium in Tanzania, HE1 went for Colorado, and we are playing the waiting game gain. Oh, and it feels like it has been a long time since the last £8m fundraise.
Firering Strategic Minerals (FRG), an emerging quicklime production and critical mineral exploration company, provided a funding update as it fast-tracks its quicklime project in Zambia towards the start of phased commissioning in Q4 2024. It said it was prioritising a non-dilutive funding options to maximise shareholder value. 18-month unsecured bridge loan notes of up to £1,000,000: Accrues interest at 15% per annum, payable semi-annually.
Comment: Shares of FRG have been rising like a homesick angel of late, as if someone new that non-dilutive funding was on its way. And lo and behold, it was.
Guardian Metal (GMET), a mineral exploration company focused on tungsten, gold, lithium, copper and silver within Nevada, USA, announce its consolidated audited results for the year ended 30 June 2024.
Comment: GMET has been masterful at discovery and raising money at progressively higher levels. The icing on the cake will be non-dilutive US Government funding, which perhaps Donald Trump will accelerate.
Amaroq Minerals (AMRQ), an independent mine development company with a substantial land package of gold and strategic mineral assets in Southern Greenland, is pleased to announced several significant agreements in connection with the expected start of gold production at Nalunaq. These agreements mark a significant step as the Company prepares for its first gold pour in Q4 2024.
Comment: It still takes some mental adjustment to know that a London listed mine developer is actually going to pour gold. The key here is whether the shares will head to new highs through 80p in celebration in the near term.
GreenRoc Strategic Materials (GROC), a company focused on the development of critical mineral projects in Greenland, announce that the Government of Greenland has decided that the Company’s application for an Exploitation Licence for the Amitsoq Graphite Project in South Greenland fulfils submission requirements.
Comment: As we know from AMRQ, Greenland is a friendly jurisdiction for mining group’s and the latest green light certainly gets GROC on its way. A break of the 200 day moving average at 1.65p and a move towards 2.5p year highs could be the result by the end of the year.
EQTEC (EQT), a leading licensor and innovator of syngas technology for clean conversion of the world’s waste into sustainable energy and biofuels, to power the circular economy, announces the sale of its entire holding, being 60,606,061 shares, in MetalNRG (MNRG), the natural resources company, for total consideration of c. £0.2 million. EQTEC no longer considers its holding in MNRG to be strategic, following MNRG’s decision to withdraw from new energy infrastructure development to refocus on core mining opportunities. The investment was previously written off in EQTEC’s audited results for the year ended 31 December 2023.
Comment: Given the recent very well received Moroccan copper mine deal has boosted MNRG’s share price, EQT has done the logical thing and sold out. It will be interesting how much higher MNRG shares have to go, given the 0.75p technical target doing the rounds.
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