Georgina Energy (GEX) announced progress on the evaluation of additional high potential targets for its well re-entry and development program, and an update on its core Hussar and Mt Winter prospects. GEX said that while its main focus is the commencement of drilling at Hussar before year end, for which it is fully financed, and the award of the Mt Winter Exploration Permit, it is excited about the possible additions of complementary well re-entry projects. It looks forward to keeping its shareholders informed, with several updates expected in the coming weeks and through to the commencement of drilling of Hussar.
Comment: It is already clear that the sociopathic sniping against GEX after the shares rallied well above the 12.5p listing price was and is totally against the newsflow and the company’s financial position. One would expect a return to the upper teens in coming weeks.
Ananda Developments plc (AQSE: ANA), a life sciences company focused on the research and development of CBD-based therapies for a range of complex inflammatory pain conditions, has released a whitepaper entitled ‘An introduction to Cannabidiol (CBD) as a Pharmaceutical Medicine’. ANA also announced its unaudited Company management statements for the quarter ended 31 July 2024.
Comment: ANA has already proved itself to be a smart play in a novel area, something for which there is a vast addressable market. The company is a serious contender against traditional pharma companies, and one would expect the shares to re-rate accordingly.
Mkango Resources (MKA) announced that HyProMag GmbH is participating in the €8 million grant funded GREENE project, of which HyProMag GmbH will receive €350,125. HyProMag GmbH is 80% owned by HyProMag Limited, a 100% owned subsidiary of Maginito Limited. Maginito is 79.4% owned by Mkango and 20.6% owned by CoTec Holdings.
Comment: MKA has seen its cache with investors rise as its chosen new focus in recycled rare earth magnets, alloys and oxides, inspires the market. This point has been underlined given the steady share price in the wake of last week’s £1.25m fund raise.
Hydrogen Utopia International (HUI), a company specialising in turning non-recyclable mixed waste plastic into hydrogen and other carbon-free fuels, new materials or distributed renewable heat, announces that Howard White has purchased 500,000 ordinary shares at an average price of GBP 0.0488.
Comment: Director buying follows at HUI in the wake of the generous £3m non-convertible working capital loan from the CEO earlier this week. Today’s purchase underlines the way that HUI is now set ahead of the revenues Ohrid will deliver shortly.
Arrow Exploration (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, provide an update on operational activity and announces the filing of its Interim Condensed (unaudited) Consolidated Financial Statements and Management’s Discussion and Analysis for the three and six months ended June 30, 2024. AXL said the horizontal well program at the CNB pad continues to exceed expectations, and the Company now plans to drill two additional horizontal wells before moving to the Chorreron prospect (formerly named Baquiano). This will result in a total of six horizontal wells at Carrizales Norte in 2024 with additional horizontal wells being planned for 2025. The Arrow team continues to reduce the time and costs needed to drill horizontal and vertical wells, using internally generated development drilling and completion strategies.
Comment: It has taken the market rather a long time to appreciate the brilliant operational run that AXL has been delivering, and continues to deliver. Arguably the re-rate has only just begun and will be given further ammunition as additional wells are drilled over the next year.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company focused on responsible resource development from carbon-neutral operations is pleased to provide an update on the production test on the State 36-2R LNW-CC well and the Company’s farm-in to the Salt Wash helium project, a previously producing asset with proven oil, gas and helium reserves located three miles to the south of Zephyr’s Paradox project in Utah, U.S. ZPHR said it remains confident in the significant potential value uplift the Salt Wash project represents. Additionally, it looks forward to the completion of the State 36-2R well production test and sharing the results in the coming days.
Comment: Shares of ZPHR are attempting to re-group after last month’s rug pull. But it may be that we shall have to wait for the completion of State 36-2R before the dust finally settles.
Kazera Global (KZG), the AIM-quoted investment company, announced that the on-site inspection of its Whale Head Minerals heavy mineral sands operation by an independent consultant on behalf of the National Nuclear Regulator was successfully completed on Friday 23 August 2024 and the NNR has now consented to the commencement of mining and processing at the HMS site. In feedback following the on-site inspection visit, the consultant commended the Company on the work it had undertaken as part of the NNR certification process. KZG said the positive feedback it received following the final on-site visit inspection is testament to the hard work and professionalism of the Whale Head Minerals team. Having now been given the green light to commence mining and processing is busy mining samples to send to potential off takers and hope to be able to announce good news in this regard in the not too distant future.
Comment: Shares of KZG have more than tripled so far this month, something which is as rare as it is welcome. Good news regarding off takers should only extend the rally.
Roadside (ROAD) confirmed the disposal of its four remaining pubs. The Disposal continues Roadside’s stated strategy to refocus the business on Roadside Real Estate assets. ROAD said it was pleased to have concluded the exit of our pub business and it continues to focus on the execution of its roadside real estate strategy.
Comment: ROAD has seen a significant re-rate since the spring, and one would consider this rally will continue as the company moves to sharpen its strategy, of which today’s news is a decent example. A move towards 30p and a £50m market cap seems possible.
Kavango Resources (KAV), the Southern Africa-focused metals exploration company, is pleased to announce the launch of its Capital Investment & Financing Programme (the “Cap-Ex Programme”) to develop the Company’s mining projects in Zimbabwe. KAV said it was extremely pleased with the rapid progress and achievements Kavango is making in Zimbabwe. So far, this approach has delivered highly encouraging results. In little over a year, it has gone from a standing start to being able to launch today’s capital investment programme at its Hillside Gold Project. It has a number of work streams running in parallel to maximise our speed of growth.
Comment: KAV remains the best example of an explorer which is properly funded, as opposed to the myriad peers who are living on bread and water. One would expect the stock to make decent progress through 1.5p early in the autumn.
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