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Panther Metals (PALM) the company focused on developing Canada’s next base metal volcanogenic massive sulphide camp and graphite deposit, is pleased to announce the commissioning of a high resolution airborne magnetic geophysics survey at the Company’s Obonga Project in Ontario, Canada. PALM said It’s a stunning achievement by its team to discover two previously unknown VMS systems on Obonga, from a total of only six holes drilled. It must now start to move into the ore discovery phase of work. The 2024 VMS exploration work programme kicks off with the commissioning of three high-resolution magnetic geophysics surveys and 3D inversion modelling as it targets stepping out its drilling of the exciting copper, zinc, silver targets at Wishbone and Survey, with Ottertooth being a new VMS exploration zone identified by its team on its flagship Obonga Project.

Comment: Interestingly PALM has delivered a very bullish RNS after the latest fundraise, something which normally happens in the small cap world in reverse order. However, those following the company will know its VMS potential, and this has been underlined today.

Trident Royalties (TRR), the diversified mining royalty company, noted the recent positive announcement by TSX- and NYSE-A listed Equinox Gold in Ontario, Canada. Trident holds an offtake for 100% of the gold produced at Greenstone up to 58,500 ounces per annum until 1 March 2027. TRR said it was very pleased to see its investment in Greenstone coming to fruition with the first gold pour. To build a mine with the various inflationary and supply chain pressures experienced during recent years is a great achievement by the Equinox team that demonstrates excellent focus, skill, and discipline. It looks forward to continued shared success as the mine ramps up into the second half of the year.

Comment: TRR seems to be on the front foot again, after the share price retreat since the beginning of last year. Presumably record commodities prices are starting to benefit the company in a material way as highlighted by today’s news.

Yesterday EnSilica (ENSI) announced a proposed equity fundraising by way of an accelerated bookbuild. The Bookbuild has concluded and that it has conditionally raised gross proceeds of £4.9 million at the Issue Price of 45p.

Comment: While ENSI may be the UK’s answer to Nvidia, it would appear that on the way it does need some cash to get there. This is fair enough. But after a decent promote to start with, ENSI does appear to have taken its foot off the communications pedal. Fortunately, despite this, the fundraise looks to have been easy.

Emmerson (EML), the Moroccan-focused potash development company, announced its 2023 audited results. EML said it has updated its environmental assessment to incorporate these optimisations and submitted the document during April 2024. It is currently awaiting the outcome of the latest review, following the upholding of the Company’s referral which resulted in the matter being returned to the Commission Régionale Unifiée d’Investissement for reconsideration, and will provide an update as soon as it hears news.

Comment: Although the stages to EML’s Nirvana seem to be even more numerous than getting to the real Nirvana, the company looks to be well backed in Morocco and has already done much of the heavy lifting ahead of the long anticipated green light.

Sunrise Resources (SRES) updated on its royalty interest in the Crow Springs Diatomite Project in Nevada, USA. SRES said it was pleased to see Dicalite progressing the development of the project so rapidly and look forward to seeing their Plan of Operations. It expects this to detail the scale of the operation which it believes will be a relatively simple mining operation extracting ore for delivery to their existing diatomite processing plant. It believes that Dicalite, permits allowing, is planning to start production as early as this time next year which would result in royalty income being generated from that point.

Comment: SRES shares have been stirring in a positive way in the 24 hours ahead of today’s news, so one would imagine someone believes that this RNS will move the dial for SRES, even though production is a year away.

Kinovo (KINO), the specialist property services Group that delivers compliance and sustainability solutions, provided a trading update for the year ending 31 March 2024, further to the trading update on 2 May 2024. KINO said that following its recent announcement that it has produced a full year performance ahead of expectations, it was delighted to provide more colour on what has been a critical year of strategic progress for Kinovo.

Comment: Given how well the company is clearly doing, it is perhaps a shame that its under the radar communications strategy continues to prevail. But one would at least expect the shares to hit the best levels of the year near 68p over the summer.

genedrive (GDR), the point of care pharmacogenetic testing company, announced that initial orders have been received for the Genedrive MT-RNR1 products from a further five UK hospitals in the Greater Manchester region as they progress towards the sustained deployment in clinical practice in these Neonatal Intensive Care Units. The total value of the orders is in excess of £100,000. GDR said it was delighted to see the positive effects of its direct to customer commercialisation strategy in the UK, with further NHS engagement and uptake for bringing this vital test which has the potential to avoid profound, irreversible hearing loss in babies.

Comment: Presumably those who took part in the recent £6m fundraise at 1.5p will be pleased that to balance this out £100,000 is coming back in via orders. Presumably GDR now has bought itself enough time for its commercialisation to gain critical mass.