St Brides Weekly News 01-07-2016

This week, we have seen the fallout from the EU referendum vote dominate the news cycle and while some markets have been negatively affected by the Brexit vote, gold has experienced a resurgence. Good news for a number of our gold producers, which feature in this week’s brief.

Client catch-up:

Anglo Asian Mining took advantage of the surge in the gold price by hedging 18,000 ounces of its gold sales for the remainder of 2016, protecting the Company against the downside while giving it considerable exposure to any further increase in the price of gold during current market volatility.

Europa Oil & Gas was granted a two year licence extension at the Weald Basin in Surrey. The extension allows the 5.6 million barrel Holmwood prospect in Surrey to be drilled in late 2016/ early 2017.

Fitbug announced a £2.61 million equity fundraise which is fully underwritten by the Company’s long term supporter NW1 as well as the appointment of Tyler Tarr as part-time Finance Director to support the Company’s new strategy to target the substantial B2B market with its digital wellness technology.

Hummingbird Resources doubled its exploration exposure in Mali through an MOU with Kola Gold, which incidentally also has a JV in Mali with Alecto Minerals, giving Hummingbird a budget to explore through an independently financed vehicle. This could add major upside to its Yanfolila gold project, for which Hummingbird recently closed a £50 million fundraise (the largest AIM gold mining fundraise in 4 years), its mine which is due to generate +US$70m of free cash flow in its first full year of production starting in 2017.

Keras Resources’ interim results highlighted the Company’s rapid transformation into London’s only listed Australian gold producer, following its acquisition of four tribute agreements and a bolstered Board through the appointment of Peter Hepburn-Brown.

Noricum Gold has entered into a Heads of Terms agreement to potentially acquire significant additional gold and copper ounces in Georgia, very close to the Company’s current project Bolnisi from which it will be producing ore in Q3 2016 following a successful £1.1 million raise to fund due diligence and development of the prospect.

Secure Property >Development & Investment reported an 87% increase in its total asset value to €125 million and a 64% uplift in revenue from its South Eastern European property portfolio in its FY2015 results demonstrating the significant momentum achieved towards building the leading London listed property company focused on the South East European region.

Strat Aero held its AGM this week, in which Executive Chairman Graham Peck highlighted the UAV services and solutions provider’s revised strategy is focused on exploiting its existing assets, skills and experience in order to drive revenues and generate value for shareholders going forward.

You may have missed…

Highlands Natural Resources’ CEO Robert Price was in town discussing the commercialisation of its DT Ultravert Technology and its £4 million sale of its helium assets to Opera Investments with Justin Waite on the Vox Markets podcast.

New Kodal Minerals CEO Bernard Aylward sits down with Zak Mir of Tip TV to discuss how it is diversifying into gold through a suite of recent acquisitions in West Africa.

Alecto Minerals’ Mark Jones sat down with Share Talk to discuss the Company’s transformation from gold exploration to production.

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