RNS Hotlist with Zak Mir, 20th December 2021, AFP, I3E, ZPHR, CHLL, BIDS, TWD, MXC, POW, HUM, EEE, JAY, CMET, OBI & SENX via Vox Markets

African Pioneer (AFP), the exploration and resource development company, updated on the 85% owned Ongombo Copper Mine Project situated in Namibia, where a Mining Licence Application has been submitted to the Ministry of Mines and Energy.

By Zak Mir

The company said it is targeting a mine to process some 400-500Kt per annum with copper production in the region of some 7-8Kt per annum.

i3 Energy (I3E), an independent oil and gas company, announced its 2022 Canadian capital programme and dividend guidance. The company said it will embark on an extensive drilling program of 17 gross wells, 15 of which i3 will be operating. The programme will target low risk, high return production, including wells in its Clearwater and Simonette Montney acreage designed to accelerate value creation in these key plays. The icing on the cake for shareholders next year is that i3 is committing to pay a minimum of £11.827 million in dividends during the course of 2022 (3.5x all dividends paid during 2021), equating to 1.05 pence per share or a 10.2% yield at the current share price.

Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, updated on its proposed acquisition of non-operated working interests in the Williston Basin, North Dakota, U.S. The rapid advance of the Omicron variant means that completion of the acquisition will occur during January 2022.

Chill Brands (CHLL), the international consumer packaged goods company, announced that it has partnered with the U.S. Major Arena Soccer League (MASL), to offer the Company’s CBD products to the league and member teams. The partners will also create the Chill Athlete’s Lab which is designed to explore and implement the use of CBD to help athletes reach their top potential, something which could perhaps also be appropriate with regard to the recent Chill Brands share price performance.

There was a Soviet style delivery of the latest broker note from Cenkos on native in-game group Bidstack (BIDS), whose shares have recently doubled in value. However, given that the note is distributed on the basis that it is for “strictly personal use”, perhaps rather like CBD, no details of the note can be revealed.

Trackwise Designs (TWD), a provider of specialist products using printed circuit technology, confirmed the receipt of the Q2 2022 purchase order of £2.4m, in accordance with the Product Manufacture and Supply Agreement with its UK EV OEM customer. This Q2 purchase order follows the previously received 2022 forecast, and the £0.39m purchase order for Q1 2022.

MGC Pharmaceuticals (MXC), a European based bio-pharma company, announced that it is co-sponsoring a Clinical Study into the influence of MGC Pharma’s proprietary supplement, ArtemiC Support®, in patients with Long COVID Syndrome. The study is being sponsored by MGC Pharma’s distribution partner, Swiss PharmaCan AG, with 50 of the targeted 150 patients enrolled.

Power Metal Resources (POW) the London listed exploration company, announced its 2021 work programme results from three of its 100% owned interests surrounding the Athabasca Basin in northern Saskatchewan, Canada. The company said the confirmation of high grade uranium through assay testing of rock samples from the recent exploration programme is extremely positive and demonstrates the value of the diligent review work undertaken when the footprint was selected for staking earlier in the year.

Hummingbird Resources (HUM) provides an update on its extensive 2021 exploration drilling programme at the Sanioumale West and greenfield deposits, Kama and Diaban, at the Yanfolila gold mine in Mali. The company said further assays have recently been received from the Sanioumale East deposit drilling campaign at Yanfolila which, once fully reviewed, are expected to be reported in Q1 2022.

Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced an exploration update for the Eclipse Gold Project located within the Eastern Goldfields of Western Australia. The company said a thorough and rigorous assessment of the data collected to date has been completed, which is vital for designing and implementing the next phase of exploration. The analysis has confirmed that gold mineralisation at Eclipse is associated with a NW-striking and steeply SW-dipping shear zone with significant gold mineralisation known to extend over a strike length of more than 200 metres.

It would appear that it is Bluejay 1 HMRC 0. Bluejay Mining (JAY), the exploration and development company with projects in Greenland and Finland, provided an update on the VAT Tribunal and Upper Tribunal appeal made by HMRC. The company has now received the disputed VAT refunds for the period 2012-2021 with HMRC also withdrawing the last outstanding objections to the remaining VAT claims.

Capital Metals (CMET), a natural resources company, announced its unaudited interim results for the six months ended 30 September 2021 and provided an update on progress on the Projects post the half year end. The company said obtaining of the EIA demonstrates the Sri Lankan authorities’ support for the Eastern Minerals Project should enable it to meet its target of commencing commercial production in less than 12 months’ time.

Market newbie Ondine Biomedical (OBI), said it has initiated a clinical trial of its Steriwave™ photodisinfection technology for nasal disinfection in COVID-19 patients. The study will evaluate the impact of nasal decolonization on asymptomatic SARS-CoV-2 infected individuals. The single-center, randomized, placebo-controlled study is being conducted at the Central Unit for Clinical Trials at the University of Navarra in Pamplona, Spain and will involve up to 100 PCR-positive asymptomatic individuals.

There was a decent read across for Serinus Energy (SENX), as broker Arden commented on the effect of rising gas prices. The latest note slapped a 6p share price target on the company versus a current 1.6p market level.

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