This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator.
Audioboom (BOOM), the podcast company, announced the renewal of its strategic commercial partnership with Australian Radio Network (ARN), and the continued expansion of its creator network through new commercial agreements with top tier podcasts including Stan Report with Brittany Broski, Networth & Chill with Vivian Tu, Teachers Off Duty and The NoSleep podcast. BOOM said that with Australia’s deeply engaged podcast audience and ARN’s proven capabilities, continuing this strategic relationship will provide its creators with the best commercial opportunities in the region – a key component to Audioboom’s global podcast strategy.
Comment: Today’s announcement is all fine and dandy, but it is the pounds, shillings and pence that investors are keen to size up with regard to BOOM and its share price.
Thor Explorations (THX) provided an operational update for the Segilola Gold mine, located in Nigeria, and for the company’s mineral exploration properties located in Nigeria, Senegal and Burkina Faso for the three months to March 31, 2023. The company said it was pleased to report another quarter of solid production at Segilola for Q1 2023. The planned west wall push-back is progressing and it is well positioned for an increase in gold production following its completion late in Q2 2023 as the mine head grade improves over the next 3-6 months. The 2023 MRE at Douta has more than doubled the contained gold within the Douta permit to over 1.7 million ounces, with the Indicated Resource component of the resource alone exceeding 870,000 oz of gold.
Comment: It is perhaps rather surprising that as compared to many of its listed peers, THX is going great guns in terms of both contained gold and increasing gold production. The company remains one of the more under-appreciated plays in its space.
Tekcapital (TEK), the UK intellectual property investment group, announced that it has raised a total of £2.0 million (c.$2.50m) before expenses, in an oversubscribed placing. The company said the net proceeds of the Placing will primarily be used to accelerate the growth of its portfolio companies.
Comment: For those who missed the February 20th placing of £2.3m, there is another chance to get on the TEK growth acceleration bandwagon.
Cordel Group (CRDL), the Artificial Intelligence platform for transport corridor analytics, announced unaudited third quarter results for the three months ending 31 March 2023. The company said the Amtrak contract signing was the third quarter highlight, together with continuing progress in the UK with both existing contracts and new opportunities. It has confidence in the full year outlook and will carry its largest ever backlog into the 2024 fiscal year commencing 1 July 2023.
Comment: One would have thought that any company involved in AI in any way at the moment would see its share price surge. This might be the case for CRDL if more people actually knew it was involved in AI.
Block Energy (BLOE), the exploration and production company focused on Georgia, announced its operations update for the three months ended 31 March 2023. The company said the first quarter of 2023 saw a robust start to the year. The company continued to deliver on its successful drilling and asset development programme, with the results of WR-B01Za leading to record group production levels being realised outside this reporting period.
Comment: Shares of BLOE have doubled since the start of April, and it should be the case that unlike previous recoveries, we see the stock sustain the rebound off the back of its recent operation / production progress.
Sabien Technology Group (SNT), a company focused on a green aggregation strategy, provides an update on b.grn Group Limited, the SPV formed by the company and Parris Group Limited on 21 December 2021. SNT said the visit to South Korea developed further key relationships between Sabien. b.grn, and COF. Specifically, and critically, the project now includes key partnerships with Hanyang and Woori; both bringing important components to this multifaceted project. The MOU brings together all the necessary elements in order to deliver the first UK Recycling Project Cluster in the Midlands. It builds on the low energy, low emission RGO process and will provide additional benefits from the utilisation of waste heat.
Comment: Perhaps rather under the radar, we have seen SNT make progress to actually deliver a waste plastic solution, in its case to oil. The recent share price rally suggests that some in the market have cottoned on to what is going on here.
Alkemy Capital (ALK) said that last week its team was invited to meet with the UK Minister for the Indo-Pacific, Rt Hon Anne-Marie Trevelyan to discuss the future working relationship between Australia and the UK to futureproof supplies of minerals that will be central to delivering the world’s net zero pledges. Sam Quinn, Director of Alkemy said that Tees Valley Lithium is offering Western Australian lithium miners the opportunity to diversify their revenue streams by processing spodumene at Boodarie into a primary lithium sulphate, refining into either a hydroxide or carbonate at Wilton in the UK, and sell a branded product into the European premium market.
Comment: Apart from the excitement of meeting a Minister, the latest RNS from ALK underlines the prospect of Australian miners using its Wilton facilities for refining lithium.
Zenith Energy (ZEN), the international energy production company, said that it is currently performing the necessary legal and technical work in coordination with the Ministry of Water and Mines of the Republic of Benin for the finalisation of a Production Sharing Contract for Block 1 containing the Sèmè oilfield, offshore Benin.
Comment: The recent rebound in Zenith shares rather underlines a growing appreciation of the group’s multi-pronged / multi-project strategy, such as the one announced today in offshort Benin.
Fulcrum Metals (FMET), a company focused on mineral exploration and development in Canada, is announced the acquisition of 42 claim cells covering 8.9km2 thereby extending the Company’s Winston Lake Project in Ontario, Canada, which is located eastwards of the Carib Creek property. The company said the acquisition of Carib Creek East incorporating 42 claim cells not only extends the company’s footprint in the Winston Lake area, but also provides additional presence over a highly prospective regional mineralised area. The area, which is underexplored, has had minimal historical work undertaken with promising results including copper in soils of up to 1,100ppm and in rock up to 1.35%. It is finalising exploration plans for the Carib Creek-Winston Lake project area.
Comment: It will be interesting to see whether the market appreciates the magnitude of today’s “land grab” news from FMET, and the company continues to underline its aggressive moves to progress since coming to market earlier this year.
Mosman Oil and Gas (MSMN) the oil exploration, development, and production company, announced that the Arco-Fee G-1 well at Cinnabar flowed oil following a successful workover to enable gas lift. Mosman has a 75% working interest in Cinnabar. The company said Production of G1 will be optimised with the addition of gas compression that is required to increase the gas injection pressure. This will require the identification, purchase and installation of a suitable compressor and associated facilities. The compression facility will also be designed to compress gas prior to sale at the nearby gas pipeline. Mosman will fund these items from existing cash reserves and the proceeds from the recent placing.
Comment: Mosman seems to be a new look company so far this year, something its recent share price recovery underlines. The progress at G-1 certainly helps.
Thor Energy (THR) announced the results from the Ambient Noise Tomography survey at the Alford West Project, South Australia, by 30% owned EnviroCopper Limited. The company said this low-impact ANT survey was extremely successful in subsurface mapping, in particular delineating the weathered “trough” structures which host the oxide copper-gold mineralisation within the Alford Copper Belt; with further processing and modelling, it will potentially highlight the higher-grade mineralised zones within these structures.
As announced on the 17th January 2023, United Oil & Gas (UOG) said it has entered into a binding asset purchase agreement with Quattro Energy Limited for the conditional sale of the UK Central North Sea Licence P2519 containing the Maria discovery in Block 15/18e. The long stop date for the satisfaction of the APA conditions was 16th April 2023. The parties to the APA have agreed an extension of this long stop date to the 17th May 2023 to allow additional time for the APA conditions required for completion to be satisfied.
Comment: With UOG already on the front foot in Egypt, the extension to Maria gives traders fresh impetus to remain with the positive re-rate of the company we have seen of late.
Harland & Wolff Group Holdings (HARL), the UK quoted company focused on strategic infrastructure projects, shared the findings of the Large-Scale Hydrogen Concept Study by Atkins, in connection with the company’s Islandmagee Gas Storage Facility that was initiated last year and has now been completed with a formal report issued to the company. HARL said it believes that this study and the Report’s findings takes it one step further in future proofing the project and preparing it for the transition from a natural gas to a hydrogen led economy. The findings of this study will be shared with the company’s current and future counterparties which will stimulate further detailed conversations on mechanisms to monetise the project.
Comment: HARL shares have continued to consolidate of late. But one would assume that we are not far off from a fresh leg to the upside to re-test the November peak at 28.5p.
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.
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