RNS Hotlist with Zak Mir: COPL, JAY, SDX, ALS, SHG, AAU, VAST & EQT via Vox Markets

Canadian Overseas Petroleum (COPL), an international oil and gas exploration, production and development company, announced “in market” share purchases by Arthur Millholland, President and CEO.

By Zak Mir

His purchases have been at an average price of $0.58/share, with settlement of the purchases occurring between January 25 and January 28, 2022. It could be argued that COPL shares have been slow to factor in recent massive discovery news.

Bluejay Mining (JAY), the exploration and development company, announced the incorporation of the joint venture company, Nikkeli Greenland A/S , which will be the new licence holder at Disko. Bluejay and KoBold are currently finalising the 2022 work and field program which Bluejay will manage and execute on behalf of the JV. Bluejay anticipates updating the market of these activities in the latter part of Q2 2022.

SDX Energy (SDX), the MENA-focused oil and gas company, updated on its unaudited operating results for the twelve months ended 31 December 2021 and setting out production and capex guidance for 2022. The company said full year 2022 production guidance is lower than 2021 actual production of 5,886 boe/d mainly due to the proposed South Disouq disposal. Full year 2022 production guidance is lower than 2021 actual production of 5,886 boe/d mainly due to the proposed South Disouq disposal and natural depletion across wells at South Disouq.

San Leon (SLE), the independent oil and gas production, development and exploration company focused on Nigeria, updated regarding the outstanding loan notes due from Midwestern Leon Petroleum Limited. San Leon has agreed with MLPL, Midwestern and Martwestern to a further extension of the Conditional Payment Waiver to 28 February 2022. Interest continues to accrue on the principal amounts waived whilst the Extended Conditional Payment Waiver is in effect, which relates to $100.4 million, being a principal amount due of $82.2 million and total accrued interest due of $18.2 million, which will be payable 90 days after such expiry.

Altus Strategies (ALS) announced it has completed the second and final closing of the recently announced acquisition of a portfolio of 24 royalties and royalty interests from Newcrest Mining Ltd. The Royalties have been acquired through a strategic joint venture with AlphaStream Limited, a specialist mining royalty and streaming company. Total consideration for the Acquisition was $37.5 million.

Shanta Gold (SHG), the East Africa-focused gold producer, developer and explorer, announced a reserves and resources update for its projects in Tanzania as at 31 December 2021. The company said it has once again replaced all annually mined ounces in 2021 with new reserves, as well as extending the mine life at New Luika Gold Mine to at least the end of 2026. This marks the third consecutive year in which it has replaced mined reserves across its portfolio.

Ariana Resources (AAU), the AIM-listed mineral exploration and development company, announced a resource update for the Kiziltepe Sector, including the satellite projects of Kepez, Kizilcukur and Ivrindi. Kiziltepe is owned by Zenit Madencilik San. ve Tic. A.S. in partnership with Proccea Construction Co. and Ozaltin Holding A.S. and is 23.5% owned by Ariana. The company said this updated Resource Estimate, demonstrating a 19% increase in total resources compared with its 2020 estimate, represents the culmination of a full year of work at Kiziltepe, involving over 15,000m of drilling.

Vast Resources (VAST), the AIM-listed mining company, updated regarding the proposed acquisition of Gem Diamonds Botswana (pty) Ltd, which owns the Ghaghoo Diamond Mine in Botswana . The company has informed Botswana Diamonds & Gem Diamonds of its intention not to proceed with the acquisition of GDB, as announced on 23 August 2021. The parties are working together to ensure a mutually beneficial outcome and in the interim an agreement has been reached to extend the longstop date to 31 March 2022 to allow BOD to secure an alternative joint venture partner.

EQTEC (EQT), a technology innovation company, updated for Q4 2021. The company said The final quarter of 2021 was busy, and the foundations set in 2020 and 2021 are now supporting targeted growth toward an increasing focus for EQTEC on licensing and innovating its technology.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.


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