RNS Hotlist with Zak Mir: HE1, FAR, ALGW, DVRG, CGNR, BLU, PREM, 88E, IOG, PANR, KDNC, SAV, CRCL, GSCU & ORR via Vox Markets

It would appear that Helium One (HE1) is shifting up a gear, as it announced the appointment of Liberum as the Company’s Nominated Adviser and joint broker effective immediately.

By Zak Mir

Liberum is obviously hoovering up new business as Ferro-Alloy Resources Limited (FAR), the vanadium producer and developer announced the appointment of Liberum as a joint corporate broker alongside Shore Capital Stockbrokers Limited effective immediately.

Also meaning business is Alpha Growth (ALGW), a financial services specialist, as it announced the appointment of Mark Ward as a Strategic Advisor to the company. Ward founded UK-based technology services provider Hunter Macdonald in 2013 and led its growth to circa 500 employees globally, its clients included HM Treasury, the Ministry of Defence and the Home Office, as well as private sector companies such as RBS, Airbus and Rolls-Royce.

DeepVerge’s (DVRG) consumer skin test subsidiary brand Skin Trust Club looks as though it is fast becoming the company’s Jewel in the Crown. It announced significant growth of the platform with leading skincare manufacturers enlisted on the Skin Trust App marketplace to sell their skincare product catalogues since mid-January. TULA Skincare, Aurelia London, Gallinée Microbiome Skincare, Plantkos, ESSE, High Beauty, Nunaïa, BE+Radiance, Better For You Wellness and DERMALA have all joined the Skin Trust Club App marketplace. In addition, over the last four months, 23 Labskin clients have contracted to have their products tested, many of which are expected to be added to the Skin Trust Club App marketplace.

Conroy Gold and Natural Resources (CGNR), the gold exploration and development company, announced results from the two holes that were drilled at the Clontibret gold deposit by Demir Export as part of its due diligence and validation programme, prior to entering into the Joint Venture Agreement with Conroy Gold. The drillhole locations and targets were designed by Demir Export and all technical work was undertaken by a professionally accredited independent geological consultant.

It is always good to see significant shareholders topping up a share price rise in stock. To this end, it was revealed that Mark White now stands at 11% in Blue Star Capital (BLU) from his previous 10% position.

Premier African Minerals (PREM) updated on progress at its Zulu Lithium and Tantalum Project. The company said the latest results are from an area not included in our initial resource estimates. They do support its expectations of further discoveries and a probable increase in the mineral resource at Zulu. At the same time, considerable work is focussed on refinement and upgrade of the resource. The current objective is to secure direct trade investment into Zulu from a potential leading industry partner.

88 Energy Limited (88E) announced the execution of a binding Securities Purchase Agreement (SPA) for the acquisition of a circa 73% average net working interest in established conventional oil and gas production assets in the proven Permian Basin, onshore Texas, U.S.. Project Longhorn contains independently certified net 2P reserves of 2.1 MMBOE. The purchase price for the acquisition is $9.7 million, comprising $7.2 million cash and $2.5 million in 88 Energy shares. The acquisition delivers immediate cash flows.

IOG (IOG), the Net Zero UK gas and infrastructure operator provided an operational update. The company said it had attended Bacton terminal late last week to go through a Pre-Start Up Safety Review ahead of final Saturn Banks commissioning. Terminal operator Perenco advised that the current stormy weather has hampered the final construction and leak testing programme with a knock-on impact on commissioning of the safety instrumentation systems. As a result the plant will likely not be ready to start backgassing until the week beginning 28th February, with First Gas from both Blythe and Elgood around a week later.

Pantheon Resources (PANR), the AIM-quoted oil and gas company provided an update. flow testing operations have now been completed on the Slope Fan System, a Brookian aged horizon, at Talitha #A. The company perforated two separate five foot intervals at 8160 – 8165 ft and 7855 – 7860 ft, within two distinct circa 50 ft sand bodies or ‘lobes’. The two intervals were stimulated and flow tested together, producing high quality circa 35 to 38 degree API oil and averaging 45 barrels of oil per day over a three day test period. On the final day of testing, the well was flowing at a sustained rate of approximately 32 BOPD from this combined 10 ft of perforations which is highly encouraging given production wells on the Alaska North Slope are drilled horizontally, which would typically result in materially higher flow rates.

Cadence Minerals (KDNC) noted that Hastings Technology Metals, Cadence’s joint venture partner at the Yangibana Rare Earth Project has announced significant progress on, and improved project economics. This is based on a Definitive Feasibility Study completed by Hastings in 2017 and revised in late 2021, follows an extensive and comprehensive review period, extending over three years, which has sought to de-risk project execution, optimise the flowsheet and enhance project economics.

Savannah Resources (SAV), the European lithium development company, announced that it has successfully achieved a major project milestone with the finalisation of the process flowsheet to produce spodumene concentrate at the company’s 100% owned Barroso Lithium Project. Minsol Engineering is satisfied that the flowsheet, which has been tested and refined over the past eight months, is now finalised and ready to be adopted for detailed engineering studies as part of the Project’s Definitive Feasibility Study and implementation. Answers on a postcard as to what spodumene is.

It is high finance time for Corcel (CRCL), the natural resource exploration and development company as it announced a partial debt conversion and a new combined debt and equity funding solution of up to £1,050,000. CRCL said the partial conversion of its debt and a new funding solution is expected to bridge the Company to several major value inflection events, and likely does so at prices well above the current market; therefore, reducing dilution.

Great Southern Copper (GSCU), the company focused on copper-gold exploration in Chile, said that it has received final assay results for 526 samples from the Phase I and Phase II trenching programmes at its San Lorenzo copper-gold (Cu-Au) project. The company said these results which continue to support the potential for broad zones of porphyry-style Cu-Au mineralisation with significant strike potential at San Lorenzo.

Oriole Resources (ORR), the AIM-quoted exploration company focussed on West Africa, updated on its Senala gold project in Senegal, where joint venture partner IAMGOLD Corporation has the option to spend up to $8 million to earn a 70% interest. The company has received a notice from IAMGOLD confirming that it has duly exercised the First Option outlined in the Option Agreement dated 28 February 2018 by incurring expenditures in excess of $4 million within the first four years of the Agreement. Therefore, subject to the Company completing a review of these expenditures, IAMGOLD will acquire a 51% interest in Senala.

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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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