RNS Hotlist with Zak Mir: I3E, AXL, OEX, EME, GROC, EDV, ASLR, KMK, CGNR, CDL, AEXG, IOG, HUI, XPD, THR, GEM & SCE via Vox Markets

i3 Energy (I3E), an independent oil and gas company, has achieved a record for corporate production.

It provided a 2021 year-end reserves report for its subsidiary i3 Energy Canada Ltd. The company said i3 Canada has delivered record production exceeding 20,000 boepd, resulting from its low decline profile and strong drilling performance.

Arrow Exploration (AXL) said that the contracted Top Drilling Company rig has spud the Rio Cravo Este-2 well on the Tapir Block in the Llanos Basin of Colombia. The company said it was “delighted” to have spud the second well at Rio Cravo Este, RCE-2, on the Tapir Block. Following the completion of drilling and testing of the RCE-2 well, the rig will move to the location of its next well, the RCS-1 well, which is expected to spud in early-May. Overall, production remains strong at over 1,100 boe/d and continues to grow, producing positive cashflow during a high commodity price environment.

Oilex (OEX), where the punters are chomping at the bit for an item of news to get the share price moving, updated on its operations in India and in particular, with respect to the Cambay field. Oilex has been in detailed discussion with the Gujarat Pollution Control Board concerning the Company’s new Environmental Clearance Certificate. Apparently, journey to Nirvana is ongoing.

Empyrean Energy (EME), the oil and gas development company, updated on preparations to drill the Jade prospect, offshore China. The company said the effort, preparation and cooperation between Empyrean, COSL and CNOOC EnerTech has been excellent. With the improvement in weather, and it is close to commencing drilling at the 395 million barrel Jade target within days.

GreenRoc Mining (GROC), a company focused on the development of critical mineral projects in Greenland, has appointed two highly experienced independent consulting firms to undertake an Environmental Impact Assessment and a Social Impact Assessment at its Thule Black Sands Ilmenite Project in north-west Greenland.

Endeavour Mining (EDV) said that it will soon launch the construction of its Sabodala-Massawa expansion in Senegal, supported by the recently completed Definitive-Feasibility Study. The company said it is well positioned to unlock the full value of the Sabodala-Massawa complex as it has significantly de-risked the project.

Asimilar (ASLR), the investing company focused on technology opportunities, said that trading of its ordinary shares will commence at 8.00am today on the Access Segment of the AQSE Growth Market. The Company’s shares are also admitted to trading on AIM (LSE: ASLR). The company said believes in the opportunities offered by the AQSE Growth Market to improve liquidity in nascent companies, certainly, an interesting point of view.

Kromek (KMK), a developer of radiation and bio-detection technology solutions, said that it has been awarded a contract worth £1.7m from an existing UK government-related customer.

Pensana (PRE) updated on the results from the exploration programme undertaken on the Coola licence, located 16 kilometres north of the Company’s state-of-the-art Longonjo rare earth project in Angola. The company said it is “extremely encouraged” by the initial results from both Coola and Sulima West. These are very large structures reporting grades which are in some cases higher than those for Longonjo.

Conroy Gold and Natural Resources (CGNR), the gold exploration and development company, has been granted three further prospecting licences, PL3131, PL4554 and PL4559, in the Longford-Down Massif in Ireland covering an area of100 sq km.

Cloudbreak Discovery (CDL), a leading natural resource project generator, announced its interim results for the period ended 31 December 2021. The company said its key achievements include the initiation of an exploration programme on the Northwest Portfolio in British Columbia, a region where the Cloudbreak team has extensive experience.

AEX Gold (AEXG), an independent mining company, announced results of its 2021 exploration drilling campaign at the Nalunaq Project in South Greenland. The Nalunaq project is a past-producing underground mine which produced approximately 360,000 ounces of gold between 2004 and 20131, from three high-grade zones.

IOG (IOG), the UK gas and infrastructure operator, provided a further Phase 1 update. The company said it is working urgently to resolve the very frustrating platform mechanical issue which has shut in the Blythe well. Importantly, this is not a reservoir related issue and Elgood production continues in the meantime within a very strong gas market.

Hydrogen Utopia International (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, said it has recently tasked Linde Engineering to provide engineering guidance and advice by assessing the interfacing of the kiln and synthesis gas designs. HUI was given an honourable mention in the Sunday Express yesterday regarding the positive contribution it could make to the ongoing gas supply crisis via syngas which is a product of its technology.

Xpediator (XPD), a provider of freight management services, announced its final results for the twelve months ended 31 December 2021. There was substantial organic growth with group revenue increasing 34% to a record £296.6m (2020: £221.2m) with a particularly strong contribution from the Group’s largest division, Freight Forwarding.

Thor Mining (THR) provide an update on its Wedding Bell Project, located in the historic uranium-vanadium mining district within the Uravan mineral belt, southwest Colorado, USA. The company said it is lookingforward to getting on the ground and testing these shallow high-grade uranium targets, especially Section 23, which is untested despite the favourable geological setting.

Gemfields (GEM) announced the results of an auction of predominantly commercial quality rough emeralds held in Jaipur, India from 15 March to 1 April 2022. The company said it has witnessed another breakthrough for Kagem emeralds, with an auction of predominantly commercial quality emeralds setting a new all-time revenue record for Kagem and surpassing even its higher-quality auctions.

Surface Transforms (SCE) announced its preliminary results for the year ended 31 December 2021. Revenues improved 21% to £2.4m (2020: £2.0m). Gross margin was 65% (2020: 67%). Net research costs were of £3.4m (2020: £2.5m) after capitalising £0.3m (2020: £0.1m) of gross expenditure.

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Disclaimer & Declaration of Interest
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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