RNS Hotlist with Zak Mir: I3E, TGR, COPL, GGP, GSCU, SAR, RGO, POLB, ODX, UKOG, PHE, CNR & THX

i3 Energy (I3E), an independent oil and gas company, announced unaudited results for its period ended 30 June 2022.

Author @ZaksTradersCafe

This included H1 revenue of £101.6 million (H1 2021 £26.5 million), net operating income. The company said that the focus for the remainder of 2022 will include the growth of i3’s Canadian business by way of operational excellence, capital deployment and strategic upsizing in core areas; Serenity appraisal drilling and, upon success, the booking of reserves and initiation of field development planning; and dividend distributions to shareholders of up to 30% of free cash flow.

Tirupati Graphite (TGR) announced that its audited results for the 12 months ended 31 March 2022, which were to be announced today, will now be announced later this month. The company shall also refrain from other announcements on updates until later part of this month. In the meantime, the company confirms that its operations and developments are progressing as per plans.

It will be interesting to see whether the latest news from Canadian Overseas Petroleum (COPL), an international oil and gas company positively impacts the share price – finally. It announced a material increase to its Proved and Proved plus Probable Oil and Gas Reserves and 1P and 2P Discounted Net Revenue Before Tax resulting from the acquisition of the assets of Cuda Energy LLC. The company said the updated reserves of the Company and the significant increase in COPL’s 2P NPV 10% to $492 million illustrate the benefit of the timing of the acquisition of the Cuda assets in a high oil price environment. COPL purchased these assets for $19.15 million with the incremental reserves acquired at a cost of $2.20 per barrel.

Greatland Gold (GGP), announced the execution of debt and equity agreements to secure up to total of A$340 million in new funding that is expected to enable Greatland to fully fund its 30 per cent share of Havieron into production. The company also said Australian corporate and mining leaders Mark Barnaba, Elizabeth Gaines and James ‘Jimmy’ Wilson have agreed to join the Board of Greatland.

Great Southern Copper (GSCU), the company focused on copper-gold exploration in Chile, announced that the first five holes of its scout diamond drilling programme at its San Lorenzo project have been successfully completed. The company said the scout drilling program at San Lorenzo has confirmed the occurrence of sulphide copper hosted in sheeted vein systems which validates its strategy to focus its efforts here.

Sareum (SAR), a clinical stage biotechnology company, noted the announcement from Bristol Myers Squibb that the FDA has approved Sotyktu™(deucravacitinib), a first-in-class, oral, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor, for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.

Perhaps rather long overdue, Riverfort (RGO) announced a new TR1 in the form of David Barry, in at 3.42%. Despite apparently brisk business at the finance house, and a chunky dividend payout, shares of RGO have been on the back foot of late.

Poolbeg Pharma (POLB), a clinical stage infectious disease pharmaceutical company, announced that the Company’s Chairman, Cathal Friel, will be attending the HC Wainwright Global Investment Conference, which is taking place from 12-14 September at the Lotte New York Palace Hotel in New York City, NY, USA.

Omega (ODX), the specialist medical diagnostics company, announced its audited results for the year ended 31 March 2022. The company said the actions taken this year to withdraw from the COVID-19 market, to dispose of the Alva site to reduce losses and, subsequent to the year end, to complete the disposal of the loss-making CD4 business, have left the Group in a much stronger position. It currently has approximately £2.5 million in the bank and fully expect to receive the £4.0 million CD4 deferred consideration later this year.

Perhaps not too surprisingly, UK Oil and Gas (UKOG) has taken advantage of recent share price strength. The company famous for the Gatwick Gusher, raised gross proceeds of £3.0 million by means of a placing at a price of 0.0875p.

Powerhouse Energy (PHE), the technology company which converts non-recyclable waste into low carbon energy, announced variations to existing agreements with Peel NRE Ltd. Under the terms of the Agreement, Powerhouse agreed to grant to Peel a warrant to subscribe for 371,510,069 new Ordinary Shares. The Peel Warrant is exercisable (in whole or in part) within 6 months of financial close of Protos and was subject to a long-stop date of 2 years from the date of the grant. Further to the variation, this date has been extended until 31 March 2023. The exercise price of the Peel Warrant is 2.75p per share. The Peel Warrant provides Peel with a conditional right to subscribe up to approximately £10.2 million for up to 10% of the Company at a 10% premium to the Issue Price.

Condor Gold (CNR) announce the results and details of a Feasibility Study, on the La India open pit. The 2022 FS supports a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold and a mine with an Internal Rate of Return of 23% and a post tax and post upfront capital cost net present value of $86.9 million using a discount rate of 5% and price of US$1,600/oz gold. The company said the 2022 FS brings the level of confidence for the Project to the industry standard of engineering design, sufficient to support +/- 15% capital and operating cost estimates.

Thor Explorations (THX) announced initial drilling results from both the newly discovered Sambara Prospect together with continued encouraging results from the Makosa gold deposit at its Douta Gold Project, Senegal. The Douta Gold Project currently encompasses the Makosa gold deposit which currently comprises an Inferred Resource of 730,000 ounces of gold as announced in its maiden Mineral Resource Estimate published on 18 November 2021.

Author @ZaksTradersCafe

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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