This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator.
Reabold Resources (RBD), the oil & gas investing company, announced a new Corporate Presentation. The new presentation reflects the Company’s recent portfolio developments, including the acquisitions of the Central, Northern and Southern North Sea licences, and can be viewed via the following link: https://reabold.com/wp-content/uploads/2023/03/Reabold-Resources-Corporate-Presentation_March-2023.pdf Reabold co-CEOs Stephen Williams and Sachin Oza presented live at the Shares Spotlight Investor Evening on 14 March 2023. This can be viewed: https://www.sharesmagazine.co.uk/video/reabold-resources-rbd-sachin-oza-co-chief-executive-stephen-williams-co-chief-executive
Comment: Given that Reabold is currently in an intriguing period, considering the bizarrely low ball “highly preliminary approach” for the company at a 10% premium to its 0.18 pence closing price on Tuesday, it may be worth checking out these two links in order to assess the true value of the group.
Panther Metals (PALM) the company focused on mineral exploration in Canada, announced receipt of our Goods and Services Tax/Harmonized Sales Tax credit for the year ending 2022. The amount received totalled CAD$160,374.11 and covers the entire year of 2022. Goods and Services Tax (GST)/Harmonized Sales Tax (HST) is the Canadian direct equivalent of Value Added Tax (VAT) in the United Kingdom.
Comment: Panther seems to be the exception that proves the rule in terms of there being two certainties, death and taxes.
Abingdon Health (ABDX) and Senzo Health Limited announced the signing of a strategic partnership agreement. Under the terms of the partnership Abingdon Health will support Senzo by providing contract development and manufacturing services to Senzo and its partners to enable them to develop and manufacture new rapid tests utilising Senzo’s cutting-edge ALF platform. Senzo is an innovator in the rapid diagnostics testing market. ABDX said it was “really excited” to be working with Senzo and supporting them in leveraging their cutting-edge lateral flow platform technology across multiple applications. It believes this strategic partnership agreement provides Senzo Health and its customers with access to Abingdon’s best-in-class CDMO service to enable accelerated product development and time to market.
NFT Investments (AQSE: NFT), an investment firm specialising in the market for non-fungible tokens, update on its corporate strategy and cryptocurrency investments. The company has an unaudited net asset value of £36.3 million (3.61p per share) as at 20 March 2023, including £28.8 million (2.87p per share) in liquid crypto. The current share bid price is now 58% below the Company’s NAV. The company said its focus has always been on maximising shareholders return and it has become clear that a commitment to returning capital in the form of our growing liquid crypto portfolio (2.87p per share) is the best way to do so given our continued discount to NAV. It is delighted by its timing and the subsequent positioning of our crypto treasury which is now a majority invested in liquid crypto assets like BTC and ETH.
Comment: Although it is supposed to be the case that the market is always right, in the case of NFT, hamstrung with negative sentiment, and perhaps a complete lack of understanding, it would appear that the market has got the valuation of the company totally wrong. Hopefully, the prospect of the company returning cash to shareholders will underline the valuation disconnect. It is also interesting that the shares were up more than a third on Friday, ahead of today’s announcement, as clairvoyant investors seems to have taken over from the late Mystic Meg, regarding today’s news.
Quantum Exponential Group (AQSE: QBIT), a company focused on investing in quantum technology, notes recent press coverage and would like to clarify that, further to the announcement in last week’s Spring Budget about the UK Government’s commitment to quantum computing, the company are continuing to explore the possibility of establishing a private limited partnership investment fund which will target raising £100 million of capital for investment in quantum technologies.
Comment: Another company, along with NFT (NFT), which has been underappreciated by the market / shows how little UK investors understand tech. £100m is a chunky amount of change, and underlines the importance of the quantum space, and QBIT’s position within it.
Lift Global Ventures (AQSE:LFT) announced its half year results for the six-month period ended 31 December 2022. On 5 September 2022, it announced the acquisition of the entire issued share capital of Miriad Limited, which provides a “one stop shop” bespoke, personalised PR and IR service to small- and mid-cap entities in the UK. On 31 January 2023, LFT subscribed for £750,000 of unsecured CLNs in TAE, a UK private company focussing on the development, financing, construction and operation of energy infrastructure projects located primarily in Sub-Saharan Africa.
Asiamet Resources (ARS) advised that the workstream relating to the Capital Cost Estimate for the BKM Copper Project has recently concluded with exceptionally positive results. The company said an enormous amount of high-quality work has been completed to deliver this Capital Cost Estimate with the final outcome being only marginally above the 2019 pre-production capex. The widespread industry cost inflation seen across the global mining industry, especially in the latter half of 2022 required it to revisit every aspect of the project in considerable detail.
Great Southern Copper (GSCU), the company focused on copper-gold exploration in Chile, announced that the results from its scout drilling programme at the Cerro Chinchillon prospect area in San Lorenzo confirm the discovery of a large intrusive-related copper-gold mineralised system. The company said the assay results from the scout drilling programme at the Cerro Chinchillon prospect area are highly encouraging and demonstrate that GSC has discovered a large intrusive-related Cu-Au mineralised system.
Thor Explorations (THX) announce the results of an updated Mineral Resource Estimate prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Douta Gold Project in Senegal. The company said this is an excellent milestone in the progress of the Douta Project. The 2023 MRE has more than doubled the contained gold within the Douta permit to over 1.7 million ounces, with the indicated component of the resource alone exceeding 870,000 ounces of gold compared to the maiden inferred resource of 730,000 ounces. In addition, there are a further 909,000 ounces of inferred resources within the optimised pit shells that it intends to convert to indicated classification with additional infill drilling which forms part of its ongoing 40,000 metre program.
Comment: The latest news more than meets the latest share price turnaround in terms of being well timed. It looks as though THX will start getting placed in watch lists and portfolios during the rest of 2023.
Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, provided an update on operations on the State 36-2 LNW-CC well at the Company’s flagship project in the Paradox Basin, Utah, U.S. The company said that it was pleased to announce its continued progress on the State 36-2 well, especially in light of the challenging weather conditions. It looks forward to the results of the production test, which it expects will provide critical information to help it determine the optimal development programme for the Paradox project.
Pantheon Resources (PANR), the AIM-quoted oil and gas company, confirms that following the Company’s AGM, a shareholder presentation/webinar will be held at 5.30pm GMT today on the following link: https://www.bigmarker.com/share-talk/Pantheon-Resources-AGM-Shareholder-Presentation-and-Q-A-March-2023
Comment: It will be interesting to find out whether PANR can shake off / squeeze out some of the rather malicious bears it has acquired of late in today’s presentation.
Andrada Mining (ATM), an African technology metals mining company, provided an unaudited production update for the Uis Mine for its fourth quarter and full financial year ended 28 February 2023. The company said the exceptional fourth quarter production performance is a demonstration of the execution capability of Andrada’s management team. It has made excellent progress in realising the significant economies of scale inherent in this uniquely large ore body. It believes these economies of scale and the bringing online of lithium production, will rapidly enhance the value of this outstanding asset over the coming months.
Comment: ATM shares being at near two year lows off the back of the latest RNS suggests that the market is out of sync with events at the company.
Corcel (CRCL), the extractive industries exploration and development company, announced its unaudited half-yearly results for the six months ended 31 December 2022. CRCL said it is now positioned with near term, and potentially transformational, newsflow from both Mt Weld and advantaged potential oil and gas acquisitions.
Atlantic Lithium (ALL), the African-focussed lithium exploration and development company, announce the commencement of auger drilling at the Ewoyaa Lithium Project. The company said the objectives of these significant 2023 exploration and resource drilling programmes are to test for concealed pegmatites within the immediate Resource footprint, improve Resource confidence, add potential tonnes to the current MRE and expand the regional exploration pipeline of targets.
Jubilee Metals Group (JLP), a diversified metals processing group, with operations in Africa, published its condensed unaudited Half-Yearly Financial Report for the six-month period ended 31 December 2022. The company said its South African operations delivered a strong performance, with a 20% increase in PGM oz versus H1 FY2022 from own operations while chrome operations exceeded guidance, despite the impact of initial power interruptions. Costs remained tightly under control, with PGM unit cost remaining close to $600 per ounce. This positions its PGM operations at the bottom quartile of the industry’s cost curve which is of key importance during current volatile markets.
Comment: It is difficult not to believe that JLP over egged the impact of power interruptions. However, now that they have been addressed it could very well be the case that the recovery from this news is all the stronger.
Oracle Power (ORCP), a developer of green hydrogen production, confirmed the award of the recently acquired land lease as it has now been registered in the Government of Sindh’s land registry. This completes the acquisition of the lease by Oracle Energy of the land package of 7,000 acres (approximately 28.3 km²). The land coordinates provided in the lease delineate the land parcel on which Oracle Energy’s planned flagship Green Hydrogen Project will be located.
Comment: It would appear that it is “Thunderbirds are go!” for Oracle’s flagship Green Hydrogen Project, and in surprisingly quick time as far as the land package registration.
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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