RNS Hotlist with Zak Mir: UOG, UFO, IQE, BEN, GGP, ARS, SEE, PPC, ORR, XTR, TM1, GAL, BLOE & AXL via Vox Markets

United Oil & Gas (UOG) the oil and gas company, announced that the request for a two-year extension for the Walton Morant Licence, Jamaica, has been granted by the Jamaican Cabinet.

By Zak Mir

Following completion of the approval process, the licence will run to 31 January 2024. An amendment to the Production Sharing Agreement will be submitted to the Ministry of Science, Energy and Technology for final signature in mid-December 2021.

Alien Metals (UFO), a minerals exploration and development company, said it has entered into a Binding Heads of Agreement with ASX listed Platina Resources Limited to conditionally acquire Platina’s 30% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project in the West Pilbara, Western Australia

IQE (IQE), the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, announces a trading update for the year ending 31 December 20. The company said that a significant foreign exchange headwind has been incurred in 2021 on a reported basis, caused by the relative strength of Sterling, versus the US Dollar in which the majority of IQE’s revenues are denominated. As a result of softening demand in Q4, IQE now expects full year reported revenues to be in the region of £152m. This is equivalent to circa £164m at constant currency, representing circa 8% reduction in revenues year-on-year.

Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, whose shares have flown since coming to market, today published pictures of the Group’s highwall miner in West Virginia. The single highwall miner and related highwall mining equipment has been supplied to the Group by Mega Highwall Mining LLC pursuant to the contract mining services agreement that has been entered into between MHW and the Group. The Group aims to move into production by the end of Q4 2021.

Greatland Gold (GGP), a mining development and exploration company, announced Director/PDMR Shareholding Disclosures. CEO Shaun Day has bought 375,000 shares at 14.5p, while CFO Christopher Toon has taken a 110,000 slug.

Asiamet Resources (ARS) announced further strong results from recent drilling completed as part of the Company’s 2021 Resource extension program at the BKZ deposit located on its KSK Contract of Work (KSK CoW) in Central Kalimantan, Indonesia. Drilling at BKZ continues to return high grade Zinc-Lead-Copper-Silver-Gold mineralisation, including 29m at 4.59g/t Au, 161g/t Ag. All holes completed in the current program have intersected significant mineralization and expanded the BKZ Mineral Resource envelope which remains open in several directions.

Seeing Machines (SEE), the advanced computer vision technology company, published its audited financial results for the year ended 30 June 2021. Revenue increased 18% to A$47.2m (2020: A$40.0m). The company said results for Q1 FY2022 revenue are ahead of budget, largely due to strong performance in Aftermarket signalling continued momentum for this industry sector.

President Energy PPC), an international energy company, whose shares have been rising sharply in recent sessions, announced the issue of a Corporate Bond by the Company’s Argentine subsidiary, President Petroleum S.A. President Petroleum S.A. has issued an oversubscribed US$8,950,000 Corporate Dollar Denominated Bond which has been successfully publicly placed with qualified investors in Argentina.

Oriole Resources (ORR), the AIM-quoted exploration company focussed on West Africa, provided an update on its Senala gold project in Senegal, where joint venture partner IAMGOLD Corporation has the option to spend up to US$8 million to earn a 70% interest (announcement dated 1 March 2018). As part of its Year 4 earn-in, IAMGOLD has recently completed a programme of 2,148 metres reverse circulation drilling at the northernmost Faré prospect. Four holes have also been completed for 401m at the Madina Bafé prospect, located c.40km to the south.

Xtract Resources (XTR) said that independent laboratory assays have been received for drill hole BRDD-21-012 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project. BRDD-21-012 has returned a wide copper intercept on the main western zone of the Racecourse porphyry, with a separate zone of gold mineralisation intercepted at depth. The company said that the hole drilled in the centre of the deposit over the crown has produced a very pleasing result. It has intersected significant lengths of mineralisation with good copper values. Again, a gold horizon has been intersected deeper in the hole that carries good gold values, and Xtract’s modelling is starting to define the extents of this stand-alone zone.

Technology Minerals (TM1), which is focused on creating a sustainable circular economy for battery metals, announced that Recyclus Group, a 49% Technology Minerals owned company, has signed a partnership agreement with Slicker Recycling Limited, one of the UK’s leading hazardous waste management and service delivery providers, with a view to further their visions of creating a circular economy for the UK battery market.

Galantas Gold Corporation (GAL) announce results for the second underground hole in its ongoing 4,000-metre drilling program at the Omagh Project in Northern Ireland. The company said the additional high-grade intercept in a parallel vein with continuity demonstrates the potential to discover additional high-grade mineralization at Omagh and expand the gold resources as the company advances its plans to commence mining early in the new year.

Block Energy (BLOE), the development and production company focused on Georgia, said that gas sales from well KRT-39, located in Block XI, have commenced. Since before Block Energy acquired Block XIB, the associated gas produced (currently 140,000 scf per day) from KRT-39 has been flared. Its monetisation will further reduce Block’s environmental footprint in Georgia and is part of the Company’s wider strategy to minimise carbon emissions.

Arrow Exploration (AXL), which has a portfolio of assets across key Colombian hydrocarbon basins, announced the filing of its unaudited Financial Statements and MD&A for the quarter-ended September 30, 2021. During Q3 2021 and subsequent to the quarter-end the company successfully executed on several initiatives to continue increasing its production and cash flow. Arrow’s Q3 2021 average corporate production was 575 boe/d, an increase of 244 boe/d compared to Q2 2021 average corporate production of 331 boe/d, or 74%. The planned tie-in of behind-pipe natural gas from the 3-26 Well located at West Pepper, Alberta, and production from the 3-26 Well to commence during the first half of December 2021. Arrow is continuing to progress various activities associated with the planned drilling of the next well on the Tapir Block in Colombia, being the RCE-2 well.

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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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