While its life on the stock market to date has been rather quiet, it could very well be the case that the latest news from URA Holdings (URAH), the Main Market listed exploration company with assets in both the Republic of South Africa and Zambia, may move the dial.

Author @ZaksTradersCafe

The company announced an independent maiden JORC (2012) Mineral Resource estimate for its 74% owned Gravelotte Emerald Mine of 29 million carats of contained emerald. There were 12 Additional JORC (2012) Exploration Targets totalling between 168 million carats and 344 million carats. The JORC resource is substantially larger than indicated at the time of purchase.

OKYO Pharma (OKYO), a bio-pharmaceutical company, announced that it filed an Investigational New Drug (IND) application with the FDA for the development of OK-101 to treat dry eye disease. Both nonclinical and clinical development plans on OK-101 were reviewed with the FDA in an earlier Pre-IND meeting facilitated by OKYO’s contract research organization, Ora Inc.

Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, announced that drilling operations have commenced on the State 36-2 LNW-CC well at its flagship project in the Paradox Basin, Utah, in the United States of America. Over the last week, CWC Ironhand Drilling Rig 118 mobilised to the well-site, where it was subsequently assembled and tested.

Upland Resources (UPL), announced a monthly progress update on the SK334 Joint Technical Study activity in Sarawak, Malaysia. The company said Block SK334 in Sarawak offers a transformational potential and it is looking forward to updating shareholders on SK 334 regularly. It also recognized the potential emerging from the UK North Sea P2478 Dunrobin Prospect and is working closely with the joint venture partners to realise value there as technical studies complete.

Cora Gold (CORA), the West African focused gold company, announced Optimised Project Economics following the announcement of Maiden Reserves and completion of a Definitive Feasibility Study for its flagship Sanankoro Gold Project in southern Mali. The company said the Optimised Project Economics, worked on concurrently with the completion of the DFS, have delivered a project with 52% IRR, 1.2 year payback and with $234m of free cash flows being generated over the Reserve mine life.

Bradda Head Lithium (BHL), the North America-focused lithium development company, announced results from an initial 3km2 soil sampling programme, identifying a potential >3km lithium-bearing trend and highly-prospective follow-up drill targets at its 23km2 San Domingo pegmatite district in Arizona. The company said the results from a soil sampling programme covering c.11% of Bradda’s San Domingo pegmatite claims in Arizona have identified highly-prospective follow-up lithium targets over a 3km+ strike.

In what could be described as a company boldly going where few are at the moment, AT85 Global Mid-Market Infrastructure Income plc, a UK investment trust targeting infrastructure, is proposing to undertake an IPO for a target initial issue of 300 million shares at 100p.

Beowulf (BEM), the mineral exploration and development company, announce that follow-up drilling, Phase 2, has started into the recently discovered polymetallic targets at, and surrounding, Majdan Peak, part of the Mitrovica licence in Kosovo. Drilling will include a short campaign of five diamond holes, followed by another round of drilling in Spring 2023. A total drill programme of up to 3,500 metres is estimated.

Horizonte Minerals (HZM), announced that it has entered into long-term power purchase agreements for its 100%-owned Araguaia Nickel Project in Brazil, where construction is underway and production remains on track to commence in Q1-2024. The PPAs have been awarded to a subsidiary of a global AAA rated energy company and Casa dos Ventos Comercializadora de Energia S.A.

KEFI (KEFI), the gold exploration and development company, announced that the updated $320 million Tulu Kapi Gold Project costings and finance plan has now been agreed by all the Tulu Kapi syndicate lead contractors, investors and lenders. It is currently being processed for final reviews and entry into definitive documentation to be signed as soon as possible, with the expectation to achieve this next month.

Tower Resources (TRP.L), the Africa-focused energy company, provided an update on its financing activity in respect of its Thali Production Sharing Contract, in the Rio Del Rey sedimentary basin offshore Cameroon. The company said that its subsidiary, Tower Resources Cameroon S.A, has been notified by BGFI Bank Group, that the medium term loan of approximately $7 million for which TRCSA and BGFI agreed a term sheet at the end of June 2022, has been approved by the credit committee of the Cameroon bank.

genedrive (GDR), the near patient molecular diagnostics company, announced its audited Final Results for the year ended 30 June 2022. Revenue for the year to 30 June 2022 of £0.05m (2021: £0.69m). The loss for the year of £4.7m (2021: loss of £0.7m)

Zinc Media Group (ZIN), the television, brand and audio production group, announced a trading update alongside details of recent commissions for the current financial year ending 31 December 2022. The company said that revenue booked and anticipated is to deliver in FY22 at £28m (FY2021: £17.5m), ahead of market expectations. EBITDA performance is in line with current guidance with the Group expecting to be profitable in H2 2022.

Ncondezi Energy (NCCL) provided an update on its solar photovoltaic and Battery Energy Storage System project in Tete, Mozambique. The company said the Solar Project valuation forecasts update for 100MW phases up to 300MW following inputs from 300MW solar PV plus BESS feasibility study.

Emmerson (EML), the Moroccan-focused potash development company, announced the signing of non-binding MOU’s relating to the offtake of potash and salt to be produced at its Khemisset Mine in Morocco. With Keytrade AG for the sale of a minimum of 245,000 metric tonnes per year of Muriate of Potash for a period of 10 years; and with Hexagon Group AG for the sale of a minimum of 245,000 metric tonnes per year of MOP and a minimum of 500,000 metric tonnes per year of salt product, both for a period of 10 years.

ENGAGE XR (EXR), a metaverse technology company, has signed a commercial reseller agreement with Lenovo™. The Agreement covers the resale and distribution of end user licenses by Lenovo for the Group’s proprietary software platform, ENGAGE and for metaverse production services targeted at Lenovo’s enterprise clients.

Synergia Energy (SYN) updated with respect to its Cambay India operations. The company said the C-77H well continues to produce on a consistent plateau with gas rates between 255 and 275 MCFD. Gas production is being sold at the Government of India regulated price of $8.57/MCF. In addition to the C-77H gas condensate, oil production from the C-19z, C-20, C-63 and C-72 wells has re-commenced. Currently an aggregate of c. 50 bopd is being produced.

Endeavour Mining (EDV) announced that a major discovery has been made at its 100%-owned Tanda-Iguela greenfield exploration property in Côte d’Ivoire. The company said Tanda-Iguela property has the potential to be another flagship asset for Endeavour, given the size of the maiden resource and its significant exploration potential as 10 additional nearby targets have been identified.

Author @ZaksTradersCafe

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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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