| Client News
Jubilee Metals Group Plc (AIM: JLP) announced their unaudited operational results for the six month period ended 30 June 2020. Despite the loss of the equivalent of around 2 months’ operational time due to Covid-19 regulations, Jubilee delivered their sixth consecutive six-monthly period of double digit growth with a 54% increase in combined operational earnings in H1 2020 to £12.8m from H2 2019. Jubilee also saw an 18% increase in combined H1 2020 revenue to £29.4m from H2 2019 which brings their cash position to £10.8m. All operations have successfully returned to 100% capacity whilst maintaining strict health and safety measures. Several key milestones have been achieved during the six month period to grow their PGM and chrome production footprint to then replicate this same success in Zambia with the roll-out of their Copper strategy; particularly the recent copper transaction, where the rights to approximately 150 million tonnes of copper containing surface material were secured to be refined at the Sable Refinery. Additionally, production of both copper cathode and cobalt concentrate at Sable has started successfully.
FastForward Innovations Ltd (AIM: FFWD) received an update from TSXV traded Globalive Technology Inc. on their investee company Yooma Corp., in which they hold a 10.65% interest. Yooma has signed a binding letter of intent with Globalive to complete a reverse takeover, to which Globalive will acquire all of the issued and outstanding securities in exchange for common shares in the company. The Yooma transaction remains subject to material conditions.
Dekel Agri-Vision Plc (AIM: DKL) announced that infrastructure equipment required for the construction of the large scale raw cashew nut processing project at Tiebissou in Cote d’Ivoire has been cleared by customs and delivered to the project site. Installation is due to begin shortly ahead of the construction of a 10,000tpa mill as part of the next phase in the development. The mill remains on course to be commissioned in Q2 2021 at which point Tiebissou will become Dekel’s second production project.
Kodal Minerals Plc (AIM: KOD) secured sufficient funding resources through a $1.5million unsecured convertible loan agreement with Riverfort Global Opportunities PCC and YA Il PN Ltd. These funds will allow for the continued development of the Bougouni Lithium Project, including licence payments for the Mining Licence and continued engineering development studies. As well as this, additional funds will be used to further develop gold projects including the Nagalasso project and Dabakala project, and exploring new investment opportunities in the gold space.
Emmerson Plc (AIM: EML) has raised £1.72 million through an oversubscribed placing, led by Shard Capital Partners LLP. These funds will be primarily used to support Emmerson’s rapid development of the Khemisset Project through the delivery of key work streams.
BlueRock Diamonds Plc (AIM: BRD) has conditionally raised gross proceeds of £1.235 million through an oversubscribed placing and subscription of 3,528,574 new ordinary shares of 5p each in the Company at a price of 35p per placing share. Additionally, three of BlueRock’s directors have indicated their intention to subscribe a further £5,000 each, meaning that the total gross amount raised is expected to be £1.25 million. The proceeds of the Placing will be used to strengthen their balance sheet and fast-track their growth plans, including enhancing the expansion plan to increase production volume by the end of the year, implement cost cutting and efficiency measures to optimise profitability.
Armadale Capital Plc (AIM: ACP) has posted an updated version of their corporate presentation on their website.
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