St Brides Partners Weekly Brief, Saturday 20th November 2021

Inflation is expected to rise by 4% by the end of the year the Bank of England has warned, prompting many shoppers to start their Christmas shopping early to avoid an increase in prices. This is good news for bricks and mortar stores that are seeing a surge in footfall as online spending falls to pre-pandemic levels.

The FTSE is down 0.68% this morning on the news that the potential acquisition of Metro bank by the American Private equity firm Carlyle has fallen through, with Metro Bank itself dropping 16%. The pound is also on course to record significant gains over the next few years with the prospect of higher interest rates and an increase in demand from China, which is hopefully good timing as the world opens up making business trips and holidays cheaper.

Client News:

PYX Resources Limited (LSE:PYX, NYX:PYX) dual listed on the London Stock Exchange on Monday with a market cap of c. £350m as part of its strategy to build its position as a leader in the global zirconium market. Their CEO, Oliver Hasler said, “Our Dual Listing on the London Stock Exchange today marks a very exciting milestone for PYX, in both our development as well as our future plans as we focus on building a position as a key supplier of premium zircon to support world demand, which remains significant due to constrained supply and increasing applications for its use. The Dual Listing will give investors, existing shareholders, and the public a global access to participate in the growth and future potential of PYX Resources. We look forward to proactively engaging with the London market.”

Contango Holdings Plc (LSE: CGO) raised £2,500,000 through a placing of shares. The placing will provide Contango with sufficient funds to support fast tracking the Lubu Coking Coal Project’s transition into production towards the end of Q1 2022, marking the Company’s transition into cashflow and profitability from operations. Additional funds will also be directed to advance the Garalo-Ntiela Gold Project in Mali.

Firering Strategic Minerals plc (AIM:FRG) announced the appointments and arrival on site of experienced contractors to support a comprehensive exploration programme at the Atex Lithium-Tantalum Project in the Côte d’Ivoire. This exploration programme at Atex, which the Board believes has the potential to become Africa’s next significant lithium pegmatite and coltan resource, is fully funded from the proceeds of the recent IPO. Read more about the appointments here: https://bit.ly/30KX4R9 .

Caracal Gold plc (AIM:GCAT) announced that its Prospecting Licence PL/2018/0189 which surrounds the company’s Mining Licence and current gold production facilities at the Kilimapesa Gold Mining and Processing Operations in Kenya, has been renewed for a further three years by Kenya’s Ministry of Petroleum and Mining.

Stranger Holdings plc signed a non-binding Heads of Terms to acquire a company with a near term uranium project located in South Africa.

Trident Royalties Plc (AIM:TRR, FSX:5KV) noted the recent announcement by Lithium Americas Corp. regarding positive progress at the Thacker Pass Lithium Project in Nevada, USA. Trident holds a 60% interest in a gross revenue royalty over the entirety of the Project. CEO Adam Davidson commented: “The increase in project scale is significant for Trident’s royalty which, at current LCE spot prices and following an expected US$13.2 million partial buy-back payment to Trident, would see the royalty pay +US$11 million per year on the Phase 1 production profile and +US$23 million per year on the Phase 2 production profile.”

Cora Gold Limited (LSE: CORA) announced an updated Mineral Resource Estimate prepared by CSA Global Ltd in accordance with The JORC Code for its flagship Sanankoro Gold Project in Southern Mali. The results returned are highly encouraging ahead of a planned definitive feasibility study scheduled for H1 2022, with an MRE of 21.9 million tonnes at 1.15 grams per tonne gold for a total of 809.3 thousand ounces of Au, representing a +200% increase from its maiden MRE in 2019. The updated MRE follows the recently completed ~43,000m drilling campaign at Sanankoro which focussed on Mineral Resource growth and upgrading existing Mineral Resources to higher confidence categories.

You may have missed.

CEO of Cora Gold, Bert Monro, interviews on Zak Mir’s Traders Café discussing the latest news on the updated MRE.
PYX Resources debuts on the LSE, watch chairman and CEO Oliver Hasler joined Proactive’s Stephen Gunnion with details of the company’s secondary listing on the London Stock Exchange.
Watch Emmerson’s (AIM: EML) presentation at London South East’s webinar, featuring CEO Graham Clarke and Charles Vaughan.

In the news this week.

How the Rolex Submariner remains relevant after nearly 70 years
Sea horses and sharks have been found in the river Thames
KIA’s Electric SUV is unveiled futuristic designs that include a 27inch display


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