St Brides Partners Weekly Brief, Saturday 26th June 2021

Client News:

Tirupati Graphite plc (LSE: TGR) provided new information on activities at its speciality graphite downstream operations in India, where it is developing a suite of speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants, thermal management, and composites.
It has noted an increase in sales of trademarked expandable graphite products to several customers in Europe following their REACH certification. Additional land in Patalganga was secured by the Company, which kick starts the construction of a dedicated product development facility and ongoing construction of the first module of the 15,000 tpa downstream specialty graphite project to enhance the capacity by 2022. Furthermore, the Company is continuing engagement with lithium-ion battery and EV sector players in Europe and Asia and advancing plans to expand into North America for upcoming large-scale spherical graphite production.

Prospex Energy PLC (AIM: PXEN) announced final results for the year ended 31 December 2020.  Despite disruption caused by the pandemic, major progress has been made towards transforming Prospex into a European focused gas production&power generation business for the energy transition.  Specifically, the acquisition of a 49.9% interest in the El Romeral Integrated gas and power project in Spain adds three producing gas wells, an operational power plant and multiple low risk development opportunities to Prospex’s portfolio.  Environmental approval for the 17%-owned Selva gas field in Italy, puts the field on track to commence production in 2022, at which point Prospex’s financial profile will be transformed. Meanwhile, the divestment of a 50% interest in the Suceava gas asset in Romania enables focus to be centred on the flagship Italian and Spanish projects.

Emmerson Plc (AIM: EML) welcomed updates on the progress made at its world class Khemisset Potash Project in Morocco during the first six months of 2021.
This includes the Environmental approval process reaching completion with all technical work completed, submissions made, and public enquiry process completed successfully with full support from local stakeholders. Other updates consisted of the completed geological work to further improve understanding of the general structures, update various geological plans and maps and, that advance the Deep Well Injection plan. Emmerson has also confirmed initial power cost savings and secured a preferred supply option following numerous detailed discussions with several renewable energy providers in Morocco. Altogether, the planned workstreams are on course to meet the target of commencing early construction work by year end with ongoing strategic partner discussions and debt funding due diligence.

Oracle Power PLC (AIM: ORCP) announced its audited results for the year ended 31 December 2020.
In summary, the Chief Executive’s Report is positive that despite all challenges presented by the ongoing pandemic, Oracle successfully diversified its portfolio of projects, enhancing value for its shareholders by extending its commodity focus and mitigating single jurisdiction risk, through the acquisition of two gold projects in Western Australia in November. It was also confirmed that Oracle continued to make very good progress in 2020 in Pakistan, overcoming delays and numerous Covid related issues. Oracle’s projects are centred on the development of assets which provide a hedge against economic insecurity.
Additionally, Oracle has made further advancements at their Jundee East Gold Project in Western Australia, by securing an exploration crew that will be on the ground on or around 28 June 2021. A full tenement Geochemical soil sampling programme is planned to start late June 2021 following on from the positive maiden results of the geochemical soil sampling survey.

FastForward Innovations Ltd (AIM: FFWD) published a notice of an Extraordinary General Meeting to be held in Guernsey on Friday, 9th July 2021 to consider and, if thought fit, to pass a proposed Company name change to Seed Innovations Limited. The name change is to follow the Investor interest in the cannabinoid sector that is escalating with several new companies nearing listing or recently listed on a UK exchange which FastForward Innovations have an active interest in.
Moreover, the company is pleased to note an update about their portfolio company, Little Green Pharma Ltd, of the acquisition of a fully operational GACP cultivation and GMP licensed medicinal cannabis asset in Denmark with the capacity to produce in excess of 20 tonnes of biomass per annum. LGP acquired the facility for C$20 million, and is a strategic fit with LGP’s existing operations, immediately providing LGP with additional cultivation and manufacturing capacity and accelerating its planned capacity expansion by up to two years and is consistent with LGP’s EU expansion strategy.

Zinnwald Lithium plc (AIM: ZNWD) has secured full ownership of the advanced, high value Zinnwald Lithium Project in Germany after it acquired the remaining 50% of Deutsche Lithium GmbH that it does not already own for a total consideration of €8.8 million. Deutsche Lithium is developing the Zinnwald Lithium Project and the Acquisition gives the Company full operatorship as it looks to advance the Project towards production to support Europe’s fast-growing EV sector. The acquisition is in line with Zinnwald’s corporate objective to become a key supplier to the European lithium market.

CYBA Plc (AIM: CYBA)   announced the proposed acquisition of Narf Industries, an established provider of cutting-edge cyber security R&D to the US Government and large  corporates, for a total consideration of US$25.6 million. Narf operates within the Threat Intelligence Sector undertaking computer security research and developing and licensing software to detect threats to computer systems as well as providing Incident Response services.  In addition to the proposed acquisition of Narf, which is classified as a reverse takeover, CYBA also announced an extension to the exclusivity period in relation to the Company’s possible acquisition of Polyswarm up to 30 September 2021.

You may have missed:

Executive Chairman of Jangada Mines Plc (AIM: JAN) Brian McMaster spoke with Proactive London on the transition from explorer to producer and have a read of the company’s article as Company of the Week in Total Market Solutions.

CEO of Cora Gold (AIM: CORA) Bert Monro discussed the first drill results from the Zone A deposit at Sanankoro and the company’s future strategy with Share Talk.