St Brides Partners Weekly Brief, Saturday 2nd October 2021

October is upon us once again, and what a week it has been for St Brides Partners, with many of our clients releasing Interim results and operation updates during the month of September it has in no doubt been one of the busiest times of the year.

With a brand-new office address and a few new fresh faces, St Brides has conducted yet another successful week of activity, with no less than thirty-four announcements released for our clients. We have certainly kept busy and are now optimistically looking forward to another productive PR filled month.

Client News: 

Trident Royalties plc (AIM: TRR) released their interim results for the period ended 30 June 2021, hghlighting the completion on 3 transactions, comprising a total of 8 royalties. Trident also welcomed Paul Smith to the board as Non-Executive Chairman and Peter Bacchus as a Non-Executive Director in the period.  TRR continues to review a compelling pipeline of assets spanning various geographies and mining commodities, prioritising paying or near paying royalty opportunities

Trident also released a royalty portfolio updates on the Lake Rebecca Gold Project and highlighted recent announcements made by Apollo Consolidated Ltd and their Diggers & Dealers Mining Forum Presentation that provides a detailed overview of the project status.

Oracle Power PLC (AIM:ORCP) reported an update regarding its Thar Block VI Project in the Sindh Province of Pakistan following the recent approval of the Indicative Generation Capacity Expansion Plan 2021-2030, prepared by the National Transmission Dispatch Company in Pakistan.

The objective of the IGCEP, which is an annual plan prepared by NTDC, is to deliver an indicative optimum route through which energy supply should be undertaken over the current decade.

Ferro-Alloy Resources Limited (LSE:FAR) posted its unaudited interim results for the six months ended 30 June 2021. Highlights included the strategic investment led by Vision Blue Resources Limited, with US$10.1m invested to date as well as the board being strengthened with the appointments of Sir Mick Davis, former Xstrata CEO, as Chairman and Peet Nienaber, former head of Xstrata Alloys, as a Non-Executive Director. Further highlights included improved financial results from existing vanadium processing operations and enhanced financial position to support new Balasausqandiq vanadium project.

Harvest Minerals ltd (LSE: HMI) has announced it has commenced construction of a solar power facility that will meet all the power requirements at its Arapua Fertiliser Project in Brazil. The solar power facility will supply 100% of Arapua’s power needs and is expected to be commissioned within five months. Operating expenditure (mining and processing) to be reduced by 8% because of reduction in energy costs

Alba Mineral Resources plc (AIM: ALBA) confirmed the admission to trading on AIM of GreenRoc Mining Plc following their divestment of its Greenlandic mining assets to GreenRoc. GreenRoc’s ordinary shares began trading on AIM on Tuesday under the TIDM GROC having raised gross funds of £5.12 million.  Alba is the majority shareholder of GreenRoc with a 54 per cent. stake.  

GreenRoc Mining Plc (AIM: GROC) was admitted to trading on AIM this week following the acquisition of all the Greenlandic mining assets of Alba being the Thule Black Sands Ilmenite Project, the Amitsoq Graphite Project, the Melville Bay Iron Project and the Inglefield Multi-Element Project. GreenRoc intends to progress exploration and development activities in respect of the Greenland Projects with the aim of securing a mining licence and commencing commercial production at one or more of the projects within the earliest practicable timescale.

Emmerson plc (LSE: EML) provided an operational update on the Khemisset Potash Project, highlighting the Environmental and Social Impact Assessment (ESIA) submission has progressed towards the final assessment stage and decline alignment drilling underway, to be followed by further deep drilling for a detailed mine design. Land acquisition programme advancing with relevant owners and stakeholders identified. The land acquisition process is being finalised with the Moroccan authorities. SOP feasibility study is ongoing, led by Barr Engineering.

Emmerson also released their interim results, stating; The period under review was shaped by both operational and corporate developments, including the completion of an AIM admission in April, providing Emmerson with a listing on the world’s most successful growth market.  Emmerson were also shown strong support from some significant new investors as well as a number of existing investors, through the raising of £5.5 million which ensures Emmerson are well positioned to deliver additional workstreams in the lead up to the commencement of construction at Khemisset.

Empire Metals ltd (AIM: EEE) released their interims results, which began with the commencement of a new drilling campaign at the Eclipse Gold Project, located 55km north-east of Kalgoorlie, in the Eastern Goldfields of Western Australia.  The objective of this drilling was to test extensions to the mineralisation at Eclipse both along strike and at depth, and also test known mineralised structures parallel to the main Eclipse vein, which historically yielded attractive intersections.  Successive drilling campaigns were conducted at Eclipse during the first four months of the year, which delivered encouraging results and supports the scaling of the project’s mineralised footprint.

Additionally, recent surface prospecting at Central Menzies uncovered a suite of gold nuggets totalling approximately 20 ounces in a pushed-up area approximately 40 to 60 centimetres below surface, providing further evidence of the prospectivity of the licence.
Stranger Holdings plc (LSE: STHP) has entered into a non-binding Memorandum of Understanding for the acquisition of certain African based resource assets.  Given the contemplated scale of the Acquisition, this will constitute a reverse takeover of Stranger and a further update shall be provided upon conclusion of the execution of a formal and binding Share Purchase Agreement.

Tirupati Graphite plc (AIM: TGR) released an acquisition update – as announced 17 August 2021, Tirupati has agreed to acquire the entire issued share capital of Suni Resources SA from Battery Minerals, which holds the construction initiated Montepuez Graphite Project and the advanced feasibility study stage Balama Central Graphite Project.
Battery Minerals’ shareholder approval paves the way for the requisite in-country approvals for the Acquisition to be obtained, principally from the Ministry of Mineral Resources and Energy in Mozambique.

Jangada Mines Plc (AIM : JAN) announced its unaudited interim results for the period ended 30 June 2021. Highlights included the continued progress developing its 100% owned Pitombeiras Ferrovanadium Project in Brazil having concluded current phase of drilling programme. The results also reported a total comprehensive profit of $605k (2020: loss of $925k) and news that the company are on track to issue a Definitive Feasibility Study in Q4 2021 and have been granted a trial mining license, which allows development of a pilot operation. 

Vast Resources plc (AIM: VAST) continues to evaluate the recommencement of production at Manaila and as part of this process, the company has been working with TOMRA to assess the suitability of X-Ray Sorting Technology  to optimise the mine’s production profile. The assessment demonstrated that by installing an XRT machine at the plant to pre concentrate ore at the pit, the technology would be highly effective. It is anticipated that processing and transportation costs could be reduced by up to 55%. This cost reduction could have a dramatic impact on the mine’s financial performance.

You may have missed 

Alba Minerals and GreenRoc Resouces featured in This is Money highlighting the latter’s AIM debut and Alba’s intended growth of its Welsh gold business, including the Clogau St David’s mine:

Newly listed Greenroc CEO, Kirk Adams, interviews on Sky News.

Ferro-Alloy Resources Group CEO, Nick Bridgen, talks with proactive UK.

Zak Mir talks to Nick Bridgen, CEO of Ferro-Alloy Resources, in the wake of the vanadium producer and developer’s interim results for the six months ended 30 June 2021.

Listen to Traders Cafe with Zak Mir interviewing Robbie McCrae, CEO Caracal Gold.

Kirk Adams, CEO of Greenroc interviews with Vox Market’s Zak Mir

In the news this week 

Green Party of England and Wales unveils new leadership team

Australian border to reopen for first time in pandemic

Mr Goxx, the crypto-trading hamster beating human investors

Dutch students go on 3,000km road trip in solar-powered camper van they built themselves

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