St Brides Weekly News 17-06-2016

This week our clients have made some big board appointments, raised a lot of cash and completed some significant acquisitions, read all about it…

Client catch-up:

Europa Oil & Gas received formal approval from the Irish Minister of Energy to increase its interest in and gain operatorship of Frontier Exploration Licences 2/13 and 3/13, offshore Ireland. The Company now has a 100% interest in and is operator of seven licences in the Atlantic basins offshore Ireland which could hold up to 4 billion barrels of oil and 1.5 TCF of gas. CEO Hugh Mackay celebrated the news by buying £10,000 worth of shares on the open market.

Plexus Holdings successfully raised £6m to fund the Company’s global expansion activities including Asia, Russia and the Americas, alongside further development of its best in class wellhead technology already used by oil majors including Shell, BP, TOTAL and BG.

Stellar Diamonds successfully completed its trial diamond mining exercise at Baoulé in Guinea, ahead of schedule, through the processing of over 100,000 tonnes of kimberlite. A total of 929 stones greater than 1 carat have been yielded, including numerous high value gem and fancy coloured (yellow) diamonds and one notable 55 carat stone. The sales of these diamonds has generated in excess of US$1 million and the Company is now looking to establish a maiden 3 million carat resource. The Company also secured a loan of £465,000 this week to support continued development at Baoulé and its Tongo kimberlite project in Sierra Leone, where a mining licence application is progressing.

DekelOil has acquired an additional 5 per cent. interest in its profitable producing palm oil project, Ayenouan, from its joint venture partner, Biopalm Energy Limited following an additional placing to raise £1.6m. Together with the 30.5% acquired a few weeks ago, the Company’s total holding is now up to 86%. Cantor Fitzgerald upgraded its target price by up to 23.6p, which is 80% higher than the current share price of 13p post share consolidation.

Active Energy announced its final results for the year ended 31 December 2015 which demonstrated a transformational period with the establishment of a vertically-integrated structure across three divisions, AEG CoalSwitch, AEG WoodFibre and AEG Timberlands. Highlights include results from burn testing of the CoalSwitch fuel conducted by the University of Utah in March 2016 which exceeded all company expectations, a 40% increase in revenues and an update on Canada-focussed AEG Timberlands where operations are expected to begin later this year.

Keras Resources announced strong gold results from its Prince of Wales (PoW) concession, which is located in the Grants Patch lease area in Western Australia. The results underpin Keras’ plans to deliver high-grade product from PoW to the Paddington processing plant in the next 6 months under its agreement with Norton Gold Fields Ltd.

Falcon Acquisitions successfully raised £163k by way of a Subscription of 815,000 Ordinary Shares at a price of £0.20 pence per share. The Company will use the combined proceeds from its Subscription in April 2016 of £2 million and its initial fundraise on Admission to the LSE in January 2016 of £1.95 million (before costs) to support its acquisition strategy and pursue opportunities in the rapidly growing OTT market.

Secure Property Development and Investment’s FY 2015 results will show an 88% increase in total asset value to €126m and a 61% lift in revenues from its South Eastern European real estate portfolio. This step-up has been achieved thanks to three acquisitions made during the year in line with management’s strategy to diversify and broaden its geographic spread across South Eastern Europe, taking advantage of prime locations, strong covenants with blue chip tenants on long term rental contracts that can be secured at attractive high yields.

FinnAust Mining has appointed industry experts KeyPointE Pty Ltd and QuedTech Pty Ltd to complete the next phase of metallurgical test work at the Company’s Pituffik Titanium Project in Greenland where large and high-grade accumulations of low-impurity primary ilmenite have been identified. The focus is now on defining a maiden resource by the end of the year.

Highlands Natural Resources had a lot of news this week. Firstly it announced that it had agreed a Heads of Terms with Opera Investments Plc by which Opera will acquire all of the issued share capital of Highlands’ subsidiary, which owns the Helios Two helium and natural gas project in Montana, in return for a shareholding in Opera. It also lodged its Final Results which demonstrated the impressive progress it has made during the last 12 months, building a portfolio of prospective natural resource assets as low cost. Finally it announced that Diversion, from which Highlands acquired a 75% interest in DT Ultravert, sold its entire holding of 30 million warrants in Highlands to an institutional investor. Considering that Diversion does not have the cash resources to exercise the warrants this sale creates the potential to raise the Company £7.5m on controlled terms.

You may have missed…

Challenger Acquisitions CEO Mark Gustafson sits down with Zak Mir Technical Analyst at Zak’s Traders Café to discuss their Giant Observation Wheel operations, projects in the pipeline and how it can be a unique play in an investment portfolio. Watch full interview

Kenyan President Uhuru Kenyatta recently signed a new mining act that looks to significantly build Kenya’s nascent mining industry. This is part of a 20-year strategy that he hopes will firmly establish Kenya as a regional hub for mining. Kenyan Mining Cabinet Secretary, Dan Kazungu, has recently been interviewed on these changes and during his interview he references Goldplat’s Kilimapesa Gold Mine (just before the 5 minute mark). Hear the full interview

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