Energy and natural resources company, Ascent Resources (AST) updated on gas prices at its Petisovci gas project in Slovenia.
By Zak Mir
The company said it notes recent significant increases in global gas prices – an 905% increase from the EUR 11.4 / MWh price as set out in the Company’s 10 September 2020 announcement. The company now expects, at current gas prices and production levels, the PG-10 and PG-11A production wells to generate net production revenues of at least Euro 100,000 per month, net to Ascent.
It was a case of 0-60mph in a heartbeat in terms of fund manager Premier Miton hitting the i3 Energy (I3E) shareholder register with a 13% stake, something all the more impressive given that i3 Energy is currently a £145m company.
Wood products group Woodbois (WBI) looks to be at a fundamental inflection point. Q3 2021 revenues of $4.5 million vs $3.2 million for Q3 2020, an increase of 41%, while there were revenues of $12.7 million for first 9 months of 2021 vs $11.8 million for same period in 2020, up 8%. The company said, “As operational cash-flow turns positive, the logical next-step is to evaluate the multiple incremental opportunities that exist within our fragmented marketplace.”
Braveheart Investment Group (BRH) said that it has purchased an aggregate of 3,650,000 ordinary shares in Autins Group (AUTG), increasing its holding to 11.995% shareholding in Autins. Braveheart said it considers this investment to be a strategic investment in the acoustic, filtration and thermal management solutions group.
After last week’s sell off, there was the announcement of a decent slug of director buying at Polarean (POLX). Here three directors stepped up to the plate, buying in the region of 150,000 shares, versus a share price either side of 50p. Shares of POLX were trading at 100p plus before the rug was pulled by the FDA.
Cybersecurity solutions group Brandshield Systems (BRSD) said that it has secured new business mandates to support three independent crypto-currency, foreign exchange and online trading brands. This will see the company deploy its solutions to detect and shut down the following to ultimately prevent online fraud: fraudulent websites duplicating the Clients’ existing websites; websites which imitate the Clients by using similar domain names or logos; and unauthorised mobile apps or fake social media pages.
Oracle Power (ORCP) has pivoted towards the Green space, as the international natural resources project developer, announced that it has signed a non-exclusive co-operation agreement with PowerChina International Group Ltd, to jointly develop a green hydrogen production facility in Pakistan. The two entities are targeting a 400MW capacity hydrogen plant, with planned hydrogen production of approximately 150,000 kg per day.
African tech-metals mining company AfriTin (ATM) provided a further update on its down dip extensional drilling programme designed to elucidate mineralisation of the V1/V2 pegmatite at depth. Drill results for the final five drill holes that intersected the V1/V2 pegmatite demonstrated continuity of mineralisation at depth, with the highest combined metal content intersection from drill hole V1V2022, containing 0.17% Sn, 61ppm Ta and 1.33% Li(2) O, over a 51m intersection at a depth of 201m to 252m.
Thor Mining (THR) began a maiden drilling program at the Company’s 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia. The company said that after a series of systematic stream and soil programs it commenced its maiden RC drilling program at the Sterling Prospect, Ragged Range. “These are robust geochemical targets in the central portion of the Sterling Prospect, within the highly prospective 13km structurally controlled gold anomalous corridor, associated with the mafic -ultramafic contact within the Kelly Greenstone Belt.” Drill results are expected from early November 2021.
Alba Mineral Resources (ALBA) updated on its ongoing work activities at the Clogau-St David’s Gold Mine in North Wales, as well as the permitting process in relation to the proposed dewatering of the Llechfraith Shaft. There was additional potential for gold mineralisation at and around Clogau revealed by multi-element Prospectivity Modelling of Alba’s 2019 Soil Sampling Programme. Six high-confidence targets refined from the 10 targets previously defined by the SSP for follow-up investigation: a 1.8 km long structure to the east of the Brintirion Fault and a 2 km long target in the NE of the project area, previously tested by trenching in late 2020. A High-resolution UAV-Aeromagnetic Geophysical survey is being commissioned to pinpoint the bedrock sources of geochemical anomalies.
Cadence Minerals (CDNC) said that it has received confirmation from the secured bank creditors that they have obtained approval from their credit committees with respect to the proposed terms of the settlement agreement. The bank credit committee approval for secured bank creditors paves the way for Cadence to vest initial 20% in the Amapa Iron Ore Project. On the effective date of the settlement agreement Cadence’s and Indo Sino’s joint venture company will own 99.9% of the Amapa Project.
Kodal Minerals (KOD) which is focused on the Bougouni Lithium Project in Southern Mali and its gold assets in West Africa, announced high grade gold mineralisation returned from re-split sampling for the reverse circulation drilling at the Nielle Project located in northern Cote d’Ivoire. These latest results follow on from the previous announcement of the initial composite sample assay results for the completed RC drilling at the Nielle Concession earlier this year. The highlight here was re-split sampling completed to confirm characteristics of gold mineralised zones returns grades up to 38.5g/t gold.
AIM-quoted oil and gas exploration company, Baron Oil (BOIL) revealed the completion of the increase in its interest in United Kingdom Offshore Licence P2478 from 15% to 32% following formal consent given by the United Kingdom Oil & Gas Authority. Work on the outstanding Phase A technical work commitments is ongoing with the key component, that of 3D seismic reprocessing, expected to be delivered during the first half of 2022. The Board believes that this will provide the partners sufficient time to mature the Dunrobin Prospect and to engage with potential drilling partners in due course. Baron has the role of technical overseer in relation to the Licence’s remaining Phase A work commitments.
Market newbie GreenRoc Mining (GROC), focused on the development of mining projects in Greenland, reported on the recently completed management site visit by two of its directors to the Amitsoq Graphite Project in Southern Greenland, one of the highest-grade graphite projects globally. Drill pad locations were confirmed for the next drilling campaign following completion of maiden drilling programme in August 2021 which confirmed the existence of two significant and laterally continuous graphite horizons.
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