Trader’s Cafe with Zak Mir: COPL, JLP, TERN, PDL, PAT, THR, RMM & BHL via Vox Markets

Something that many new investors to the stock market do not seem to fully appreciate is that the exercise of warrant is one of the better ways for companies to get cash into their coffers.

By Zak Mir 

This is especially the case as warrants are always going to be exercised after a chunky share price rise. We have just seen this at Canadian Overseas Petroleum (COPL) announced that some 800m shares will be admitted to the market, raising some £3m. This can presumably go straight to Wyoming and for the company to develop its giant killing Atomic Oil and Gas acquisition there.

It was interesting to see a very positive reaction to the latest MOU announcement from Jubilee Metals (JLP), rather more than in the wake of recent bumper results from the company. Jubilee revealed the execution of a binding Memorandum of Understanding with Mopani Copper Mines Plc, a subsidiary of ZCCM Investment Holdings in Zambia, for the implementation of additional copper and cobalt refining capacity through the recapitalisation of existing refining capacity placed under care and maintenance by Mopani. This additional refining capacity targets to increase Jubilee’s existing copper refining capacity by a further 17 000 tonnes of copper per annum.

Internet of Things investment company Tern (TERN) said that it has secured further funding for investee company Wyld Networks in which it holds a 60.7% stake. Tern rationale here is that in the wake of Wyld Networks’ strong recent performance it has put in place an accelerated operating plan and secured a loan of approximately £1 million with Formue Nord Fokus A/S. This financing will bring forward the recruitment of additional sales and development resources to assist with accelerating the commercialisation of Wyld Networks’ solutions in global markets.

There would appear to be something of a boom in listed companies involved in diamonds at the moment. The latest is Petra Diamonds (PDL) who have announced that the 342.92 carat Type IIa white diamond and an 18.30 carat Type IIb blue diamond, both recovered at the Cullinan Diamond Mine in South Africa, have been sold into a partnership with Stargems. Petra will receive an upfront payment of $10.0 million for the 342.92 carat stone and $3.5 million for the 18.30 carat stone, as well as retaining a 50% interest in the profit uplift of the polished proceeds of both diamonds, after costs.

Diversified gold exploration and development company with assets in West Africa and India, Panthera Resources (PAT) announced that it has entered into definitive agreements to restructure its ownership interests in Moydow Holdings and underlying assets. The Proposed Transaction will provide funding to the Labola Project of up to $18 million. Panthera said it continues to focus on both progressing its projects whilst also managing its own financial and risk exposure to those assets.

Thor Mining (THR) revealed copper and gold intercepts significantly above the Mineral Resource Estimate (MRE) cut-off grade, on completion of the initial diamond drilling program at the Alford East Copper-Gold Project, SA. The company said that the new geological model and drill targeting is paying off. The uplift in copper and especially gold grade, adjacent to what appears to be a controlling structure is beyond previous expectations, suggesting potential for an extended zone of higher-grade copper and gold along this structure.

Copper and gold producer Rambler Metals and Mining (RMM) provided an update to its on-going 2021 underground diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada. The company said its confidence in the resource it will be mining in the near term is growing, and associated geotechnical data being obtained by the drilling will help optimise the mining method while reducing operational risks. Drilling is proceeding ahead of plan, and it may be able to exceed the goal of drilling a total of 15,200 metres by the end of the year.

North America-focused lithium development group Bradda Head (BHL) announced twinned hole assay results at its 100% owned Burro Creek East Project, as well as the mobilisation of a replacement drilling rig. The company said the initial positive drilling results confirm its 2018 program at Burro Creek East, and has the potential to add further resources to previously reported numbers. The presence of lithium mineralisation in the Lower Clay Zone reinforces the geological model for the Burro Creek lithium deposit, with the assays expected no later than the end of October.

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Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.


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