Traders Cafe with Zak Mir: CYAN, MNRG, I3E, CGH, EEE, GGP, AST, VELA, BIRD & AET via Vox Markets

Although shares of narrowband radio frequency mesh networks group Cyanconnode (CYAN) has been getting the thumbs up from small cap investors for quite some time, the latest announcement from the group represents a decent validation as well. The company has won the 2021 Frost & Sullivan Global Smart Metering Technology Innovation Leadership Award. Frost & Sullivan was impressed with CyanConnode’s innovation in the smart meter industry and recognised that it has grown from a regional European pioneer into a global leader.

A la mode main market quoted natural resources investing Company seeking investments in precious and strategic metals, MetalNRG (MNRG) looks to be getting more a la mode in the sense that Edward Peter John Spencer & Sarah Louise Spencer have increased their holding in the stock as announced via a TR1, from 9.2% to 10%. This week the company said that it has made progress at its GoldRidge gold project in Arizona.

Independent oil and gas company with assets and operations in the UK and Canada, i3 Energy (I3E) delivered an operational update. The Marten Hills Clearwater wells 01-12-075-26W4 and 02-12-075- are now flowing sales volumes and aggregate average production, post clean-up from both wells for the period 23 August to 31 August was 238 bopd. At Wapiti production from the assets more than doubled and during the month of August averaged 471 boepd, considerably higher than the initial expectation of circa 300 boepd. At Wapiti Elmworth the oil-weighted wells are expected to initially increase i3’s production by approximately 175 boepd and are estimated to return the full investment in 1.3 years based on current commodity strip pricing.

AIM-quoted gold mining company Chaarat Gold (CGH) with an operating mine in Armenia, and assets in the Kyrgyz Republic, published its unaudited results for the six-month period ended 30 June 2021. Once again the company underlined that it may be a value play amongst its peers with revenue up 61% in H1 2021 ($48.1 million) compared to H1 2020 ($29.9 million). This reflected the positive impact of increased production including third-party ore (H1 2021: $11.1 million and H1 2020: nil) and strong commodity prices. There was also a sharp swing in positive adjusted Group EBITDA in H1 2021 of $10.4 million (H1 2020: $0.5 million). This reflected the significantly improved operating performance at Kapan and lower overhead costs. The company said that Kapan remains on track to deliver on its AuEq 57koz guidance including third-party ore production for the year2. It is also continuing to explore debt financing opportunities for Tulkubash project and expects to conclude them in H2 2021.

AIM-quoted resource exploration and development company, Empire Metals (EEE) revealed the commencement of a drill programme of 26 RC holes for a total of 2,140 metres at the Central Menzies Gold Project, targeting two prospects, both of which are along strike from the Yunndaga deposit, historically the largest gold mine in the Menzies field with over 270,000oz produced. The company said that further drilling targets are expected to be generated within the Project area once the geochemical soil sampling results are received.

Greatland Gold (GGP) offered a Havieron development and exploration update. The company said that drilling results continue to support potential for resource expansion with additional mineralisation identified below the Crescent Zone and in the Northern and Eastern Breccias. The pace of construction activities and surface infrastructure at Havieron is intended to expedite future mining operations, enabling early free cash flows to be re-invested into further development. It will be interesting to see whether this latest update is enough to allow Greatland shares to resume the significant bull run of last year after the recent dip towards 16p.

AIM quoted onshore energy and natural resources focussed company Ascent Resources (AST) reported its interim results for the six months ended 30 June 2021. Perhaps what traders are continuing to mull over is the company’s apparent lottery ticket with regard to arbitration proceedings against the Republic of Slovenia. Apart from this the company has gone woke with its focus on ESG Metals, which it sees as a new and burgeoning target sector for growth. The company said it continues to retain optionality to enter the Cuban Oil and Gas industry, once COVID 19 restrictions are lifted and possibly after the outcome of recent civil unrest is clarified.

Although most widely anticipated news on the stock market tends to be delayed, in the case of Vela Technologies (VELA), it would appear that its COVID-19 trial update has arrived a day early. The company said that following receipt of the final data from the ARCADIA Phase II clinical trial, SGSC will immediately start to undertake commercial discussions with potential licensees and/or fundraise for further clinical trials to investigate SGS002 in a larger study. Further analysis to determine the precise nature of the biological effects of the Asset that explain the observed clinical outcomes will also be conducted. The trial data showed a strong trend towards reduced mortality in patients receiving AZD1656.

Cloud native video editing platform, Blackbird (BIRD) announces that it is now being used by a total of 75 US TV stations for digital news production following TownNews’ latest deployment. This is the sixth expansion of Blackbird by TownNews since the partnership began in 2018.

Upstream oil and gas company, Afentera (AET), whose shares continue to trade under cash, said that at the Odewayne Licence a new Afentra team continue its technical assessment and outlook on block prospectivity in discussion with the operator. In terms of Business Development, an experienced team now in place and actively pursuing potential deals in Africa, primarily focused on operated and non-operated production assets.

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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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