Traders Cafe with Zak Mir: ZPHR, KIST, BZT, GCAT, YOOM, ROQ, KAV, NGHT, COPL, SHG, CCZ, PALM, PHAR, EM.P, AFN & JOG

Zephyr Energy (ZPHR), the Rocky Mountain oil and gas company, said that it has entered into a binding agreement to acquire further non-operated working interests in currently producing and near-term production wells in the Williston Basin, North Dakota, USA in a deal worth $36m.

By Zak Mir 

Kistos (KIST), the low carbon intensity energy producer, announced that Borr Drilling’s Prospector-1 jack-up drilling rig has spudded the Q11-B appraisal well (Kistos 60%, Operator). As previously announced, the Q11-B appraisal well is anticipated to take a minimum of 6 weeks to drill and test.

Bezant (BZT), the copper-gold exploration and development company, confirmed that the Mines and Geosciences Bureau of the Department of Environment and Natural Resources of the Philippines government review of Crescent Mining Development Corporation’s renewal application for a second 25 year term in relation to Mineral Production Sharing Agreement No. 057-96-CAR is ongoing. The initial 25 year term of the MPSA expired on 11 November 2021 and in accordance with Executive Order No. 292 of the Administrative Code of 1987 shall not expire until the renewal application has been finally determined.

Caracal Gold (GCAT), the gold producer with operations in East Africa, announced the arrival of two drill rigs in-country ahead of the commencement of diamond drilling and reverse circulation drilling programmes. Drilling programmes at Kilimapesa are set to commence immediately, with pre-drilling work including preparation of drill pads already well-advanced.

Yooma Wellness (YOOM), the wellness platform, announced that ASDA is now stocking 17 of Vitality CBD’s products making it the most extensive CBD product range in the supermarket.

Roquefort Investments (ROQ), the medical biotechnology sector investor, said that it has conditionally raised £3 million before expenses. The Company has entered into a conditional share sale and purchase agreement with Provelmare Holding S.A. to which Roquefort has agreed to acquire Lyramid Pty Limited for an initial consideration of £1 million.

Kavango Resources (KAV), the exploration company focused on Botswana, announced the commencement of drilling of the company’s B1 Conductor Target with Hole KSZDD002. The B1 Conductor is a cross-formational, strongly conductive geophysical anomaly that has a conductance reading of 8,200 Siemens.

The bears may get a nasty hangover from Nightcap (NGHT), in the wake of the announcement that it has acquired Barrio Familia. As a result of the acquisition, Nightcap expects that the Group’s results for the 53 weeks ending 3 July 2022 will be significantly ahead of current market expectations.

Bears may also be wrongfooted by Canadian Overseas Petroleum (COPL), an international oil and gas company focused in Converse County, Wyoming, USA, as it announced an increased oil production at its operated Barron Flats Shannon Unit. Crude oil production from the Shannon Unit has increased by approximately 700 bbl./d, a 35% increase from the oil production reported in the company’s Press Release dated November 15, 2021.

Shanta Gold (SHG), the East Africa-focused gold producer, provided an exploration drilling update at the New Luika Gold Mine in South Western Tanzania, relating to drilling conducted in Q3 2021. The company said all of the these encouraging drilling intersections are outside existing mineral reserves and will be incorporated into the next update of the mine plan as Shanta Gold continues to extend the mine life at NLGM.

Castillo Copper (CCZ), a base metal explorer, provided an update on its Picasso Lithium Project following the visit of its geology team who mapped and collected samples from the high-density corridor. A circa 10km zone of pegmatite occurrences was confirmed in the north-eastern part of the tenure, which significantly exceeds government mapping. The observed pegmatites are potentially related to lithium mineralisation which enhances prospectivity of the tenure’s north-eastern quadrant. Due diligence for the Litchfield Lithium Project is progressing with the laboratory expected to return assays within 2-3 weeks

Panther Metals (PALM) a company focused on mineral exploration in Canada and Australia, announced the signing of a purchase option agreement over four multicell mining claims covering a total area of 7.7km2 to supplement the Obonga Project’s 235km2 of prospective greenstone belt coverage,160km north of Thunder Bay in the Province of Ontario, Canada.

Pharos Energy (PHAR), an independent oil and gas exploration and production company, revealed a return to drilling in its El Fayum Concession in Egypt, with the commencement of an interim three-well development programme. The company said that after a significant period of restricted activity in Egypt, it has recommenced development drilling operations in El Fayum. The three-well infill development drilling programme will help increase production ahead of the main multi-year and multi-well programme to be drilled following completion of the IPR transaction, at which time its initial costs will be carried by our new partner in the concession.

Eastinco Mining & Exploration (AQSE:EM.P), the African focused strategic metals exploration and mining company currently admitted to trading on the Aquis, announces a series of proposed transactions to transform it into a multi-jurisdiction and multi-commodity, critical metals resource company. This involves a proposed acquisition of battery metals focused explorer Aterian Resources Ltd. Aterian owns a portfolio of highly prospective Copper and Silver projects totalling 824 km2 in Morocco. AIM & TSX-V listed Altus Strategies (ALS) is to become a significant beneficiary shareholder on completion of the proposed acquisition.

There was a chunky new entry on the shareholder list of financial portal ADVFN (AFN), with Dan Horsky in at 9%. The company has been on the front foot fundamentally, especially since the start of the pandemic and in the wake of the crypto boom.

As well as board changes Jersey Oil & Gas (JOG), an independent upstream oil and gas company ‎ updated on its Greater Buchan Area farm-out process. The company remains actively engaged with multiple counterparties, with discussions focusing not only on its Preferred Development Concept but also around alternative concepts using existing third-party infrastructure. JOG has received expressions of interest from major infrastructure operators with respect to funding the proposed electrification of the GBA development and the potential regional collaboration opportunities that exist. JOG is also advancing regional electrification collaboration efforts with various industry parties in the Outer Moray Firth.

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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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