SP Angel Morning View:China's 2023 growth targets disappoint base metal traders

SP Angel Morning View: Gold and copper prices continue to rise as US inflation slows

Caledonia Mining* (CMCL LN) – Blanket mine delivers almost 20% production increase in 2022 First Quantum Minerals (FM CN) – Progress on Cobre Panama Griffin Mining Ltd (GFM LN) – Q4 Results and Full Year Production 2022

SP Angel Morning View: Canada orders Chinese companies to divest stakes in Canadian listed lithium businesses

Griffin Mining Ltd (GFM LN) - Caijiaying Mine to return to full production on Monday 7th November KEFI Gold and Copper* (KEFI LN) – The government announces a surprise truce with TPLF Power Metal Resources* (POW LN) – Increasing interest in Molopo farms Tembo Gold (TEM CN) – Tembo Project drilling results

SP Angel Morning View: Risk sentiment pulls back on Chinese leadership reshuffle and weak economic data

SP Angel Morning View: Lithium prices extend gains as supply concerns regain market focus

Alara Resources (AUQ AU) – Al Washi-hi Majaza mine construction progress Anglo Asian Mining* (AAZ LN ) – 50k share bought back in the market AngloGold (ANG SJ) – Agreement to acquire Nevada properties for $150m cash Aura Energy* (AURA LN) – CEO appointed Gemfields Group (GEM LN) – September auction yields $33m in sales Griffin Mining Ltd (GFM LN) – Production shutdown on cessation of explosives access in lead-up to CCP's 20th Party Congress Renascor Resources* (RNU AU) – Renascor executes

SP Angel Morning View: Nickel hits $28,500/t intraday on supply concerns

BlueRock Diamonds* (BRD LN) – Large stones lift BlueRock Diamonds auction to new high Griffin Mining (GFM LN) – Mining at Caijiaying scheduled to recommence 15th March Kinross Gold Corp (KGC US) – Kinross Gold suspends Russia operations over sanctions and legal concerns Power Metal Resources* (POW LN) – Full-year results demonstrate strong progress across suite of exploration projects Piedmont Lithium (PLL AU) / Sayona Mining (SYA AU) – Quebec lithium resource base doubles to 119mt @ 1.05% L

Hybridan Small Cap Feast 02/02/2022

Joiners: Hiro Metaverse Acquisitions I S.A. (HMA1.L), a special purpose acquisition company sponsored by Hiro Sponsor I LLP, an affiliate of Hiro Capital, a videogames and metaverse technology venture capital fund, has joined the London Stock Exchange. HMAI raising through the listing. Founded by Luke Alvarez, Sir Ian Livingstone CBE, and Cherry Freeman, three senior leaders with an established track record of entrepreneurship and investment in the video gaming, digital sports and technology sec

SP Angel Morning View: Lithium prices continue to rise as gigafactories fight for material

Griffin Mining (GFM LN) – Chinese New Year and winter Olympics cause Griffin's zinc mine to shutdown till 14 of March Keliber (private) – €7m grant from Business Finland for lithium plant Kore Potash (KP2 LN) – SP Angel appointed as Nomad and broker to Kore Potash Phoenix Copper* (PXC LN) – NED/CTO steps down URU Metals* (URU LN) – Interim results

Hybridan Small Cap Feast 05/11/2021

Joiners Marks Electrical (MRK.L), a fast growing online electrical retailer, announced has joined AIM. Marks Electrical sells, delivers, installs and recycles a wide range of household electrical products. In the year to 31 March 2021 revenue grew to £56m, up 78% against the previous financial year, while EBITDA increased to £7.45m, at a 13.3% EBITDA margin. The Group has made a strong start to its current financial year to 31 March 2022, with revenue growth of 78% in H1 FY2022, versus 47% growt

SP Angel Morning View: Expect China to slow into 2022 as Winter Olympics and Paralympics slow production

Griffin Mining (GFM LN) – Griffin to be allowed to receive deliveries of vital operating supplies to site till end-December Kavango Resources (KAV LN) – COO appointed PolyMet Mining (PLM US) – Q3 report shows company focused on continued legal defence of its permits Power Metal Resources* (POW LN) – Phase I test work completed at Athabasca Basin

Small Cap Feast

Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor

Small Cap Feast

Pineapple Power, a special purpose acquisition company to seek and acquire businesses in the clean energy sector, has Joined the Main Market (Standard) raising gross proceeds of £1,316,010 (PNPL.L) Vector Capital (VCAP.L) has joined AIM, a commercial lending Group that offers secured loans primarily to businesses located in the UK. Substantially all of the Group's loans are secured by a first legal charge against real estate. The Group's customers typically borrow for general working capit

SP Angel – Morning View

African Battery Metals* (ABM LN) – Cameroon Cobalt Nickel Project | Aura Energy (AURA LN) – Mauritania gold exploration licences | Bushveld Minerals (BMN LN) Target Price 87p – Eskom signs US$180m loan for renewable energy expansion | Griffin Mining (GFM LN) – Resource uplift at Caijiaying zinc mine’s Zone III in China | redT energy plc (RED LN) – Oxford ‘superhub’ | Strategic Minerals* (SML LN) – Fluffing up heaps at Leigh Creek copper project | Trans-Siberian Gold (TSG LN) – Rodnikova deposit,

AIM Breakfast

AKERS BIOSCIENCES INC (AKER US) | ASA RESOURCE GROUP PLC (ASA LN) | BLUR GROUP PLC (BLUR LN) | GRIFFIN MINING (GFM LN) | LIDCO GROUP (LID LN) | NORICUM GOLD LIMITED (NMG LN) | PREMIER TECHNICAL SERVICES GRP LTD (PTSG LN) | PROACTIS HLDGS (PHD LN) | VALIRX PLC (VAL LN)

LIBERUM: Sylvania Platinum* - 3p interim dividend & new policy

Pantheon Resources - Update to provide perspective on Pantheon Resources' recent developments

In light of Pantheon Resources' most recent operational developments we have provided some background to provide context to appreciate their progress. Where possible, we have sourced direct statements from industry leaders in Alaska in order to provide an unbiased view on certain aspects of Pantheon Resources' exploration and appraisal in that state (see page 2). We have also provided our own thoughts and commentary to provide context for interested parties to get their bearings. We retain our p

Updated Alkaid #2 test results

Jubilee Metals - H1 FY2023 results

Jubilee today provides its unaudited financial results for the half-year period ending December 2022. Group Revenue of £63.1m (H1 FY2022: £63m) with £58m from its chrome/PGM operations in South Africa and £5m from copper in Zambia. Headline EBITDA of £10.3m (£13.7m) with a closing cash position of £11.7m (£21.5m) after continuing its capital investment program of £24.1m (£28.4m). Production of PGM was down in the period at 18.2koz (20.3koz), but all was from its own facility at Inyoni so cap

Pantheon Resources (PANR) – Corporate – Alkaid#2 Update

Pantheon Resources announced that Alkaid #2 has produced at an IP30 rate of 505 b/d of liquids consisting of 180 b/d of oil and 325 b/d of condensate and NGLs along with 2,300 mcf/d of gas (after shrinkage). Post clean-out, flow rates were initially marginally higher than pre-clean-out rates. The company believes that despite the sand blockage, the final 1,000ft of the well was connected and already contributing to the main wellbore through fluid communication between the fractures.

Hybridan Small Cap Feast - 21 Feb 23

21 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

Reabold Resources - From little acorns…

Reabold is an E&P investment company focused on investing in pre-cash flow projects to unlock stranded value. Management is adept at identifying oil & gas assets where there is a clear near-term value creation opportunity. It is the driving force behind asset work programmes aimed at quickly de-risking projects, adding value and allowing monetisation. We initiate with a risked NAV based price target of 1.20p/sh, 6x the current share price. Key to unlocking this valuation is the first horizontal

LIBERUM: Atlantic Lithium* - DFS on-track for release in Q3 CY23

Hybridan Small Cap Feast - 06 Mar 23

6 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective

IOG (IOG LN) - Full year 2022 results

Numbers partly already released in January. IOG has released its full year 2022 results. In January the company announced gross average production from first gas in March to the end of 2022 of 27.4mmcf/d, end 2022 gross cash of £32.4m (including £5.7m restricted), 2022 revenue before sales deductions of £79.6m, cash OPEX of 13.9p/therm, and cash CAPEX of £61.2m.

Continuing operational success on Tapir

SHORE CAPITAL -Touchstone Exploration+ (TXP) - House Stock at 70p

More gold on the way at Havieron

PetroTal Corp (AIM: PTAL): Production back at 20 mbbl/d. Regular payments from Petroperu

• Production was constrained in January and February, with average production of ~7,600 bbl/d and 8,000 bbl/d respectively, due to restricted barging capacity over these two months. • The barging fleet schedules have now been re-established with an increased capacity of 1.5 mmbbl (1.2 mmbbl in 2022) and PetroTal’s production has been averaging 20 mbbl/d since the last week of February. • Given the constrained production rates over January and February, the company now expects 1Q23 production t

Arrow Exploration Corp. (AIM: AXL): Another good well result

• The RCE-4 well encountered 45 feet of net oil pay, including 25 feet in the Carbonera C7 and 20 feet in the Lower Gacheta. The well will initially be completed in the C7 zone, targeting to be on stream in late March. This will increase Arrow’s production and reserves. • The 25 feet encountered in the Carbonera C7 at RCE-4 compares with 19 feet in the same sand at RCE-3, 16 feet at RCE-2 and 38 feet at RCS-1 (C7A and C7B sands). • RCE-2 is currently producing ~ 500 bbl/d (net to Arrow), RCS-