SP Angel Morning View: Copper rises to $9,450/t as traders buy up supplies ahead of China reopening

Anglo Asian Mining* (AAZ LN) - BUY – Underground development now underway at new Gilar copper, gold, zinc mine Jubilee Metals Group (JLP LN) – Warrant exercise raises £2m Rambler Metals and Mining* (RMM LN) - suspended – Improved mining operations deliver an increase of over 70% in 2022 saleable copper production despite working capital constraints. Savannah Resources* (SAV LN) – BUY, Target 17.9p – Positive community engagement ahead of EIA submission Shanta Gold (SHG LN) – 2022 gold prod

SP Angel Morning View: Copper and gold prices show strong start to year as traders await renewed Chinese buying

Anglo Asian Mining* (AAZ LN) - BUY – Anglo Asian to transition to mid-tier copper producer as Q4 and full year production at top end of forecast range Bluejay Mining* (JAY LN) – Enonkoski joint venture starts new drill program in Finland Culpeo Minerals* (CPO AU) – Phase-2 drill programme continues to yield positive results Petra Diamonds (PDL LN) – Reduced production guidance as operating improvements provide greater stability Power Metal Resources* (POW LN) – £900k equity raise Tertiar

SP Angel Morning View: Copper prices power through to $9,084/t as economists look for renewed China growth

Atlantic Lithium* (ALL LN) – Final assay results received ahead of expected MRE upgrade Arkle Resources* (ARK LN) – Identification of Lithium-bearing pegmatites in Mine River Block, Ireland BeMetals* (BMET CN) – Latest drilling results from the Kato gold project, Japan continue to extend the mineralised footprint Beowulf Mining* (BEM LN) – £250k investment in Vadar Minerals Empire Metals* (EEE LN) – Exploration underway at Pitfield and Eclipse-Gindalbie Project First Quantum Minerals (FM C

Hybridan Small Cap Feast 25/11/22

Dish of the day Joiners: No joiners today. Leavers: Euromoney Institutional Investor has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Conviction Life Sciences, a newly established closed-ended investment company managed by Plain English Finance Limited, is seeking to list on Premium Segment of the Main Market of the London Stock Exchange, to invest in a conviction portfolio of life sciences and medical technology businesses, primarily in the UK, Europe and Au

SP Angel Morning View: PBOC cuts RRR to support the economy as local Covid cases continue to rise

ITM Power (ITM LN) - New CEO appointed Tertiary Minerals* (TYM LN) - Update on Zambian copper project progression and identification of priority exploration targets

SP Angel Morning View: Gold flatlines as traders weigh options before key US CPI data and midterm elections

Amur Minerals* (AMC LN) – Update on AO Kun-Manie transaction with Bering Metals Cornish Metals* (CUSN LN) – Progress report from South Crofty GreenRoc Mining (GROC LN) – Testwork with ProGraphite highlights potential for future spheronisation of Amitsoq graphite material Petra Diamonds (PDL LN) – Mine tailings escape at the Williamson mine Tesoro Gold (TSO AU) – Drill assays indicate high grade extension at Ternera Tertiary Minerals* (TYM LN) – Soil sampling reveals definition of copper so

SP Angel Morning View: Copper prices pause strong run as China officials double down on zero-Covid strategy

AfriTin Mining (ATM LN) – Completion of Phase 1 commissioning at the Uis mine Arafura Rare Earths Ltd (ARU AU) - Arafura signs rare earth supply deal with Hyundai and Kia as automakers look to diversify EV supply chain Arc Minerals* (ARCM LN) – Arc extends exclusivity agreement for Anglo American Beowulf Mining* (BEM LN) – Non-Executive Chairman appointed Caledonia Mining* (CMCL LN) – New Maligreen mineral resource Castillo Copper (CCZ LN) – Quarterly report focusses on the cobalt potential

Hybridan Small Cap Feast 01/11/22

Dish of the day Joiners: Burning Rock Biotech Limited ADS has joined the Main Market (Standard). Leavers: China Petroleum & Chemical Corporation ADS has left the Main Market (Standard). What’s cooking in the IPO kitchen?** Ithaca Energy, a UK independent exploration and production company focused on the UK North Sea, intends to join the Premium Segment of the Main Market. Ithaca Energy is one of the largest independent oil and gas companies in the UKCS, ranking 2nd by resources and 3rd by produc

SP Angel Morning View: Commodities pull back as BOE driven relief rally fizzles away

Arc Minerals* (ARCM LN) – First half results underpinned by Anglo American JV Arkle Resources* (ARK LN) – Interims highlight strong progress on Irish zinc licenses Aston Bay Holdings (BAY CN) – Assay results from Storm Project drilling Cornish Metals* (CUSN LN) – Interim results confirm that South Crofty mine de-watering expected to start next year Kodal Minerals* (KOD LN) – Bougouni DMS scenario delivers faster to production and reduced development capex project Oriole Resources (ORR LN) –

SP Angel Morning View: Robust US economic data adds to US$ strength weighing on gold and copper

Arkle Resources* (ARK LN) - Arkle Resources to complete additional drilling at Stonepark Botswana Diamonds (BOD LN) – Approvals for acquisition of the balance of Thorny River KEFI Gold and Copper* (KEFI LN) – Interims highlight strong growth pipeline of projects in Ethiopia and Saudi Arabia Keras Resources* (KRS LN) – Interims highlight strong progress in Utah Largo Inc. (LGO CN) – Largo Physical Vanadium announces trading on TSXV today Oriole Resources (ORR LN) – Interim report highlights

SP Angel Morning View: Base metals rise on low inventories and refinery disruption

Anglo Asian Mining* (AAZ LN) – Earnings supported by higher gold prices with 4c dividend recommended Galantas Gold* (GAL LN) – Mining contractor appointed for Joshua Vein development Oriole Resources (ORR LN) – Bibemi drilling demonstrates a second set of gold bearing veins Tertiary Minerals* (TYM LN) – Exploration collaboration with First Quantum in Zambia

Hybridan Small Cap Feast 08/08/2022

Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group exports to over 40 count

SP Angel Morning View: Copper prices briefly slide below $7,000/t on weak Chinese GDP

Largo Inc. (LGO CN) – Largo raise vanadium production from MaracasMenchen Mine in Brazil Rio Tinto (RIO LN) – Robust quarter on commissioning of new operations; growth outlook challenges highlighted Tertiary Minerals* (TYM LN) – Progress of Nevada exploration

SP Angel Morning View: Copper prices pull back as US consumer confidence sinks to 16-month low

Ariana Resources (AAU LN) – Annual results 20 years on Asiamet Resources (ARS LN) – Completion of Phase 1 due diligence on the BKM copper project, Kalimantan Eurasia Mining* (EUA LN) – Annual report highlights strong performance at West Kyltim PGM mine in Russia Goldstone Resources* (GRL LN) – Restoration of trading Tertiary Minerals* (TYM LN) – Drilling results from the Jacks copper project, Zambia

SP Angel Morning View: Tin, lithium and nickel prices bounce despite equity fall on monetary tightening

AfriTin Mining (ATM LN) – Uis mine delivers record 13% quarter-on-quarter increase in Q1 tin output Altus Strategies* (ALS LN) – Share purchases by the management Ariana Resources (AAU LN) – Tavsan drilling results Cornish Metals* (CUSN LN) – Valuation 48p/s – Indonesia insists that value must be added to tin exports as Chinese tin smelters take break for maintenance BHP (BHP AU) – Thermal coal exit scrapped as prices sit around record highs KEFI Gold and Copper* (KEFI LN) – Saudi Arabia op

LIBERUM: Sylvania Platinum* - Raising guidance on strong half

Alkaid #2 test - follow-on potential project economics

Chariot Limited (AIM: CHAR): Bringing water desalination capabilities in house is important for the green hydrogen business

• Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. • ENEO utilises an efficient, modular and scalable reverse osmosis technology that can be entirely powered by solar energy to produce desalinated water. ENEO is developing a proof of concept at a windfarm on the Red Sea in Djibouti that is under construction and is intended to provide local communities with access to potable water for the next 20 years. The capex of the project is very small (a few hundred thousand US dol

Forecast update

Diversified Energy will report a FY22 update in February and ahead of this we update our estimates for the lower gas price while also highlighting that the group's unique operating model substantially protects it from lower gas prices and higher interest rates, thereby ensuring it remains well placed to pay one of the highest dividend yields in the FTSE350.

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, Suspended, Under Review) - Sylvie Rucar appointed as independent NED

FY22 Trading Update

Diversified Energy has released a positive FY22 Trading Update and we increase our EBITDA forecasts by +3% in FY22 and 2023.

Arrow Exploration Corp. (AIM: AXL): High 3Q22 production in Colombia and US$4 mm free cashflow

• 3Q23 production of 1,503 boe/d was above our expectation of 1,262 boe/d on higher production at Rio Cravo (860 bbbl/d) and Ombu (215 bbl/d). This suggests a continued strong performance of the RCE-2 well. • Corporate production in November has ranged between 1,900-2,000 boe/d with current net production of 887 bbl/d at Rio Cravo (up from 760 bbl/d on 01 November). While the RCS-1 well is still cleaning up, the newly perforated C-7A zone is already adding 165 bbl/d net (330 bbl/d gross) produc

Cadence Minerals - Developing Amapá iron ore mine and strategic new technology metal interests

Cadence has secured a 30% stake in the Amapá iron ore mine, Brazil, for $9.3m, a project valued by Anglo American in 2012 at over $600m. With established infrastructure, Amapá is a company-making opportunity. Cadence has recently published a PFS on Amapá, which highlights the obvious value in the project. With equity interests in European Metals Holdings (Cinovec lithium-tin project in Czech Republic), Hastings Technology Metals (Yangibana REE project in Australia) and Evergreen (lithi

This Week's AIM Highlights 20th January 2023

Record production achieved in trying circumstances

Higher production at Vanchem coupled with another stable year at Vametco saw Bushveld deliver record annual vanadium production in 2022, though the adverse impact of electricity load shedding on the ramp up of Vanchem meant that the full-year total narrowly missed the group’s target. We still anticipate a return to positive EBITDA for 2022 and further earnings growth this year as Vanchem continues to gather pace. However, evidence of positive progress on load-shedding mitigation measures at Vanc

i3 Energy - Valuation Update

We are adjusting our fair value estimate for i3 Energy to align our commodity price estimates with weaker actual pricing than we had anticipated. We are lowering our 2023 WTI estimate to $84/b from $99/b and lowering our 2023 benchmark US gas price estimate to $5.50/mmbtu from $6.50/mmbtu. We have also updated our model to reflect the capex and production guidance provided by the company on 22 December 2022. Our updated 2023 cash flow from operations estimate amounts to $US109.6M, which equa

LIBERUM: Atlantic Lithium* - Latest resources in-line; valuation upped to 57p on higher throughput

IOG (IOG LN) - Trading update

IOG has released a trading update. This reports that operations at the Southwark A2 development well continue, with new plans to isolate three of the six stimulated zones, reperforate two other zones and then flow test the well again. IOG reported last week a disappointing 4.2mmcf/d maximum gross flow rate achieved at A2, and we would hope to see a much higher number, perhaps over 20mmcf/d based on original expectations, once the remediations are in place. The experience on A2 is also being used

Enhancing Ewoyaa: to extend or expand?

Q1 2023 Operational Update

Tharisa has released its production report for Q1 2023 today. The quarter has been impacted by unprecedented rainfall at the Tharisa mine. However, the company was able to minimise the impact on production through the use of their stockpiles to maintain plant throughput. PGM and Chrome concentrate production reduced by 6% and 8% QoQ respectively. Gross and net cash have increased by 49% and 29% respectively, in part due to the successful bond raise of US$31.8m and the continued strong free cash