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

Thor Mining (THR) – Corporate – Name change to “Thor Energy Plc”

Thor Mining Plc today announces that it has changed its name to Thor Energy Plc. The name change reflects Thor's focus on the exploration of uranium and other energy metals (vanadium, copper, lithium) in Australia and the USA. The change of name to Thor Energy Plc is registered at Companies House and will take effect on the AIM Market of the London Stock Exchange from the commencement of trading on 18 January 2023. Further details are provided in today's RNS.

SP Angel Morning View: Metals pull back on Fed 0.5% rise and prospect of higher rates for longer to combat inflation

BlueRock Diamonds* (BRD LN) – BlueRock plant confirms 90,000tpm throughput is achievable as strip ratio falls to just 1:1 Horizonte Minerals (HZM LN) – Confirmation that the Araguaia ferronickel project remains on schedule and budget Kobold Metals (Private) – Kobold invests $150m into Mingomba jv with EMR Capital Pilbara Minerals Ltd (PLS AU) – Pilbara sells 5.5% spodumene concentrate shipment at US$7,552/dmt eq. $8,299/dmt for 6% SC6 Red Rock Resources (RRR LN) – US$0.5m exploration fundi

WH Ireland: Thor Mining (THR) - High-grade Copper and Gold confirmed at Kelly's NE

Thor Mining today provides an exploration update following rock chip sampling at Kelly's NE prospect, part of the Ragged Range project in Western Australia. Sampling was undertaken in parallel with recent RC drilling at Kelly's Prospect (RNS 26.10.22), and targeted outcropping north-south trending quartz breccia veins with copper and iron oxides (approximately 750m northeast of Kelly's Prospect).

WH ireland: Thor Mining (THR) - $8M Farm-in Funding Agreement to Accelerate Molyhil Project, Northern Territory

Today Thor announces that its wholly owned subsidiary Molyhil Mining Pty Ltd has signed a Heads of Agreement (HOA) with ASX-listed Investigator Resources Limited (IVR) to fund the accelerated exploration of Thor's 100%-owned Molyhil tenements, in the Northern Territory, and the sale the neighbouring Bonya tenement in which it has a 40% interest. Molyhil is an advanced tungsten-molybdenum project.

WH Ireland: Thor Mining (THR) - High-grade gold intersected at Kelly's Ridge, Ragged Range Project

Today Thor announces that it has received partial results from the Kelly's Ridge drill programme that targeted a well-defined gold-bearing structural target with associated alteration at the Ragged Range project in Western Australia. Drill hole 22RRC0052 returned a 4m downhole interval grading 12.2 g/t gold from 194m. Today's results are from prioritised intervals with visible alteration, and are for gold values only. Other intervals with visible alteration remain pending. Further results are an

Thor Mining (THR) – Exploration Update for Ragged Range Project, WA

Results reported today for the Sterling prospect demonstrates that gold mineralisation extends to depth, and that associated alteration is typical of shear hosted greenstone deposits. Only a small fraction of the 13km exploration target has been tested and further investigation is required to determine its economic potential. We look forward to learning the results of drill samples taken along projections of copper and gold mineralisation at the Kelly's Prospect, and the pending results of drill

Hybridan Small Cap Feast 10/10/22

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Cooks Coffee Company ltd, an international coffee focused café chain which currently owns the Esquires Coffee and Triple Two Coffee Brands, intends to join the AQSE Growth Market. The Company is the 4th largest coffee focused café chain in the UK. Cooks Coffee is currently listed on the New Zealand Stock Exchange. Raising £1.5m through a rights issue in New Zealand and a private placement.

SP Angel Morning View: Robust US labour data helps US$ higher weighing on gold prices

Anglo American (AAL LN) – Strike action by Transnet triggers declaration of force majeure by Kumba Iron Bluejay Mining* (JAY LN) – Disko field program highlights multiple novel targets with coincident geophysical anomalies close to high-grade boulder Bushveld Minerals* (BMN LN) – Mustang Energy Plc notify market on cancellation of backstop convertible Central Asia Metals (CAML LN) – Stable production in Q3/22 with guidance reiterated Culpeo Minerals (CPO AU) – Positive surface sampling at Qu

WH Ireland: Thor Mining (THR) - RC Drill Program Commences at Ragged Range

Thor today announces that it has commenced a 2,000m RC drill programme at the Kelly's prospect, part of its 100% held Ragged Range project in Western Australia. Drilling will target projections of structurally controlled copper mineralisation below historical mine workings, and a sheared and silicified contact that returned high-grade gold and silver values in chip samples. Further details of the planned drill programme are provided in today's RNS. Thor also advises that on-going drilling at its

Hybridan Small Cap Feast 30/09/22

Dish of the day Joiners: No leavers today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Milton Capital Plc, a new type of special purpose acquisition company, intends to join the Standard Segment of the Main Market. The directors intend to search initially for acquisition opportunities in the technology sector. The focus for the prospective acquisition is megatrends. This includes sectors such as space, artificial intelligence, machine learning and blockchain technology. Ticke

WH Ireland: Thor Mining (THR) - US Uranium Drilling Commences

Today Thor announces that drilling has commenced at its 100% owned Wedding Bell and Uranium Mountain projects in Colorado, the USA. The 2,000m drill programme will target shallow projections of high-grade uranium and vanadium mineralisation around historical workings at the Rim Rock and Groundhog prospects, and, for the first time ever, Thor will drill test the highly prospective ‘Salt Wash' horizon at the Section 23 prospect.

WH Ireland: Thor Mining (THR) - Ragged Range Project, WA - Off-hole Electromagnetic Conductor Identified beneath Nickel Gossan

Today Thor announces that it has received the results of a down-hole electromagnetic survey, and assay results from drill samples at the Krona nickel prospect, Ragged Range, Australia. A single RC drill hole (22RRRC045) targeting a sub-surface conductivity anomaly below an outcropping nickel gossan returned 66m grading 0.19% nickel from 81 m, suggesting that the anomaly is related to nickel mineralisation. Additionally a down-hole electromagnetic survey identified an off-hole conductor consisten

Hybridan Small Cap Feast 07/09/22

Dish of the day Joiners: No joiners today. Leavers: Stanley Gibbons Group has left AIM. What’s cooking in the IPO kitchen?** Critical Metals plc, a company established to acquire mining opportunities in the critical and strategic metals sector, is to be re-admitted onto the Main Market under the ticker “CRTM”, following the proposed acquisition of a 57% interest in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project located in the Democratic Republ

Alkaid #2 test - follow-on potential project economics

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.

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

This Week's AIM Highlights 20th January 2023

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

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

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

Tungsten West: Revised plan to optimise Hemerdon for higher energy prices & other costs

Tungsten West (“TUN”) has published an updated Bankable Feasibility Study (“BFS”) post its re-optimisation of the Hemerdon project in light of higher energy prices and other key input costs. The revised plan reduces capex by ~£20m and cuts energy intensity, trading this off against slightly reduced tungsten output and lower payabilities. The completion of the BFS is a key milestone on the path to securing project financing. Site refurbishment and staff recruitment activities have continued since

Q4 Production Update

Shanta Gold (AIM: SHG), the East Africa-focused gold producer today released a production and operational update for Q4 2022 which was effectively in line with expectations. The Company did just miss its 2022 guidance set 12 months ago (68-76koz) producing 65.2koz but AISC was within the range guided at US$1,270/oz. The CEO, Eric Zurrin, commented that there are numerous initiatives underway for 2023 to optimise production including more open pit mining capacity and an extra underground producti

i3 Energy - Historical evolution of EV/CF multiples in Canadian E&P Sector + Comps

Figure 1 provides the historical EV/CF multiples for selected high-growth peers of i3 Energy operating in Canada. Table 1 provides the EV/CF multiples for our selection of the “best of the best” of Canadian junior E&P stocks, of which i3 Energy is one. We highlight that i) the outlook for the oil price has rarely been so robustly supported into the long-term and ii) the wells being drilled systematically in Canada today are some of the most economic wells being drilled by Canadian E&P companies

Hybridan Small Cap Feast - 17 Jan 23

17 January 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 object

Hybridan Small Cap Feast - 25 Jan 23

25 January 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 object

SHORE CAPITAL - Scotgold Resources+ (SGZ, House Stock at 54.5p)

Zephyr Energy Plc (AIM: ZPHR): Paradox well encounters substantial hydrocarbons while drilling

• The State 36-2 LNW-CC well in the Paradox basin encountered a significant influx of natural gas and condensate from the Cane Creek reservoir. The well has been stabilized and currently has a high flow rate to surface where production is currently being flared. • The influx was caused by the well intersecting an apparent major natural fracture network in the reservoir. • Encountering natural facture networks has historically been the key to delivering major wells in the basin. For instance, th

West Kenya Project Resource Update

Shanta Gold (AIM: SHG), the East Africa-focused gold producer has this morning released an update on the resource at its West Kenya Project (WKP). The total resource at WKP has increased from 1.55Moz to 1.7Moz with more ounces in the indicated category – see fig1. Within this is the Kakamega camp which has 1.3Moz grading 10.6g/t of which 722Koz are now in the indicated category.