ProCook, the UK's leading direct-to-consumer specialist kitchenware brand has joined the Main Market (Premium). ProCook's revenue grew by 37% to £53.4m in FY21 (ending 4 April 2021), with Adjusted EBITDA growing by 246% to £13.3m in the same period. Offer size £39.7m. Mkt cap £158m.
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What’s cooking in the IPO kitchen?
Ashtead Tech, subsea equipment rental and solutions provider for the global offshore energy sector to join AIM. The Directors have a high degree of
Companies: EML EVG IGE KDR VAST VLS VCP
Base Resources* (BSE LN) – Presentation to TZMI conference highlights Toliara project scale and capital cost increase along with indicative timeline of March 2025 to first shipment
BlueRock Diamonds (BRD LN) – BlueRock on track to meet production guidance by the year end
Ferro Alloy Resources (FAR LN) – Commercial sale of ferro-molybdenum
KEFI Gold & Copper* (KEFI LN) – Hawiah MRE update in Dec/21 to improve on grades and scale; PFS targeted for 2022
Karelian Diamonds (KDR LN) – Diamond ind
Companies: BSE FAR BRD KDR KEFI POW SAV TGR VAST
No joiners today.
Morrisons has left the Main Market following a takeover by a US private equity group.
What’s cooking in the IPO kitchen?
Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel exploration and development company, announced that the Company and Target Mine Consulting (Pty) Ltd have agreed to seek admission for 100% of the Blyvoor Joint Venture project (BV) by vending each of their separate interests into a new company to be listed on the Standard List of the
Companies: VAST DIS EUA GIF SPEC POW CHAR FOX
Gem Diamonds (GEMD LN) – Operational disruption prompts adjustments to production and cost guidance at Letšeng
Greatland Gold (GGP LN) – Further drilling results from Havieron show potential to expand the South East Crescent zone
Power Metal Resources* (POW LN) – Field exploration continues at South Ghanzi
Kavango Resources (KAV LN)
Rainbow Rare Earths* (RBW LN) - BUY – Valuation 43p – Results
Eurasia Mining* (EUA LN) – Asset sale update
Vast Resources (VAST LN) – £1.35m placing
Companies: EUA GEMD GGP KAV POW RBW VAST VUL
AfriTin* (ATM LN) –– Resource expansion drilling underway at Uis
Caerus Mineral Resources (CMRS LN) – Trench results from Trouli
Condor Gold* (CNR LN) - Valuation 102.5p – Detailed La India PEA published on SEDAR
Hochschild Mining (HOC LN) – Robust production delivered in Q3 with annual output/cost guidance reiterated
IronRidge Resources* (IRR LN) – Name change to Atlantic Lithium and demerger of gold assets into private vehicle
Petra Diamonds (PDL LN) – Q1 production and trading
Companies: ATM CMRS CNR HOC PDL SML VAST ALL SSW
We are initiating coverage of VAST Resources (VAST), which has wholly-owned Baita Plai and Manaila polymetallic mines plus an interest in two exploration projects, all located in Romania. At this stage, Baita Plai is the main driver for our valuation as it is currently being ramped up to 14kt per month. As such, we expect Baita Plai’s Cu eq output to reach c 2.4ktpa in FY23F followed by 3.3ktpa in FY24F. This, coupled with Manaila’s potential re-start of an additional 3ktpa of Cu eq over the sho
Companies: Vast Resources plc
Arc Minerals* (ARCM LN) – BUY – Assay results due soon from Cheyeza discovery. Annual results comment
Aura Energy* (AURA LN) – Annual results and project review
Empire Metals* (EEE LN) – Exploration update at Central Menzies
Eurasia Mining* (EUA LN) – Well capitalised with strong asset base to help the team deliver on development strategy
Europa Metals Limited (EUZ LN) – Updated resources estimate at the Toral zinc, lead, silver project in Spain
Ormonde Mining* (ORM LN) – Resignation of exe
Companies: AEE ORM ARCM EEE EUA RMM SML URU VAST EUZ
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
While we were away….
….Joiners 5 new ones over last 3 weeks:
Yooma Wellness Inc (AQSE: YOOM), a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, announces it has joined the AQSE Growth Market. Yooma, together with its European deal coordinator, Chrystal Capital Partners LLP, have raised gross proceeds of GBP7.5m , at a price of C$0.90 (£0.5232) per share. Lorne Abony, Chairman of Yooma, said: "Yooma's listing on the AQSE provides
Companies: AXS ARE B90 I3E MSYS ORR SEN SUR SNX VAST
Altus Strategies* (ALS LN) – First closing of the Caserones deal with finalisation targeted for 1 September
Botswana Diamonds (BOD LN) – Acquiring an interest in the Ghaghoo diamond mine, Botswana
Condor Gold* (CNR LN) – Appointment of CFO
Gem Diamonds (GEMD LN) – Sale of the Ghaghoo diamond mine
Kavango Resources (KAV LN) – Drilling progress at KSZ & awarding of new licenses
KEFI Gold and Copper* (KEFI LN) – Funding package outlined for Tulu Kapi
Oriole Resources (ORR LN) – Initial miner
Companies: ALS BOD CNR GEMD KAV KEFI ORR VAST
Adriatic Metals* (ADT1) – Exploration drilling continues at Rupice
Bluejay Mining* (JAY LN) – Kobold deal accelerates Disco project while tight market for titanium feedstock in China supports prices through summer
BlueRock Diamonds (BRD LN) – Large 21.56ct diamond of exceptional quality discovered at Kareevlei Diamond Mine
Botswana Diamonds (BOD LN) – Drill sample results from Thorny River
Castillo Copper (CCZ LN) – Plans for drilling the Arya prospect
Vast Resources (VAST LN) - £1.8m equit
Companies: ADT BRD JAY BOD VAST CCZ
Joiners: No Joiners Today.
Leavers: AFH Financial has left AIM following a takeover.
What’s cooking in the IPO kitchen?
Poolbeg, Proposed AIM listing and demerger from Open Orphan (ORPH.L). Funds raised as part of Admission will be used primarily to fund the clinical trial costs associated with the development of the Company’s POLB 001 asset as a treatment for severe influenza and to acquire and develop new portfolio assets. Offer details and timing TBA
Wise, the Fintech and payments start-u
Companies: BLCC CNIC DRUM MDZ SNT SMRT VAST VOG EXR ZNWD
Empire Metals* (EEE LN) – Drilling restarts at Eclipse
Bushveld Minerals* (BMN LN) – Mustang Energy Plc acquires 11% interest in Enerox GmbH through VRFB Holdings for $7.5m
Fortuna Silver Mines to buy Roxgold for $884m cash-and-stock deal
IronRidge Resources* (IRR LN) – Assore supports IronRidge in £12m placing
Phoenix Copper* (PXC LN) – Appointment of director and creation of advisory board
Rambler Metals and Mining* (RMM LN) – 2020 annual results
Scotgold Resources* (SGZ LN) – Operation
Companies: BMN EEE PXC RMM VAST ALL SGZ
Anglo Asian Mining* (AAZ LN) - BUY – Anglo Asian extends the Gedabek contract area PSA for another five years
Mkango Resources* (MKA LN) – Mkango appoints US advisory firm to help connect with US government strategy
BHP (BHP LN) – Record year-to-date iron ore production from W Australia
Hummingbird Resources (HUM LN) – Q1 production results
Savannah Resources* (SAV LN) – Proposed placing to raise up to £10.3m
Shanta Gold (SHG LN) – Quarterly production results
Vast Resources (VAST LN) – Pr
Companies: MKA AAZ BHP HUM SAV SHG TGR VAST
Alba Mineral Resources (ALBA LN) – Waste dump sampling at the Clogau St David's mine
Arkle Resources* (ARK LN) – Denial of rumours concerning a reverse takeover
Castillo Copper (CCZ LN) – Historical data review highlights potential at Arya
IronRidge Resources* (IRR LN) – Multiple high grade lithium intersections point to Eqoyaa resource growth potential
KEFI Gold and Copper* (KEFI LN) – Phase 3 step out drilling extends Hawiah along strike and down dip Rambler Metals and Mining* (RMM LN) – A
Companies: ALBA ARK KEFI RMM VAST CCZ ALL
Research Tree provides access to ongoing research coverage, media content and regulatory news on Vast Resources plc.
We currently have 155 research reports from 6
Jubilee today announce the full year results for FY 2021 ending in June 21. It was a year of continued progress with revenues up 143% to £133m (from FY 2020), adjusted PBT up 324% to £52m and eps up 93% to 1.8p/sh – an extraordinary year – but still only the beginning of the progression in our view. Continued developments in South Africa have led to a fully flexible chrome and chrome tailings solution at Inyoni. Supply from a wide variety of sources (Run-Of-Mine, new tailings from own operati
Companies: Jubilee Metals Group PLC
Jubilee operates several chrome-Platinum Group Metal (PGM) operations in South Africa. Growth will come from its Zambian two-refinery strategy where it is expected to produce upwards of 31kt/year of copper (in cathode and concentrate) with an, as yet, undefined contribution from cobalt. The strategy has benefited from the acquisition of the Nkana refinery from Mopani (Zambian-government owned), which provides many logistical and technical benefits to Jubilee. Jubilee remains on a growth trajecto
Friday's market sell off saw some violent downward moves in many stocks with little initial differentiation between sectors or the key drivers of businesses, creating significant share price drops in a number of higher quality or uncorrelated names. We take a look at some stocks we believe have either seen an unwarranted sell-off, have seen weakness go under the radar or where there is now a more attractive opportunity.
Companies: ANX IBPO CYAN SOM EQT AFM
Solaris Resources (“Solaris”, “SLS”) has announced its intention to place its non-core assets in Ecuador, Peru, Mexico and Chile into a separate entity, to be spun off as “Solaris Exploration Inc” in due course. Solaris Resources will continue to focus on its world-class flagship Warintza project, with a streamlined structure likely to boost its attractiveness to potential acquirers or strategic partners. Meanwhile, the newly created company will highlight other assets in the portfolio which cur
Companies: Solaris Resources Inc
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No leavers today
What’s cooking in the IPO kitchen?
Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
Savannah today announces that it is amicably terminating its JV arrangement with Rio Tinto over the Mutamba Minerals Sands project in Mozambique. Savannah has been paid $9.5m (which translates into 0.4p/sh) in cash to relinquish the 20% it has earned in the project and will cease all activity in country. All staff will transfer to Rio Tinto.
Companies: Savannah Resources Plc
Across a broader market sell off EQTEC have shown resilience and is trading at 1.55p, above its placing in May, up 25% from one month ago.
Companies: EQTEC PLC
We initiate coverage of Tungsten West Ltd (“TUN” or “the company”) with a GBp144/sh price target. TUN is focussed on the re-opening of the Hemerdon Tungsten Mine in Devon, UK, which was previously owned and operated by Wolf Minerals (UK) Ltd (“Wolf”). Since acquiring the project in Nov’19, TUN has resolved issues encountered by Wolf and optimised the project further with new revenue streams and technology. In March 2021 TUN produced a Bankable Feasibility Study (“BFS”) for Hemerdon, validated by
Companies: Tungsten West Plc
Deeside project update
Bluejay Mining PLC (“JAY”) has announced the completion of bulk sample pilot plant processing and further, final samples being sent for incremental customer evaluation. We view this as an important step for both validating the process flow sheet and ultimately securing offtake agreements for the remaining expected output. JAY has agreed a Master Distribution Agreement with a major Asian conglomerate for up to 340ktpa of Dundas’ anticipated 440ktpa annual output. We see future technical studies a
Companies: Bluejay Mining PLC
Savannah Resources is a hardrock lithium exploration and development company with a 100% interest in the Barroso Lithium Project in the Northern Portugal hosting 27mt at 1.06% Li2O for ~700kt LCE, the largest spodumene lithium resource in Western Europe. Project environmental permitting is currently in progress paving the way for the completion of the Feasibility Study and eventual project financing. The project benefits from the strategic location as Europe rapidly expands it Li-ion batteries a
Companies: Shanta Gold Limited
Cornish Metals has now released the results of 10 drillholes at its continuing exploration programme at United Downs near Camborne. Including two holes drilled on the property by Cornish Lithium the drilling shows up to 5 mineralised structures with a total of twenty-two individual mineralised intercepts.
Even though the area has been mined intermittently between the early 1700s and the late 20th century, the drilling evidence bodes well for the delineation of additional mineral resources wh
Companies: Cornish Metals Inc.
Initiating Coverage: Price Target 20p
Potential Beyond Tin
AfriTin Mining Limited (ATM) is one of only three listed tin producers in Western markets. It has a large (820km2) land package in Namibia comprising 5 prospective licenses of which the Uis mine is the most advanced and already in production. Near term growth is being delivered with an 80% increase in tin production between 2022 and 2024. However, this is only scratching the surface and there are more than conceptual plans being fo
Companies: AfriTin Mining Ltd.
Savannah Resources has sold its interest in the Mozambique mineral sands project (Mutamba) to JV partner Rio Tinto for $9.5m in cash. The payment has already been made to one of Savannah’s UK subsidiaries.
Given Barroso’s importance and capital requirements over the coming months, we view this as very good news. It allows management to dedicate all its time to Barroso and reduces future SAV equity dilution. Despite the strong lithium price and exceptional performance of ASX and TSX lithium sto