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Alan Green talks inflation, BP #BP, Blue Prism #PRSM & Karelian Diamonds #KDR on UK Investor Magazine podcast

We once more welcome Alan Green back to the UK Investor Magazine Podcast for our weekly exploration of UK equities and global markets.

UK inflation was today’s topic of discussion before we drilled down into BP (LON:BP), Blue Prism (LON:PRSM) and Karelian Diamonds (LON:KDR).

UK inflation rose to 2.1% in May as fuel, recreational goods and clothing helped prices higher as the economy reopened. A reading of 2.1% is marginally above the Bank of England’s target rate of 2% but with signs prices could elevated, there may be concerns in some corners of the market that it will force the BoE to hike rates in an economy not fully recovered from the pandemic.

As a gauge of the market’s feeling around potentially higher rates in the future, GBP/USD spiked higher by 40 points to GBP/USD 1.4120 in immediate reaction, before falling back.

Fuel prices rose 17% year-on-year, the biggest jump since 2017 as oil prices continued their march higher.

Echo Energy #ECHO – Result of Annual General Meeting

Echo Energy, the Latin American focused full cycle energy company, advises that it held its Annual General Meeting (AGM) earlier.

The resolutions were voted on by way of a poll. Resolutions 1 to 5 were duly passed whilst resolution 6 did not meet the requisite 75% voting threshold for that special resolution to pass.

The proxy votes cast prior to the AGM were as follows:

Resolutions

For

%

Against

%

Withheld

1

140,309,493

 

99.87

 

186,808

0.13

0

2

137,434,846

97.82

3,061,455

2.18

0

 

3

137,088,704

97.60

3,368,783

2.40

38,814

4

80,078,956

57.01

60,388,574

42.99

28,771

5

136,502,821

97.20

3,925,895

2.80

67,585

6

78,704,196

56.05

61,724,520

43.95

67,585

 A “Vote withheld” is not a vote in law and is not counted in the calculation of the percentage of shares voted “For” or “Against” any resolution

For further information please contact:

 

Echo Energy plc

Martin Hull, Chief Executive Officer

 

Via Vigo Communications Ltd

 

 

 

Cenkos Securities plc (Nominated Adviser)

Ben Jeynes

Katy Birkin

 

 

Tel: 44 (0)20 7397 8900

Vigo Communications Ltd (PR Advisor)

Patrick d’Ancona

Chris McMahon

 

 

Tel: 44 (0)20 7390 0230

Shore Capital ( Corporate Broker)

Jerry Keen

 

 

Tel: 44 (0)20 7408 4090

Kavango Resources #KAV Raises £31,250 in Warrant Exercises

Kavango announces it has received notices to exercise warrants over 1,250,000 new ordinary shares of £0.001 each in the Company (the “Warrant Shares”).

The Warrant Shares are being issued pursuant to the exercise of warrants granted and announced on 15 April 2020.  Subscription monies of £31,250 have been received by Kavango in respect of these exercises.

Admission and Total Voting Rights

Application will be made for the Warrant Shares to be admitted to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (“Admission”).  It is expected that Admission will become effective and that dealings in the Warrant Shares will commence at 8.00am on or around 22 June 2021.

Following Admission, the total issued share capital of the Company will consist of 361,852,139 Ordinary Shares. Therefore, the total number of voting rights in the Company is 361,852,139 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company. 

Further information in respect of the Company and its business interests is provided on the Company’s website at  www.kavangoresources.com   and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc   

Michael Foster

mfoster@kavangoresources.com

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker) 

+44 1483 413500

Nick Emerson

Alan Green talks Coinsilium #COIN, Tertiary Minerals #TYM & MetalNRG #MNRG on Vox Markets podcast

Alan Green discusses Coinsilium #COIN, Tertiary Minerals #TYM & MetalNRG #MNRG with Justin Waite on the Vox Markets podcast. Interview is 23 minutes 39 seconds in.

Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS, ASX: MIO) to sharpen focus on iron ore delivery: Pilbara Gold and Copper assets and new Leonora Gold tenements to underpin new ASX listing.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) has announced that it intends to spin-out its non-iron ore assets in the Pilbara into Infinity Mining Limited (Infinity) (previously Macarthur Australia Limited, a wholly owned subsidiary of Macarthur). Infinity currently holds the Company’s Pilbara gold/copper/lithium tenements (Pilbara Assets) through Infinity’s subsidiary company, Macarthur Lithium Pty Ltd (MLi). The Company proposes to undertake an initial public offering of Infinity (IPO) and apply for its listing on the Australian Securities Exchange (ASX).

Why the spin-out is positive for Macarthur shareholders

This strategy will fast track further exploration and the future development potential of the Pilbara Assets and allow Macarthur to focus solely on the development of its flagship iron ore projects situated at Lake Giles in the Yilgarn region of south-western, Western Australia. 

Infinity also holds an exclusive right to undertake due diligence on 10 historic gold/copper tenements in the Leonora area of the Central Goldfields region of Western Australia, held by Zanil Pty Ltd (Zanil) (Central Goldfields Assets). An independent technical report on the Pilbara Assets and the Central Goldfields Assets has been compiled to support a transaction, and Infinity and Zanil are in advanced discussions on the terms of a sale and purchase agreement. Subject to completion of satisfactory due diligence on the Central Goldfields Assets by Infinity, it is intended that those assets will be vended into Infinity following the listing of Infinity on ASX.

This combined asset exploration and development strategy means that Macarthur’s post listing shareholding in Infinity will have the potential to drive further value in Macarthur for the benefit of its shareholders.

The Company will provide further details with respect to the spin out transaction and IPO listing in a subsequent news release. 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/278e3519-a039-497d-93f7-9ac330fa193d

Link to the full announcement, including details of all Pilbara and Central Goldfields assets and work undertaken to date here https://finance.yahoo.com/news/macarthur-minerals-sharpen-focus-iron-120000717.html

Joe Phillips, Managing Director of Macarthur Minerals commented: “Macarthur’s board has carefully considered all available options and we believe the value of the Pilbara gold/copper/lithium assets is not reflected in the current share price of Macarthur and see this as a way to create additional value for shareholders via a priority IPO spin off to be listed on the ASX. The addition of the Central Goldfields Assets into the portfolio will provide the new company access to potential surface gold historically identified that may be Toll treated through regional gold mines. The new vehicle will evaluate opportunities outside of the iron ore space, and will ensure that Macarthur retains its primary focus on the Lake Giles Iron Project. The Company will provide further details with respect to the spin out transaction and IPO listing in a subsequent news release.”

Cadence Minerals Holding in Macarthur

Cadence holds approximately 1% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– Ends –

 

For further information:

Cadence Minerals plc

  +44 (0) 7879 584153

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

  +44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Novum Securities Limited (Joint Broker)

  +44 (0) 207 399 9400

Jon Belliss

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding Cadence Minerals Plc’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of Cadence Minerals Plc. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. Cadence Minerals Plc cannot assure investors that actual results will be consistent with such forward-looking statements.

Kavango Resources #KAV – Shareholder presentation on KSZ Drilling

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce that Ben Turney will be presenting at Shares Magazine Investor Evening on KSZ Drilling on Wednesday 16 June.

Ben is scheduled to speak at 1920 and will present the Company’s recently announced drill plans in the northern (Hukuntsi) section of the Kalahari Suture Zone.

Ben will provide shareholders and investors with screenshots and maps of the latest geophysical models Kavango has developed, following successful completion of further Time Domain Electromagnetic surveys in the area.

To register for the event please visit the link below.

https://www.sharesmagazine.co.uk/events/event/shares-investor-evening–webinar-160621

The presentation will be recorded and a copy will be made available via the Company’s social media channels.

 

For further information please contact:

Kavango Resources plc   

Ben Turney

bturney@kavangoresources.com

 

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Broker) 

+44 1483 413500

Nick Emerson

Note to Editors:

THE KALAHARI SUTURE ZONE

Kavango’s 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km2 of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques.

The area covered by Kavango’s KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey’s Bay (Canada). 

The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia’s nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango’s licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits.

Mosman Oil & Gas #MSMN – Falcon-1 Production Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on the Falcon-1 well and the Stanley Project in East Texas, USA.

Falcon-1 (Mosman 50% working interest)

The Falcon-1 well was recompleted in a new zone last week and Mosman now confirms that the Falcon-1 well is producing gas and oil with no reported water. The flow is intentionally restricted with a 5/64 choke well to monitor the well performance. The production rate with this choke is c600 mmbtu/day (c105 boepd) and the well has been operating at this level since 12 June. Whilst this gas and oil production rate is similar to the recent production rate in the lower zone, the profit margin will be greater as operating costs will be reduced due to lower water disposal costs.

Production from this zone also verifies the wireline log interpretation of multiple hydrocarbon bearing zones in this well. This will enable an update of the geological model of this lease and the adjacent Galaxie lease.

Stanley (Mosman 15-19% working interest)

The Operator has advised that hot oil treatment of the surface pipeline was successful and enabled an increase in gross production from Stanley-3 from 40 to 65 bopd.

The Operator has also advised that Stanley-4 will be back on production this week. The decision has also been made to gravel pack Stanley-1 for sand control, in order to produce the well without needing workovers to remove sand from the wellbore or pumping equipment, and this well should also be back on production in the near future. 

Qualified Person’s Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.comacarroll@mosmanoilandgas.com

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Adam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

Updates on the Company’s activities are regularly posted on its website:

www.mosmanoilandgas.com

Power Metal Resources #POW – Marketing and Communications Update

Power Metal Resources plc (LON:POW) the AIM listed metals exploration and development company is pleased to announce a marketing and communications update for shareholders.

Launch of New Website

The Company is pleased to announce the launch of its new corporate website.

With the growth of the Company’s global portfolio in recent months and exploration across the project portfolio, the team at Power Metal have been working hard on shareholder communications and are pleased to provide a new website in the recently rebranded corporate identity.

The new website provides an up-to-date summary of the Company’s project portfolio and corporate affairs and may be accessed through the following link: www.powermetalresources.com  

Shares Magazine Investor Evening

The Company’s Chief Executive Officer Paul Johnson will be delivering a presentation and answering investor questions at the forthcoming Shares Magazine Investor Evening on 16 June 2021 (starting at 6pm).  Investors wishing to attend this online event may register through the following link:

https://www.sharesmagazine.co.uk/events/event/shares-investor-evening–webinar-160621

For further information please visit  https://www.powermetalresources.com/  or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

 

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

 

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

 

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Notes to Editors:

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration and development company seeking large scale metal discoveries.

The Company has a global portfolio of project interests including precious and base metal exploration in North America, Africa and Australia. Project interests range from early stage greenfield exploration to later stage prospects currently subject to drill programmes.

The Board and its team of advisors have expertise in project generation, exploration and development and have identified an opportunity to utilise the Company’s position to become a leader in the London market for investors wishing to gain exposure to proactive global metals exploration.

Open Orphan #ORPH – Proposed Distribution in Specie & Notice of Results

Open Orphan plc (AIM: ORPH),  a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials , announces that, further to previous announcements, it proposes to make a distribution in specie of the entire issued share capital of its wholly-owned subsidiary Orph Pharma IP Company Limited (“Orph Pharma”) to Poolbeg Pharma Limited (“Poolbeg”), in return for the issue of new shares by Poolbeg (“Poolbeg Shares”) to shareholders of Open Orphan on the register at close of business on 17 June 2021 (“Relevant Shareholders“). 

The approval of Open Orphan shareholders to such distribution in specie was granted at Open Orphan’s general meeting held on 29 April 2021. 

It is expected that Open Orphan ordinary shares will be marked “ex rights” at 8.00 a.m. on 16 June 2021.

It is also expected that the board of Open Orphan will convene formally to make such distribution in specie on 18 June 2021 and that Relevant Shareholders will receive one Poolbeg Share for every 2.98 ordinary shares held in the Company, with resultant entitlements rounded down to the nearest whole number. Prior to the making of the distribution in specie, Open Orphan and Poolbeg intend to enter into a demerger agreement providing for the issue of the Poolbeg Shares to Relevant Shareholders in return for the distribution in specie of the entire issued share capital of Orph Pharma to Poolbeg.

Further to the Company’s announcement of 13 April 2021, the board of Open Orphan has determined that if and when the Poolbeg Shares are admitted to trading on AIM (“Admission”) Relevant Shareholders who receive Poolbeg Shares will not be permitted to sell, transfer or deal in such Poolbeg Shares for a period of 9 calendar months (the “Lock-up Period”). Accordingly, Open Orphan and Poolbeg have appointed Croft Nominees Limited (“Croft”) to hold the legal title to the Poolbeg Shares from the date on which the distribution in specie is effected until the date which is 9 months from Admission.

Croft has agreed to hold on trust on behalf of Relevant Shareholders, the beneficial owners of the Poolbeg Shares, an omnibus share certificate representing all the Poolbeg Shares until the end of the Lock-up Period and to take certain limited actions with respect to the Poolbeg Shares. Following the expiry of the Lock-up Period Croft will deliver the share certificate to Poolbeg’s registrar and will execute stock transfer forms to transfer the Poolbeg Shares to Relevant Shareholders based on a schedule to be provided to Croft by Poolbeg, and upon the registration of such Relevant Shareholders (or their respective personal representative, nominee or successor in title) as legal holders of such shares, Croft will be released from its obligations in relation to such trust arrangements.

In the event of a general meeting of Poolbeg during the Lock-up Period, Poolbeg will arrange for its registrar to contact Relevant Shareholders to ascertain how (if at all) they wish to vote. Croft will then complete a proxy form reflecting the voting intentions as so communicated to Poolbeg’s registrar. However, following the issue of the Poolbeg Shares to Relevant Shareholders, and given the passing of the resolutions at the general meeting of the Company on 29 April 2021, the board of Open Orphan intends to instruct Croft to vote the Poolbeg Shares in favour of resolutions to re-register Poolbeg as a public limited company and adopt appropriate public company articles of association.

It is intended that Relevant Shareholders will receive a letter informing them of their beneficial holdings of Poolbeg Shares shortly after the issue of the Poolbeg Shares.

Following the Lock-up Period, Relevant Shareholders (or their respective personal representative, nominee or successor in title) will receive individual registrations in respect of their Poolbeg Shares.

The anticipated timetable for the proposed Open Orphan distribution in specie is:

 

Open Orphan ordinary shares marked as ex rights

8.00 a.m. on 16 June 2021

Record date for the distribution in specie

Close of business on 17 June 2021

Distribution in specie effected

18 June 2021

Registration of Poolbeg Shares in the name of Croft Nominees Limited

Upon issue on 18 June 2021

 

A copy of the undertaking in relation to Croft Nominees Limited acting as legal holder of the Poolbeg Shares will be made available in due course via the investor section of the Company’s website.

Notice of Results

The Board expects to release the Company’s audited results for the year ended 31 December 2020 on 17 June 2021. It also expects, at the same time, to update shareholders on the progress of the anticipated admission to trading on AIM of Poolbeg.

 

Open Orphan plc

+353 (0) 1 644 0007

Cathal Friel, Executive Chairman

Arden Partners plc (Nominated Adviser and Joint Broker)

  +44 (0)20 7614 5900

John Llewellyn-Lloyd / Richard Johnson / Oscair McGrath

finnCap Ltd (Joint Broker)

+44 (0)20 7220 0500

Geoff Nash / James Thompson/ Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell

Walbrook PR (Financial PR & IR)

+44 (0)20 7933 8780 or  openorphan@walbrookpr.com

Paul McManus / Sam Allen

+44 (0)7980 541 893 / +44 ( 0)7748 651 727

 

Notes to Editors

Open Orphan plc    (London and Euronext: ORPH) is a rapidly growing pharmaceutical service/contract research company that is a world leader in testing vaccines and antivirals using human challenge clinical trials. The company provides services to Big Pharma, biotech and government/public health organisations. 

Open Orphan runs challenge studies in London from both its 19-bedroom Whitechapel quarantine clinic, opened in February 2021, and its 24-bedroom QMB clinic which also has a highly specialised virology and immunology laboratory on-site. Open Orphan has a leading portfolio of eight human challenge study models for conditions such as RSV, flu, asthma and COPD. In addition, Open Orphan is also developing the world’s first COVID-19 human challenge study model as part of the    Human Challenge Programme    and has signed a reservation contract with the UK Government for the first three COVID-19 vaccine challenge studies.

Building upon its many years of challenge studies and virology research, the Company is developing an in-depth database of infectious disease progression data. Based on the Company’s Disease in Motion® platform, this unique dataset includes clinical, immunological, virological and digital (wearable) biomarkers. The Disease in Motion platform has many potential applications across a wide variety of end users including big technology, wearables, pharma and biotech companies. Following COVID-19 there is now a renewed interest and investment in infectious diseases. 

Open Orphan’s Paris office has been providing biometry, data management and statistics to its many European pharmaceutical clients for over 20 years. For over 15 years, the Company’s Netherlands office has been providing drug development consultancy and services, including CMC (chemistry, manufacturing and controls), PK and medical writing, to a broad range of European clients. Both offices are now also fully integrated with the London office and working on challenge study contracts as well as supporting third party trial  contracts

Alan Green discusses Petroteq Energy #PQE & Power Metal Resources #POW on his weekly Stockbox Media Research talk

Alan Green discusses Petroteq Energy #PQE & Power Metal Resources #POW on his weekly Stockbox Media Research talk

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