RNS Hotlist May 11: Andrada, Equipmake, Fulcrum, Genflow, Panther, PetroTal

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

Fulcrum Metals (FMET), a company focused on mineral exploration and development in Canada, provided a detailed update on its exploration activities in both Ontario and Saskatchewan. The company said that since listing, it has made solid and important progress at the significantly sized Schreiber-Hemlo Project covering approximately 113 square kilometres, in which the Big Bear property is demonstrating all the required characteristics such as high-grade gold in surface samples, favourable geology, favourable structures and potential regional scale shear zones that control the mineralisation, which are all desirable for economic mineral deposits.

Comment: FMET has underlined yet again how it has hit the ground running in the wake of its listing earlier this year, and that it is keen to deliver progress in Canada.

Genflow (GENF), said it has proactively decided to restructure both itself and the company’s Scientific Advisory Board. This step has been taken to align with the company’s current objectives and priorities in the US. The company said it remains dedicated to adapting and evolving in the ever-changing longevity space. Its collective and individual agility gives it a significant advantage over larger competitors and allows it to remain at the forefront of this dynamic industry.

Comment: The market clearly liked the recent announcement from GENF revealing that it has a two year cash runway, something which has rather stopped the mudslinging from the bears in its tracks. Today’s RNS should allow the shares to build on last month’s recovery.

Equipmake (EQIP), the UK-based engineering specialist, reported further details relating to the recently announced £1.6 million grant for the development of electrification technology for electric vehicles. The company said it was delighted to have been recognised by Innovate UK and the Advanced Propulsion Centre for our pioneering work in the electric vehicle development and repowering industries. It believes that its technology and electrification products have wide-ranging applications across the transport sector, and is excited to be working with consortium partners to further the implementation of green power across the commercial and passenger vehicle markets.

Comment: An as yet under the radar company which is in the right space at the right time, and has one of the larger market caps on Aquis. We can expect Equipmake to keep building on the progress made since last summer’s successful IPO.

Andrada Mining (ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, announced the appointment of Barclays Bank PLC acting through its Investment Bank, as a strategic adviser to advance its lithium portfolio. ATM said as it accelerates its trajectory towards producing lithium and establishing Namibia as a major producer, it is imperative that it collaborates with an appropriate strategic partner to realise value from this opportunity within the shortest timeframe. The appointment of a financial advisor for the Strategic Assessment will be key to ensuring that it has a well-structured and successful outcome. Barclays provides the optimal combination of extensive experience in advising on strategic partnerships and access to the global financial markets.

Comment: Andrada appointing a heavyweight such as Barclays as a strategic advisor is quite a coup, and should not only allow it to advance its lithium portfolio, but give ATM the kudos in the market it deserves. One would also expect the post March recovery in the stock to continue off the back of this Barclays news.

PetroTal (PTAL) reported its operating and financial results for the three months ended March 31, 2023. The company said it has achieved production in excess of 20,000 bopd for over 74 days since late February 2023.  Q1 2023 was a transformational quarter for its business, as it repaid its corporate bonds in full, reinitiated a material and rewarding return of capital program, and upsized the barging fleet.

Comment: One would expect that after today’s reminder of progress made at PTAL, the shares will start to break out of the 35p – 45p consolidation range they have been in for the bulk of the past year. 20,000 bopd is nothing to be sniffed at.

Panther Metals (PALM) the company focused on mineral exploration in Canada, is pleased to note the Panther Metals Ltd ASX announcement that a second drilling campaign seeking to grow the current 70.6Mt Inferred Mineral Resource at the Coglia Nickel-Cobalt Project in the Eastern Goldfields region of Western Australia is due to commence shortly. PALM said with this Resource growth focussed drilling programme Panther Australia to further unlock the world-class battery metals potential of Coglia.  Further High-Pressure Acid Leach metallurgical testwork will also be undertaken on material from the target areas, as well as assessing alternative processing routes such as Heap Leaching.

Comment: One would say that the market is still not fully cognizant of the way that PALM is actually big in Australia as well as Canada. At a time when battery metals are all the rage, Coglia could yet turn out to be the jewel in the crown at Panther.

Disclaimer:

Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written or said here.

 

Zak Mir

Zak Mir

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