The first proper whisperings of summertime are in the air this week with full sunshine ahead, bright blue skies, and temperatures that can only be tolerated sat in a garden with an ice cream in hand. This week also saw the world celebrate Ocean Day on June 8th, an event organised by the UN aimed at celebrating the ocean whilst also raising awareness and informing on the need to protect it. The ocean covers over 70% of our planet, produces a minimum of 50% of the planet’s oxygen, and most of the earth’s biodiversity calls it home. Not only is it crucial to the environment but it is also key to the economy, with an expected 40 million people to be employed by ocean-based industries by 2030, and it produces the main source of protein for over a billion people. Despite its importance, 90% of big fish populations have been depleted and 50% of its coral reefs have been destroyed, not to mention the harmful levels of pollution and waste in the oceans. This year’s theme of “The Ocean: Life and Livelihoods”, highlights how the ocean is our planet’s life source in the lead up to the UN’s Decade of Ocean Science of Sustainable Development, which begins this year. People around the world are already mobilising to protect our oceans and their future, from organising beach clean-ups to eating fish more consciously or giving it up all together, and even governments are making conservation efforts: the UK Government marked Oceans Day by setting out an international target that has been signed by 80 countries to protect at least 30% of the world’s ocean by 2030. Although we as humans have taken the ocean for granted and we are now seeing the consequences of our actions, our collective efforts can protect it and restore it to health – and in return, it will support us too. There is of course still hope for the planet’s future, as attested by Sir David Attenborough in his UN address: “The ocean’s power of regeneration is remarkable – if we just offer it the chance”.
Trident Royalties Plc (AIM: TRR) announced that all resolutions proposed to shareholders at the Company’s AGM held were duly passed by way of a poll.
Additionally, the company noted that Moxico Resources, the operator of Trident’s key asset Mimbula Copper Royalty, recently completed a US$73 million equity financing. The proceeds will be used to fast track the development of a standalone processing operation at the Mimbula copper mine. CEO Adam Davidson made a statement summarising that he was pleased to see such a significant development for a key asset within Trident’s royalty portfolio.
Kibo Energy PLC (AIM: KIBO) released its consolidated annual financial results for the year ended 31 December 2020. The Company’s Annual Report also consolidated results of MAST Energy Developments Plc and Katoro Gold Plc (AIM: KAT).
Some operational highlights included the continued advancement of the development of key projects such as the Benga Power Plant Project in Mozambique. Kibo made great strides developing the Benga Project, increasing the future off take potential by more than 100% through the inclusion of the Baobab development in the Benga portfolio. A key focus area flagged up in the results was the entry into the UK’s Reserve Power Market, that has taken shape with the recent listing of MAST Energy Developments Plc on the 14 April 2021.
Kibo has taken a major step forward in the execution of the company’s renewable energy strategy by commencing an extensive due diligence process in relation to the potential acquisition of a portfolio of UK renewable energy projects. Kibo also entered into an agreement with South Africa-based Industrial Green Solutions (Pty) Ltd to jointly develop a portfolio of Waste to Energy projects in South Africa.
FastForward Innovations Ltd (AIM: FFWD) continue to be impressed with its portfolio company Little Green Pharma Ltd (‘LGP’) and have purchased a further 1,178,000 Ordinary Shares in. FFWD now has a holding representing 2.0% of LGP’s issued share capital.
Vast Resources Plc (AIM: VAST) confirmed that the Company has drawn to a close the successful conclusion to formal negotiations on a new collective bargaining agreement between the Company and its employees of its Vast Baita Plai S.A subsidiary, which operates in Romania.
Empire Metals Limited (AIM: EEE) completed the sale of its 50% holding in Georgian Copper & Gold JSC for an all-cash consideration of US$3.3 million. The company will refocus its resources and efforts on the exploration and development of its projects in the Western Australian gold sector and continue to create shareholder value principally through its Eclipse Project and Central Menzies Gold Projects.
Empire announced a virtual live presentation event set for Thursday 17th June via the Investor Meet Company platform featuring Shaun Bunn (Managing Director), Mike Struthers (Non-Executive Director) and Greg Kuenzel (Finance Director). The presentation will showcase the Company’s expanding mineralised footprint in Western Australia as Empire advances its development activities at its primary Eclipse Gold Project and begins exploration work at the Central Menzies Gold Project.
Kodal Minerals Plc (AIM: KOD) announced the positive progression of their Mining Licence application for the Bougouni Lithium Project in southern Mali. This confirmed the acceptance of the Feasibility Study for the Mining Licence application and has received the request to pay the application fee for the delivery of the Mining Licence.
Ferro Alloy Resource Group (AIM: FAR) completed the initial investment made by Vision Blue Resources, bringing the total investment to US$3.1m. Sir Mick Davis joins the board of the company as Chairman. Mr. Peet Nienbar and Mr. Chris Thomas have assumed the role of Non-Executive Directors.
Cora Gold Limited (AIM: CORA) announced a fourth set of promising drill results from its largest ever drilling campaign at the Sanankoro Gold Project in southern Mali, including 56m @ 3.54 g/t Au from 22m. Phase 1 drilling at the project’s largest deposit, Selin, has now been completed, confirming 550m of mineralised extensions to existing resources. Rigs are on site to begin drilling deeper holes shortly as part of the phase 2 programme. 163 holes have now been drilled totalling over 16,000m from the start of the campaign and remains on schedule to complete the expected 35,000m of drilling by the end of July 2021.
You may have missed…
Recently appointed Chairman of Ferro-Alloy Resources (AIM: FAR), Sir Mick Davis, spoke with Proactive on the significant of working with Vision Blue Resources.
Ed McDermott and Alfrecdo Pascual of FastForward Innovations (AIM: FFWD) spoke to Proactive on the purchase of a further 1.17m shares in its portfolio firm Little Green Pharma.
Watch Trident Royalties Plc (AIM: TRR)’s company update presented by CEO Adam Davidson and CFO Martin Page on the Investor Meet Company platform.
St Brides are back in the City! With a brand new address, we are overjoyed to say that we are meeting up again for work – and of course, a glass of wine – whilst following Covid guidelines. Drop us a line!
In the news this week…
El Salvador has become the first country to adopt Bitcoin as legal tender.
Chinese EV-maker that dominates the Chinese market, outselling the likes of Tesla, is aiming to sell 1.2 million vehicles by next year.
See the best photos from yesterday’s solar eclipse.