Weekly Brief 14th May

Spring seems to have taken a very literal rain-check as we reluctantly bring back out our optimistically packed away winter coats.

But in a few days the weather will no longer dictate our plans as the next phase of lockdown begins this Monday with indoor spaces opening their doors – no longer do we need to pack a just-in-case blanket to go out for dinner! Although nature has somewhat failed us over the last few days with some grey weather, this week marks Mental Health Awareness Week whose theme for this year is dedicated to nature. Hosted by the Mental Health Foundation, the UK’s largest mental health charity, it is focused on the prevention of mental health problems and the promotion of good mental health for all. This last year in particular mental health has become an increasingly open topic of discussion as the pandemic has not only had physical effects to our health, but has had a wider impact on our mental health. From the strain of being in lockdown, the change to our routines, and the many other ways it has affected us, this past year has placed mental health in the foreground. This year’s theme of nature was a fitting choice based on the role it has played during the months of lockdown as one of the only freedoms we have been continuously allowed. Research has showed that walks outside has been one of the top coping strategies and 45% of people reported that being in green spaces has been vital for mental health, and even websites with wildlife webcams saw a 2000% increase in hits. It is evident that it has a fundamental connection to our wellbeing; so as nature eases into spring, we too are slowly regaining our warmth and brightness as we find our way out of lockdown – each at our own pace.

Client News: 

Trident Royalties Plc (AIM: TRR) noted significant asset-level progress by the operators of several projects over which it holds royalties. Lithium Americas has achieved key milestones at Thacker Pass in its first quarter results. These include the results of a Feasibility Study expected by year end, targeting an increased initial 30,000-35,000kt p.a lithium carbonate equivalent, and advancing the engineering of a 20,000k/t p.a lithium conversion plant in order to meet customer and partner needs. Further encouraging exploration, step-out and infill drilling results at Lake Rebecca Gold have been reported by Apollo Consolidated, returning a new gold mineralization and providing possible further royalty upside when put into production as these results show the potential for resource growth. Finally, Torque Metals Limited has published a prospectus regarding a listing on the Australian Stock Exchange and will undertake a capital raise of which a portion of funds will be used to progress the evaluation and exploration of the Bullfinch Gold Project. One of the key advantages of Trident’s royalty model is benefitting from the upside from positive progress at its underlying assets without exposure to dilution and costs.

Additionally, Trident’s CEO Adam Davidson and CFO Martin Page will provide a live presentation via the Investor Meet Company platform on 26 May 2021 at 5pm BST. Sign up to register.

Contango Holdings Plc (AIM: CGO) reported progress relating to the discussions with the previously announced potential offtake partner for the Lubu Coking Coal Project, a subsidiary of one of the world’s largest stainless steel producers. A productive recent site visit took place with senior members of the potential offtake partner as discussions continue to progress well. An agreement has now been reached on the next steps to advance Lubu as Contango focuses on extracting bulk samples of the high value coking and metallurgical coals found at Lubu, which are of particular interest to the potential offtake partner, to then be transferred to its plant for testwork. With a clear path reached to enable the formal offtake agreements to be entered into, Contango are confident of the positive results from the testwork and look forward to a positive outcome due to the clear synergies between the two companies.

You may have missed… 

Emmerson Plc (AIM: EML) CEO Graham Clarke spoke on the Dig Deep Mining Podcast on the important role of potash in the fertilizer industry & the wider mining industry.

Trident Royalties Plc (AIM: TRR) CEO Adam Davidson spoke with Stockbox on the company’s Q1 progress and the commodities supercycle. Additionally, Trident was covered in the Financial Mail’s Sunday Midas column.

In the news this week… 

As renters return to city centers post-pandemic, London is reaching record affordability levels.

Dutch couple has become Europe’s first inhabitants of a 3-D printed house.

Pandora switches to lab-grown diamonds.

Animals are to be formally recognised as sentient beings under UK law – leading to a total ban on hunting trophies, ban on ivory, and a total ban on shark fins.

A juvenile minke whale became stuck in the Thames earlier this week.

Find out more about Mental Health Awareness Week.

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