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Northland Capital Partners View on the City - Savannah Resources; Clontarf Energy

Published: 09:26 21 Sep 2018 BST

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SAVANNAH RESOURCES (LON:SAV)

SECTOR – MINING

RATING – CORP*

MARKET CAP – £66m

CURRENT PRICE – 7.7p#

ANALYST – DR RYAN LONG

 

Year-end Dec

2016A

2017A

 

 

 

Revenue (£m)

-

-

No forecasts provided

EBITDA (£m)

(1.8)

(2.8)

Adj. pre-tax Profit (£m)

(1.8)

(2.8)

Adj. EPS (p)

(0.46)

(0.53)

DPS (p)

-

-

Net Cash/(Debt) (£m)

0.7

1.2

P/E (x)

-

-

Dividend yield (%)

-

-

EV/EBITDA (x)

-

-

 

SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Nomad and provides commissioned research coverage to Savannah Resources and therefore this information should be viewed as a Marketing Communication.

 

Mozambique update and interim results

 

NORTHLAND VIEW

  • Savannah Resources has submitted an additional Mining Lease application in Mozambique over an area of 119km2, which covers a defined Heavy Mineral Sands Mineral Resource Estimate of 65Mt. This area is contiguous to two pending Rio Tinto Mining Lease applications.

  • Interim results: LBT in H118 totalled £1.2m down from £1.5m in H117, due to a decrease in administrative expenses. Net debt in H118 totalled £0.4m compared to net cash of £0.4m in H117.

In the first half of 2018 Savannah Resources made large strides forward as it substantially increased the size of the Mina do Barroso Lithium Deposit and completed the initial Scoping Study at the Project. The Company is now well funded, following its £12.5m equity financing in July, to carry out a Feasibility Study and potentially further Mineral Resource Estimate upgrades at Mina do Barroso, where drilling continues. At the Mutamba Heavy Mineral Sands Project, three mining lease applications have now been submitted and the scoping phase of the Pre-Feasibility Study is underway. In Oman, the Company has commenced drilling at the Bayda and Hara Kilab Copper Targets with the aim of defining additional tonnes for mining.

 

COMPANY DESCRIPTION

Savannah Resources is an energy metals group with copper-gold projects located in Oman, lithium projects in Portugal, and a operates a mineral sands project in Mozambique that is a JV with Rio Tinto

 

 

 

Clontarf Energy (LON:CLON)

SECTOR – OIL & GAS

RATING – CORP*

MARKET CAP – £2.4m

CURRENT PRICE – 0.41p

ANALYST – DR RYAN D. LONG

 

 

Year-end Dec

2016A

2017A

 

 

 

Revenue (£m)

-

-

No forecasts provided

EBITDA (£m)

(0.2)

(2.8)

Adj. pre-tax Profit (£m)

(0.2)

(2.8)

Adj. EPS (p)

(0.04)

(0.48)

DPS (p)

-

-

Net Cash/(Debt) (£m)

(0.3)

(0.6)

P/E (x)

-

-

Dividend yield (%)

-

-

EV/EBITDA (x)

-

-

 

SOURCE: Northland Capital Partners Limited estimates. #Priced at previous day market close *Northland Capital Partners Limited acts as Nomad and Broker to Clontarf Energy and therefore this information should be viewed as a Marketing Communication.

 

From yesterday: Lithium Prospecting in Bolivia & Placing

 

NORTHLAND VIEW

  • Clontarf Energy has submitted a proposal to the Bolivian National Lithium Company (YBL) regarding a potential joint venture to explore one of the world’s largest lithium bearing salt-lakes in Bolivia.

  • The Company also raised £500,000 through the issue of 135,135,135 shares at a price of 0.37p.

  • Following the issue of new shares the Company will have 716,979,964.

 

While there is no guarantee that this proposal would lead to a binding agreement, it is positive to see Clontarf Energy increasing its activity and potentially re-establishing its presence in Bolivia. The placing will be used to fund the ongoing negotiations regarding the Company's Ghanaian assets and will also provide the Company with additional working capital.

 

COMPANY DESCRIPTION

Clontarf Energy is an Oil & Gas Exploration Company with a 3% royalty in Peruvian Block 183 and a 60% interest in the Tano 2A Block located in offshore Ghana.

 

 

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