December 2022 saw the mining royalty and streaming sector continue the positive movement experienced in October and November, with the average share price marginally rising 1.4%, and 48% of the sector experiencing positive share price movements.
The Mid-Tiers were the best performing subset of the sector during December, up 4.7%. The Juniors and Large-Tiers also finished the month slightly up, 1.7% and 0.5%, respectively. The Majors were the only subset to see the average share price fall in December, down 2.0%.
UBS analysts have been digesting Shell’s trading update today which it described as mixed against its expectations.
On the positive side, Shell flagged that Integrated Gas trading is expected to be significantly higher quarter on quarter with the comments suggesting the performance could have been better than UBS expected in the fourth quarter.
Red Rock Resources PLC (AIM:RRR) has announced results from a second batch of samples taken from 2022 reverse circulation (RC) drilling at the Bilbale project in Burkina Faso.
The small-cap exploration company, in a statement, told investors that its subsidiary Faso Greenstone Resources (FGR) had now received results from 380 samples, from 3 RC holes spanning 358 metres, which were situated at an artisanal mining site.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said it has completed the acquisition of Bilboes Gold Limited, the parent company which owns, through a subsidiary, the Bilboes gold project in Zimbabwe.
Commenting on the news in a statement, Mark Learmonth, the company's chief executive officer, said: "Completion of the transaction is the cornerstone in Caledonia's strategy to create a mid-tier, multi-asset gold producer focussed on Zimbabwe.
Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) said it has signed up contractors to plan and execute engineering and procurement of the solvent extraction and electrowinning (SX-EW) plant at its BKM copper project.
An agreement has been made with BGRIMM Technology Group, a Chinese state-owned provider of engineering, procurement and construction services for the mining sector, to precisely design the equipment packages for which cost estimates have already been made in the upcoming feasibility study (FS) update for BKM, as well as providing a detailed cost estimate for the construction of the SX-EW processing plant.
Rolls-Royce Holdings PLC (LSE:RR.), easyJet PLC (LSE:EZJ) and International Consolidated Airlines Group SA (LSE:IAG) were the top London-listed shares held by UK-based eToro users at the end of 2022.
The top six stocks for the UK investors on the online platform, where the average age of its clients is 34, were all US-listed tech or ‘meme’ stocks.
Glencore PLC (LSE:GLEN) shares offer future growth and the prospect of improved ESG standards, despite a weak start to the year driven by warm weather and coal falling out of favour in Europe, said Credit Suisse.
The FTSE 100 commodities trading and mining giant has "significant copper exposure” that provides an opportunity for long term growth, analysts at the investment bank said, while it could be a potential “ESG improver in the medium term”.
CleanTech Lithium PLC (AIM:CTL) has told investors that its new scoping study into the proposed Laguna Verde mine, in Chile, has added confidence into what is expected to be robust economics for the project.
The company, in a statement, said that the study has confirmed the project's strong economics and environmental, social, and governance (ESG) credentials.
Great Western Mining Corporation PLC (AIM:GWMO) has laid out its plans and targets for the coming months, including the expected commissioning of a production mill in Nevada for its Western Milling joint venture in the first half of the year.
However, the company noted that production can only begin after the receipt of a permit from the Nevada Department of Environmental Protection (NDEP), with which a meeting is scheduled for mid-January to review plans and incorporate any modifications required by the NDEP.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) said David Jarvis has been appointed as the new general manager of the company's Idaho-registered operating subsidiary, Konnex Resources Inc, replacing Zach Black.
Jarvis has 40 years of project management and mine operation experience, including as managing director for Eldorado Gold's operations in China and vice president/general manager for Coeur Mexicana, the US-focused base and precious metals emerging producer said.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:)'s board has voted to expand from five to seven directors.
Accordingly, the company has added two new directors, effective from January 3 – Christina Alvord and Michael Bless – who will provide additional executive, operational and strategic guidance to the company as it advances in its mission to supply the US with lithium hydroxide from a global portfolio of projects.
Oil and coal prices should continue to climb in 2023, given recovering demand in China and emerging markets across the globe, according to UBS.
With front-month Brent crude futures currently around US$80 a barrel, the price is forecast by the Swiss investment bank to rise above US$100 in coming months and stand around US$110 at mid-year and year end.
Corcel PLC (LSE:CRCL) saw its shares soar on Wednesday after the battery metals explorer and developer announced a farm-out and joint venture agreement for its recently acquired rare earth elements project at Mt Weld in Laverton, Australia with Riversgold Ltd (ASX:RGL).
Under the deal, Corcel will receive an immediate cash payment of A$30,000. Meanwhile, Riversgold will earn a 50% interest in the project through paying 100% of the work programme, spending A$500,000 over a 12-month period.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) reported assay results from the fourth and fifth metallurgical core holes at its Empire open pit copper project in Idaho, USA.
The drilling was part of an exploration programme that began last June designed to collect material from each of the metallurgical domains, to evaluate the metallurgical variability within the open pit, while improving the understanding of the geologic and structural controls on mineralisation, the company stated.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:), which develops lithium resources critical to the US electric vehicle (EV) supply chain, has amended its agreement with Tesla Inc (NASDAQ:TSLA) to supply the US automaker with spodumene concentrate (SC6) from North American Lithium (NAL).
The two companies have agreed to amend their previous offtake agreement with the terms of this new agreement, which are binding for a three-year term and include an option to renew for another three years.
GreenX Metals Ltd (LSE:GRX, ASX:GRX), which is progressing an arctic copper project in Greenland, saw its share price spike 25% higher on Tuesday alongside a statement acknowledging a ‘price query’ from the Australian Securities Exchange.
It said, in a brief statement, that it “is not aware of any information that has not been announced which, if known, could be an explanation for recent trading in the securities of the company”, though at the same time, said that it notes “recent media reports published in Poland relating to the company’s international arbitration claims against the Republic of Poland.”
ECR Minerals PLC (AIM:ECR), the exploration and development company focused on gold in Australia, said it has received approval for two new exploration tenements in Victoria, Australia.
The company said one of the new tenements, EL007296, completes the total exploration package at Bailieston, Victoria.
MetalNRG PLC (LSE:MNRG) said former director Mr Rocco has dropped his legal proceedings against the company and its directors.
On 23 December, before the deadline to file evidence to support his unfair prejudice petition, Rocco discontinued his claim.