Premier African Minerals (LON:PREM) – CORP: Zulu drilling update
Market Cap: £9.4m; Current Price: 0.5p
First drill hole intersects visible lithium mineralisation, assays pending
First diamond hole (ZDD-14) has intersected 9.5m of visible spodumene-petalite lithium mineralisation from a depth of 10.5m. This hole is located 200m from the surface bulk sample that has a reported grade of 1.55% Li2O.
NORTHLAND CAPITAL PARTNERS VIEW: The drill core will now be transported to Premier African Minerals’ in-house sample preparation facilities for logging splitting and then sent to SGS South Arica for multi-element analysis.
Ascent Resources (LON:AST) – CORP: Interim results
Market Cap: £9m; Current Price: 1.25p
From yesterday: LBT reduces and appointment of Joint Broker
LBT reduced to £1.3m in H116 from £2.7m in H115, largely due to a substantial reduction in administrative expenses.
Net debt totalled £9.3m in H116 reduced from £13.1m in H115.
Ascent appoints Northland Capital Partners as Joint Broker.
NORTHLAND CAPITAL PARTNERS VIEW: Ascent Resources is a gas development company that is focused on moving the Petišovci project, located in Slovenia, to commercial production in early-2017. Ascent has a gas sales agreement signed with INA-Industrija Nafte d.d. that provided the Company a confirmed route to market, independent of the IPPC Permit. Following the acquisition of Trameta, Ascent also has the rights over the first section of the Slovenian pipeline, required to transport the gas. Over the Company months Ascent will be focused on completing a short pipeline that connects the export pipeline to the pipeline from the existing gas separation plant (CPP), the refurbishment of the CPP and working over the existing wells to ready them for production. The first test of production is targeted for Q416 with commercial production in Q117.
Clontarf Energy (LON:CLON) – CORP: Placing
Market Cap: £3m; Current Price: 0.65p
Raises £400,000 to fund ongoing negotiations in Ghana
Clontarf Energy has raised £400,000 through the issue of 80,000,000 shares at a price of 5p per share.
The placing shares represent 14.97% of the Company’s enlarged issued share capital.
Following the placing the Company will have 534,225,781 shares in issue.
NORTHLAND CAPITAL PARTNERS VIEW: Clontarf Energy will be using the funds raised from this placing to fund any costs associated with the ongoing negotiations regarding the Company’s Ghanaian assets and will also provide it with additional working capital.