Savannah Resources (LON:SAV) – CORP: Oman Copper Project update
Market Cap: £24m; Current Price: 4.9p
To commence mining before the end of the year
Savannah Resources has lodged Environmental Impact Assessment (EIA) scoping documents for Mahab 4 mine development with the full EIA to be lodged in April. Both the scoping EIA and full EIA for the Maqail South mine development have been lodged.
Eight Ministerial approvals are required for the grant of the mining licences, to date four have been signed-off for each of the Mahab and Maqail South deposits.
The licencing process and mining studies continue to advance with a final investment decision expected in late 2017. Savannah continues to target the commencement of mining by the end of the year.
NORTHLAND CAPITAL PARTNERS VIEW: Savannah Resources is continuing its rapid development of its Oman Copper Projects and is expecting to commence mining before the end of the year. This would be a huge achievement for the Company that only acquired the projects three years ago. The Company is currently assessing a number of turn-key solutions for processing the ore.
Edenville Energy (LON:EDL) – CORP: Rukwa Update
Market Cap: £8.9m; Current Price: 0.8p
Ground works ramping up ahead of plant installation
Several hundred tonnes of coal mined, crushed and sold. Edenville intends to provide the same customer with larger, longer-term sales once the main plant is delivered to site.
Wash plant and crusher acquisition completed, shipping to occur in mid-April.
Generators and other equipment in the process of being acquired and packed.
Additional earthworks are underway for the plant to provide additional access roads for the trucks.
NORTHLAND CAPITAL PARTNERS VIEW: Edenville Energy expects to be able to market a fully processed coal product in Q217, once the wash plant and new crusher is installed. This year will be a transformational year for the Company as it moves from explorer to producer.
Keras Resources (LON:KRS) – CORP: Application for Cobalt and Nickel Licences
Market Cap: £7m; Current Price: 0.4p
Five licence applied for over known Co-Ni mineralisation
Keras Resources has submitted five exploration licence applications for over 1,000km2 in a West Africa that cover a previous discovery of cobalt-nickel mineralisation.
Average rock chips taken from the mineralisation returned grades of 0.82% Ni and 0.19% Co, with highs of 1.4% Ni and 0.25% Ni. This equates to a 4.5g/t gold equivalent grade based on current metal prices.
Cobalt prices have increased 100% in the past six months and the supply and demand fundamentals are reported by several experts to be supporting continuing positive price movement.
The Company expects the grant of the exploration licence to be complete in Q217.
NORTHLAND CAPITAL PARTNERS VIEW: Positive news for Keras Resources as the Company looks to capitalise on the excitement that surrounds the potential growth of the battery industry by developing a cobalt-nickel project alongside its manganese project, located in Togo. Both Cobalt and manganese are believed to be important components of a variety of types of battery.
Feedback plc (LON:FDBK) – CORP*: Trading update and new LOI
Market Cap: £3.6m; Current Price: 1.6p
LOI signed with leading global medical imaging company and positive trading update
Feedback plc announced that its subsidiary company, Cambridge Computed Imaging Ltd (CCI), has signed a Letter of Intent with a leading global medical imaging company which would make TexRAD Lung available for purchase on its diagnostic imaging solutions platform.
This would, in due course, enable easy access to TexRAD Lung for hundreds of potential users around the world on a subscription basis.
Feedback also announced that new purchase orders for the well-established TexRAD research version are continuing at a good rate ahead of the impending release of the first clinical version.
The Company has had keen interest from India, the US and the UK, and sees further significant opportunities in China and South Korea.
TexRAD-related revenue in the second half of the financial year is expected to be substantially ahead of that reported for the first half and the Company is on track to report increased revenue for the financial year as a whole.
Finally, Feedback aims to obtain a CE mark for TexRAD Lung by the target date of May 2017.
A CE mark would allow the sale of TexRAD Lung in the EU and certain other markets as a medical device which provides analysis of PET/CT images for clinical use.
NORTHLAND CAPITAL PARTNERS VIEW: A very positive trading statement by Feedback: the group expects to report strong figures in H2. Moreover, interest in TexRAD is growing internationally. Also, today’s LOI agreement could lead to a rapid roll out of TexRAD Lung in due course. Finally, receiving a CE mark (expected in May), would represent a major milestone for the business.