ASCENT RESOURCES (LON:AST)
SECTOR – OIL & GAS
RATING – BUY*
MARKET CAP – £32m
CURRENT PRICE – 1.75p#
TARGET PRICE – 4.3p
COMPANY DESCRIPTION
Ascent Resources is a gas production company that is ramping up production levels at its 75%-owned Petišovci Gas Project, located in Slovenia.
Preparing the second well at Petišovci
NORTHLAND VIEW
The downhole preparations of Ascent Resources second well at the Petišovci Gas Project, located in Slavonia, are expected to be completed in seven days. Following this the Company will begin construction of the short flowline to connect the well to the central processing facility.
The Company is also refurbishing the central processing plant and connecting it to the to the export line at MRS Lendava, the land acquired by Ascent from Trameta in July 2016.
INA, is completing the re-certification of its pipeline in time to receive Petišovci gas.
Ascent Resources remains on track and on budget to commence the supply of untreated gas to INA in the coming weeks from its 75%-owned Petišovci Project. The Company has already successfully recompleted its first well, Pg-10 and once Pg-11a is up and running we expect these two wells to form a solid production base that the Company can build on once it receives the award of its Integrated Pollution Prevention and Control (IPPC) permit.
PREMIER AFRICAN MINERALS (LON:PREM)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £23m
CURRENT PRICE – 0.53p#
COMPANY DESCRIPTION
Premier African Minerals is a multi-commodity exploration and development company with assets located across Africa. Its principal asset is a 49% operator interest in the RHA Tungsten Mine located in Zimbabwe. It has also recently acquired a Limestone and Forestry business located in Mozambique.
Maiden mineral resource estimate at Zulu Lithium and Tantalum Project
NORTHLAND VIEW
Premier African Minerals has completed its maiden SAMREC compliant mineral resource estimate at its Zulu Lithium and Tantalum Project , located in Zimbabwe
The Inferred Mineral Resource Estimate totals 20.1mt at 1.06% Li2O and 51ppm Ta2O5 using a cut-off grade of 0.5% Li2O, containing 526,000t of Lithium Carbonate Equivalent and 1,025t of Tantalum Pentoxide.
Positive news for Premier African Minerals which establishes a significant resource base at the Zulu Lithium and Tantalum Project that currently only covers around 35% of the defined 3.5km strike of mineralisation. The deposit remains open at depth, as well as, along strike and the company is planning a follow up drill programme in the coming months targeting an conceptual 60-80mt.