Today's edition features:
• Premier African Minerals (LON:PREM)
• URU Metals (LON:URU)
Markets
Europe
The FTSE-100 finished yesterday's session 1.14% lower at 7,295.39 whilst the FTSE AIM All-Share index was down 0.46% at 1,000.24. In continental Europe, the CAC-40 finished 0.15% higher at 5,225.20 whilst the DAX was down 0.10% at 12,540.45.
Wall Street
In New York last night, the Dow Jones rose 0.2% to 22,203.48, while the S&P-500 ended 0.11% weaker at 2,495.62 and the Nasdaq shed 0.48% to stand at 6,429.08.
Asia
In Asian markets this morning, the Nikkei 225 was recently up 0.51% at 19,907.47 and the Hang Seng was 0.25% higher at 27,846.15.
Oil
In early trade today, WTI crude was 0.24% lower at $49.77 per barrel and Brent was down 0.31% at $55.3 per barrel.
Headlines
Top China Bitcoin exchange to stop trading
One of China's biggest Bitcoin exchanges has said it will stop trading, after a government warning over virtual currencies. BTCC said it would stop buying and selling on 30 September in response to tightening regulation. It comes after authorities banned initial coin offerings on 5 September. The country has seen an explosion of digital currency trading, sparking fears about the financial risks and speculative investing. The price of Bitcoin tumbled sharply following the BTCC announcement late on Thursday but has since regained some ground.
Source: BBC News
Latest Video
On Wednesday, 13th September 2017 Jon Forster, CEO of Cora Gold answered questions posed by private investors at the Beaufort offices ahead of the company's planned IPO on AIM later this month. Click here to see the interview.
Beaufort Securities is acting as corporate broker to the Cora Gold IPO
Company news
Premier African Minerals (LON:PREM, 0.42p) – Speculative Buy
Premier African Minerals, the South and Western Africa focused mineral explorer and developer, announced today an update on the underground mineral resource estimate for its 49% owned RHA tungsten mine in Zimbabwe. The Company reports a 32% increase in the Measured category of 29kt grading 5.45kg/t WO3 and a 33% increase in the Indicated category of 76kt grading 6.31kg/t WO3. Overall, the resource estimate increased 11% to 1.33Mt with an average grade of 4.72kg/t WO3 and 6.3Mkg of contained tungsten.
Our View: The increase in grade and tonnage at RHA, particularly in the Measured and Indicated categories is encouraging as these provide higher confidence of the overall mineral resource estimate. The above announcement coincides with the recent surge in tungsten prices from c.220/mtu to c.310/mtu as China looks to control its domestic production. We look forward to further updates at RHA including a review of the openpittable resources. In the meantime, we maintain a Speculative Buy rating on the stock.
Beaufort Securities acts as corporate broker to Premier African Minerals plc
URU Metals (LON:URU, 1.28p) – Speculative Buy
URU Metals announced yesterday drill results from its Zebediela nickel project located in the Limpopo, South Africa. Drill hole Z019 returned 9m with a combined average grade of 1.97g/t platinum, palladium, rhodium and gold (3 PGE + Au) and an second intercept returned 1.8m grading (1.6g/t 3 PGE + Au). A total of three holes have now drilled at Zebediela, a world class nickel sulphide project, nickel and copper assays together with metallurgical test work results are still pending and are expected shortly.
Our View: The above drill results are encouraging but not surprising given that Zebediela is located near major PGE mines in the area like Platreef (Ivanhoe Mines) and Mogalakwena (Amplats). We look forward to the nickel and copper assays as well as results from the metallurgical test work. In the meantime, we maintain a Speculative Buy recommendation on the stock.
Beaufort Securities acts as a corporate broker to URU Metals Limited