SECTOR: MINING
CONNEMARA MINING COMPANY (LON:CON)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £3.2m
CURRENT PRICE – 2.9p#
ANALYST – DR RYAN D. LONG
Year-end Dec
2016A
2017A
Revenue (€m)
-
-
No forecasts provided
EBITDA (€m)
0.2
0.2
Adj. pre-tax Profit (€m)
0.2
0.2
Adj. EPS (c)
0.29
0.27
DPS (c)
-
-
Net Cash/(Debt) (€m)
(0.3)
(0.5)
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Nomad and Broker to Connemara Mining and therefore this information should be viewed as a Marketing Communication.
OLDCASTLE ZINC PROJECT UPDATE
NORTHLAND VIEW
- Connemara Mining provided an update on the Oldcastle Zinc Project, located in Ireland, which is a joint venture with Teck Ireland (65%).
- Work by Teck demonstrates the presence of a hydrothermal system and basin-bounding fault.
- Teck is planning to complete around 1,800m of drilling, in two-to-three holes, at the Springhall Prospect.
It is positive to see work re-commencing at the Oldcastle Zinc Project. Connemara Mining is free-carried for this phase of work, with Teck Ireland required to spend an additional €400,000 to take its interest up to 75%. The drilling is focusing on the potential of the Pale Beds, located in the vicinity of an interpreted fault system that could contain a similar style of mineralisation to that at Navan.
COMPANY DESCRIPTION
An Irish focused exploration company with interests in gold and zinc-lead projects.
SUNRISE RESOURCES (LON:SRES)
SECTOR – MINING
RATING – CORP*
MARKET CAP – £3.1m
CURRENT PRICE – 0.15p#
ANALYST – DR RYAN D. LONG
Year-end Sept
2016A
2017A
Revenue (£m)
-
-
No forecasts provided
EBITDA (£m)
(0.4)
(0.3)
Adj. pre-tax Profit (£m)
(0.4)
(0.3)
Adj. EPS (p)
(0.04)
(0.02)
DPS (p)
-
-
Net Cash/(Debt) (£m)
0.05
0.12
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited Acts as Nomad and Joint Broker to Sunrise Resources and therefore this information should be viewed as a Marketing Communication.
CS POZZOLAN-PERLITE PROJECT UPDATE
NORTHLAND VIEW
- Permitting studies are on track with the season-dependent baseline studies completed.
- The environmental consultants advise that no obstacles to the proposed mine were identified, though the final assessment rests with the regulatory authorities.
- Continued positive results from the pozzolan test work with perlite test work demonstrating multiple applications for different zones of perlite.
- Discussions and negotiations are continuing with potential customers, samples provided have been provided for customer test work.
Sunrise Resources continues to advance the CS Pozzolan-Perlite Project with permitting moving forward and ongoing test work providing positive results. The additional test work results should be useful as the Company continues to advance its discussions with potential customers.
COMPANY DESCRIPTION
Sunrise Resources is an exploration company focused on its 100%-owned CS Pozzolan-Perlite Project, located in Nevada