Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) earned a repeat 'Buy' rating and a price target of C$52 from Canaccord Genuity (TSX:CF, LSE:CF) after multiple first-quarter metrics for the miner came in ahead of the firm’s own estimates.
The firm’s adjusted earnings per share of $0.49 beat Canaccord’s projection of $0.42, and its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $407 million easily topped Canaccord’s estimate of $338 million.
Pan African Resources said exploration drilling at its Barberton complex in South Africa had intersected additional high-grade down-dip extensions at the Fairview, Sheba and Consort Mines.
A total of 68 underground diamond core boreholes were drilled, approximately 7,000 metres of drilling, with one intersection at Sheba showing gold grades of 184g/t over 0.85m.
Caerus Mineral Resources PLC (LSE:CMRS) said its chief executive and chairman are to stand down.
Martyn Churchouse will be succeeded on 16 May as the chief executive officer by Charles Long, a mining specialist with stockbroking, management and business development experience in the extractive industries and financial services sectors.
NetScientific PLC (AIM:NSCI) said it is acquiring a 30% stake in former investee company Vortex Biotech in a non-cash transaction.
It has conditionally agreed to buy the stake in Vortex Biotech Holdings, an Anglo-American technology group that specialises in circulating tumour cell capture and analysis, which provides doctors and scientists with insights into the prevalence and development of cancers as well as guiding potential treatments.
Powerhouse Energy Group said that it expects to release the results of a review of the business by its new chief executive and a strategic plan around the time of AGM in July.
Paul Drennan-Durose, the new CEO, has been working closely with partner Peel NRE on the Protos waste-to-energy plant project, Powerhouse said in a statement.
ADM Energy PLC (AIM:ADME, ETR:P4JC) updated investors on legal proceedings in relation to the Barracuda oil field, in Nigeria, telling investors that an interlocutory injunction has been granted which restrains Noble Hill-Network Limited (NHNL) from selling, disposing, divesting or tampering with a 70% shareholding interest in K.O.N.H. (UK) Ltd. At the same time, ADM said that the court has further adjourned until June 30.
Blencowe Resources PLC (LSE:BRES), in a statement, announced it will host an investor evening on Thursday 12 May 2022 in the City of London.