Share Talk LTD

Share Talk interviews Cédric Simonet, CEO of Altona Rare Earths (LON: REE), to discuss the company’s progress.

Altona Rare Earths is making significant strides in the mining sector, particularly with its Monte Muambe Rare Earth Project in Mozambique. Under the leadership of CEO Cedric Simonet, the company is not only focusing on rare earth elements but is also diversifying into other critical minerals like fluorspar and copper.

Altona’s flagship initiative is the Monte Muambe Rare Earths Project, situated in Northwest Mozambique. The company is quickly advancing a diverse portfolio of critical raw materials mining projects across Africa.

Altona has had an exciting year, primarily focused on its flagship Monte Muambe Rare Earth Project. The company has been actively working on this project since its acquisition in 2021, reached a significant milestone in 2023 with the completion of a scoping study, revealing a maiden resource of 13.6Mt at 2.42% total rare earths oxide.

Cédric highlighted the discovery of a high-grade fluorspar zone, distinct from the rare earths resource, as part of the company’s strategy to diversify and mitigate risks. The Monte Muambe Project offers a promising opportunity for the swift development of a medium-scale, low-capex fluorspar mine.

Altona’s approach to diversifying its portfolio is somewhat unique in the current market. Many companies are attempting to juggle short-term cash-generating projects alongside longer-term exploration initiatives. However, success in this area requires a wealth of experience, something Cedric brings to the table. His background in managing an open-pit fluorspar mine in France equips him with the knowledge necessary to navigate this complex landscape successfully.

Recently, Altona’s team conducted additional surveying and collected representative fluorspar samples, which are being tested in laboratories. The initial results will provide insight into the potential market interest, which is promising based on early feedback. Additionally, a small scoping study for the fluorspar project is underway, with results expected in the first quarter of next year.

Altona Rare Earths is strategically positioning itself for success in a fluctuating market. With a robust plan for the Monte Muambe Project and a promising fluorspar initiative, the company is diversifying its portfolio while mitigating risks. As they move forward with their projects, stakeholders and investors can look forward to a promising future filled with potential growth and stability. Cedric Simonet’s leadership and vision will undoubtedly play a pivotal role in shaping the company’s trajectory in the critical minerals space.

Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development corporation with a substantial land package of gold and strategic mineral assets across Southern Greenland, announces that it has successfully completed its 2024 exploration programmes across its portfolio in South Greenland.

Zak Mir spoke with Eddie Wyvill, Corporate Development of Amaroq Minerals. The company is on the verge of production. It has been a long seven-year journey, but finally, they see the light at the end of the tunnel.

Welcome to an exciting update from Amaroq, where they are on the brink of a significant milestone. Eddie Wyvill, head of corporate development, shares insights into the company’s journey and the challenges faced along the way.

After seven years of hard work, Amaroq is set to pour its first gold bar in Greenland. This moment represents the culmination of a long journey, and the excitement is palpable among the team. As Eddie puts it, “It’s the end of a seven-year journey to get there.” The company is not just talking about future production; they are ready to deliver.

The decision to move forward with production comes after significant preparation and investment. While many companies in the London market often delay actual production, Amaroq has taken concrete steps. The company has been mining since May and is currently testing equipment on site. A large shed has been erected, and the team is gearing up for the moment they can lift the first gold bar.

The Nalac mine has a rich history, having produced 350,000 ounces of gold at an impressive grade of 15 grams per ton in the past. However, it shut down in 2014 due to previous operator issues. Amaroq’s team has drilled extensively over the past six years, uncovering a resource of 320,000 ounces at an astonishing 28 grams per ton, which is among the highest resources globally.

Amaroq is moving forward with a phased approach to production. The first phase involves building a 300-ton per day plant, with expectations of producing approximately 45,000 to 50,000 ounces of gold annually. This high-grade mining operation allows for lower costs, as less rock needs to be moved compared to lower-grade mines. The company aims to achieve low all-in sustaining costs while benefiting from favorable gold prices.

Building a mine in South Greenland comes with unique challenges, including logistical hurdles and the need for precise planning. Eddie emphasizes the importance of being prepared for potential issues, given the remote location of the mine. The team has learned to stockpile essential parts and equipment to avoid delays.

Several factors have contributed to Amarok’s progress:

High-Grade Ore: The mine’s high-grade ore allows for better recovery rates and lower costs.

Existing Infrastructure: The Nalac mine has existing underground infrastructure, saving significant costs and time in development.

Strong Management Team: Eddie and his team bring extensive experience to the project, crucial for navigating the complexities of mining in remote locations.

Regulatory Environment: Operating in Greenland, a Danish sovereign country with a robust mining code, has facilitated a smoother permitting process compared to other regions.

As Amaroq prepares to ramp up production, the team remains focused on maintaining efficiency and managing costs. They are optimistic about the future, knowing that successful production could lead to substantial free cash flow and increased valuations in the gold mining sector.

Eddie acknowledges the pressures of meeting investor expectations and the challenges of operating in a demanding environment. However, he remains confident in the team’s ability to deliver results. As they look to the future, Amaroq is not just focused on gold production; they are also exploring new opportunities in the region, with plans for further exploration and development.

Stay tuned for updates as Amaroq moves closer to its production goals and continues to explore the rich geological potential of Greenland.

Amaroq Minerals’ principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company’s principal asset is a 100% interest in the past producing Nalunaq Gold mine which is due to go into production towards the end of 2024. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq Minerals is continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

https://www.share-talk.com/zak-mir-talking-to-eddie-wyvill-head-of-corporate-development-amaroq-minerals-ltd/

Zak Mir interviewed Mendell Helium CEO Nick Tulloch regarding M3Helium's new farm-in agreement with Scout Energy to advance helium resource development in Kansas' Hugoton Gas Field.

Mendell Helium announced that M3 Helium Corp. has signed an exclusive farm-in and fixed-price helium agreement with Scout Energy Partners over 161,280 acres of the Hugoton gas field (“Leases”), one of North America's largest natural gas fields.

Under M3 Helium’s agreement, the company can drill up to 200 wells across 160,000 acres in Kansas' Hugoton Gas Field, with an initial commitment to drill at least 25 wells by March 2026.

This farm-in with Scout Energy represents a ‘win-win scenario’ for both firms. M3 Helium is now able to test and develop helium-rich resources across a seven-township area (about 160,000 acres) on the Hugoton Gas Field and tap into infrastructure whose potential has already been established.

A cornerstone of the farm-in agreement is that M3 Helium agreed to drill 25 wells by March 2026 with the option to drill up to 200 wells by the end of agreement. Based on this timeframe, the wells would be drilled in a way to maximise helium production. Additionally, M3 Helium will have the exclusive right to have its wells exit into Scout Energy’s gathering system, which represents a considerable advantage since the infrastructure is already in place.

The key to the agreement is exclusivity awarded to M3 Helium to utilise Scout Energy’s gathering system. With this system, M3 Helium can sidestep many of the costs involved with helium transport and processing. The gathering system provides a direct pipeline to market for M3 Helium, which means it can avoid many of the ugly delays that come with trying to build new infrastructure.

Also, the existing pipeline infrastructure and the nearby proximity of wells to those pipelines help streamline the process. With M3 Helium’s drilling efforts connected to Scout’s infrastructure, the logistical considerations are minimised, and the potential for extracting helium is maximised.

The Hugoton Gas Field is one of the oldest and the largest natural gas fields in the United States and has a long productive history spanning more than 90 years. The location also happens to be a very well known source of helium, which is one of the main reasons why M3 Helium has located their operations there. The reason the Hugoton Gas Field is so abundant in helium is because the geology of the field promotes the presence of helium. Helium is often found with natural gas, which is the main product of the Hugoton Gas Field.

Since thousands of wells have already been drilled in the field, they have a production history that will inform the drilling of the new wells: ‘We will know where to go and what to expect.’ This production history can help determine the optimal amount of permits – and where to drill them – to maximise production while minimising their costs and the associated risk of exploratory activities.

The financial implications of the farm-in agreement are sizable. M3 Helium stands to benefit from cheaper operating costs because of the access to Scout’s infrastructure. The two-stage arrangement lets M3 Helium drill wells on Scout property at a fraction of the value of a regular lease – word on the street is around $50 per acre. All told, that adds up to about $8 million in total, a fraction of the cost it would be to secure such real estate in the open market.

This puts M3 Helium in a solid financial position to invest in technology and innovation to improve its extraction, while the fixed price of helium shields the company from volatility to ensure steady revenue as its production increases.

The relationship between M3 Helium and Scout Energy illustrates one of those classic David-and-Goliath energy stories: M3 Helium is the small newbie player, and Scout Energy is the big, established operator. But M3 Helium gets the benefit of Scout Energy’s infrastructure and operational expertise and avoids much of the financial risk.

Such joint ventures are less common – especially in mature industries such as helium production. The unusual positioning of M3 Helium within this partnership is not only making it more effective operationally. It is also giving it a stronger competitive market position in a traditionally oligopolistic market. This strategic partnership shows the potential that small companies have for growing through strategic collaborations.

Life looks good. This joint venture between M3 Helium and Scout Energy is great news for the company. The reduction in operating costs, access to current infrastructure and the fixed tolling fee model will put them in a good position as they scale. They have pledged a commitment of a minimum of 25 wells to drill by March 2026. If they go beyond that, even better.

Through its commitment to green practices and thoughtful stewardship of its resources, M3 Helium is sure to solidify its brand in the marketplace. Its forward-looking approach to helium production, coupled with its carefully cultivated relationships with partners, will be essential to its long-term viability.

https://www.share-talk.com/zak-mir-talking-with-nick-tulloch-chief-executive-officer-of-mendell-helium/

ECR Minerals, a gold exploration company with assets in Australia, is making significant strides in both its exploration activities and corporate transactions. The company recently welcomed Mike Parker as its new technical consultant, a seasoned geologist with nearly 40 years of experience in the exploration industry. Parker’s extensive background includes working with major companies like First Quantum Minerals and leading projects in Africa and Latin America.

Parker’s addition to the team is expected to bolster ECR’s technical capabilities, particularly in leveraging data to identify promising drill targets. His expertise will be crucial as the company advances its exploration efforts in Australia, including the tantalum-niobium pegmatite project in Lorth and ongoing diamond drilling at the Tambo site in Victoria.

In a significant development, ECR’s Victorian subsidiary, MGA, has attracted considerable investor interest due to its substantial tax losses, valued between AUD 18 million and AUD 22 million. The company has moved swiftly, with multiple parties entering the data room and signing confidentiality agreements. ECR is now in the process of selecting a partner to finalize the transaction, which could result in a substantial cash infusion for the company.

CEO Mike Whitlow emphasized the importance of this potential deal, noting that the cash consideration would significantly enhance ECR’s financial position and support its ongoing exploration projects. The rapid progress in negotiations has exceeded initial expectations, indicating strong market interest in the tax losses.

As the year draws to a close, ECR Minerals is poised for a potentially transformative period. The combination of strategic hires, promising exploration results, and the potential monetization of tax losses positions the company for significant growth. Investors will be keenly watching the developments, particularly any corporate transactions that could unlock substantial value.

In summary, ECR Minerals is navigating a pivotal phase with a blend of technical expertise, strategic partnerships, and promising asset potential. The company’s proactive approach and recent developments suggest a bright future, making it a stock to watch closely in the coming months.

https://www.share-talk.com/ecr-minerals-aimecr-interest-for-its-tax-losses-and-updates-on-drilling-in-victoria/

Ondo InsurTech plc (LON: ONDO), a leader in claims prevention technology for home insurers, is pleased to announce an increase in production capacity at its UK contract manufacturing facility to meet rising demand for LeakBot, especially in its key markets, with notable growth in the United States.

Ondo InsurTech has increased production capacity at its UK facility in light of significant increasing demand for LeakBot across key markets, particularly in the USA with advanced discussions with large US insurance companies & significant expansions of existing partnerships ongoing. 

As previously announced, the Company is in discussions with a number of large US insurance companies regarding new contract opportunities and significant expansions of existing partnerships.  These negotiations are now at an advanced stage and the Company anticipates that further details will be announced shortly.

Ondo has agreed to make further capital investment in a second dedicated production line at its manufacturing partner,  Asteelflash in Bedford, England.  This investment will increase the current production capacity at the facility from 10,000 to 40,000 units per month.  The Board believes that this will provide sufficient headroom to accommodate the planned increase in demand from the United States. 

Craig Foster, Ondo CEO said “It is great news that the UK facility will now be able to meet a significant increase in demand. Coming announcements about our partner-led U.S. expansion will clearly demonstrate why now is the right time add the second production line at Asteelflash”.

Ondo is a world leading provider of claims prevention technology for home insurers.  Ondo’s focus is on the global scale-up of LeakBot – claims prevention technology that prevents water damage claims in houses. Water damage is the single biggest cause of home insurance claims, accounting for $17bn of claims every year in the USA and UK combined. LeakBot is a patented self-install solution that connects to the home wireless network and, if it detects a leak, notifies the customer via the LeakBot mobile app and provides access to a team of expert LeakBot engineers to ‘find and fix’ the problem. Independent research by Consumer Intelligence found LeakBot can reduce the cost of water damage claims by up to 70%.

LeakBot partners with 19 insurance carriers – including Nationwide, Admiral, Direct Line Group, Hiscox, Länsförsäkringar and TopDanmark – both in Europe and the USA.

Ondo holds the coveted London Stock Exchange Green Economy Mark awarded to companies who derive the majority of their income from Green activities.

For more information, visit www.ondoplc.com

Zak Mir talks to Charles Dickson, Executive Chairman, Roadside Real Estate, its joint venture with Meadow Real Estate Fund VI LP, set up to acquire and develop UK-based roadside real estate assets, has signed an agreement with Lidl Great Britain Limited, to acquire 12 stores for total consideration of £70 million.

Commenting on the transaction, Executive Chairman of Roadside, Charles Dickson, said: “This is a significant transaction for both Lidl and the JV, deploying a substantial portion of our joint venture’s targeted investment quantum into high-quality assets with a nationally recognised tenant under strong covenants.

“The Lidl portfolio is an excellent example of the JVs strategy in action, rapidly providing targeted capital to enable tenant expansion whilst securing asset management fees and creating additional opportunities for income initiatives.”

Roadside (ROAD) announced that Roadside Retail Limited, its joint venture with Meadow Real Estate Fund VI LP, set up to acquire and develop UK-based roadside real estate assets, has signed an agreement with Lidl Great Britain Limited, to acquire 12 stores for total consideration of £70 million. ROAD said this is a significant transaction for both Lidl and the JV, deploying a substantial portion of our joint venture’s targeted investment quantum into high-quality assets with a nationally recognised tenant under strong covenants. The Lidl portfolio is an excellent example of the JVs strategy in action, rapidly providing targeted capital to enable tenant expansion whilst securing asset management fees and creating additional opportunities for income initiatives.

Comment: One of the essentials for small cap companies these days is to be able to rub shoulders with nationally known blue chip counterparties, something which ROAD has done today. Indeed, today’s Lidl news underlines and enhances the way shares of ROAD are up 300% YTD and are capable of much more.

Zak Mir talks to Chris Chadwick, CEO of MetalNRG, in the wake of last week’s announcement that it has signed a binding sale and purchase agreement to acquire the entire issued share capital of Compagnie Minière de Oumejrane from Managem S.A.

The Acquisition will include 100% ownership of the Oumejrane copper mine, which is in production, cash generative and profitable in the Eastern Anti-Atlas of Morocco. OMF Fund IV SPV K LLC, a fund managed by Orion Resource Partners, has entered into a US$25,000,000 convertible loan note with MetalNRG, the proceeds of which will be used by MetalNRG to complete the Acquisition.

“We are delighted to have reached agreement with Managem to acquire Compagnie Minière d’Oumejrane, with financing support from Orion.  This will be a transformational transaction for the Company, giving us 100% equity ownership of a fully operational, producing and profit generating copper mine.  Beyond the immediate gains, this strategic move opens the door to substantial upside potential and a wider relationship with the Managem Group.  We are working to expedite completion of the Acquisition as soon as possible and look forward to providing further updates in due course.”

https://www.share-talk.com/zak-mir-talks-to-chris-chadwick-chief-executive-officer-of-metalnrg/

Zak Mir talks to Jonathan Owen, CEO of Metals One, which is advancing strategic minerals projects in Finland and Norway after they announced that re-assaying of historical diamond core drillholes from the Black Schist Project Paltamo P1 target in Finland has identified high-grade nickel-copper-cobalt-zinc mineralisation across two intersections within a black schist sequence.

Results further demonstrate the strength of the Company’s project pipeline and support Metals One’s longer‐term ambition of defining a 200 Mt resource at the Black Schist Project, where the current resource stands at 57.1 Mt Ni-Cu-Co-Zn over the R1 and P5 areas.

Key points covered:

Recent Findings: The company announced high-grade nickel, copper, cobalt, and zinc mineralization results from the Black Schist Project's P1 target in Finland. This reinforces Metals One's goal of increasing the resource from 57 million tons to 200 million tons.

Project Goals: While the 200-million-ton target is ambitious, Owen explains that the company quickly doubled its initial resource from 28 million tons to over 57 million tons within 12 months of listing. The company’s long-term goal is to reach 200 million tons, but ongoing economic assessments will determine the true economic viability of the project.

Future Outlook: The company is waiting for results from its Norway project and a preliminary economic assessment for the Finland projects, which will provide critical information on the economics and break-even points of the operations

High-Grade Mineralization Discovery: Metals One recently discovered high-grade nickel, copper, cobalt, and zinc mineralization at the P1 target in Finland. This is part of their broader Black Schist Project. This discovery has reduced the exploration risk for the company significantly and supports their long-term goal of expanding the resource base to 200 million tons.

Resource Expansion Plans: Metals One has been able to double its resource size from 28 million tons to 57 million tons shortly after listing, with plans to reach a 200 million ton resource. Jonathan Owen highlights that this larger target provides a positive market perception and sentiment. However, the actual economic viability of reaching such a target will be determined by an ongoing scoping study.

Scoping Study and Economic Assessment: The company is conducting a preliminary economic assessment of the Finland project, carried out by Ward L Armstrong International mining consultancy. This assessment, expected to conclude in December, will clarify the project’s economic feasibility, providing metrics like break-even points, capital expenditure (capex), and net present value (NPV). This study will help determine the true value of the 57-million-ton resource and whether it is a viable asset on its own, with the 200-million-ton target acting as an added bonus.

Upcoming Assays and Norway Project: Owen also mentions that they are awaiting assay results from their Norway project, where a joint venture with Kings Rose Mining is ongoing. This project has seen significant progress over the summer, and the results are expected soon.

Positive Momentum: Overall, the company has experienced a strong year with positive news flow. The termination of the Guns Farm-in Agreement has boosted confidence among the company’s directors, and the doubling of resources over the summer adds to the momentum.

In summary, Metals One is strategically positioned with strong ongoing projects in Finland and Norway, aiming to grow its resources and solidify the economic value of its mining operations through upcoming studies and assessments.

https://www.share-talk.com/zak-mir-talks-to-jonathan-owen-ceo-of-metals-one-plc-2/ 

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an update on its gold and rare earths projects in Queensland and Victoria.

·    Ongoing discussions with three Australia-domiciled public and private companies in relation to the potential sale of ECR's A$75 million of tax losses

·    Rock chip results from Lolworth Project, including Butterfly Creek, Uncle Terry and Gorge Creek expected in the coming weeks

·    Partnership with the Geological Survey of Queensland ("GSQ") to further investigate the critical minerals potential at the Lolworth Project

·    Maiden diamond drilling program at the Tambo Project to commence this month

Further to the Company's announcement of 2 July 2024, ECR, through its engagement with Argonaut PCF Ltd (''Argonaut''), is currently in discussions with three Australia-domiciled public and private companies in relation to the potential sale of its A$75 million of tax losses. Each company has signed a non-disclosure agreement.

ECR's tax losses are held within its wholly owned subsidiary, Mercator Gold Australia Pty Ltd, and were incurred during the period from 2006 to date. Any sale of the tax losses would be coupled with a disposal of certain non-core assets of the Company.  Whilst no guarantee can be given as to any potential sale or agreement being reached or as to the timing or terms, the board of directors of ECR (the "Board" or the "Directors") continues to be encouraged by the considerable interest shown in this potentially valuable asset.

https://www.share-talk.com/ecr-minerals-plc-aimecr-gold-rare-earths-projects-update-in-queensland-victoria/

Zak Mir talks to Mark Routh, CEO of Prospex Energy, as the AIM-quoted investment company focused on European gas and power projects announced that it has qualified to apply for onshore open acreage hydrocarbon exploration licences in Poland.

Expansion into Poland: Prospex Energy has spent about a year preparing to apply for licenses in Poland, demonstrating both financial and technical capability.

European Growth Strategy: The company is not seeking "domination," but rather expansion, aiming to grow into a significant European gas-producing company.

Current Projects: Prospex Energy is already operating in Spain and Italy, and Poland is viewed as a long-term growth project, with drilling expected in 2–3 years.

Self-Funding Plan: As their projects in Spain and Italy develop and increase production, they hope to be self-funded for future expansions into Poland.

Market Perspective: While there may be concerns about taking on too much, Routh is confident in the company’s strategy and the ability to attract potential partners.

“After several months of preparation, I am very pleased to announce that Prospex is applying for licences to search for and develop onshore natural gas in a third European nation.  Poland is well known for its hydrocarbon resources and has a regulatory regime which is supportive of natural gas investment with a track record in quickly approving permits for hydrocarbon exploitation activities as the nation focusses on its security of energy supply.

“There are several reasons for choosing to expand into Poland, aside from the favourable regulatory environment and prospective hydrocarbons, one of them being our experience in country.  The Prospex senior team has valuable prior exploration experience in Poland and is very familiar with the regional geology and importantly, the regulatory environment.  During the operational phase in 2016 Prospex met all local regulatory commitments, which puts the Company in a good position to leverage the experience and relationships gained at that time.

“The Prospex technical team has identified attractive onshore areas for the application and we hope to be able to announce a positive outcome from the applications in Q1 2025.

“The Company’s strategy is to add additional geographic reach to the existing portfolio of producing assets in a cost-effective manner.  The Company’s entry into Poland has been financed entirely from production income.

“I look forward to updating shareholders on progress with these applications in the coming months.”