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- Special Situation Alert - December 1, 2024
Special Situation Alert - December 1, 2024
Interesting investments to look at today
Oilman Jim
December 01, 2024
High-upside online businesses have investors lining up. 📈
WebStreet is a first-of-its-kind investment platform that allows accredited investors to own fractional shares in cash-flowing online businesses. So far WebsStreet has delivered 11.4% cash returns and is on track for 20%+ IRR.
GreenX Metals (GRX.ASX 5PMA.F) announced that high grade antimony mineralisation has been identified at the company’s Eleonore North project in Greenland, based on historical results recently released by the Geological Survey of Denmark and Greenland. Antimony prices have been on a rapid uptrend since China announced export controls, with antimony prices in the US reaching $37,500 per tonne, up from $18,300 per tonne the previous week. Historical results from the survey fieldwork include grab samples from outcropping mineralised veins with individual specimens grading up to 23% antimony and other samples grading up to 4 grams per tonne gold. Antimony mineralisation has been identified along an approximately 4 kilometre trend in veins and structures that broadly align with previously identified gold veining at surface within a 15 kilometre trend. Significantly, the survey’s geologist’s identified stibnite as the antimony mineral. This is the predominant ore mineral for commercial antimony production. Antimony is designated a critical raw material by both the EU and the US, with China being the world’s major antimony ore producer and major exporter of refined antimony oxides and metallic antimony. Antimony is a crucial material in the defence supply chain, used in various military applications including ammunition, flame retardants and smart weaponry, and is essential in renewable energy technologies including more-energy efficient solar panel glass and in preventing thermal runaway in batteries. The antimony market is expected to grow by 65% between 2024 and 2032.
First Helium (HELI.V FHELF 2MC.F) announced plans to drill two complementary vertical Leduc oil targets at its Worsley property. The program will include drilling two strategic targets: the company's proven undeveloped location at 7-30, which has been assigned proved plus probable undeveloped reserves of 196,700 barrels by Sproule Associates; and the recently identified 7-15 Leduc anomaly. HELI has initiated licensing for both locations and intends to optimize drilling costs by executing a two-well program in succession. The 7-15 well will target a large structure in the Leduc Formation that is on trend with and approximately 5 times greater in areal extent than the company’s initial 1-30 Leduc oil pool discovery. Upon completion, the 1-30 well flowed 419 barrels per day of 35-degree API light oil from the Leduc Formation over a test period of 72 hours on a minimal drawdown. Given its premium light oil pricing, attractive vertical well drill costs and lower initial royalty rates, the 1-30 well paid out in less than 4 months. The 7-30 well directly offsets the 1-30 well. Its location was identified using the same seismic interpretation technique as used for the previously successfully drilled offset wells 1-30, and 4-29. Together, the 2 wells have produced 113,000 barrels of light oil and generated in excess of $13 million in revenue and $8 million in cash flow to date. In addition to the 7-30 and the 7-15 location on the Leduc Anomaly, the company has identified 10 further Leduc locations based on the same interpretation over existing proprietary 3D seismic. Through the 1-30 and 4-29 drilling successes, HELI has achieved a direct correlation of its Leduc seismic interpretation. Continued success through drilling the 7-30 well, and 7-15 will result in an immediate low risk 10 well scalable project.
Radio Fuels Energy (CAKE.CSE CKEFF) and NV King Goldlands announced the completion of their plan of arrangement, pursuant to which Radio Fuels has acquired all of the issued and outstanding shares of NV King at an exchange ratio of approximately 8.73 common shares of Radio Fuels for each NV King share. Immediately following completion of the arrangement, former shareholders of NV King held 40% of the issued and outstanding Radio Fuels shares. Radio Fuels will continue to provide leverage to uranium and rare earth elements through its 100% ownership of the Eco Ridge project and has added significantly to its project portfolio, becoming the largest junior gold explorer in Nevada when measured by mineral tenure. The NV King property portfolio ranks as the third largest in Nevada behind just Nevada Gold Mines (Barrick/Newmont JV) and Kinross Gold Corp. Radio Fuels also has attained exposure to the Atlanta gold mine project, currently being advanced by Nevada King Gold, through the 3% net smelter royalty held by NV King. The combined entity has a strong balance sheet with approximately $20 million in cash and marketable securities.
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Global Petroleum (GBP.L) updated on the progression of the Namibia oil and gas PEL94 project and the Juno Project in Western Australia. The company has in recent months has been actively working with a commercial farm-out partner to secure a farm-out agreement for the PEL94 oil and gas exploration licence. As part of the process, Global has also been engaging with current JV partners in the licence, Namcor and Aloe, to get their final approval over the farm-out agreement. Discussions are said to have been positive and progressing well on all fronts with a series of meetings to be held in London over the next two weeks with the commercial farm-out partner. The aim by Global and the commercial farm-out partner is to have the farm-out agreement finalised by the end of the calendar year and then moving onto the final formal approvals required to complete the process. The Juno project is said to have been progressing positively with recent aeromagnetic survey data which confirmed the location, highlighted the strong intensity and verified the large size of the Juno magnetic feature. For context, gold and copper mineralisation at Havieron was discovered following exploration drilling of a strong discrete magnetic feature. Havieron and Telfer are large gold and copper deposits located in the north of Western Australia. Global's main focus at Juno is targeting intrusion related gold systems similar to Havieron and Telfer. Global also announced the commencement of a ground-based gravity survey at the Juno Project with data due in the next few weeks. Both the results of modelling of detailed aeromagnetic and ground gravity data will be used to locate Global's first exploration drillholes at the large Juno target with the same techniques used to successfully intersect buried high grade gold and copper mineralisation at the Havieron intrusion related gold systems discovery.
Aldebaran Resources (ALDE.V ADBRF) announced the results of an updated mineral resource estimate for the Altar copper-gold project in San Juan, Argentina, which includes three main porphyry discoveries (Altar Central, Altar East, and Altar United) reported within a single conceptual open pit. Measured & indicated resources are 22.01 billion pounds of copper, 5.08 million ounces of gold, and 93.76 million ounces of silver, and there is an inferred resource of 9.83 billion pounds of copper, 1.71 million ounces of gold, and 49.04 million ounces of silver, all representing significant increases compared to the 2021 mineral resource estimate. Per John Black, CEO, the company has completed over 63,000 metres of drilling since 2021 and the results demonstrate that Altar is one of the largest undeveloped copper-gold deposits in the world. On the back of the resource estimate, Aldebaran has begun working towards the first PEA on the Altar project, to be completed in Q2-2025. The results position Altar as one of the few giant copper-gold projects still in the hands of a junior exploration company.
New Zealand Energy (NZ.V NZERF) announced that it has completed the closing of its non-brokered private placement offering of common shares. NZ issued 4,444,444 shares at a price of C$0.45 for gross proceeds of ‎‎$2 million. The shares are subject to a hold period that expires on March 23, 2025. Net proceeds will be used to fund the sidetrack of the Tariki-5 well (Tariki-5A) and to advance the company's plans regarding the Tariki gas production/storage development and for general working capital. A company wholly-owned by Frank Jacobs, a director of NZ, subscribed for 100,000 shares. In addition, Charlestown Energy Partners, a private equity firm at which Robert Bose (of Sintana Energy fame) is a Managing Member, subscribed for 444,444 shares.
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These are opinions only of the individual author. The contents of this piece do not contain investment advice and the information provided is for educational purposes only and no discussions constitute an offer to sell or the solicitation of an offer to buy any securities of any company. All content is purely subjective and you should do your own due diligence. No representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in the piece is made. Any assumptions, opinions and estimates expressed in the piece constitute judgments of the author as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions and there can be no guarantee that any projected outcomes will be achieved. No liability is accepted for any direct, consequential or other loss arising from reliance on the contents of this piece. The author is not acting as your financial, legal, accounting, tax or other adviser or in any fiduciary capacity.
This tech company grew 32,481%..
No, it's not Nvidia. It's Mode Mobile, 2023’s fastest-growing software company according to Deloitte.
They’ve just been granted their Nasdaq stock ticker, and you can still invest at just $0.26/share.