Member Info for ICB888

Yes a positive start which has continued. You have to look at the individual trades to see where the sp actually is. CHAR’s sp is always shown as the last AT trade so a small AT sell at 16.42p is responsible for the sp currently showing. However the vast majority of trades AT or ordinary have been at or very close to17p.

In fact the largest trade of the day has just gone through 117538 a Buy at 17.0115p.

The trend is definitely positive.

An Article on African Miners in this weeks IC mentions Shanta:

“ Crossing the continent

Shanta Gold (SHG) operates in East Africa. Tanzania has had its own jurisdiction issues – ask any former Acacia Mining shareholder, who suffered the impact of a bogus tax claim. But prospects may be improving. Investment is shifting “towards East Africa from West Africa”, said Shanta boss Eric Zurrin. He highlighted Lifezone Metals (US:LZM), a nickel company backed by BHP (BHP) that listed in New York in July, and increased activity by Barrick Gold (US:ABX) on the ground.

But even with more stable operating environments, and a growth story in Shanta’s case, investors are not paying up for reduced risk. Egypt-based Centamin’s share price has underperformed both GDX and its junior equivalent. Year-to-date, Centamin is down 23 per cent and the VanEck Junior Gold Miners ETF (US:GDXJ) is down 1.4 per cent. Shanta is up 10 per cent, off the back of its new mine performing strongly.

Low from Liberum said “recovery stories and growth allure can outweigh West Africa risk” for mining investors. This is obvious when looking at Hummingbird, which is up 55 per cent in the year to date. Resolute Mining, which has operations in Mali and Senegal, is up 47 per cent based on a turnaround after a terrible few years. Zurrin rightly points out that the “value” in his company, which has been much more stable than the West African operators, was not being rewarded. Looks as though London investors do still like West Africa after all.”

The volume has reached 660000 all buys and several AT trades at 16.8p provide much of that volume. Currently Up 1.2% and looking good for another go at 17p . A finish at 18p the price of the highest raise would be a good end to a very positive week.

Wednesday, September 20, 2023 21.00 21.00 19.38 19.50 344,002

Tuesday, September 19, 2023 21.25 21.30 20.75 21.00 257,193

Monday, September 18, 2023 21.25 21.00 21.00 21.25 5,000

Friday, September 15, 2023 21.75 22.50 21.00 21.25 533,012

Thursday, September 14, 2023 22.50 22.32 22.00 22.25 5,095

Wednesday, September 13, 2023 22.50 22.65 22.00 22.50 13,287

Tuesday, September 12, 2023 22.50 22.70 22.15 22.50 20,691

That is the last 7 trading days as CNR has drifted down from 22.5 to 19.5 on very low volume of 1.177 million which is an average daily volume of 168000. The deramp crew on here and advfn have been working overtime with their pathetic drivel. We all know that with the tiny number of shares traded the moves can be relatively large. The converse is one day of decent volume and this can be reversed and back to 25p. If there is news it will be straight to 50p plus in all probability. Carry on with your drivel if that’s how you get your kicks but no one is listening as evidenced by the very low volume which has been only 5000 on occasions.

The price paid keeps gradually rising and it’s getting very close to being 17p with buys outweighing sells 2/1. Good steady rise consolidating the recent large rises.

Just a reminder from the IC Website:

“ The 2 analysts offering 12 month price targets for Shanta Gold Ltd have a median target of 25.82, with a high estimate of 29.86 and a low estimate of 20.98. The median estimate represents a 141.34% increase from the last price of 10.70.”

They are going to buy upto 10% of the shares currently in issue if they buy the full 21.5 million they have stated as the maximum shares they will purchase with £850000. Let’s hope it works and the shares get back to 6p.

As the volume reaches 5 million SCLP is Up 20.9% at 15.875p.

In order to find a day with a higher volume you need to go back to 7th December 2022 when the volume was 6.04 million and the sp was 26.75p. We are clearly in a better place now than we were then so plenty of scope for the rerate to continue in the coming days and weeks hopefully with increased Institutional investment.

The webcast mentioned in the RNS will start in 15 minutes:

“ Analyst and investor webcast

Professor Lindy Durrant, Chief Executive Officer, and Sath Nirmalananthan, Chief Financial Officer, will host a live webcast and Q&A session for analysts and investors at 13:00 BST / 8:00 ET. If you would like to join the webcast, please follow this link:

Issuer Services | London Stock Exchange | SCANCELL HOLDINGS PLC (lsegissuerservices.com)

A replay of the webcast will be made available shortly afterwards.”

Let’s see if this sparks further interest from institutional investors and what US investors make of it as they start to wake up.

As we await news it is worth rereading the Ruvuma Operations Update issued on 12th July and this is the Chairman’s comment at the end of that RNS:

“ Charles Santos, Executive Chairman of Aminex commented:

"Ruvuma is an important project for Tanzania requiring a broad technical engagement and multiple negotiations. We are very pleased that the Tanzanian authorities continue to prioritize our project, including supporting the accelerated production of gas and the building of a pipeline. We are also pleased to report that APT is making great progress, including finalization of the GSA, FDP and the Development Licence, and the identification of a much-improved well location. We expect additional progress in the coming months on the well-testing of NT-2, the spudding of CH-1 and the workover of NT-1. We also look forward to the completion of the 3D seismic interpretation by the fourth quarter of 2023.”

News is imminent and should start dropping any day now.

Trinity Delta are giving this a current value of a £300 market cap which is a share price of 36.7p

One would expect those targets to be revised upwards on the back of todays news. We are clearly in a much stronger position now than we were last December when the sp hit a high of 27p. A new target well north of 30p would appear to be justified imho.

It is worth reminding ourselves today of the analysts forcasts:

“ The 2 analysts offering 12 month price targets for Scancell Holdings Plc have a median target of 26.60, with a high estimate of 30.00 and a low estimate of 23.20. The median estimate represents a 163.37% increase from the last price of 10.10.”

Exploit Bango's glaring valuation anomaly

Shares in the technology group potentially offer a 67 per cent upside

September 18, 2023

By Simon Thompson

The above is the title of the article and this is the conclusion:

“ Exploit a glaring valuation anomaly

The bottom line is that there is a glaring disconnect between the expectations of both analysts and Bango’s directors for next year’s earnings and the rating that investors are currently ascribing to the shares. I feel it will correct itself and drive a material re-rating to Stifel’s 315p share price target.

So, although Bango’s share price has fallen 12 per cent from the 215p level when I covered the annual results six months ago (‘Bango profits set to soar after game-changing acquisition’, 28 March 2023), albeit it is still double my entry point ('Bang on the money', 26 September 2016), the operational progress and maintained guidance fully support an overdue re-rating. Buy.”

It’s now Up 38% at 14p. But remember this is just back to where it was at the end of June before the completely unjustified fall that has just been reversed with this mornings rise. This has much further to go and remember we went above 20p In expectation of news in April.

It’s Up 11.3% at 7.85p on volume of 4.5 million. Looks like someone lit the blue touchpaper at 10.04am and we are off to the races!

Further extract:

“ The farm-in deal does not cover the potential gas-rich Rissana block that surrounds Lixus where more seismic must be shot to better understand the sub-surface.

Once a rig is chartered to drill and test the Anchois wells and explore Lixus, it will likely also drill exploration wells on Rissana.

Onshore Morocco, Pouroulis is enthused about the Loukous block.

This acreage is adjacent to Rissana and Lixus, has the same geology and hosts untapped discoveries from the 1960s when explorers were looking for huge fields in deep horizons.

However, Chariot has identified smaller, shallower prospects, each holding 10 Bcf to 15 Bcf of gas, that could between them produce up to about 20 MMcfd.

Chariot intends to start exploration drilling this year or in early 2024 and recently raising funds for an exercise expected to cost about $3 million per well.

There is infrastructure nearby, rigs are available and a hungry local market exists.

Extract from Upstream Article:

“ taken us a while to shorten that list (after) over 40 companies visited the data room.”

He said “a few” companies are now in the running, while stressing that the farm-out process took so long because surging gas prices, rising costs and supply chain issues meant Chariot had to “rerun its numbers” many times, feed this updated data to prospective partners who then had to revise their own numbers.

Chariot poised to receive bids on debut Moroccan offshore gas project

Read more

However, the end appears to be in sight. “We're pretty close to finalising the process,” said Pouroulis, highlighting that the ideal scenario involves a bigger partner bigger with previous experience of this type of project, with Chariot securing a “free carry to first gas,” a “chunk of cash” and retaining “a big chunk of equity” in the asset.

He said potential partners — state-owned ONHYM has a 25% stake in Anchois — have proposed boosting Anchois gas output to 250 MMcfd, given the resource upside in the field and in the Lixus licence within which it lies.

Pouroulis said the project does not need to flow at 250 MMcfd to progress, highlighting that at 105 MMcfd and a gas price of $12 per cubic foot “you’ve got $1.5, $2 billion of net present value — it’s a phenomenal project.”

Fernan leading the deramper charge before trading opens again tomorrow morning. This share has always attracted a lot of traders who deramp to suit their book. Good to see Fridays early fall reversed and a positive finish up 4.8%.

CHAR is a Transitional Energy company by design but currently majoring on Anchois and Moroccan gas. They have made it clear the cash raised is primarily for Anchois and that when the Renewable and Green Hydrogen parts of the business need significant funds they will be spun off , so they can raise their own funds, but no doubt CHAR retaining a significant interest.

The company as currently set up is good for presenting CHAR in the right way to the Moroccan Government as Transitional Energy is the way all the big boys are going. It looks good that CHAR are involved in Renewables and Green Hydrogen in Morocco as well as elsewhere in Africa.

The big announcement on Anchois can’t be far away now and the deramping traders will hopefully get their fingers severely burnt.

Slightly surprising there is so little trading with just 2 trades upto 11am and now a total of 10 trades for volume of 288000. Perhaps we will see some decent trades as the day progresses following such positive news.