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Brulpadda is a 1 billion barrel equivalent discovery

If Shell has discovered the same volume from the secondary zone then we could be looking at multi billion barrels finding more from the main target

Highlights

· Projected kimberlite volume significantly increased to an estimated 2 million tonnes.
· Economic study of mining options initiated.
· Four further potential blow targets identified: potential to further increase kimberlite volume

Ryan McDermott, Chief Executive Officer, said, "I am delighted with the latest drill results from the Red Star program. All seven drill holes encountered mineralization consistent with, if not exceeding, the grades in the maiden Red Star resource, further demonstrating the widespread polymetallic mineralization at Empire, and the continuity of a northerly trending system.

"This drilling confirms that the surface geology and geochemistry, as well as the magnetic anomalies identified in the ground magnetics survey reported on 20 October 2021, show a continuous northerly-trend toward the Horseshoe-White Knob project as expected, and are reliable and provide prospective drill targets for a planned 3,000 m core drilling program in 2022

Strong cash position
· Drilling contract signed for spring start-up at Olympic Gold and Rock House
· Road upgrade will open up Mineral Jackpot for both drilling and spoil heap recovery
· Survey results at Eastside Mine (EM Group) reveal exciting copper potential
· Volume calculation reported for gold tailings at OMCO Mine
· Project planning for precious metals secondary recovery on track

H1 Trading Statement

Our strategy of driving increased profitable sales through gross margin improvement, radical simplification of business operations, rigorous cost control and the prioritisation of our Skinny Tan brand, is working.

· Financial performance is markedly improved vs H1 2020 as our previously announced strategy is implemented with a disciplined approach to marketing and overhead costs.

· Short-term impact on revenue (revenues of c. £3.7m versus H1 20: £4.1m) primarily driven by ceasing loss-making sales promotions and reducing marketing investment in lower priority brands such as Nuthing.

· Gross margin improvements and operational cost reductions remain robust despite global raw material pricing pressures. We are also benefitting from stronger control over warehousing and logistics costs.

· Over the period, we have further improved our return on marketing spend and have adopted a strategy of reducing less efficient marketing spend during the low tanning season to ensure we have the right ammunition to maximise returns over the peak H2 tanning season (UK + US).

· Our Liberty Poole collaboration continues to yield benefits and is helping to increase the share of our business in the key 18-25 age group. We expect this collaboration to be further enhanced when Liberty appears as a contestant on ITV's hit TV series, Dancing On Ice, which starts on the 16th January

Supermajor Shell has hit oil on a high-profile wildcat that is targeting a billion-barrel reward offshore Namibia, with four exploration sources familiar with the Graff-1 probe stating that it has found light oil.

Shell is understood to have had two geological targets for the probe in Upper Cretaceous sands, with the basin’s older Lower Cretaceous Aptian play — a traditional objective — thought not to be on the supermajor’s radar.

One source told Upstream that light oil has been intercepted in what is believed to be a younger Cenomanian age reservoir.

“They are still logging from what I have heard, so more will only be known towards the end of the week,” said this knowledgeable source.

A second exploration source said: "I think it's Cenomanian oil — it looks like it", adding that the top reservoir was entered about a week ago and that a deeper objective will also be evaluated.

"We'll probably hear something pretty soon," said this veteran explorer, pointing out the prospect is "a fair sized, stratigraphic trap" with similarities to TotalEnergies' Brulpadda gas and condensate discovery in the Outeniqua basin off South Africa.

A third southern Africa source also suggested that Shell had “entered the reservoir” just over a week ago.

Graff well oil found still to drill into the main zone
Venus 1 this could be another discovery watching closely
Oil price at $80
Farm in data room opened, majors will be interested now

Nothing available NT

Shaking out the last of the sells

On every shake volume is increasing. Buyers snapping them up

Watch out for the discovery news. I said it last week something interesting was found

Playtech signs new strategic partnership with NorthStar Gaming in Canada

GSK and Vir Biotechnology announce United States government agreement to purchase additional supply of sotrovimab, authorised for the early treatment of COVID-19

Trading at a discount to NAV: Global is trading at a substantial discount to both peers and RENAV, despite the scale of resources in the portfolio. We would expect to see the discount unwinding on securing a farm-in partner and/or drilling success in Namibia. We believe that the current price offers a good entry point to those seeking huge exploration upside in the virgin basins of Namibia. We initiate coverage with a BUY recommendation and 3.4p target price

Katoro Executive Chairman, Louis Coetzee, said: "We are very pleased to be starting off the new year on a good note for the Haneti project. Commencing with the next phase of the diamond drill programme marks a milestone in our exploration strategy. Subject to the results from the diamond programme, we look forward to unlocking even more positive developments.

"In the process of planning and preparing for the abovementioned drill programme, the Company also successfully renewed all the prospecting licences that cover the Haneti project area. This means that the Haneti project now has another 7 years active life. This will also give us an opportunity for further exploration/ development of the Haneti project area.

Shell & total results could multiplying this alone
Then #gbp imo will get JV & start their own drilling what could be 2.9bn barrel of #oil

4m to 100s Mcap can happen

https://twitter.com/htrader64/status/1480821332333977603?s=21

This could get into the penny by end off week while the oil zone is testing

Pre Market 1m buy 0.565

Oil found in the secondary zone by Shell at the Graff 1 well. Drilling into the main zone

Venus 1x well update to follow

Global Petroleum Farm in lined up

First clinical trial sites initiated in both CONnECT and CHAMPAIN studies for Chronocort®

DITEST™ IND application to be submitted during January 2022

· Unaudited 2021 group revenues increased 108% to £9.33m (2020: £4.48m - audited).
o Orders exceeded £10m but supply chain delays and COVID infected staff requiring isolation in Q4 pushed some shipments and backlog of reagent supplies into Q1 2022.
o In addition, installation of Government National Infrastructure trial equipment with a value of £480,000 was installed before year end, but not included in 2021 revenues. Project is ongoing and expected to complete late in Q1 2022.
o Strong unaudited H2 revenues of £6m (2020: £3.4m) delivered first profitable EBITDA half year, excluding exceptional items.
o Full year 2021 is expected to show an EBITDA loss of c£0.22m (2020: £0.86m) and loss before tax c£3.50m (2020: £2.87m) respectively. While the losses may exceed market expectations, it is primarily due to delayed execution of 2021 orders.
o June: Completed Placing of Ordinary Shares at 30 pence per share, raising £10 million.
o Order books continue to grow across all divisions

Highlights
· 12 diamond drill holes and 1 drill hole extension for a total of 4149.45 metres were drilled in October-December 2021 southeast and west of the closed Enonkoski (Laukunkangas) Ni-Cu-Co mine.
· Ni-Cu sulphide droplet zones logged in mafic intrusions were intersected in the drilling. These types are analogous features in the former mine close to the Orebody.
· A top of bedrock ('ToB') sampling programme was conducted in August-November 2021 with a total of 99 drill holes drilled on 14 sampling lines in the north-western and central parts of the Enonkoski Belt. Mafic intrusive bedrock samples, occasionally sulphidic, were received from multiple sampling lines.
· Downhole electromagnetic ('DHEM') surveys were completed on a total of 22 drillholes for a total of 13,120 metres including measurements of both historic and new drill holes, interpretations and modelling of the survey results are ongoing.
· All diamond drill core and ToB core samples have been submitted for analysis at ALS, assay results are pending.

Acquisition of additional Empire Mine production royalty
Appointment of Joint Broker