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Tectonic Gold (TTAU NXX) has announced a new joint venture agreement on its Mount Cassidy license area in Queensland. The deal with White Prospecting will enable the JV partner to mine alluvial gold on this license area with 7.5% of gross royalties going to TTAU. The deal is designed to provide near term cashflow to TTAU without shareholder dilution which has been a key aim of management since the company was formed.

This is great news at last we are seeing expansion to our production on a number of fronts occurring more or less at the same time. A growing profitable company with zero debt, we may have been off investors radar recently but institutions looking for dividends and capital growth will be interested now, especially as we keep reiterating how co2 aware we are, as that seems to be the worldwide political agenda regardless of how ridiculous it is pleased to see we are playing the game which will tick the box for institutions to come on board.

VSA morning miner comment on tectonic today first review, seeing as they are our broker they have only nice things to say regarding being self funding for small scale exploration with the new today moving towards that end.
https://m.soundcloud.com/user-596578261/vsa-capital-morning-miner-130721

VSA Capital morning miner review this mornings update, suggest an acquisition would be beneficial to boost the sp, however every man and his dog are on the outlook for copper prospects, wonder if they may surprise and choose an alternative.

https://m.soundcloud.com/user-596578261/vsa-capital-morning-miner-080721

The market reaction never fails to surprise, in the production update in April CAML informs the market of an unexpected mill shutdown of 4 days at Sasa, in today's announcement I only see what would be expected.
Production from Sasa is down, Kounrad is performing in line with expectations and guidance, all our production supported by good metal prices, yet the market sees something different?
The really good news we almost cash positive and will be within a month or two, plus the environmental damage caused by our dam breech has been successfully rectified to the satisfaction of the authorities and locals.

Group cash and debt position
Cash in the bank on 30 June 2021, $54.4 million
Gross debt (inclusive of $8.7 million overdraft) on 30 June 2021, $60.9 million
H1 2021 Group corporate debt repayments of $19.2 million

Morningstar's take on today's production update, and our new CFO appointment

https://www.morningstar.co.uk/uk/news/AN_1625648770784515400/ferrexpo-appoints-kladiev-as-chief-financial-officer;-output-rises.aspx

Excellent news, The Ministerial decree facilitates the development and commercialisation of the Akatara gas field and also the associated production and sales of LPG to the local domestic market in Jambi, together with condensate sales to a local buyer.
So we are off and running now with expected development costs of $94m.

One thought I have been pondering over regards of the demise of ice is the infrastructure investment that's needed, I have heard talk of it constantly but I haven't seen anything that's of scale required to make ev viable in comparison.
I am thinking inner city apartments how would they charge their vehicles?
Not everyone can adopt a home charger, what about charging at your place of work? Non of this is happening on the mass scale that's required, even the grid system could it cope with this new electric demand?
I don't think so with the green agenda windmills and solar as the ever increasing source of our electricity, if we have a really cold snap as per Texas recently we would be lucky to keep the lights on.
So my conclusion is that significant infrastructure should be happening now but I can't see it, nor the increase in dependable power supply which would be gas turbines or nuclear but I don't see that either on a scale required.
We currently depend on excess supply of France and smaller amounts from other EU countries to meet our power demand, we are not self sufficient.
Logically I see timeframes being pushed back again and again, a bit like freedom Day but that's another subject.
PGM demand will be around for some time to come for cc.

In the last 14 days or so we have 3 director purchases albeit fDirectoror small amounts it's better than nothing, does it send a signal to the wider market I don't think so, but for us invested here it's a slight nod things are okay and getting better.

Excellent review of the situation and his part in it, he should be put out to pasture now to prevent any misguided input he might have here, his age is also against him, he has had his days in the sun and been richly rewarded, time for a thank you and goodbye.
By the way I have never held shares in HUR.

Since a labour government came to power in NZ the oil and gas industry has been hit with tighter regulations making what was once a favourable area to do business much more problematic, with the majors leaving in droves.
These tighter regulations is the reason imo why this transaction is taking so long to complete.
Now their government seems to have identified a major gas shortage, leaving its gas-fired generation and wholesale gas market undersupplied.
This lack of exploration and production investment, and subsequent lack of new gas supply, has only been exacerbated by an unexpected fall in production at the Pohokura field - the largest gas field in New Zealand.

The realities of their decisions are starting to hit home as the artic weather of the last few days must if they have any sense make them ponder what they have done.
I am thinking Texas just a few weeks ago when the green agenda fell flat on its face and it seems to me NZ is heading in the same direction.
The good news in today's rns is that both parties seem happy to work through the red tape to complete the deal regardless of the lengthening time frame.

The moral of the story here is that he has proved his own interests come first before
that of shareholders.

What a shambles has unraveled over at HUR Steven McTiernan has had his reputation dented by being chairman overseeing operations there.
It should raise questions over his decision making here, certainly would of had shareholders wiped out if crystal amber had not forced this resignation.

Good news in todays rns showing the market the financial strength and wellbeing of the company, hopefully they will continue to grow production continue to invest in all areas of the business to consolidate their position as the goto company for high specification high quality pellets.
The Board of Directors of Ferrexpo with assets in Ukraine has approved the early repayment of its outstanding pre-export finance facility (PXF facility) the agreement on which was signed in 2018. As at December 31, 2020, the group had $257 million of debt drawn on its PXF facility.
The company said on Wednesday that repayment is to take place today, while earlier repayment was scheduled to take place quarterly between 2020 and 2022.
Early repayment of this facility reflects the strong performance of the group’s operations, including recent growth in both the group’s production volumes and product quality, following the recent completion of investments throughout the group’s operations, representing prudent cash management practice.

Rio Tinto has declared force majeure on customer contracts at Richards Bay Minerals (RBM) in South Africa due to an escalation in the security situation at the operations. This has led to the decision to cease operations until the safety and security position improves.
Richards Bay Minerals (RBM) is a world leader in heavy mineral sands extraction and refining and is South Africa’s largest mineral sands producer. RBM mines the vast mineral rich sands of the northern KwaZulu-Natal province and produces predominantly ilmenite, rutile and zircon – materials used in everything from paint to smart phones to sunscreen.

Oil outlook from Cenkos, things are looking good for all producers, especially those who are not hamstrung by heavy debt, hope to see ptal revival continue.

Oil posted its fifth straight weekly gain, the longest winning streak since December, as demand recovers, and supplies continue tighten in the US and China. Futures in New York rose 3.4% this week to the highest level since October 2018. Demand continues to rebound while the market expects output will only get a modest increase from the OPEC+ alliance, which meets next week to discuss supply policy. Stockpiles are draining rapidly as fuel consumption rebounds in key regions including the US and Europe. At the same time, the prospect of an imminent surge of Iranian oil is diminishing as talks to revive a nuclear deal drag on. The increasingly bullish picture is helping to fan speculation that Brent may eventually return to $100 a barrel. JPMorgan Chase & Co increased an estimate for 2021 global demand for crude by 200,000 barrels per day, with the majority of that gain coming from China. US demand would stay strong until September, the report said. Gasoline futures fell Friday after the Supreme Court announced that the Environmental Protection Agency has wide latitude to exempt refineries from federal mandates that they mix renewable fuels into gasoline and diesel. The decision marks a victory for oil companies that have sought a break from the requirements, arguing that costs have skyrocketed in the recent months. Prices ? West Texas Intermediate for August delivery rose 75 cents to settle at $74.05 a barrel on the New York Mercantile Exchange. ? Brent for August settlement rose 62 cents to end session at $76.18 on the ICE Futures Europe exchange. The world’s third-biggest oil consumer India has called for an increase in output from OPEC and its allies, saying high crude prices are adding to inflationary pressure. India’s transport fuel demand is expected to grow in double digits next year, according to Icra Ltd. Though Saudi Arabia has said the group has a role in “containing” inflation, it has signalled they will move cautiously, as the market remains fragile. The average gain forecast by analysts stood at 550,000 barrels a day -- barely a quarter of the global supply deficit that the alliance anticipates during August.

Cenkos have released a broker note today free to read if you register.

https://www.cenkos.com/research-portal

https://m.soundcloud.com/user-596578261/vsa-capital-morning-miner-230621
The first segment discusses ttau, vsa capital have also released a new broker note today on research tree, you will need subscribe to read it.

Another advantage of the emissions time extension is OPG had expected to invest £15m of capex to meet these requirements, much of which will now be deferred, this will help to offset the higher coal price we are experiencing at present.

Decent update from OPG today, some positive news and some not so positive due to lockdowns.
PLF 58% down from 75%, although increasing again now, average tariff slightly down.
Good news £8.2m loan repayments made, total borrowings reduced to £46.6m from £56.8m. Since March £5.7 collected from historical claims.
India's economy projected growth 8.3% this year, probably more importantly emissions deadline from coal plants extended from Dec 2021 to 2024.
Coal and Freight
This has been an issue in the past and it's good to see they have agreement's in place at fixed prices but do have a portion that remains exposed to higher prices they are however exploring other avenues of supply and believe that the price increase is a spike which will reduce in FY22.

Solar project OPG owns 31% of the 62 MW Karnataka installation, I thought it was 100%.
Overall prospect's are looking very good deleveraging continues, emission deadline extended the only area of concern is coal price volatility.