What is New With These 4 Resource Stocks - FDM, E25, FPL And NML

  • July 25, 2019 03:41 PM AEST
  • Team Kalkine
What is New With These 4 Resource Stocks - FDM, E25, FPL And NML

The below-mentioned resource stocks have come up with significant updates today (25th July 2019). Let’s take a closer look at these updates and how investors and shareholders have responded to them.

Freedom Oil & Gas Ltd (ASX: FDM)

The energy company, Freedom Oil & Gas Ltd (ASX: FDM) has conducted a detailed post drilling and completion study on its most recent Vega, Persimmon and Katherine Brown Eagle Ford Shale wells, following the underperformance of Freedom’s nine Phase III Development Program wells.

The company in its release, published on 25th July 2019, has disclosed that the last nine wells were drilled into a highly faulted area, which caused the diversion of the completion energy. As a consequence, the wellbores were under-stimulated and “frac hits” between these wells.

The company advised several actions, which can help in improving the performance from the Vega, Persimmon and Katherine Brown wells.

The company believes that a completion program, which isolated and bypassed sections of the wellbores that were in contact with the faults, can help in minimising the diversion of the frac energy along the fault planes.

In addition, more sophisticated directional drilling tools can be used to keep wellbore within a tighter and more defined target zone. The company also believes that the integration of all available seismic data into the well planning and directional drilling processes can help in improving the performance of the well.

The company has also released the outcome of its internal mid-year reserves review, which is as follows:

The Outcome of Freedom’s 30 June 2019 Internal Mid-Year Reserves (Source: Company Reports)

In the last six months, FDM’s share price has decreased by 80.00% as on 24th July 2019. On 25th July 2019 (AEST 2:30 PM), the stock of FDM was trading at a price of $0.024. The stock has a 52 weeks high price of $0.280 and 52 weeks low price of $0.020, with an average volume of 1,676,321. FDM holds a market capitalisation of circa $25.85 million.

Element 25 Limited (ASX: E25)

An exploration and mining company, Element 25 Limited (ASX: E25) recently released assays for a drilling programme, which was completed in the June Quarter within the company’s exploration tenure footprint at its wholly-owned Butcherbird Project.

Considered as a high purity manganese project, Butcherbird has a total mineral resource of 263 million tonnes @10.0% Mn, 20% Si, 11.4% Fe and 5.9% AI.

Butcherbird Project Mineral Resource (Source: Company Reports)

During the drilling program, the logging of the drill cuttings identified several low quality manganiferous zones, supported by anomalous assay values.

All samples above 3% Mn are shown in the figure below:

Channel manganese drilling significant intercepts (Source: Company Reports)

On 25th July 2019, the company also unveiled its June Quarter results, reporting significant operational progress over the period.

The company is advancing the Pre-Feasibility Study (PFS) with regards to the Butcherbird Project and is currently in the closing phase of the study, which is anticipated to provide a strong base case for the commercialisation of this world-class manganese resource. It is expected that the study will be completed in the third quarter of 2019.

During the quarter, the company continued the metallurgical assessment of the Butcherbird high purity manganese process and successfully completed the comminution testing. The company is assessing options to minimise reagent consumption and cost, which has caused minor delays to the programme.

In the last six months, E25’s share price has increased by 8.57% as on 24th July 2019. On 25th July 2019 (AEST 2:45 PM), E25’s stock was trading at $0.185, with a market capitalisation of circa $17.46 million.

Fremont Petroleum Corporation Limited (ASX: FPL)

Oil and Gas Production and Development company, Fremont Petroleum Corporation Limited (ASX: FPL) is soon going to commence stimulation operations on the Amerigo Vespucci #1 well. The commencement was expected much earlier, but due to some minor operational delays, the process was delayed to early next week.

Completion operations on the Amerigo Vespucci #1 well (Source: Company Reports)

Earlier, when the company provided an update on this well, it was informed that the negotiations with respect to a binding gas offtake agreement were progressing favourably. Additionally, Amerigo Vespucci #1 well is a very exciting prospect for the company and Fremont Petroleum Corporation Limited is looking forward to delivering a favourable outcome from this well.

In the last six months, FPL’s share price has decreased by 12.50% as on 24th July 2019. On 25th July 2019 (AEST 2:50 PM), the stock of FPL was trading at $0.009, reflecting a rise of 28.571%, with a market cap of circa $11.68 million and PE multiple of 1.080x.

Navarre Minerals Limited (ASX: NML)

Australian-based resources company, Navarre Minerals Limited (ASX: NML) is currently involved in the development of its flagship Irvine Gold Project within the Stawell Corridor Project in Western Victoria.

Stawell Corridor Project (Source: Company Reports)

In an update provided on 25th July 2019, the company announced that it has intersected significant gold mineralisation in its recently completed air-core (AC) drilling program at Irvine Gold Project, which is an encouraging piece of news for the company and its shareholders.

Notable New Gold Results include:

  • 4m @ 6.4 g/t Au from 35m, including 2m @ 10.4g/t Au from 36m in IAC443
  • 4m @ 3.2 g/t Au from 7m, including 1m @ 8.4g/t Au from 10m in IAC446
  • 4m @ 3.3 g/t Au from 47m, including 2m @ 5.2g/t Au from 48m in IAC437

The results received from the programme are extending a significant zone of shallow gold mineralisation further south by around 130m, increasing the value of the project from an exploration perspective.

Following the release of this news, the share price of the company increased by 2.74% during the intraday trade (AEST 3:00 PM).

The company is now planning to undertake deeper diamond drill programmes for Resolution and Adventure gold lodes targeting high grade shoots at depth. It is expected that these programmes will commence in the third quarter of FY19 and will drive Navarre towards a maiden Mineral Resource.

In the last six months, NML’s share price has increased by 40.74% as on 24th July 2019. At the time of writing, i.e. 25 July 2019 (AEST 3:10 PM), NML’s stock was trading at a price of $0.075, with a market capitalisation of circa $31.76 million. The stock has 52 weeks high price of $0.110 and 52 weeks low price of 0.045, with an average volume of ~947,467.


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