An Update On Three AIM-listed Best Gold Mining Companies

  • Aug 13, 2019 BST
  • Team Kalkine
An Update On Three AIM-listed Best Gold Mining Companies

GREATLAND GOLD PLC

Alternative Investment Market-listed Greatland Gold Plc (LSE: GGP) is engaged in exploration and development of natural resources with a current concentration on Gold, Copper and Nickel exploration projects. The natural resource developer and explorer is operating six main projects with four out of six is located in Western Australia and the rest two in Tasmania. All these projects are wholly owned by Greatland Gold Plc. Also, the company is actively exploring several new opportunities in rare earth and strategic metals. On July-03-2019, shares of the Greatland Gold Plc got admitted to the Alternative Investment Market segment of the London Stock Exchange, and it is a constituent of FTSE AIM All-Share-Basic Resource.

Recently, in March 2019, the mining company updated that, it has finalised one Farm-in-Agreement with Newcrest Operations Limited, a subsidiary of Newcrest Mining Ltd, Australia to explore and develop its “Havieron gold-copper” development in the Paterson area of West of Australia. This agreement will enable Newcrest to take control of up to 70 per cent interest in an area of 12-block within E45/4701, that covers the "Havieron" target through investment of up to US $65mn.

In the recent exchange filing on August 12, 2019, the company notified that it had raised £4.2 mn through the placement of new ordinary shares of the Company to both existing and new shareholders, including Institutional investors and High Net-Worth Individuals (HNIs).

Transaction highlights

The company Issued 25,813,513 new ordinary shares of 0.1 pence each at a price of GBX 1.81/share and raised approximately £4.177mn. It also issued 225,813,513 warrants for the subscription which will entitle the purchaser to 225,813,513 new ordinary shares at an exercise price of 2.5 pence per warrant, within a 24-month period. The realised proceeds will be utilised towards the advancement of exploration projects primarily in the Peterson region of Western Australia including Scallywag and high-priority targets recently discovered at Paterson Range East. The company has nominated Numis Securities Ltd as a joint broker for the issue. The total amount raised by SI Capital and Numis Securities Ltd has increased Greatland's cash position to about £6.4mn. The newly issued shares are expected to be admitted to the AIM segment of the London Stock Exchange with effect from August 27, 2019.

Gervaise Heddle, Chief Executive Officer | Greatland Gold Plc- Statement

The Chief Executive Officer of Greatland Gold Plc commented in the exchange filing that, "the company welcomes the kind of support shown by existing shareholders and is glad to have new institutional investors and HNIs investors in the company. The support extended by them reflects remarkable progress the company has made over in the past twelve months." He also added that "the company has gathered exciting results through our 2019 exploration programme, driven by strategic decision to ramp up our exploration operation primarily at Peterson region. With the increase in our exploration backed with decent first drill results from Newcrest at Havieron, the company is looking forward speedily on many fronts, and we look forward to providing further updates on our progress."

Stock Performance

Daily price chart (as on August 13, 2019), before the market close. (Source: Thomson Reuters)

The outstanding market capitalisation of the company stood at £59.79mn with 3.32 bn shares on issue. While writing (before the close, at 07:49 AM GMT), shares of the Greatland Gold Plc were trading at GBX 1.805 and gave up more than 2% in day's session. In the past 52-week time period, its shares have touched a high of GBX 2.55 and a low of GBX 0.98 respectively. At the current market price, the company's shares were trading approximately 29% below its 52-week high price level and approximately 29% above the 52-week low price level, respectively. On a YoY basis, the stock has delivered a price return of 52.32%, and in the past three months, the stock was up by 8.7%. Also, at the current market price, shares were quoting well above its 200-day and 60-day simple moving average prices. However, shares were quoting marginally below its 30-day simple moving average price. The average daily volume for the past 5-day on the London Stock Exchange was about 15% below the 30-day average daily volume traded in the stock. Also, the 14-day and 9-day RSI of the stock was hovering in the neutral zone.

CORA GOLD LTD

Alternative Investment Market-listed Cora Gold Ltd (LSE: CORA) is the British Virgin Islands headquartered gold mining company. It is operating Mali and Senegal, the in two world-class gold regions situated in West Africa. On October-09-2017, the company got listed on the AIM segment of the London Stock Exchange It is a constituent of the FTSE AIM All-Share – Basic Resource. City Financial Investment Co. Ltd., Mole Valley Asset Management Ltd. and Webb Capital Asset Management Ltd. are the major institutional investors in the company. (Source: TR)

Recently in the exchange filing made by the company as on August 07, 2019, the company confirmed that further gold mineralisation at its Selin prospects, Sanankoro. It mentioned that oxide gold mineralisation was traced for approximately 2,250m at surface and oxide gold mineralisation  extends to up to 90metere at the southern part of the prospects, which included 25m @ 2.81g/t (AU), 19m @ 1.61g/t Au and 9m @ 2.37 g/t Au respectively.

In the statement it also recorded that, it has identified potentially economic interest to the North of the Bokoro North artisanal pit.

Stock Performance

 Daily price chart (as on August 13, 2019), before the market close. (Source: Thomson Reuters)

While writing (at 09:06 AM GMT, before the market close), shares of the CORA were quoting at GBX 9.65/share and added approximately 8.96% in the day’s session. In the past 52-weeks’ time period, CORA GOLD LTD shares have touched a high of GBX 16.50 and a low of GBX 2.70, and at the current market price shares were trading at approximately 257% above the 52-week low price level. The outstanding market capitalisation of the company stood at £8.44mn, with 101.11mn shares on the issue.

KATORO GOLD PLC

Alternative Investment Market-listed Katoro Gold Plc (LSE: KAT) is a United Kingdom-headquartered gold mining company. It is engaged in developing its gold projects in the Lake Victoria Goldfields region-Tanzania. On April-27-2015, its shares got listed on the AIM segment of the London Stock Exchange.

Recently, in an exchange filing made by the company as on July 29, 2019, with LSE, the company provided an update on the portfolio of its two gold projects in Lake Victoria Goldfields, Tanzania. An internal study completed by the company over recent months has confirmed the upside exploration potential, across both the Imweru and Lubando gold projects. The Company has received expressions of interest concerning the acquisition or joint venture in the projects, and although, to date, no suitable agreement has been reached, there has been an evident appreciation in the unexploited value of the Projects. Given the strengthening of the gold prices to approximately US$1,400 an ounce and based on the level of interest being shown in the projects, the company has decided to investigate the scope and cost for further exploration programmes at Imweru and Lubando. If successfully executed, this could increase the potential of the prospects to an initially estimated resource base of one million ounces of gold. The company believes the best opportunity to add near term value is to build the Projects' resource inventory, with first phase target of 1 million ounces, which signifies a moderate 32% hike from the current resource base.

Stock Performance

 Daily price chart (as on August 13, 2019), before the market close. (Source: Thomson Reuters)

While writing (before the market close, at 10:00 AM GMT), shares of the KAT was quoting at GBX 1.55/share and trading flat against the previous day's closing price level. In the year-ago period, shares have touched a 52-week high of GBX 1.65 and a 52-week low of GBX 0.31 respectively. At the current trading level, the stock was trading 400% above the 52-week low price level and marginally below the 52- week high price level. Also, at the current market price, shares were quoting substantially above its 200-day, 60-day and 30-day simple moving average price, which reflects a steep uptrend in the stock price. On a YTD basis, the stock was up by approximately 129.63% and added 29.17% in the past five trading sessions. However, 14-day, 9-day and 3-day RSI levels reflect that the stock has entered a substantial overbought zone. The outstanding market capitalisation of the company stood at £2.63mn, with 169.56mn shares on issue.

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