Neometals (ASX / AIM: NMT)

Announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.

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Comment

I am not surprised to read that NMT are delisting from AIM, it makes sense given the low liquidity in the stock in London, and lack of  investor awareness of the company on this side of the world.

Despite presenting in London with us several times, I haven’t read much about the company over here. Where was the follow through from the broker after listing here to raise awareness of the company?

The lack of broker follow through is a major reason for companies becoming unhappy at their AIM listing, and perhaps the reason why 92, (93 now) companies have delisted during 2024.

Neometals is wisely reducing its costs by delisting from a market where they have had virtually no promotional support, and as a result have to pay all the associated costs of the listing with little to no benefits.

AIM is quickly dying, city greed is killing it in my opinion.

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Neometals Announces Intention to Delist From the London AIM Market

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Neometals (ASX / AIM: NMT) announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.

The company expands on its reasoning for the decision,

• The challenging conditions which have impacted the UK market since its admission to trading on AIM in 2022, which have made it challenging to raise capital in the UK.

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• The low levels of liquidity and trading volumes in Neometals’ shares on AIM, with shares represented by DIs accounting for less than 1% of Neometals’ issued share capital.

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• The cost of maintaining admission to trading on AIM, including professional fees, listing fees payable and incremental legal, auditing and insurance fees.

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• The considerable amount of management time and regulatory burden associated with maintaining the company’s admission to trading on AIM, in addition to the ASX listing.

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Live metal prices can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds no shares in Neometals.

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City Investors Circle

The Australian and UK stock markets are closed today.

Canada and the USA markets are open.

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City Investors Circle

The Australia ASX and all UK stock markets are closed today.

The Canadian and USA stock markets are open, with normal trading hours.

All markets are open on Tuesday 2nd April.

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Mining Review 17th March 2024

News from Calidus Resources dominated the news this week, as they requested their stock be halted on the ASX, and then the ASX announced CAI was suspended from quotation.

The company announced a financial restructuring, which has some investors nervous about a potential downgrade of the stock upon its return to trading.

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Metal Investor Forum Toronto 2024

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City Investors Circle Mining Review 17th March 2024

News from Calidus Resources dominated the news this week, as they requested their stock be halted on the ASX, and then the ASX announced it was suspended from quotation.

The company announced a financial restructuring, which has some investors nervous about a potential downgrade of the stock upon its return to trading.

Calidus have struggled repaying debts whilst also delivering into a hedge book, so a recapitalisation of some sort was clearly needed. What we don’t know is the form it will take, and what dilution effects there may be.

I suspect some sort of debt for equity swap, but those are always painful. I would hope that they might be able to stretch out the hedge by a couple of years to lower the monthly loss whilst gold prices are so high, and restructure the debt to something more manageable, enabling the company to make money.

A fairly quiet week otherwise, it’s always quiet on the drilling front after PDAC as so many announcements are made before that event.

Cartier Resources brought out some much needed drill results at Chimo, high grade but a short interval, and Orla Mining announced the extension of oxide mineralisation at South Railroad in Nevada.

This week’s announcements from our watchlist companies are below, click on the link to be taken to the full story.

  Calibre Mining Delivered Fourth Consecutive Year of Reserve Growth

  Calidus Resources Suspended from Quotation

  Orla Mining Drills Oxide Mineralization at South Railroad

  Calidus Resources Stock Halted

  Cartier Resources Cut 13.2 G/T AU Over 2.3 M at Chimo

  Karora Resources Announced 2024 Gold Production Guidance

  Mining Review 10th March 2024

Market Data

Weekly Price Changes

(US$ unless stated)

Metal Prices

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Calidus Resources (ASX: CAI)

the ASX announced that pending the release of an announcement regarding the restructure of CAI’s debt and hedge book with its financier and a capital raising.

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Calidus Resources new solar and battery farm at the Warrawoona Gold Mine, WA.

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Market Announcement
15 March 2024
15 March 2024 Market Announcement 1/1

ASX Limited ASX Customer Service Centre 131 279 | asx.com.au

Calidus Resources Limited (ASX: CAI) – Suspension from Quotation

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Description

The securities of Calidus Resources Limited (‘CAI’) will be suspended from quotation immediately under Listing Rule 17.2, at the request of CAI, pending the release of an announcement regarding the restructure of CAI’s debt and hedge book with its financier and a capital raising.

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Issued by
ASX Compliance

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To read the full news release, please click HERE

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Australian Stocks

Stocks rose strongly on the ASX on the first day of trading in the new tax year.

June is normally a poor month as investors realise tax losses.

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Stock Prices Strong on First Day of Trading in New Tax Year in Australia.

Stocks rose strongly on the ASX on the first day of trading in the new tax year.

June is normally a poor month as investors realise tax losses.

Gold Road Resources was up around 3.6% and one of the biggest risers on the day, followed by Northern Star and De Grey Mining.

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Bardoc Gold Limited (ASX: BDC)

Advised that recent drilling at the North Kanowna Star Project, which forms part of the Company’s 3.07 M oz Bardoc Gold Project near Kalgoorlie, has identified a significant mineralised corridor, with more than ten prospects now identified as high priority for further exploration.

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Bardoc Gold project map, near Kalgoorlie, Western Australia

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BARDOC GOLD  – OUTSTANDING RESULTS UPGRADE POTENTIAL OF NORTH
KANOWNA STAR CORRIDOR

More than ten high priority targets identified, with positive assays also received
from Bulletin South.

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Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to advise that recent drilling at the North Kanowna Star Project, which forms part of the Company’s 3.07Moz Bardoc Gold Project near Kalgoorlie, has identified a significant mineralised corridor, with more than ten prospects now identified as high priority for further exploration.

The 100%-owned North Kanowna Star Project is located 29km south-east of the Bardoc Gold Project and has a current Mineral Resource of 32koz at the Perseverance-Wedge Deposit.

These latest results have significantly upgraded the potential scale of the North Kanowna Star district, which is now considered to be comparable to the +1Moz Zoroastrian-Excelsior corridor.

Key Points:

• Final assaysfrom exploration drilling at the North Kanowna Star Project have returned significant gold mineralisation in fresh rock, with highlights including:
− 9m @ 2.45g/t Au from 61m in NKC210017
− 1m @ 18.0g/t Au from 47m in NKC210001
− 3m @ 5.63g/t Au from 69m in NKC210019
− 1.2m @ 13.6g/t Au from 35.8m in NKD210002
− 13m @ 1.03g/t Au from 26m in NKC210024
− 2.4m @ 5.53g/t Au from 44.4m in NKD210003
− 8m @ 1.65g/t Au from 32m in NKC210037
− 7m @ 1.45g/t Au from 28m in NKC210041
− 1m @ 2.88g/t Au from 43m in NKA210043
− 3m @ 1.10g/t Au from 32m in NKA210041
• Latest results indicate more than ten high priority targets within the North Kanowna Star district, significantly upgrading the potential scale of the project.
• Positive results, including visible gold, from infill core drilling at Bulletin South, with best results of:
− 22.9m @ 2.31g/t Au from 68.7m in KND210004
− 14.6m @ 1.11g/t Au from 103.5m in KND210005

A Strategic review of the Bardoc Gold Project is ongoing.

Bardoc Gold Managment Comments

“North Kanowna Star was emerging as an exceptional longterm exploration target.

 

“The scale of the alteration and mineralisation across the North Kanowna Star project area is truly exceptional, extending over more than 3km in length, similar in strike to the Zoroastrian/Excelsior corridor that forms the backbone of our 3.07Moz Bardoc Gold Project.

 

“North Kanowna Star is emerging as a long-term exploration project, where we see an opportunity to delineate substantial new Resources with the potential to provide strong additional value to the Bardoc Gold Project.

 

“Our exploration team has identified more than ten high priority prospects, with technical work now underway to integrate the geological, geophysical and geochemical data to rank the prospects and develop follow-up exploration programs.”

Bardoc Gold’s Executive Director, Neil Biddle.

North Kanowna Star

The North Kanowna Star Project contains multiple prospects over a 3km strike. The presence of strong gold anomalism over such a large area makes it a highly-significant location within the local geological landscape.

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To read the full Bardoc Gold news release, please click HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Disclosure

The writer holds stock in Bardoc Gold, bought in the market at the prevailing price on the day of purchase

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