Upstream Share Discussion Threads

[master rsi] 08/4/2024 12:20

How the UPS are performing during last month

[master rsi] 08/4/2024 12:17

How the UPS are performing today

[master rsi] 08/4/2024 11:23

Serabi Gold reports progress at Palito complex / Serabi Gold were down 3.6% at 67p.
(Sharecast News) - Serabi Gold updated the market on its regional exploration campaign at the Palito complex in the Tapajos region of Para State in northern Brazil on Monday, reporting significant progress and findings.

The AIM-traded firm said the induced polarisation (IP) programme conducted in December over the São Domingos property identified a substantial chargeability anomaly measuring one kilometre long by 0.25 kilometres wide.

That anomaly, which underlay several areas of artisanal activity, showed promise for potential mineral deposits.

Following up on that discovery, a wide-spaced auger programme was undertaken, with holes spaced about 100 metres apart and reaching depths of up to seven metres.

Notable intercepts from the programme included one metre at 18.46 grams of gold per tonne, two metres at 0.18 grams of gold per tonne, and several others, indicating the presence of gold mineralisation in the area.

Furthermore, significant progress was reported in interpreting the extensive soil geochemistry database, covering over 70% of Serabi's permit portfolio.

That effort led to the identification of multiple geochemical alteration systems, including the Copper Hill, Ganso, and Calico targets, among others.

Recent drilling at the Ganso Target, located 13 kilometres northeast of the Matilda copper target, suggested the presence of an upper alteration zone typical of a copper porphyry system, opening up new possibilities for both epithermal gold and porphyry copper-gold mineralisation.

Moreover, recent diamond drilling at the Matilda target demonstrated mineralisation extending to over 150 metres depth, with the final hole intercepting significant mineralisation, including 144 metres at 0.26% copper and 0.06 grams of gold per tonne, and 32 metres at 0.40% copper and 0.10 grams of gold per tonne.

"The new IP geophysics and soil geochemistry results, combined with the historic high-grade results from 2021, make São Domingos a highly compelling target," said chief executive officer Mike Hodgson.

"This new data set has helped us understand better the past successful drilling results of 2021.

"We have revised our initial geological interpretation and are a significant step closer to identifying the source that has supported extensive artisanal workings in the area."

Hodgson said Serabi had only just started "unlocking" the potential of the district, adding that the discovery of the alkalic porphyry style copper-gold deposit at Matida was highly significant for the district and for the company.

With more targets defined, he said the firm was conscious of the need to continue focussed exploration with the objective of demonstrating the viability of at least one target.

"Whilst Vale have, during this week, informed us that they wish to withdraw from the exploration alliance, we do have a number of other groups keen to partner with us on the exploration for copper mineralisation.

"We remain excited, and these other companies seem to share our optimism, for discovering commercial copper porphyry mineralisation in our Tapajos tenements.

"We have very much enjoyed working with Vale and from Serabi's perspective achieved a key objective of significantly advancing our understanding of Matilda as well as identifying other potential targets for copper porphyry mineralisation during the past 12 months."

[master rsi] 08/4/2024 10:53

BOOM 162.50p +12.50p

Moving higher ahead of Q1 next Monday

[master rsi] 08/4/2024 10:41

Bango up on solid 2023 performance and "increased momentum"
Shares in Bango were up 17% to 124.98 pence each in London on Monday morning.

(Alliance News) - Bango PLC shares rose on Monday, as the company reported a significant increase in revenue for 2023 and progress on the integration of DOCOMO Digital.

The Cambridge, England-based digital payment solutions provider said its pretax loss was USD10.2 million in 2023, widened significantly from a loss of USD4.8 million in 2022.

This was despite Bango delivering USD46.1 million revenue in 2023, up 62% from USD28.5 million in 2022.
Adjusted earnings before interest, tax, depreciation and amortisation rose 28% to USD6.4 million from USD5.0 million.

However, Bango said this was below market expectations for the full year, due to around USD3 million in delayed revenues and integration costs from the 2022 acquisition of DOCOMO Digital, the global payments business formerly owned by Tokyo-based phone operator NTT DOCOMO Inc.

The integration of DOCOMO Digital has progressed well, Bango said, with USD21 million in cost synergies realised during the year.

Losses per share widened to 11.51 cents from 2.81 cents.
Administrative expenses were up 48% to USD44.8 million from USD30.3 million.

Bango has also agreed to wind down its NewDeep Ltd joint venture with NHN Corporation, and to "transfer the technology developed in the joint venture to Bango and NHN so both can use it without restriction in their respective core businesses."

[master rsi] 08/4/2024 10:16

Rents are through the roof, but think tank cites surprising causes
Proactive Investors - The Resolution Foundation has allayed private landlords of blame for rising rent prices, instead pointing the finger at earnings growth and “post-pandemic readjustment”.

In a report titled ‘Through the Roof’, the independent think tank, citing ONS data, showed that private rent prices have risen by 15% since January 2022 and are rising at their fastest pace on record.

Pushing back against “popular theories about the rise”, the foundation suggested that the private rental sector (PRS) has seen only a modest decrease in size, suggesting that landlords leaving the market en masse are not driving up rents significantly.

Rising costs for Buy-to-Let mortgages have been suggested as a factor for the rent hikes, but this doesn't fully explain the trend as 38% of landlords have no debt, the report said.

It stated: “Some have been keen to pin the blame for recent rent rises on the rising costs of servicing Buy-to-Let mortgages, which landlords have passed on to tenants.

“Many landlords will have wanted to recoup those higher costs (although it should be noted that 38 per cent of landlords hold no debt), but it’s just not the case that the UK’s landlords can unilaterally set prices: although there are clear power imbalances in landlord-tenant relationships, the ability of landlords as a whole to increase prices is constrained by the wider rental market.

“If this weren’t the case, then landlords would have been increasing rents long before the recent rise in interest rates.”

Looking forward, while rent growth for new tenancies is expected to cool, the overall rent paid by renters is predicted to continue rising, potentially outstripping earnings growth.

The report suggests a convergence back to the pre-pandemic rent-to-earnings ratio by the fourth quarter of 2026. This means overall rents could see 13% growth over the next three years, compared to the 7.5% earnings growth expected.

Regardless of the determining factors, there is little doubt that escalating rent prices will heap further pressure on households following the bruising cost-of-living crisis.

[master rsi] 08/4/2024 09:45

Gold prices hit record highs above $2,350 even as rate cut bets ease
Gold prices surged to record highs in Asian trade on Monday, shrugging off easing bets on U.S. rate cuts as safe haven demand for the yellow metal remained buoyant ahead of more cues on the U.S. economy.

A rally in gold persisted even as technical indicators showed the yellow metal was squarely in overbought territory- a scenario that usually indicates limited upside potential.

But spot gold jumped as much as 0.7% on Monday to a record high of $2,353.81 an ounce, while gold futures expiring in June rose 0.8% to a record high of $2,372.45 an ounce.

Gold shrugs off easing rate cut bets, CPI data awaited
Gold prices rose as the dollar showed limited reaction to a blowout nonfarm payrolls report for March.

The report, released on Friday, showed the U.S. labor market remained strong. Such a scenario gives the Federal Reserve little impetus to begin trimming interest rates early.

But the dollar showed little strength after the reading, offering gold some more headroom to push higher. Uncertainty over U.S. rates also remained in play ahead of key consumer price index inflation data, due this Wednesday.

Traders were seen largely scaling back bets that the Fed will cut rates by as soon as June, the CME Fedwatch tool showed.

But worsening global geopolitical concerns also kept safe haven demand for gold alive. The Russia-Ukraine war continue to rage on, with new strikes on the Zaporizhzhia nuclear plant causing some alarm.

In the Middle East, concerns over a war between Iran and Israel also remained in play, although Israel was seen holding some peace talks with Hamas in Egypt.

Other precious metals advanced on Monday. Platinum futures rose 0.1% to $941.70 an ounce, while silver futures rose 1.&% to $27.965 an ounce.

Copper price edge lower from 15-mth highs
Among industrial metals, copper prices fell slightly on Monday, seeing mild profit-taking after surging to 15-month highs last week.

Three-month copper futures on the London Metal Exchange fell 0.2% to $9,333.50 a ton, while one-month U.S. copper futures fell 0.3% to $4.2287 a pound.

Copper was boosted by a string of positive economic readings from top importer China, which showed business activity in the country was picking up.

The prospect of tighter refined copper supplies also boosted prices after top Chinese refiners signaled potential production cuts.

More economic data from China is due later this week, particularly inflation and trade figures for March.

[master rsi] 08/4/2024 09:29

MARKET REPORT
LONDON MARKET OPEN: FTSE 100 slips in tepid trade before US data, ECB

(Alliance News) - London's FTSE 100 traded a touch lower in early dealings on Monday, in cautious trade as investors anxiously await Wednesday's US inflation report.

The FTSE 100 index opened down 9.32 points, 0.1%, at 7,901.84. The FTSE 250 was down just 0.09 of a point at 19,725.85, while the AIM All-Share added 2.43 points, 0.3%, at 742.48.

The Cboe UK 100 declined slightly to 789.88, the Cboe UK 250 was flat at 17,147.25, while the Cboe Small Companies was down 0.1% at 14,665.47.

The CAC 40 in Paris and Frankfurt's DAX 40 each added 0.3%.

In Tokyo on Monday, the Nikkei 225 closed up 0.9%. The Shanghai Composite fell 0.7%, while the Hang Seng in Hong Kong was down 0.1% in late trade. The S&P/ASX 200 in Sydney added 0.2%.

In New York on Friday, the Dow Jones Industrial Average rose 0.8%, the S&P 500 added 1.1% and the Nasdaq Composite surged 1.2%.

The gains came on the back of a robust US jobs report. According to the Bureau of Labor Statistics, nonfarm payroll employment rose by 303,000 in March, higher than the FXStreet-cited consensus of 200,000.

The figure for February was revised down by 5,000, from 275,000 to 270,000 while January's total was adjusted upwards by 27,000, from 229,000 to 256,000. This means employment in January and February combined was 22,000 higher than previously reported.

Focus this week turns to a US inflation reading. Data on Wednesday is expected to show that the rate of US annual consumer price inflation picked up to 3.4% last month, from 3.2% in February, according to FXStreet cited consensus.

The pound was quoted at USD1.2626 early Monday, rising from USD1.2621 at the time of the London equities close on Friday. The euro was flat at USD1.0830 against USD1.0831. Against the yen, the dollar climbed to JPY151.84 from JPY151.54.

Analysts at Dutch bank ING said the "dollar should be doing better".

"It is a little surprising to see EUR/USD trading above 1.08 despite a strong US jobs report for March. Could investors be waiting for Wednesday's release of the March US CPI data before taking the dollar on another leg higher? For the week ahead, the US CPI number will dominate," ING added.

"Currently, the market prices just 62bp of Fed easing this year, and a terminal rate for this easing cycle at 3.65%. The risks are clearly skewed to the market just pricing 50bp of Fed easing this year, pointing to the dollar staying stronger for longer."

The European Central Bank announces its latest interest rate decision on Thursday. It is expected to leave rates unmoved, but focus will be on any clues on rate cut timing.

Deutsche Bank analysts commented: "The big question is likely to be what they signal about the subsequent meeting in June, which investors are pricing in as a very strong probability for an initial rate cut. Indeed, we found out last week that Euro Area core inflation fell to a two-year low in March of 2.9%, and the account of the last ECB meeting said that 'the case for considering rate cuts was strengthening'.

"Our European economists think that the ECB needs additional data over the next couple of months to underpin its confidence in price stability and open the door for a June rate cut. But they think it should be clear that a June cut is the working assumption, barring a significant shock."

In London, Entain shares shot up 3.4%, after The Sunday Times reported the Ladbrokes owner is considering its options for a number of assets amid a strategic probe.

The newspaper, citing sources, also reported that Entain could name its next chief executive at "any time in the coming days and weeks".

The bookmaker has called on investment bank Moelis to help with a review of its brands. It also owns Coral, Sportingbet and Bwin. The future of "a whole range" of assets are under consideration, The Sunday Times reported, citing sources.

The Sunday Times reported that a number of buyout firms, including the likes of Apollo Global Management and CVC Capital Partners, are watching on with interest. The latter already has a hand in the gambling market, as it owns German bookmaker Tipico.

Also on the up, Fresnillo climbed 0.7%, tracking the gold price higher.

Gold was quoted at USD2,335.01 an ounce early Monday, rising from USD2,325.89 at the London equities close on Friday.

Exness analyst Wael Makarem said bullion could see some weakness ahead, however.

"Gold prices remained on an uptrend overall but could see some correction risks as monetary policy expectations continue to change. Traders continued to monitor US economic data as well as the comments from the Federal Reserve governors. Federal Reserve Chair Jerome Powell stated on Wednesday that the central bank will require more evidence of inflation moving sustainably towards the 2% target before considering interest rate cuts," Makarem said.

Back in London, Cake Box shares added 6.0% as the company predicted annual profit "slightly ahead of market expectations".

The cake maker hailed "further growth" in the second half of its year ended March 31. It expects yearly revenue to rise around 9.0% from GBP34.8 million.

"The group continues to balance cost control whilst investing in its growth areas. We have benefited from the continued stabilisation in the cost of raw materials during the year and have seen further efficiency benefits from previous investment in the business. Consequently, this combined with the increase in revenues means the group expects to report adjusted profits slightly ahead of market expectations," Cake Box said.

Also on the rise, shares in European Green Transition fetched at 10.68 pence shortly after its AIM debut, a rise of 6.8% from its initial public offering price.

The company, which intends to invest in a portfolio of green economy assets in Europe, had a market capitalisation of GBP14.5 million on admission. It raised GBP6.5 million at a price of 10 pence per share.

Chief Executive Officer Aiden Lavelle said: "Today's listing and fundraise is a crucial milestone for EGT. The funds raised will contribute to our existing green economy projects which are intended to support the energy transition across Europe, notably the Olserum rare earth project in Sweden. Additionally, the fundraise will strengthen the company's position to acquire what we believe are distressed and undervalued green economy assets in Europe."

A barrel of Brent oil fetched USD89.87 early Monday, down markedly from USD91.31 late Friday.

[master rsi] 08/4/2024 09:18

HE1 160 v 1.65p +0.30p

going places this morning with 100 M volume already

[master rsi] 08/4/2024 08:26

BTC - Bitcoin

BREAKING $70,000 once again

[master rsi] 08/4/2024 08:16

FTSE

Going nowhere down with 3 points

[master rsi] 07/4/2024 22:21

GGP 6.20p as UT, 6.15p spread

More to come on looking at the Indicators

[master rsi] 07/4/2024 21:51

Best performing shares ( UPS ) during April


Share
Mid
Highest
% Change
Rank


EEE
7.00
8.65
23.57
1


HE1
1.175
1.375
17.02
2


GGP
5.775
6.35
9.96
3


BOOM
247.50
260.00
5.05
4


JOG
164.00
167.00
1.83
5


ARB
13.50
13.50
0.00
6

[master rsi] 07/4/2024 20:24

SUNDAY PAPERS

Top stories

The Sunday Times: Plans to double the pay of the chief executive of the London Stock Exchange Group are dividing big shareholders in what is seen as a key test for City boardrooms and their intent to offer US-style remuneration deals to British bosses.

The Sunday Telegraph: The £6bn sale of Heathrow Airport is at risk of collapse after the Australian investment giant Macquarie ruled out buying a stake in the business.

[apotheki] 07/4/2024 10:00

UPS



Beacon Energy / LSE:BCE



Share price = 0.0575 [mid]



Reason: The upcoming SCHB-2 sidetrack operation. Beacon Energy has confirmed that the rig mobilisation is on track with the rig due to arrive on location in mid-April with the sidetrack operation scheduled to commence the following week.

Now that we are in a new tax year as with other small caps Beacon Energy has all the potential to perform very well share price wise especially given the potentially extremely positive developments mentioned in paragraph one [plus see most recent RNS]

Recommendation: Strong BUY [at these very low share price levels]

[master rsi] 05/4/2024 23:50

Cadence Minerals down 33% on discounted fundraise


Cadence Minerals PLC - investment and development company focused on energy transition minerals - Announces successful fundraise of GBP500,000 through the placing of 16.7 million new shares at a price of 3 pence each. The issue price represents a roughly 43% discount to the company's closing price of 5.25 pence on Thursday. Admission of the new shares to the AIM market of the London Stock Exchange is expected to occur by April 11. Cadence also issues one warrant for each new share, giving subscribers rights to acquire one additional share per warrant held. The warrants are exercisable at a price of 5p each and expire in March, 2025.

Cadence says the funds will help progress its investment in the Amapa Iron Ore project, Brazil. Current priorities at Amapa include completion of a pre-feasibility study, preparation of a revised economic model, and sourcing of working capital to fund ongoing licence requirements.

Current stock price: 3.50 pence per share, down 33% in London on Friday