Bw News

 15 October 2021 

Welcome...

 

In this month’s Big Picture, we address some of the biggest talking points from the past few weeks: Squid Game, Adele’s new single and the energy crisis that has rocked the UK. We also give an overview of Good Club, the online zero-waste supermarket, and its Crowdcube fundraise.

October has been an eventful month for Blytheweigh, with the release of our two-part roundtable series: ‘Driving the rEVolution’ involving  companies either producing or developing the metals and minerals which are being used for the green revolution. You can view part one (which featured Nigel Robinson, CAML, Jeremy Wrathall, Cornish Lithium, Tim Harrison, Ionic Rare Earths and Anne Oxley, Brazilian Nickel) here, and part two (featuring Dan Bloor, Livista, William Dawes, Mkango resources, Richard Williams, Cornish Metals and John Meyer, SP Angel) here.

If there’s anything we share in the Big Picture that you’d like to know more about, please get in touch by emailing info@blytheweigh.com or  contact us on Twitter - @blytheweigh.

Industry Snapshot...

Frustratingly, when the Blytheweigh team came together for our Strategy Day earlier this month only two of us had been watching the series that has been announced as Netflix’s biggest ever launch, otherwise it’s safe to say we would have spent a considerable amount of time discussing the Korean language thriller, Squid Game. It’s been so hyped, it is always tempting to a) avoid it or b) accuse it of being over-hyped, however, the two members of Blytheweigh (and film review website, Rotten Tomatoes, if you need more convincing, which has rated it 91%) have agreed it is an unmissable, unpredictable, incredibly compelling watch. The series, which reached number one on Netflix in over 90 countries including Brazil, the UK and the US, has come with its fair amount of fanfare: the platform has been sued by South Korean Internet Service due to the increased internet traffic it received due to viewers clambering to stream the programme and one of the leading actresses, HoYeon Jung, received 18 million new Instagram followers in just one week,  to name just two of the headlines it has received recently.

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It has been impossible to avoid the UK’s energy crisis in conversations over the last month. After Covid-19 and Brexit dominating headlines, it was time for a new crisis to absorb public  attention, and this time it was surging gas prices. The wholesale price of gas more than tripled the levels they stood at last year, as a result of a multi-pronged strike of depleted European stocks after a long winter, lower gas supplies from Russia, and high demands for Liquified Natural Gas from Asia, among other factors. When considering that the UK relies on burning fossil fuels for half of its electricity supply, the issue was compounded by maintenance on nuclear power plants, the shut down of a main power cable that supplies electricity from France and limited power from wind turbines due to low wind levels this year. The gas crunch was also worsened by the fact that the UK has a significantly smaller gas storage facilities than the rest of Europe and relies on imports from other countries.

The crisis has led to predictions that household bills will rise by 12%, supermarket shelves will be empty due to a lack of the dry ice needed to store meat products and the real possibility that some households will face the choice between heating and eating.

Also in the news this month was a new service being developed by Change Please to help London’s homeless through repurposed buses that will provide direct support aimed at the 3,000 people a year who sleep rough. The project will provide GP consultations, on-site dental care, haircuts, showers, and help with setting up bank accounts and finding employment opportunities. The project, named ‘Driving for Change’ which will cost £22,000 per month to run, is aimed at addressing the barriers that can hinder people leaving the streets such as low confidence and low self-belief, factors which can be improved through the availability of showering facilities, haircuts and dental care; access to a bank account which allows them to claim benefits and rent accommodation; and health problems, which will also be addressed by this service.

Blytheweigh zooms in… on the soundtrack to our days

Unless you’ve been on another planet over the last week, you’ll have heard Adele’s new song, either first-hand or through the warbling of a friend, family member or passer-by. The monumentally successful artist - her album, 21, is the 21st century’s best-selling album - who has 15 Grammy awards adorning the fireplace (downstairs loo/purpose-built cabinet – it’s anyone’s guess) in her Beverly Hills mansion, is back with a new album following five years of near silence. Whether or not she’s your cup of tea, Adele hasn’t been one to fall into the rhythm of so many artists who churn out album after album, all completely indistinguishable from each other. This album, like its predecessors, has been reportedly moulded by her own recent heartbreak (Adele has been married and divorced since her last album) and is likely to be the soundtrack to any emotional turbulence millions of people over the world endure over the coming years.

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The latest chapter in Adele’s emotionally turbocharged ‘shampoo in hand, solo shower performance’ collection of albums got the Blytheweigh team talking about the albums that we find ourselves reaching for time and time again:

Megan wasn’t forthcoming with a concrete answer, but did mention Now 51, so whether in jest or not, the first answer has been accepted.

Said was on holiday at the time of writing: We’re going to reliably assume it is something written by The Weeknd.

 

Sarah hmmed and aahed, but eventually landed on Hot Fuss by The Killers or Rumours by Fleetwood Mac, because they “objectively slap”.

Alice opted for Kind of Blue by Miles Davis. When justification was requested, Alice simply said: “Because it is objectively one of the best albums ever recorded”.

There were some comparatively contemporary entries of Swimming by Mac Miller from Maddy and Without Fear by Dermot Kennedy from Alastair.

For Naomi, it was a tossup between Stripped by Christina Aguilera and These Streets by Paolo Nutini. It wasn’t an originality contest.

A focus on... Good Club launches Crowdcube fundraiser 
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Good Club, the online zero-waste supermarket, launched a fundraiser this month on Crowdcube to raise a target of £1 million. The crowdfunding nature of the fundraise allows Good Club’s customers to have an opportunity to be a part of the company’s growth.

Good Club is an online supermarket which delivers zero waste and sustainable groceries and household staples to customer’s doors. Its Zero Waste range of products are delivered in reusable product containers in reusable delivery boxes. All of Good Club’s deliveries are sent via carbon neutral courier and are picked up the following day.

The damage caused by plastic pollution is often associated with oceans and marine life. However, it is becoming evident that plastic and grocery packaging pollution also creates a vast amount of carbon dioxide.

In 2020, the Intergovernmental Panel on Climate Change set a carbon budget which should be kept to in order to contain global warming within 1.5 degrees centigrade of pre-industrial levels. It is estimated that plastic packaging of groceries alone accounts for 3 per cent of the remaining global carbon budget.

Good Club’s analysis shows that deliveries using their new returnable system versus single use packaging and cardboard boxes will reduce the carbon footprint of an ecommerce delivery by 80 per cent and remove millions of pieces of single use plastic from the supply chain.

Good Club intends to use the funds raised to improve its processes and its operational site, creating new efficiencies, and improving the service. The company will also be extending its Zero Waste range, expecting  more than 50 per cent of sales to be in that range by mid-2022.

Client Reel...
 

The following updates were released from Blytheweigh clients from 15 September – 15 October.

Interim results were reported this month by: Cornish Metals (view release), Pharma C Investments (view release), All Star Minerals (view release), Amur Minerals (view release), Arkle Resources (view release) and Apollon Formularies (view release).

 

All Star Minerals [AQSE:ASMO] announced the retirement of Mr Graham Mascall from the Board with immediate effect (view release). It then announced details of its Annual General Meeting that will take place on 5 November 2021 (view release).

 

Apollon Formularies plc [AQSE: APOL] started its month with the news that it had expanded its production facility in Negril, Jamaica, deepening its future product offering and improving product storage (view release).

 

Bluejay Mining [AIM:JAY] announced  the approval and extension of further exploration expenditure by the company's joint venture partner Rio Tinto Mining and Exploration Ltd at the Enonkoski nickel-copper-cobalt project (view release).

Botswana Diamonds [AIM:BOD] shared that it had successfully completed its nine hole drilling programme on the Thorny River property in South Africa (view release). The company had some further, significant news as it announced it was exercising its pre-emption right to acquire control of Vutomi, that holds the mineral rights of the Thorny River Project, giving the BOD the opportunity to develop the Project (view release). At the start of October, the company also announced that Prospecting Licences PL232 and 235 of 2015 of Sunland Minerals Pty Ltd, a wholly owned subsidiary of Botswana, had been renewed (view release).

Caledonia Mining [AIM: CMCL]  announced that it had entered into an agreement to purchase the mining claims over the Maligreen project, a property situated in the Gweru mining district in the Zimbabwe Midlands, for a total cash consideration of US$4 million. The property is estimated to contain a NI 43-101 compliant inferred mineral resource of approximately 940,000 ounces of gold (view release). It later declared an increased quarterly dividend of 14 United States cents (US$0.14) on each of the company's shares (view release). It later announced the gold production from the Blanket Mine for the quarter ended September 30, 2021 along with news that it had narrowed the production guidance range for 2021 (view release).

 

Central Asia Metals [AIM: CAML] provided a Q3 2021 operations update (view release).

Also this month, drilling had been completed and all assay results returned from exploration drilling by Condor Gold [AIM:CNR] at its Cacao Prospect (view release). The Company also revealed that the first phase of infill drilling had been completed on the Mestiza Open Pit and all assay results received (view release).

Cloudbreak Discovery Plc [LSE: CDL] announced it had identified an exploration partner in 1315956 BC Ltd, for its South Timmins Project, which is targeting lode gold mineralisation (view release). It later reported that an  exploration programme on the five recently staked Northwestern British Columbian polymetallic projects had commenced. This will represent the first field work Cloudbreak will conduct on these projects (view release).

Cornish Lithium shared that it had strengthened its management team with the appointment of two new senior team members, Patrick Forward as Head of Project Development – Hard Rock Minerals, and Henry Chalcraft as its Land Agent (view release).

Cornish Metals [AIM:CUSN] announced the appointment of Mr. Stephen Gatley to the Board of Directors as an independent non-executive Director (view release). The company also reported an update on its agreement with Galena Special Situations Limited Tin Shield to restructure the deferred consideration to be paid to the Sellers on the acquisition of the South Crofty tin project and associated mineral rights in 2016 (view release). It later announced that it had added a second drill rig to its ongoing 8,000 - 9,000m drill programme at United Downs, Cornwall, UK (view release).

ECR Minerals [LON:ECR] announced the appointment of Dr Trevor George Davenport as an Independent Non-Executive Director of ECR Minerals plc, with immediate effect (view release).

European Metals [AIM:EMH] shared its Corporate Governance Statement (view release). It later shared its annual results for the year ended 30 June 2021 (view release) as well as a significant update from its Cinovic lithium project, revealing final drill results and an upgraded mineral resource estimate for the lithium and tin resources at the deposit (view release).

Griffin Mining [AIM:GFM] announced production results for the three months to 30 September 2021 (view release).

 

Ionic Rare Earths [ASX: IXR] reported results from Tranche 1 of its Phase 4 drilling programme, confirming notable thick, high-grade and near surface intervals of ionic absorption clay hosted REEs (view release). Ionic then went on to announced a summary of its Scandium resource and the key applications the metal could have in the aerospace, automotive, and defence sectors (view release).

 

The CBD and hemp product supplier, Love Hemp Group PLC [AQSE: LIFE], announced it had received its initial order from Amazon (view release).

Mkango Resources [AIM: MKA] provided an update at its Songwe Hill Rare Earths project. Its management team, as well as leading Malawian geotechnical engineering firm, Geoconsult Limited, and Zutari Limited, a geotechnical engineering firm which is based in South Africa, were on site at the development project to commence a major geotechnical drilling and pitting programme (view release). There was an exciting update from Mkango Resources [AIM:MKA] had it shared that HyProMag and partners, European Metal Recycling Limited and University of Birmingham had successfully completed the previously announced REAP project, where rare earth magnets from loudspeakers in vehicles and flat screen TVs were recycled (view release).

National Milk Records [AQSE:NMR], the established agri-tech information services provider in UK dairy sector, published its audited accounts for the year ended 30 June 2021 (view release).  

Another gold exploration Company, Oriole Resources [AIM:ORR], provided an update on its Senala project in Senegal, stating that the remaining results from the ongoing programme, as well as initial results for the Phase 2 RC drilling at Madina Bafé had been completed (view release).  The company also announced it had conditionally raised £1.77 million before expenses, which would go towards supporting ongoing exploration at the company's projects in Cameroon for ongoing work at the Company's 3,592 km2 Central Licence Package (view release). There was also an update from the Company’s Thani Stratex Djibouti Exploration activity where Diamond Drilling Results from Assaleyta and Hesdaba showed best intersections of 17.37m grading 3.59 g/t gold and 10.75m grading 26.27 g/t gold, respectively (view release). It then went on to announce an update from its Central Licence Package, where results for the three easternmost licences, Pokor, Ndom and Mbe had been received (view release).

 

President Energy [AIM: PPC] announced an update on various of its activities including: the ATOME spin off, the commencement of the mobilisation for Puesto Guardian, Louisiana production, Paraguay farm-out,  and the share premium account (view release).

The USA focussed base and precious metals emerging producer, Phoenix Copper [AIM:PXC], shared an update on the company's recent activities in Idaho, as it makes further progress towards bringing its assets into operation (view release).

Thor Explorations [AIM:THX] made the exciting announcement that commercial production had been achieved at its wholly owned Segilola Gold Mine located in Osun State, Nigeria (view release).

Walkabout Resources [ASX:WKT] announced an update on its Lindi Jumbo Project (view release).

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