Daily Brief Energy/Materials: Sprott Physical Uranium Trust, Amman Mineral Internasional, Crude Oil, Graphite One , Bellevue Gold , HighPeak Energy Inc, Imperial Petroleum , ADX Energy Ltd, Ionic Rare Earths, Goliath Resources and more

• Solactive has announced the constituent changes for the Global Uranium & Nuclear Components Index with implementation at the close on 31 July.
• Oklo Inc (OKLO US) and Western Uranium & Vanadium Corp (WUC CN) will be added to the index. Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$486m.
• There are only 4 trading days to implementation of the changes and we’d watch out for big moves on stocks that have more than 2x ADV to trade.

• There is 1 constituent change for the LQ45 Index and 2 constituent changes for the IDX80 Index at the rebalance to be implemented at the close on 31 July.
• The largest passive inflows are expected in Amman Mineral Internasional (AMMN), Bank Rakyat Indonesia (BBRI), Bank Central Asia (BBCA), Bank Mandiri Persero (BMRI) and Jasa Marga (Persero) (JSMR). 
• The adds have moved higher over the recent past and are near their highs while the deletes have dropped over the last few years and are trading near their lows.

• US crude inventories fell for the fourth straight week, with a 3.7 mb drawdown. Gasoline stocks dropped by 5.6 mb, the largest decline since March.
• As of 19/Jul, US natural gas inventories were up 8.4% YoY and 16.4% above the 5-year seasonal average.
• TotalEnergies’ Q2 revenue fell 5.2% YoY, missing estimates by 7.3%. EPS dropped 7.5% YoY and missed estimates by 7.2%.

• Graphite One Inc. (GPH:TSXV, GPHOF:OTC) is a Canadian development company focused on owning the entire graphite supply chain, through the production of natural and artificial graphite.
• GPH’s strategy is two-pillared with its Graphite Creek mining project in Alaska and its proposed Advanced Anode Manufacturing Facility in Ohio, both at the feasibility study stage.
• The anode facility will produce anode materials primarily used in lithium-ion EVs. Graphite, being a U.S. Government-listed critical mineral and its supply currently dominated by China, poses domestic supply risks and a recent $37.5M grant from the U.S. Department of Defense, gives us confidence in Graphite One bringing these projects into production.

• Bellevue is raising capital through a placement and share purchase plan at a discount to the last close
• The purpose of the capital raise is to pay off debt and fund future growth, with operational pressure and hedges in place
• The company is shifting to a long-term growth story, with guidance for increased production and costs going forward

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• We are updating our estimates to reflect actual 2Q24 NYMEX reference prices of $80.66/bbl for oil and $2.32/MMBtu for natural gas.
• Oil accounts for 78% of our 2Q24 oil production estimate and 98% of our 2Q24 revenue estimate.
• Management’s FY24 production outlook is 43.0-47.0 MBOE/d (Figure 1). 1Q24 production averaged 49.7 MBOE/d (80% oil). 

• IMPP is a shipping company that spun off in May 2021 with 4 ships, raising $140 million through 5 offerings
• Company has a strong balance sheet with net tangible equity of $360 million, over $140 million in net cash and $40-50 million in earnings power
• Shorting IMPP is effectively shorting cash with 3.8 million shares sold short and a borrow rate of -45%, potential for high returns with possible target stock price of $7-8 later in the year

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• ADX has confirmed a very busy programme of activity from September.
• The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price.
• In early September, ADX will drill the Anshof-2A side track.

• Ionic Rare Earths Ltd (ASX:IXR) is a rare earths mining explorer (Uganda) and REO magnet recycling company (Belfast, UK).
• ACF visited IonicTech’s magnet recycling demo plant in Belfast yesterday, July 2024.
• IXR has a unique position in the REE recycling ecosystem.

• Goliath Resources provides investors exposure to gold-silver-copper resource exploration and leverage to an increasing in-ground inventory with discovery upside during a gold price market that is reaching new all-time highs.
• The Company is focused on expanding its resource target model tonnage at the Surebet prospect and making additional discoveries on its 64 km2 Golden Triangle property.
• A 15,000m drill program and continued surface exploration are underway for the summer of 2024.