ACF Equity Research

RSS Feed

ACF Equity Research is an independent research house specialising in the highest specification independent equity research for corporate clients.

We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate our professional investor readers  with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

We believe in the importance and value of clarity, the careful articulation of technical ideas, concepts and solutions.

Our team of analysts are independently minded individuals who believe in thoroughness, technical competence and clear punchy communications.

ACF Mining
  • ACF Mining
PPTA PERPETUA RESOUR...

Perpetua Resources Corp (PPTA) Update Note Filling the US Critical Min...

Perpetua Resources Corp. (Nasdaq: PPTA; TSX: PPTA) is an Idaho based (Stibnite jurisdiction), gold-antimony-silver (Au-Sb-Ag) junior explorer/producer. ACF is releasing a aluation increase for PPTA based on milestones achieved since our initiation note. ACF identifies PPTA as a US national strategic asset (Sb) and best-in-class gold asset. On Dec 19, 2022 PPTA received a critical minerals award from the DoD of up to $24.8m for environmental/engineering studies to complete FEIS, RoD/permits and a...

PPTA PERPETUA RESOURCES CORP
03/08/23 March 8, 2023 16 EN
ACF Mining
  • ACF Mining
PPTA PERPETUA RESOUR...

Perpetua Resources Corp (PPTA) Flash Note Essential US Defense Project...

Perpetua Resources Corp. (Nasdaq: PPTA; TSX: PPTA) is an Idaho based (Stibnite jurisdiction), gold-antimony-silver (Au-Sb-Ag) junior explorer/producer. ACF identifies PPTA as a US national strategic asset (Sb) and best-in-class gold asset. On Dec 19, 2022 PPTA received a critical minerals award from the DoD of up to $24.8m for environmental/engineering studies to complete FEIS, RoD/permits and advance year 1 construction readiness. On Jan 10, 2023 the comment period for the SDEIS closed on-time ...

PPTA PERPETUA RESOURCES CORP
01/19/23 January 19, 2023 10 EN
ACF Energy
  • ACF Energy
KIBO KIBO ENERGY

Kibo Energy (KIBO) Flash Note Fleet of Foot ACF Equity Research 130120...

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. As a fast kick off to its strategic review execution process Kibo stated on Wed 11 Jan 22 that it had appointed a new NED, changed NomAd, returned to trading on AiM, renegotiated and extended its bridge loan facility and will shortly update the market on its USE spinout and other strategic initiatives. The NED appointment of Ajay Saldanha is very supportive and...

01/13/23 January 13, 2023 6 EN
ACF Financials
  • ACF Financials
LSEG London Stock Ex...

London Stock Exchange Group (LSEG) Core Investment Case with Trading V...

London Stock Exchange Group (LSE: LSEG) is a financial markets infrastructure company operating across the capital markets value chain – capital issuance, pre-trade, trade execution to post-trade. LSEG appears undervalued based upon its top line growth potential and potential OPEX savings. LSEG operates via three divisions – Data & Analytics (data insight and management), Capital Markets (primary issuance and secondary market trading), and Post Trade (clearing, risk management and compliance). T...

LSEG LONDON STOCK EXCHANGE GROUP PLC
11/24/22 November 24, 2022 12 EN
ACF Mining
  • ACF Mining
KIBO KIBO ENERGY

Kibo Energy (KIBO) Flash Note Tanzania MoU ACF Equity Research 2311202...

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) has changed to a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. Kibo’s RNS of 23 Nov 2022 announces MoU signed defining the negotiation framework Mbeya Tanzania 300MW power station project PPA. Once a PPA is signed Mbeya 300MW is funding ready. We expect Kibo to reopen discussions with 2018 funders. We expect market and tech availability drivers will mean this project will use renewable feedstock, which ought...

11/24/22 November 24, 2022 7 EN
ACF Mining
  • ACF Mining
PPTA PERPETUA RESOUR...

Perpetua Resources Corp (PPTA) Update Note Filling the US Critical Min...

Perpetua Resources Corp. (Nasdaq: PPTA; TSX: PPTA) is an Idaho based (Stibnite jurisdiction), gold-antimony-silver (Au-Sb-Ag) junior explorer/producer. ACF is releasing a aluation increase for PPTA based on milestones achieved since our initiation note. ACF identifies PPTA as a US national strategic asset (Sb) and best-in-class gold asset. On Dec 19, 2022 PPTA received a critical minerals award from the DoD of up to $24.8m for environmental/engineering studies to complete FEIS, RoD/permits and a...

PPTA PERPETUA RESOURCES CORP
03/08/23 March 8, 2023 16 EN
ACF Mining
  • ACF Mining
PPTA PERPETUA RESOUR...

Perpetua Resources Corp (PPTA) Flash Note Essential US Defense Project...

Perpetua Resources Corp. (Nasdaq: PPTA; TSX: PPTA) is an Idaho based (Stibnite jurisdiction), gold-antimony-silver (Au-Sb-Ag) junior explorer/producer. ACF identifies PPTA as a US national strategic asset (Sb) and best-in-class gold asset. On Dec 19, 2022 PPTA received a critical minerals award from the DoD of up to $24.8m for environmental/engineering studies to complete FEIS, RoD/permits and advance year 1 construction readiness. On Jan 10, 2023 the comment period for the SDEIS closed on-time ...

PPTA PERPETUA RESOURCES CORP
01/19/23 January 19, 2023 10 EN
ACF Energy
  • ACF Energy
KIBO KIBO ENERGY

Kibo Energy (KIBO) Flash Note Fleet of Foot ACF Equity Research 130120...

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. As a fast kick off to its strategic review execution process Kibo stated on Wed 11 Jan 22 that it had appointed a new NED, changed NomAd, returned to trading on AiM, renegotiated and extended its bridge loan facility and will shortly update the market on its USE spinout and other strategic initiatives. The NED appointment of Ajay Saldanha is very supportive and...

01/13/23 January 13, 2023 6 EN
ACF Financials
  • ACF Financials
LSEG London Stock Ex...

London Stock Exchange Group (LSEG) Core Investment Case with Trading V...

London Stock Exchange Group (LSE: LSEG) is a financial markets infrastructure company operating across the capital markets value chain – capital issuance, pre-trade, trade execution to post-trade. LSEG appears undervalued based upon its top line growth potential and potential OPEX savings. LSEG operates via three divisions – Data & Analytics (data insight and management), Capital Markets (primary issuance and secondary market trading), and Post Trade (clearing, risk management and compliance). T...

LSEG LONDON STOCK EXCHANGE GROUP PLC
11/24/22 November 24, 2022 12 EN
ACF Mining
  • ACF Mining
KIBO KIBO ENERGY

Kibo Energy (KIBO) Flash Note Tanzania MoU ACF Equity Research 2311202...

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) has changed to a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. Kibo’s RNS of 23 Nov 2022 announces MoU signed defining the negotiation framework Mbeya Tanzania 300MW power station project PPA. Once a PPA is signed Mbeya 300MW is funding ready. We expect Kibo to reopen discussions with 2018 funders. We expect market and tech availability drivers will mean this project will use renewable feedstock, which ought...

11/24/22 November 24, 2022 7 EN
PPTA PERPETUA RESOUR...

Perpetua Resources Corp. (PPTA) Core Investment Case UPDATE ACF Equity...

Perpetua Resources Corp. (Nasdaq: PPTA; TSX: PPTA) is a gold-antimony-silver deposits developer in the stable mining jurisdiction of Stibnite-Yellow Pine, Idaho. PPTA’s Stibnite open-pit gold (Au) project is one of the highest grade US deposits Compared with the 2020 FS after-tax NPV of $1.86bn (assumptions: 5% discount rate, gold $1,850/oz)  antimony (M+I 206Mlbs) is a potentially exciting byproduct. PPTA’s MCap is at an ~90% discount to the FS suggesting a significant potential mispricing. Sin...

PPTA PERPETUA RESOURCES CORP
08/19/22 August 19, 2022 12 EN
ACF Extractives
  • ACF Extractives
8GC GLENCORE PLC
KGH KGHM Polska Mie... ... (+5)

Silver Thematic ACF Equity Research 11082022

Silver (Ag) is half store of value and half industrial metal. A hawkish Federal Reserve and spiking bond yields will create significant headwinds for the Ag price 2H22E. Any expectations for global recession, leading to an industrial cycle downturn will  also push the silver price down. In 2H22E we assess that both weakening industrial activity (>50% of global silver demand) and monetary policy trends will exert downward pressure on silver’s price. Beyond YE22E the physical silver supply deficit...

8GC GLENCORE PLC
KGH KGHM POLSKA MIEDZ S.A.
FRES FRESNILLO PLC
POLY POLYMETAL INTERNATIONAL PLC
NE.M.BA NEWMONT CORPORATION
08/11/22 August 11, 2022 20 EN

Uranium Market Briefing Note FINAL 25092019

Uranium’s (U3O8) main use is as a fuel in the production of electricity by nuclear power stations. The uranium market is complex, illiquid (thinly traded) and opaque. Directly or indirectly State-controlled producers account for up to 70% of global production and these players do not have to follow economic logic unlike the companies without State subsidy. The majority of consumption (power stations) are geographically and often politically far from the majority of production (mines). Consumptio...

09/25/19 September 25, 2019 8 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch