Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors
Markets

Proactive Mining Highlights: Bacanora Minerals, Kennedy Ventures, Anglo Pacific

A glance at this week's top stories from London's junior miners.
mining
It was another busy week in the mining industry.

Bacanora Minerals Ltd. (LON:BCN) has said it intends to re-commence the process of changing the domicile of jurisdiction to the UK from Canada which it thinks will benefit its plans to raise a significant amount of new debt and equity financing to fund its growth.

The London and Canadian listed lithium company sought shareholder approval to effect the re-domicile from Canada in September 2016, however, the requisite approval was not obtained in order to proceed.

It added that, since listing on AIM in 2014, the company has been successful in raising funding from the UK Capital Markets and has already added three Global Institutional investors and a major off-take partner to its shareholder base.

In a separate statement the company said it has appointed Eileen Carr as a non-executive director and Janet Boyce as chief financial officer.

The board strengthening comes ahead of the start of construction at its Sonora lithium project in Mexico.

Tantalum miner Kennedy Ventures PLC (LON:KENV) expects its shares will return from suspension today with a name change to Kazera Global PLC planned for March.

The shares were suspended in December as Kennedy’s auditors were unable to sign off the accounts in AIM's timeframe due to the complexity of consolidating its Namibian businesses and applying the IFRS standard.

Anglo Pacific Group plc (LON:APF), the royalty specialist, enjoyed a record year in 2017 as higher coal and vanadium prices combined with increased production on its land.

Royalty income rose 90% to £37mln-£37.75mln with a further £4.7mln/£5mln to come from uranium operation Denison/McClean.

Julian Treger, the chief executive, said the average price realised at Australian coking coal royalty Kestrel was some 40% higher than a year earlier.

Glenover Phosphate, the 36%-owned subsidiary of Galileo Resources PLC (LON:GLR), has signed Heads of Agreement for an off-take deal with a major phosphate and fertiliser producer.

Glenover will supply raw phosphate rock in the form of flotation concentrate from its project in Limpopo Province, South Africa.

Bezant Resources plc (LON:BZT) has announced it will raise £600,000 via a sale of new equity, securing working capital and bringing in new investors including AIM-mining deal maker, Colin Bird.

Some 133mln new shares are being sold in an oversubscribed placing arranged by Peterhouse Corporate Finance. The new shares are priced at 0.45p and they will be issued in two tranches, with the first anticipated later this week and the second is subject to shareholder approval.

Jubilee Metals Group Plc (LON:JLP), in an after market close statement, told investors that associate BMR Group now understands that it has the right to appeal at the Kabwe project.

“Jubilee will support BMR to favourably conclude this process,” the company said.

Earlier on Wednesday, Jubilee said “doing all things necessary” to assist BMR after the joint venture partner lost its mining right for their Kabwe joint venture project in Zambia.

Junior explorer Greatland Gold plc (LON:GGP) is to kick off a new exploration campaign at its Ernest Giles gold project in Western Australia.

The plan is to drill three high priority targets at the Meadows, Wishbone and Empress areas, although before that, mobile metal ion (MMI) surveys will be carried out.

Richland Resources Ltd (LON:RLD) has appointed Anthony Brooke as the company’s new chief executive with immediate effect.

Bernard Olivier now leaves his position and leaves the company to pursue his other interests.

Horizonte Minerals Plc, (LON:HZM) has completed a trial excavation programme at its Araguaia nickel project in Brazil.

The programme included pre-mining diamond drilling, a test pit with around 27,000 tonnes of ore mined and analysis of the mined material.

The total resource at the B4-7 nickel-copper-cobalt deposit of Landore Resources Ltd (LON:LND) now amounts to 3,292,000 tonnes at 1.20% nickel equivalent in the indicated category and 568,000 tonnes at 1.26% nickel equivalent inferred.

Total contained metal rings in at 46,661.That’s an increase of 43% since the resource was last calculated back in 2012.


No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use