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Proactive weekly mining highlights: Scotgold, African Battery Metals, Arc Minerals, Cradle Arc, Chaarat Gold and Greatland Gold ...

A round-up of the week's news from small-cap mining and exploration companies
Mining site
Another busy week for minerals extractors and wannabe extractors

Scotgold Resources Limited (LON:SGZ) said it continues to make progress in the finalisation of the planning application for its Cononish gold and silver project.

Since the unanimous positive "minded to grant" decision by the board of the National Park Planning Authority (NPA) in February, the company has worked with the NPA and other interested parties to secure all the necessary agreements. The most significant of these, the "Section 75", has now been executed and submitted for registration.

African Battery Metals PLC (LON:ABM) has commenced geological work on its recently acquired 380-square-kilometre Lizetta II nickel, cobalt and chrome exploration project in Ivory Coast.

ABM commissioned a site visit by a technical team, led by a highly qualified exploration geologist to prepare for a structured field exploration programme. Additional historic technical data was identified during the visit and will complement a consultancy report completed in 2017.

Arc Minerals Ltd (LON:ARCM) has intersected mineralisation in all holes drilled to date as part of the current 11,000-metre programme at the Kalaba prospect in Zambia.

Kalaba is part of the Zamsort copper-cobalt project which Arc took control of earlier in the year.

The mining licence in Botswana held by Cradle Arc PLC (LON:CRA) over 28.5 square kilometres of ground including the Thakadu open pit and Makala underground deposit has now been extended by the Ministry of Mineral Resources until 2020.

This licence is 70km south-east of the Cradle Arc’s flagship Mowana copper mine.

Chaarat Gold Holdings Ltd (LON:CGH) has reassessed its borrowing needs and is reducing its current convertible debt placement from US$100mln to US$50mln.

The reduction has been prompted by positive developments surrounding the company's proposed acquisition of a polymetallic asset, as well as accelerated project funding arrangements for the development of the Tulkubash mine, following the recent positive resource upgrade.

Clive Latcham, a former copper group mining executive at Rio Tinto, has been appointed as a non-executive director to the board of Greatland Gold PLC (LON:GGP).

The chemical engineer and mineral economist has more than thirty years' experience in senior roles in the mining sector and is currently a senior external advisor at the sustainability consultancy firm, Environmental Resource Management (ERM), where he is also an advisor to the chairman and chief executive officer.

Kavango Resources PLC (LON:KAV) has completed the first phase of its airborne electromagnetic geophysical survey at the KSZ project in south-west Botswana.

The survey has identified 26 conductive anomalies across 2,000 line kilometres in the Hukuntsi area of the KSZ project.

Galileo Resources PLC (LON:GLR) has completed a second phase of drilling at the Star Zinc project in Zambia.

Preliminary results from four of the drill holes show intersections of high-grade mineralisation running at between 14% and 26% zinc, and over good widths.

Rockfire Resources PLC (LON:ROCK) updated investors on its inaugural reverse circulation drilling programme at the Marengo project, Queensland.

Highlight results from shallow holes included gold grades up to 7.8 grams per tonne in one section.

Regency Mines PLC (LON:RGM) updated investors on September production numbers for the AIM-quoted firm’s 47% owned Mining Equity Trust.

MET sold 44,020 tons of coal for the month, achieving $1.95mln of total revenues. The volumes came in below forecasts made in August, which were set at 59,250 tons for $2.69mln. It noted that the forecast had reflected the daily volumes at the end of August.

Kibo Energy PLC (LON:KIBO) has now submitted documentation, a formal tender qualification document, to TANESCO (Tanzania Electricity Supply Company) for the Mbeya coal to power project (MCPP).

It noted that this latest step is in line with the Tanzanian Government's new initiative regarding the development of independent power projects.

Asiamet Resources Ltd (LON:ARS) is planning to perform additional drilling to enhance the bankable feasibility study (BFS) at its Beruang Kanan Main (BKM) copper project.

The company said limited further drilling is required in the BKM pit area to better assess geological and geotechnical components and their impact on the open pit mine design. This drilling will also evaluate the additional resource tonnages that currently sit both inside and outside the pit shells, and which are currently classified as inferred resources.

Asiamet also issued a response to an article published in with respect to protests in the Nagan Raya area, saying that the Beutong project permit is in good standing and in full compliance with all rules and regulations set by the Indonesian Ministry of Energy and Mineral Resources.

Furthermore, the company asserted it has strong working relationships with local communities, stakeholders and governments across all its projects in Indonesia.

Base Resources Limited (LON:BSE, ASX:BSE) said mined ore tonnes increased by 35% in the third quarter.

The sharp increase in output followed the successful implementation of the Kwale Phase 2 mine optimisation project.

Wishbone Gold PLC (LON:WSBN) has raised £567,000 through a placing to pay off its equity stand-by facility with financier D-Beta.

The agreement was set up in August 2017 and ending the arrangement will see Wishbone pay about £120,000 owed and a final settlement payment of £274,000.

Shanta Gold Limited (LON:SHG) produced 19,723 ounces of gold in the third quarter at its New Luika mine in South-Western Tanzania.

Production was lower than budgeted as mine grades were lower than expected.

Ariana Resources PLC (LON:AAU) said recent exploration and development work at the Salinbas Gold Project has demonstrated that exceptional mineralisation continues to the immediate north of the deposit, over around 500 metres of strike, as predicted in its JORC Exploration Target in June.

Dr Kerim Sener, managing director of the exploration and development company operating in Turkey, said: "Furthermore, additional rock-chip sampling within and near the Ardala porphyry during trial mining undertaken during 2018, has continued to reaffirm our understanding that this area represents a significantly gold enriched porphyry system.”

The company produced a record 7,588 ounces of gold in the third quarter of 2018, up significantly from the 7,171 ounces produced in the second quarter.

Total ore processed for the quarter was 46,214 tonnes at an average head grade to the plant of 4.43 grams per tonne (g/t) gold.

Bushveld Minerals Limited (LON:BMN) expects to start detailed talks about a finance package for the Imaloto coal-fired power station project in Madagascar once the bankable feasibility study (BFS) is completed.

The study for the power station was completed in June and is under review, while the BFS for the coal mine is due to be finished in the final quarter of this year.

Red Rock Resources PLC (LON:RRR) has started a soil sampling programme to explore for copper and cobalt in the Democratic Republic of Congo.

The licence is in the Copperbelt in the south of the DRC near the Zambian border.

Vast Resources PLC (LON:VAST) and Botswana Diamonds PLC (LON:BOD) are to push ahead with their plans to develop the Heritage concession in the Marange diamond fields of Zimbabwe.

The decision comes after the pair received a geological assessment of Heritage, which showed the property contains several targets for modern alluvial diamond placer deposits.

Vast also reported it has agreed on terms with Baita SA, the holder of the head licence at the Baita Plai mine, and now has the right to commence mining.

“The commercial Association Contract has now been executed and the agreed amount of money settled,” said Andrew Prelea, Vast’s chief executive.

Alba Mineral Resources (LON: ALBA) has found evidence of gold well away from the old mine workings at Clogau in Wales.

Soil sampling and geophysical sampling confirmed that gold anomalies occur all along the strike of the existing mine but also extended away.

Metallurgical test work at the T3 copper project in Botswana has indicated lower production costs than previously estimated, Metal Tiger PLC (LON:MTR) reported.

“The findings of the feasibility level metallurgical test work are particularly encouraging with the coarser grind metal recoveries supporting a reduction in anticipated capital, operational and power costs versus the Pre-Feasibility Study stage model”, said Michael McNeilly chief executive.

Bacanora Lithium PLC (LON:BCN) remains confident it will receive funding to build the Sonora mine in Mexico.

The first phase of the project has been estimated to cost US$420mln with a further US$40mln required for working capital. Bacanora has a US$150mln loan facility in place and a US$90mln off-take arrangement for the back end of construction.

Ulster-based gold explorer Galantas Gold Corp (LON:GAL CVE:GAL) has appointed corporate finance specialist Róisín Magee to its board.

Magee has more than thirty years’ experience working for fund managers in Dublin and London.

Premier African Mineral PLC (LON:PREM) has been notified that a decision over the ownership structure of the RHA tungsten mine in Zimbabwe will not come until the end of the month.

Premier owns 49% of RHA but has proposed a debt-for-equity swap with Zimbabwe’s indigenisation authority NIEFF to take its stake up to 90%. The Ministry of Industry, Commerce and Enterprise Development in Zimbabwe has indicated that the process will be concluded before the end of this month.

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