Ora Banda Mining Ltd (ASX:OBM) will receive A$12.74 million in non-dilutive debt and royalty funding from its largest shareholder, Hawke’s Point Holdings LP, which holds 45.29% of the company.
Funding will comprise an unsecured loan and net smelter return (NSR) royalty and will be used towards developing the Riverina Underground Gold Project including exploration, resource development and capital expenditure.
Mila Resources PLC (LSE:MILA) has said it intends to focus its drilling in 2023 on areas along strike to the northwest of its Coffey deposit at the Kathleen Valley Gold Project in Western Australia after the final hole in the 2022 campaign showed uneconomic gold grades.
A down-hole magnetic survey was still indicating a strong signal and forms the core of the Coffey deposit, Mila noted.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has announced drill-intersections of significant gold mineralisation from the Makosa gold deposit at its Douta Gold Project, Senegal.
The Douta Gold Project encompasses the Makosa gold deposit which currently comprises an Inferred Resource of 730,000 ounces of gold (Au), grading at 1.53 grams per ton (g/t), as announced in its maiden Mineral Resource Estimate (MRE) published on 18 November 2021.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has written to senior representatives from a number of international organisations and governments, including the United Nations, the US State Department, the UK Foreign Office, and the European Union about the company's business and mining rights to properties currently being exploited by others.
Anglo Asian is requesting support from these authorities for the restoration of its legitimate business rights and the safe physical access for Anglo Asian employees to the Kyzlbulag and Demirli mines and surrounding exploration territory in Karabakh.