Kodal Minerals PLC (AIM:KOD) said it expects to submit its application for the switch to a dense media separation (DMS) plant at its Bougouni lithium prospect to the authorities in Mali early in the New Year.
The DMS option is a much cheaper upfront option, said Kodal, based on feeding 1Mtpa of lithium ore to produce 130,000 tonnes per annum of spodumene concentrate with an initial four-year mine life.
ECR Minerals PLC (AIM:ECR), the exploration and development company focused on gold in Australia, revealed that “encouraging” lithium, tantalum and niobium anomalies have been identified at the Lolworth Range project in North Queensland.
ECR owns 100% of three exploration tenements - EPM27901, EPM27902 and EPM27903 - which cover the Lolworth Range, located 120- kilometres west of the famous gold district of Charters Towers.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) said it has agreed on a deal to buy the rail track at its coal loading facilities from major shareholder MBU in another move to put distance between the two companies.
Currently, Bens Creek leases the track from an MBU subsidiary, BC Rail, at an annual rent of US$55,000.
AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) reported record monthly output from its Uis mine in November and said the production ramp-up under its Phase 1 expansion plans is on track for completion by end of January 2023.
November was the first month of production after commissioning of the expanded crushing and tin concentrating circuits were completed in October.
ECR Minerals PLC (AIM:ECR) said soil sampling has identified a potential new parallel gold system at its Creswick project in Victoria, Australia.
The potential new gold system is 500 metres east of the Dimocks Main Shale.
MetalNRG PLC (LSE:MNRG) has confirmed mechanical and electrical completion at its waste-to-energy plant in Italy near Castiglione d'Orcia, Tuscany, and said commercial operations at the plant - a joint venture with EQTEC PLC (AIM:EQT) - will begin in early 2023.
Further to its project status update of 22 November 2022, the company said all mechanical and electrical components are now in place and installed, with all enhancements to the plant including the additional feeding-in system, the dryer and the thermal oxidizer added to improve the resilience of the business model.
Power Metal Resources PLC (AIM:POW) has hailed its global project portfolio and gave a positive outlook for junior resource companies in a commercial update.
“Over the past 4 years, Power Metal has assembled a unique and diverse global project portfolio which is ready for what I believe will be a longstanding and robust bull market for junior resource companies,” said the company's chief executive Paul Johnson in the update.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) has agreed on a deal to sell its own highwall coal miner for a cash consideration of US$3.6mln to Civil, a Georgia-based company.
The miner had already flagged it was looking at the options for its #20 machine having accessed two other miners through its agreement with its contractor Mega Highwall.
Wishbone Gold PLC (AIM:WSBN, AQSE:WSBN) said it started a Magneto Tellurics (MT) survey on its Paterson, Western Australia properties to follow up on mineralisation intersected in maiden drilling on the Red Setter prospect.
Expert Geophysics will carry out the airborne survey over both Red Setter and another prospect, Cottesloe.
Infinity Lithium Corporation Ltd (ASX:INF) continues to work towards submitting a direct mining licence application for the San José Lithium Project in Spain despite a ruling from the Contentious Administrative Court (CAC) in Cáceres confirming cancellation of the Investigation Permit Valdeflorez (PIV).
The company said the CAC decision was not unexpected and had provided clarity on the appropriate pathway to lodging a mining licence.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) confirmed that it has raised gross proceeds of approximately £2.3mln through the issue of a total of 15,161,373 new ordinary shares under the open offer and placing launched on 5 December 2022.
Under the open offer, qualifying Condor Gold shareholders were able to subscribe for 1 new share in the company for every 6 existing ordinary shares held at the record date at a price of 15p each.
Capital Metals PLC (AIM:CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka has announced its unaudited half-year results which showed it had a cash balance of $812,246 as of 30 September 2022.
During the period, the company released results of the auger drilling programme in April 2022 which delivered exceptional high grades, and all results from surface to a maximum of only 3.5 metres (m) depth - with an average depth 1.5m - ended in mineralisation.
Eurasia Mining PLC (AIM:EUA) has said it continues to work towards selling its Russian assets although, at no present, there is no guarantee that the company will enter into any binding agreements regarding the sale of these assets.
In a corporate update, the palladium, platinum, rhodium, iridium and gold-producing company said that total production for 2022 at its West Kytlim site in Russia was roughly 200kg of raw platinum concentrate, up 77% from 2021, with a total average grade of 363mg/m3.
Ferrexpo PLC (LSE:FXPO), a producer of iron ore pellets in Ukraine, said it is now receiving sufficient levels of power to bring one pelletiser line back into operation.
“This will allow the group, together with its stockpiled material, to meet the requirements of existing customer contracts,” it said in a statement.
Pensana PLC (LSE:PRE), the exploration company focused on rare earth minerals, jumped 6% to 47.4p following investment from M&G Investment Management.
M&G, one of the UK’s largest fund managers and a long-standing Pensana shareholder, agreed to invest roughly US$4mln in the company, purchasing 7.25mln shares at 44p each.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said initial drilling confirmed the high uranium prospectivity of its Wedding Bell and Radium Mountain projects in Colorado, US.
Thor said a recently completed 15-hole drilling programme confirmed uranium mineralisation along strike of historical workings at the Rim Rock and Groundhog prospects, and within the newly tested Section 23 prospect.
Ariana Resources PLC (AIM:AAU) said it was looking for world-class discoveries as it provided a review of its wholly owned Asgard Metals Fund covering the first full year since it was launched.
“To date we have made three significant investments at a total cost of A$637,000 (£350,000) in a variety of exploration projects in three different jurisdictions, Australia, Kazakhstan and Laos,” said Ariana managing director Dr Kerim Sener.
Oriole Resources PLC (AIM:ORR) noted that IAMGOLD Corp (TSX:IMG), its partner on the Senala gold project in Senegal, has agreed to sell its portfolio of projects in Senegal, Mali and Guinea to Managem Group for about US$282mln (£232mln)
Included in the sale is IAMGOLD's interest in the option agreement on Senala, where IAMGOLD recently earned a 51% initial interest in Senala by spending US$4mln over four years and can earn up to a further 19% by spending an additional US$4mln before the end of February 2024.
CleanTech Lithium PLC (AIM:CTL), an exploration and development company advancing the next generation of sustainable lithium projects in Chile, has announced that the scoping study for its Laguna Verde project is nearing completion and it intends to release the results in the first week of 2023, and has produced a new corporate video.
The company noted that Ad Infinitum were engaged in mid-2022 to prepare the study with the objective of developing a preliminary evaluation study on the Laguna Verde project in order to demonstrate the potential viability of the project necessary to demonstrate that progress to a Pre-Feasibility Study (PFS) can be reasonably justified.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF), the Botswana-focussed metals exploration company, announced that it has appointed Jeremy S Brett as an executive director and Peter Wynter Bee as a non-executive director with effect from 1 January 2023.
Brett is a senior geophysical consultant with 28 years of experience in international mineral exploration in most commodities, while Wynter Bee is the co-founder and chairman of Moxico Resources, the majority owner and operator of the producing Mimbula Copper Project in Zambia.
Caracal Gold PLC (LSE:GCAT) said a scoping study focused on the expansion of its flagship Kilimapesa Hill gold project in Kenya has highlighted the project’s robust economics.
The study envisages a 114% internal rate of return, a two-year payback period and US$93mln (£76mln) of free cash flows being generated over the 10-year life of mine.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has marked a major milestone in the development of the Wolfsberg Lithium Project in Austria, signing the first offtake agreement for battery-grade lithium hydroxide with global automotive giant BMW through EUR’s Austrian subsidiary ECM Lithium AT GmbH.
In one of the first offtake agreements BMW has signed directly with a mining company, the auto manufacturer has secured the first right to purchase 100% of lithium hydroxide production from currently identified resources at Wolfsberg.
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.
Power Metal Resources PLC (AIM:POW) has announced a drilling update from the Molopo Farms Complex Project which is targeting a large-scale nickel and platinum group element (PGE) discovery in southwestern Botswana, that shows "strong momentum" in the operations.
The London-listed exploration company, which is seeking large-scale metal discoveries across its global project portfolio, said that diamond drillhole DDH1-3A has been completed at target area T1-3 to a depth of 450 metres (m).
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.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has exercised its option with Windfield Metals Pty Limited to acquire an additional 39% interest in the Hancock and Brockman projects and is now the legal and beneficial owner of a 90% direct interest in the licences associated with the projects after closing the deal.
In a statement, Rod McIllree, executive chairman of Alien Metals, commented: "As we continue working towards production at Hancock in 2023 moving to 90% is a logical next step in the project evolution and cements our position in the Pilbara as an emerging potential producer of high grade-high purity, direct shipping, iron ore."
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) has posted its first gross profit in the half year to end-September 2022 as production from its metallurgical coal mine in West Virginia started to ramp up.
Losses for the half year before tax were US$11.7mln on revenues of US$17.4mln but the miner said it will have a second high wall miner in place early in 2023 that along with a two-tier shift on both machines will bring it closer to its expected levels of production.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) has updated investors regarding the 'Article 16' phase of the review being conducted by Portugal's environmental regulator, Agência Portuguesa do Ambiente (APA) on the environmental impact assessment of the Barroso lithium project.
Savannah said it is now nearing completion of a series of very productive virtual and face-to-face meetings with APA and other member groups of APA's EIA evaluation committee, which were initiated in July on entering the Article 16 phase of the EIA.
Ferro-Alloy Resources Ltd (LSE:FAR) has said it is making strong progress with its ongoing feasibility work on the large Balasausqandiq vanadium deposit in Southern Kazakhstan.
Following completion of the drilling programme for phase 1 of the feasibility study, an updated resource estimate will be announced during the first quarter of 2023.
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.
Castillo Copper Ltd (ASX:CCZ, LSE:CCZ) has wrapped up an auger sampling campaign targeting a 6.5-square-kilometre area within the rare earth element (REE) exploration footprint near the Fence Gossan prospect, part of the BHA Project in Far West New South Wales.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) said it has invested approximately A$1mln in Cobre Limited’s A$5mln placing at A$0.15 per new ordinary share for a total of 6,666,667 new ordinary shares in Cobre.
Metal Tiger said its subscription will be subject to Cobre shareholder approval at an extraordinary general meeting, expected to be held in late February / early March 2023.
Red Rock Resources PLC (AIM:RRR) has provided an update on its lithium assets held through its African Lithium Resources Pvt Ltd (ALR) subsidiary in Zimbabwe.
The company noted that ALR has funded development to date from its own resources and by raising $240,000 of external funding and has now raised so far a further $80,000 of external finance for the development into small-scale production of one of its lithium assets. At the conclusion of this funding round, the company's ownership of ALR is expected to be about 50% .
German gas giant Uniper has warned stakeholders that the firm faces possible insolvency if it does not get backing for a new state bailout from the German federal government.
A vote on whether it accepts state support worth over £44.6bn (€50bn) will be held on Monday at an extraordinary general meeting.
Critical Metals PLC (LSE:CRTM) said it has further increased its economic interest in the Molulu ex-producing copper-cobalt mine with the acquisition of the final 21.5% of Madini Occidental Ltd (MO) from Madini Minerals Ltd, taking the company's holding in MO to 100%.
Critical Metals is a mining company established to acquire mining opportunities in the critical and strategic metals sector and currently developing the ex-producing copper-cobalt mine in the Democratic Republic of Congo (DRC)
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) said it has successfully completed the water infrastructure upgrade at its Roan copper concentrator project.
Roan had faced continued water supply interruptions that severely hampered its ability to operate at design throughput levels. The installation of the new dedicated water infrastructure and upgraded power and feed supply infrastructure have been completed successfully with the restart of operations back to nameplate capacity.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) (TG) has clarified some details of the agreement with Battery Metals Limited to acquire the entire issued share capital of its subsidiary Suni Resources SA owing to some questions received from investors in relation to the shareholder loans amounting to around A$29 million that will be assigned to the company.
TG said it will not be assuming any external debt as a result of the acquisition and it will not have any obligation in respect of repayment of or the payment of interest in respect of any third-party debt upon completion as a result of the acquisition of Suni Resources.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has completed a preliminary maiden resource estimate for the Gilar deposit in Azerbaijan, which contains over 135,000 ounces of gold, 21,500 tonnes of copper, and 23,000 tonnes of zinc.
The resource estimate was compiled by an independent consultant and is based on stage one drilling. It is not, at this stage, JORC compliant.
Tungsten West PLC (AIM:TUN) said it has boosted the ore reserve at its Hemerdon project in Devon to 101.2mln tonnes grading 0.14% tungsten trioxide (WO3) and 0.03% tin.
Simultaneously, the resource was boosted to 351mln tonnes of ore at 0.12% WO3 and 0.03% tin.