Fulcrum Metals will be joining the AIM market of the London Stock Exchange after a successful initial public offering and conditional placing.
Shares are expected to commence trading on the AIM market of the London Stock Exchange on 14 February.
Panther Metals said that Fulcrum Metals announced a successful initial public offering and conditional placing.
Shares are expected to commence trading on the AIM market of the London Stock Exchange on 14 February.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) has said its interim earnings will come in well below last year after previously flagged production issues at its Barberton complex.
The South African gold miner said it now expects earnings of between 1.40 US cents and US 1.64 US cents per share for the six months to end December 2022, compared to 2.39 US cents for the corresponding reporting period, a decrease of between 31% and 41%.
Capital Metals PLC (AIM:CMET) has told investors it is undertaking processes in Sri Lanka to amend its corporate structure with the aim of having the temporary suspension of its Industrial Mining Licences (IMLs) lifted as soon as possible.
The company’s IMLs were suspended in early December amid disagreement with the Sri Lankan authorities over the company’s adherence to rules around domestic ownership – the company held its IMLs in a Sri Lankan holding subsidiary.
Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) chief executive Darryn McClelland told investors the company has been “extremely busy” preparing the feasibility study (FS) update for its BKM copper project.
McClelland and the construction team visited the site in Central Kalimantan, Indonesia to complete an assessment of the local port and road infrastructure, while mine site surveys were completed by contractors via a drone LIDAR survey and passive seismic horizontal-to-vertical spectral ratio study.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said its diesel usage has been slashed following the start-up of a solar power generator at the Blanket mine in Zimbabwe.
The 12MWac solar plant, which was connected to the Blanket mine electrical grid in November 2022, is operating better than expected and generating more power than anticipated, Caledonia added.
Ora Banda Mining Ltd (ASX:OBM) has made material progress toward an updated mineral resource estimate for the Riverina Gold Project in Western Australia's Goldfields with another set of high-grade results from deep within the main lode.
The main lode at Riverina consists of two parallel mineralised systems, 10-15 metres apart - Main Lode East and Main Lode West.
Bezant said maiden drilling at its Kanye manganese exploration project in Botswana has returned some high grades including 28.6% and 22% in two of the eleven holes.
The potential exists for at least another 100m of strike extension to the southeast of holes MS-RC-07 and MS-RC-012, said the junior, which would extend the total strike length to a minimum of 500m, it added.
How much lithium is there in Europe?
The short answer is not enough.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) has announced the results for three holes drilled from underground platforms within the Kearney Vein development at the Omagh Project in Northern Ireland which show further solid gold grades.
Among the drilling highlights, Hole FR-DD-22-UG-192, targeted within the northern dilation zone, intersected 6.2 grams per tonne (g/t) gold (Au) and 46.6 g/t silver (Ag) over a 11.1-metre (m) intersection. This includes a higher grade section of 22.5 g/t Au and 170.8 Ag over 2.7m.
Galileo Resources PLC (AIM:GLR) has published its first inferred mineral resource estimate for the Luansobe copper project in Zambia.
In an open pit resource, Luansobe has 5.8mln tonnes gross grading 1% giving 56,000 tonnes of contained copper, while underground there are 6.3mln tonnes at 1.5% for 97,000 tonnes of contained metal.
Anglo American PLC (LSE:AAL) has agreed to acquire a 9.9% minority interest in Canada Nickel Company Inc, which owns the Crawford nickel project in Ontario, Canada.
The FTSE 100-listed miner said it will also provide technology expertise to the Crawford project and has the exclusive right to purchase up to 10% of recoveries of nickel concentrate, iron and chromium contained in the magnetite concentrates and any corresponding carbon credits from the Crawford project.
Investments and jobs in the American clean energy sector have boomed since August’s Inflation Reduction Act, according to new research.
Around 100,000 clean energy jobs have been created in the past sixth months, according to activist group Climate Power and investment in the sector has reached US$89.5bn.
PYX Resources is worth a multiple of its current share price, according to house broker WH Ireland, which sees the Kalimantan-based mineral sands miner as low risk.
Fair value for the broker is 129p per share, compared to a 20.5p market price, which it bases on a simple average of net present value and a peer multiple of seven times earnings.
Trident Royalties has a share price target upgrade from house broker Liberum following the legal ruling over the Thacker Pass lithium project in Nevada.
Developer Lithium Americas received a favourable ruling for the appeal filed against the Bureau of Land Management (BLM), said the broker, which means construction can commence soon.
PYX Resources Ltd (LSE:PYX, NSX:PYX) reported a strong uptick in zircon production in 2022 with sales of the metal for the year up by a third.
Year-on-year sales of the industrial base metal increased to 9,100 tonnes (t) with the production of rutile (January) and ilmenite (June) - the components to make paint pigment titanium dioxide - also commencing during the year.
Trident Royalties PLC (AIM:TRR) has welcomed the ruling by a Federal judge over the Thacker Pass lithium project in Nevada, where it has a sizeable royalty once production starts.
The Nevada District Court rejected an appeal filed against the Bureau of Land Management (BLM) that the original permit had been wrongfully issued, concluding the process had been conducted thoroughly and responsibly.
Sunstone Metals Ltd (ASX:STM) managing director Malcolm Norris has delivered a video update on the company’s activities at the El Palmar Project in northern Ecuador and the Bramaderos Project in southern Ecuador.
The company’s recent porphyry discovery at the Limon target at Bramaderos is ‘very significant’ – the prospect looked geologically promising during earlier fieldwork and the drilling is now testing the hypothesis.
Trident Royalties shares climbed to a new all-time high as a Federal judge largely approved the development of the Thacker Pass lithium project in Nevada.
The ruling required one section of the original approval from the Bureau of Land Management to be reviewed again relating to the storing of waste rock on Federal land.
The mining royalty and streaming sector started 2023 robustly with the average share price during January up 5.0% – the third month in a row of positive trajectory and the best start to the year since this report has been going.
During the month, 71% of the sector experienced positive share price movements and the majors were the best-performing subset of the sector during January, up 12.4%.
Caledonia Mining has its price target tweaked higher by broker Liberum, which said it now expects the Bilboes project in Zimbabwe to be developed in stages rather than in one go.
Bilboes can quadruple Caledonia’s annual production to around 220,000 oz a year of gold at one stoke, suggests the broker based on a feasibility study carried out for the vendors,
Europa Metals has made real progress at Toral in Spain since a PEA in 2020 and is significantly undervalued compared to its peers, according to house broker WH Ireland.
Toral is one of Europe’s most under-appreciated lead-zinc deposits, suggests WHI, with a real prospect of becoming a mine.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has provided the results of its 2022 exploration programme at the Vagar licence in Greenland which showed anomalous gold was intersected in all completed drillholes.
In a statement, Eldur Olafsson, CEO of Amaroq, commented: "We are just starting our journey to explore this opportunity. Current drill intersections suggest that a large tonnage Intrusion Related Gold system is in play, with significant depth potential bolstered by high-grade vein-hosted gold. Meanwhile, surface sampling at the East Ridge continues to illustrate the true scale of the deposit."
Nissan could continue making new electric vehicles (EVs) in the UK but it will need stronger government support for the industry, the Japanese company said as it took a larger stake in France’s Renault as part of a reset of its 15-year partnership.
Both the current gas-guzzling and EV versions of its Qashqai and Juke models are designed and manufactured by Nissan across five sites the UK, but the UK’s manufacturing costs are higher than elsewhere, said chief operating officer Ashwani Gupta.
ECR Minerals PLC (AIM:ECR) has recovered high gold grades from recent in-situ rock chip sampling at the Creswick project in Victoria, Australia.
The company is exploring a number of parallel gold mineralisation trends that are believed to extend 10 kilometres north-east from the Nerrina Goldfields at Ballarat.
Arc Minerals Limited (AIM:ARCM) has said it is continuing to make progress with joint venture negotiations in regard to its copper properties in north-west Zambia.
Under the terms of a proposed joint venture deal with a subsidiary of Anglo American, Anglo will have the right to retain up to 70% ownership in the joint venture.
Great Western Mining Corporation PLC (AIM:GWMO) said it has started work on the construction of its processing mill joint venture in Nevada, though it has resubmitted its application for approval after recommendations from the state’s Department of Environmental Protection (NDEP).
Changes requested by NDEP were reasonable and will be easily manageable, said the statement, which added approval is required for the operating phase but not for the construction.
Altech Chemicals Ltd (ASX:ATC) has made strong progress with the construction of its Silumina Anodes™ pilot plant project in Saxony, Germany.
The company revealed its ‘game-changing’ technology of incorporating high-capacity high-purity alumina-coated silicon and graphite in lithium-ion batteries and is in on a fast track to get the patented technology to market.
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said it has received £452,000 of funding from CoTec, an ESG technology group.
According to a statement from the Canadian exploration company, the funding is the final instalment under the £2mln convertible loan agreement.
Recharge Industries, an Australian firm owned by Scale Facilitation Partners, has agreed to buy Britishvolt’s business and assets.
The failed start-up fell into administration last month after running out of money, with suitors for its purchase including Greybull Capital and a consortium headed by its ousted founder Orral Nadjari.
Ferro-Alloy Resources remains a buy with a price target of 38p at house broker Liberum even though the timeline for the huge Balusa vanadium project has been pushed back six months.
Balusa, in Kazakhstan, should have its feasibility study published in the fourth quarter of this year, with first production now likely to be in 2026 instead of late 2025.
SP Angel . Morning View . Monday 06 02 23
Gold slides as Dollar jumps on strengthening US labour market and easing recessionary concerns
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) has announced changes to its senior management team, with Honest Mrema promoted to chief operating officer (COO) with immediate effect, while Michal Devine will become its new chief financial officer (CFO) on 23 March 2023.
The East Africa-focused gold producer, developer and explorer said Luke Leslie, the current CFO, has informed the board of his decision to step down from his role and will remain with the company until the publication of the full-year results in March to ensure a smooth handover of duties.
Newmont, the world’s biggest gold miner by market capitalisation, has made a US$16.9bn play for Newcrest, the biggest gold miner in Australia.
The move comes at a time of uncertainty for Newcrest, which is seeking a new boss after previous chief executive Sandeep Biswas stepped down in December.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF), the former Afritin, has upgraded the mineral resource estimate (MRE) at the Uis Mine in Namibia by 30% with more in the measured and indicated categories.
After drilling last year, measured and indicated lithium resources increased by 47% to 38Mt, while the average grade of lithium rose to 0.73% Li20 from 0.63%, lifting total contained tonnage by 30% to 587,000 tonnes.
Cora Gold Ltd (AIM:CORA) is ramping up its development of the Sanankoro Gold Project in southern Mali with the launch of a financing plan to raise at least US$19.566mln.
The funds will come from both equity (US$3.711mln) and convertible loan notes (US$15.855mln) and will be used to kick off work following the optimised project economics report, which highlighted strong economic fundamentals, including a 52% internal rate of return.
Empire Metals Ltd (AIM:EEE) has released the results of the dipole-dipole induced polarisation (DD-IP) surveys carried out at the Pitfield copper project in Western Australia.
These DD-IP surveys have identified multiple drilling targets and provided further evidence to support the view that Pitfield has the potential to contain multiple sediment-hosted stratabound copper deposits across a 40 kilometre long alteration footprint.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said it has boosted the gold resource base at its 64%-owned Blanket mine in Zimbabwe.
The total measured and indicated resources estimate at Blanket, inclusive of reserves, has increased by 52% to 1.095mln ounces of gold. Total reserves have increased by 1% to 395,000 ounces of gold.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) has provided an update on its decarbonization study for the Barroso Lithium Project in Portugal which has confirmed that using battery electric mining equipment would be the most effective way to reduce the project's Scope 1 emissions to zero.
The strategy was created following the completion of the initial study phase by ECOPROGRESSO, a Portuguese environmental, sustainability, and climate change consultant. The study aimed to update the project's greenhouse gas inventory, reduce emissions, and create a preliminary decarbonization strategy.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) has reported ‘significant’ high-grade lithium-bearing intercepts at multiple locations from its first diamond core drilling programme at the San Domingo pegmatite district in Arizona.
Best of the results was 32 metres (m) at a grade of 1.6%, with Bradda Head adding that 5,700m of the 7,000m programme had now been completed with a finish this month.
International Mining Company Invest, which is 9.9% owned by MetalNRG PLC (LSE:MNRG), has filed for arbitration with the International Centre for Settlements of Investment Disputes (ICSID) for US$63mln plus interest and legal fees.
The dispute centres around IMC's uranium asset in Kyrgyzstan.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF), the mining and exploration company, said it made two key appointments to its leadership team.
Jeremy Meynert joins as chief development officer and Simon Tyrrell as chief operating officer.