Gold prices hit a second yearly high on Wednesday as investors sought out safe-haven assets on news of further struggles among US regional banks.
Gold reached US$2061.39 per ounce in the evening, according to Trading Economics, as news struck that US lender Pacific Western Bancorporation was seeking out a rescue deal.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has said it remains on track to achieve its full-year production guidance with a stronger performance expected in the second half of the year as it reported first-quarter numbers.
The company produced 301,000 ounces (oz) of gold at an all-in-sustaining cost (AISC) of $1,022/oz in the first quarter of 2023.
Orosur Mining Inc (AIM:OMI, TSX-V:OMI) shares plummeted over 28% on Thursday following the release of today’s operational update.
Investors appeared concerned over the progress of the Anzá Project in Colombia.
Voltaic Strategic Resources Ltd (ASX:VSR), an early-stage exploration company focused on critical minerals, primarily rare earths and battery metals, is making significant progress with its projects in Western Australia and Nevada, USA.
The Gascoyne region of Western Australia, in particular, has been a focus of the company's efforts, and Voltaic is currently conducting its second drill campaign since listing on the Australian Securities Exchange (ASX) in October 2022.
Landore Resources Ltd (AIM:LND, OTC:LNDLF) is to see a changing of the guard with both chairman Charles Wilkinson and chief executive Bill Humphries retiring at the forthcoming AGM.
Humphries said: “Charles Wilkinson and I have been directors of the company since 2005 and believe it is now an appropriate time to step down.”
MetalNRG PLC (LSE:MNRG) said consultants are on site and work is set to get underway on a second phase of exploration at its Gold Ridge gold mine property in Arizona.
The first phase of exploration showed the largest gold anomalies were found in historical areas mined for gold but a secondary zone was found in an area previously unexplored with a new liner zone delineated in the Southern Precambrian block.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has started the direct sale of gold produced from the Blanket Mine to a refiner outside Zimbabwe.
Under the new arrangement, refined gold held by Fidelity Gold Refinery (FGR) is now exported to a refinery outside Zimbabwe with the receiving foreign refinery undertaking the final refining process and selling the gold on behalf of Caledonia.
PYX Resources Ltd (LSE:PYX, NSX:PYX) said it increased production of both mineral sands metals and zircon in its latest quarter from its assets in central Kalimantan, Indonesia.
Together, premium zircon, rutile and ilmenite production rose by 29% to 2,500 tonnes (t).
Promising electromagnetics (EM) and other data have prompted Future Metals NL (ASX:FME, AIM:FME) to initiate a drill campaign to test a “significant area of anomalism” over an untested prospect – BC1 – at the Panton North Project, where the company is farming into a 70% joint venture interest.
Reverse circulation (RC) drilling is scheduled to kick off in mid-May, after the company completed ground investigations to follow up on a large, interpreted embayment feature identified during desktop analysis.
Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.) were among oil and gas giants which bagged billions of dollars from trading on commodity markets last year, according to estimates from Bernstein Research.
20% of Shell’s pre-tax earnings came from the US$16.6bn generated from buying and selling oil, gas and power in 2022.
Trident Royalties PLC (AIM:TRR)’s house broker Liberum has reacted positively to the diversified mining company’s first-quarter earnings, noting a “good start to the year” with royalty revenues up 63% year on year and 4% quarter on quarter.
Liberum’s analysts said Trident’s cash position, which was boosted to US$37mln from the disposal of pre-production gold royalties, puts the group on a “strong footing for the year ahead”.
KEFI Gold and Copper PLC's (AIM:KEFI, OTC:KFFLF) executive chairman, Harry Adams, recently attended a ceremony in Addis Ababa where the Ethiopian government announced a shift in focus from investment by governments to private sector growth and funding.
This was a significant development for the Tulu Kapi project, as it has been in a state of suspension due to security concerns.
MetalNRG PLC (LSE:MNRG) told investors it has now received £545,000 from a court in settlement of the principal amount due from BritNRG Ltd and Brit Energy Holdings LLP.
It added that the court had ordered MetalNRG to be paid the sum of £1.019mln plus costs, plus appeal costs and interest.
Trident Royalties PLC (AIM:TRR) posted record receipts of US$3.6mln from its portfolio of income streams in gold, copper and iron ore in the first three months of 2023.
Royalty receipts rose 63% to US$3.6mln, with an especially strong performance from gold, where there was a 48% rise over a year ago, and iron with the Koolyanobbing royalty seeing its highest payment to date, Trident said.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has reported numerous indications of gold from a high-resolution heliborne geophysical survey across the Nanoq, Siku and Jokum's Shear gold projects in Greenland.
In addition, the survey highlighted a large prospective zone to the immediate west of Nanoq, which exhibits similar controlling structures, opening up further target areas.
Aura Energy Ltd (ASX:AEE, AIM:AURA) has raised A$10 million via a share placement at A$0.185 per share to advance development across the company’s project portfolio.
The placement was supported by existing shareholders including Lind Partners and a number of new investors.
Greatland Gold has appointed Yasmin Broughton as an independent non-executive director.
A corporate lawyer, Broughton specialised in mergers and acquisitions, corporate finance and corporate governance at law firms, Clayton Utz and Ashurst.
Ferro-Alloy Resources has confirmed the resource upgrade flagged recently Ore-Body 1 (OB1) at the Balasausqandiq deposit in Kazakhstan.
Indicated resources of vanadium pentoxide (V2O5) rose 35% to 32.9mmln tones, with contained V2O5 upped by 23% to 30,000t.
Panthera Resources PLC (AIM:PAT) said its Burkina Faso joint venture partner DFR Gold has completed phase one of a 10,000-metre drilling program on the Cascades Project and expects full analytical results to be returned during the first half of this month.
A second phase of drilling will be driven by the results, targeting the highest priority results from the first phase.
Technology Minerals PLC (LSE:TM1) said it had successfully completed the field placement of beacons marking its five licences in Cameroon - areas prospective for battery metals nickel and cobalt.
The work, carried out by local firm Explorers 33 Consulting Group, also involved consultation with local villages falling within the five licence areas.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) said it produced 98,006 ounces of gold in 2022 at the Segilola Gold mine, located in Nigeria, which was its first full calendar year of commercial production.
The gold production was at the top end of the company's guidance range of 90,000 to 100,000 ounces. The plant operated above nameplate capacity, and exploration activities ramped up across the company's portfolio, delineating drill targets for 2023.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) said it had C$1.04mln at the end of last year, which it has recently topped up with a private placing.
The developer of the Omagh gold project in Northern Ireland reported a net loss of C$16.6mln for 2022.
Sovereign Metals Limited (ASX:SVM, OTC:SVMLF, AIM:SVML) is well advanced with its pre-feasibility study (PFS) and mineral resource update for the Kasiya Rutile Project in Malawi, according to RaaS Advisory.
RaaS noted that Sovereign has the potential to move lower on the industry cost curve, delivering stronger margins and NPV.