Beacon Events has announced the full launch of its rebranded Mines and Money conference.
Now called Resourcing Tomorrow, Beacon Events said the conference will reflect the changing landscape of the mining and resources industry through topics such as energy transition, ESG, and the need for environmental resilience.
"The worst should be behind us; onwards and upwards from here." They were the words of the mining team at Liberum, the boutique investment bank, analysing the first-quarter results of Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL).
The company's performance was marred by a less-than-auspicious start to oxide gold ore production at the Bilboes operation in Zimbabwe. Its main Blanket operation encountered operational and technical difficulties.
Blencowe Resources PLC (LSE:BRES) said it has successfully raised £635,000 through a share placement which involved issuing 12,700,000 new ordinary shares at a price of 5p each, a premium to Wednesday's closing price.
The company said the funds raised will be used to support the ongoing Definitive Feasibility Study (DFS) work for the Orom-Cross Graphite Project in Uganda. The study, managed by CPC Engineering, commenced at the beginning of 2023.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said it has inked an ‘at the market’ (ATM) deal with Cantor Fitzgerald that could see up to US$30mln shares sold on the company’s behalf.
The shares would be sold in the United States, under the company’s NYSE America listing, and would be sold at market prices, Caledonia said in a statement.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) (EMH) Cinovec lithium project was host to Czech Republic prime minister Petr Fiala and alongside the political visit has been boosted by the signing of a new co-operation deal in Germany.
The prime minister’s visit to what’s described as a “globally significant lithium project” saw a speech from the leader.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said the water treatment plant at its South Crofty tin project in Cornwall is nearing completion, with mine dewatering to start later this summer once the pump is installed.
Based on historic pumping records, mine dewatering is estimated to take 18 months to complete, the miner added.
Trident Royalties PLC (AIM:TRR) hailed the early developments at the Thacker Pass project in Nevada by operator Lithium Americas Corp (TSX:LAC, NYSE:LAC) (LAC) and the “tangible progress” from the US government after it announced updated guidance for mining claims.
The AIM-listed company has a 60% interest in a gross revenue royalty over the entirety of Thacker Pass.
Chaarat Gold Holdings Ltd (AIM:CGH) shares shot up almost 50% following a non-binding letter of intent and an indicative term sheet from Xiwang International for a potential equity investment of US$250mln.
Used to develop Chaarat's organic pipeline and external growth through value-added acquisitions, the investment would be in new shares issued at 2p a share.
Aura Energy Ltd (ASX:AEE, AIM:AURA) has received firm commitments to raise A$10 million via a placement and will seek a further A$1 million through a share purchase plan (SPP), with funds to be used across its uranium assets.
The company is transitioning from a uranium explorer to a producer in order to capitalise on the rapidly growing demand for nuclear power as the world continues to shift towards a decarbonised energy system.
Anglo Asian’s investment case remains unchanged after its result today, according to broker SP Angel which also tweaked its share price higher to 204p.
“A slight upwards adjustment to the target price reflects higher than we anticipated balance of unrecovered costs at the Gedabek CA recorded for PSA purposes that essentially carries the minimum 12.75% government share of production for longer.”
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said its subsidiary Maginito is to take 100% control of rare earths recycling specialist HyPromag for an initial consideration of £2mln and up to a further £3mln dependent on performance.
Currently 42% owned by Maginito, HyPromag has pioneered a way to produce rare earths from the hydrogen processing of magnet scrap (HPMS).
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) declared a final dividend of US$0.04 that maintained its full-year pay-out at US$0.08 per share for 2022.
This was a year in which the Azerbaijani gold and copper miner met production guidance, which was lower than the previous year due to lower grades mined at Gedabek, while all-in sustaining cost of production increased to US$1,064 per ounce from US$843 due to lower production.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has told investors it is undecided whether it will raise additional capital alongside its planned listing on the Australian Securities Exchange.
The company’s comment comes after a report in Australia which claimed that Greatland had appointed Bank of America and it is seeking to raise A$50mln to A$100mln.
Anglesey Mining PLC (AIM:AYM) is raising £1mln of additional capital through a share placing and subscription, with the proceeds expected to support its corporate and operational strategy.
The company intends to start drilling the Northern Copper Zone at the Parys Mountain copper/zinc/lead/silver/gold mine on the Isle of Anglesey in North Wales.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) chief executive Sebastien de Montessus has told investors that the company has continued to make significant progress on our ESG strategy.
The gold miner, in a statement accompanying its 2022 sustainability report, noted that the ESG strategy was formulated a few years ago following extensive consultation with a range of stakeholders and is guided by the aims of the United Nations Sustainable Development Goals.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) has appointed Keith Muller as chief executive, in a strategic move to strengthen mine-operating skills as the lithium exploration and development group seeks to deliver Ghana’s first lithium mine.
Muller brings over 20 years of operational and leadership experience to Atlantic Lithium, with a background in hard rock lithium mining and processing, specifically in dense medium separation spodumene processing.
Ora Banda Mining Ltd (ASX:OBM) has made significant strides in enhancing and expanding the mineralised system at Riverina Project in Western Australia, delivering more high-grade gold hits from the final round of a phase 1 program at the underground mine.
Standout assays include:
Canadian miner Newmont’s acquisition of Newcrest Mining has solidified its position as the world’s largest gold producer with pro forma attributable gold production of more than 8 million ounces, almost double that of the second largest producer Barrick Gold, analysts at Canaccord Genuity (TSX:CF, LSE:CF) have highlighted.
Newmont announced on Sunday evening that it has reached an all-share, friendly acquisition deal with Australian gold and copper miner Newcrest, which the analysts noted was in line with the best and final offer previously indicated by Newmont on April 10.
Celsius Resources Ltd (ASX:CLA, AIM:CLA) said it has entered into a non-binding term sheet and a binding subscription agreement which would see Canadian miner Silvercorp Metals Inc (TSX:SVM, AMEX:SVM) acquire all outstanding shares of Celsius at a fixed price of A$0.03 per share.
The consideration represents a 76% premium to the 20-day volume-weighted average price of Celsius shares on the ASX. The total value of the acquisition is estimated to be around A$56mln.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) today highlighted what it described as significant progress for its renewable energy developments related to its gold mining operations.
The company, in a stock market statement, told investors that the Barberton Mines’ Fairview solar facility is progressing though the signing of an engineering, procurement and construction (EPC) deal with JUWI Renewable Energies.
Shares in Pembridge Resources PLC (LSE:PERE) tanked 73% amid funding worries over Minto Mining, a Canadian company it has loaned C$2mln to.
Minto has told Pembridge it is unlikely to be able to repay the sum, including the $250,000 tranche due this year.
Great Southern Copper PLC (LSE:GSCU) said it has successfully raised £1,002,000 to support its ongoing exploration programs in Chile.
The funding was secured through a placing and subscription, as well as a convertible loan facility, and was oversubscribed, attracting support from existing, institutional and new investors.
Caracal Gold PLC (LSE:GCAT) has reported progress in its financing arrangements for the Kilimapesa gold mine and processing operation in Kenya and the Nyakafuru gold project in Tanzania.
The company has been working on securing financing for the Kilimapesa expansion project, and it said Philoro Global Trading AG has confirmed its commitment to participate in the funding, pending the company securing the remaining financing required.
Caledonia Mining Corporation PLC said it is confident it will hit its production guidance this year after encountering issues at its main operation, the historic Blanket Mine in Zimbabwe.
"The first quarter of 2023 presented several operational challenges at Blanket which resulted in lower production and higher costs,” said CEO Mark Learmonth.
Premier African Minerals Ltd (AIM:PREM) said it has successfully completed a placing which has raised £1,759,500 to optimise its Zulu Lithium and Tantalum Project's pilot plant in Zimbabwe.
The placement involved the issue of 190,216,216 new ordinary shares at an issue price of 0.925p each.
Galileo Resources PLC (AIM:GLR) said an airborne survey being carried out by two nearby explorers will record data on some of its licences in Botswana that it will receive at no cost.
Cobre and Sandfire’s joint survey will cover Galileo’s licence PL253/2018 as part of a wide-ranging overview of the Kalahari Copper Belt (KCB), including new discoveries by Cobre at Ngami, Kitlanya West and Kitlanya East.
Trident Royalties PLC (AIM:TRR) has acquired a royalty and milestone payment over a project nearing production in Mexico and its first income stream from silver.
La Preciosa is owned by Canada-listed Avino (TSX-V:ASM) Silver & Gold Mines, though Trident is acquiring the interest from Coeur Mining (NYSE:CDE).
Boosting its bank balance to evolve copper-gold discoveries in Ecuador, Sunstone Metals Ltd (ASX:STM) has received firm commitments from institutional and sophisticated investors to take part in a A$12 million raise.
Funders have agreed to raise the cash at 2.6 cents a pop, giving the explorer a sizeable funding runway to prove up its Bramaderos and El Palmar precious and base metal properties.