There are a number of positive catalysts on the horizon for Endeavour Mining PLC, according to analysts at Barclays who reiterated that the stock remains its preferred precious metals equity exposure in Europe.
In a note to clients, the analysts highlighted that on May 11, it was revealed that the West Africa-focused gold miner would be included in the MSCI Standard Development Market indices, with the rebalance effective after the market close on May 31.
Premier African Minerals Ltd (AIM:PREM) told investors it expects the first Spodumene (SC6) shipments from the Zulu lithium and tantalum project, in Zimbabwe, to take place in June.
Based on current concentrate prices and production, should it continue to the end of August, the company expects that Zulu will be operating profitably.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) shares rose 11% in morning trading after it said it is edging closer to production and is looking to fund first production at the Empire Mine copper mine with minimum additional dilution to shareholders.
The comments came as the company, an emerging producer and exploration firm focused on base and precious metals in the USA, reported its results for the year ended 31 December 2022, showing an increase in its investment in the Empire Mine to US$33.10mln, up from US$26.12mln in the previous year.
Panthera Resources PLC (AIM:PAT) has released what it described as “very positive” results from its drilling programme at the Cascades gold project, where it has now completed Phase Two of its drilling (covering some 10,000 metres).
The company, in a statement, said it has received full analytical results from its joint venture partner, DFR Gold, including some 5,641 metres of drill results across 57 drill holes on five target areas.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) (EMH) has said it is delighted with results from metallurgy tests on ore from its Cinovec lithium deposit, with a flotation process repeatedly hitting more than 95% recoveries.
Flotation is a process that crucially does not involve the use of acid so is cheaper and less environmentally damaging.
Jaguar Land Rover's Indian owner Tata Group is reportedly set to build a 'gigafactory' in Somerset to manufacture batteries for its electric vehicles.
Tata chair Natarajan Chandrasekaran is scheduled to meet prime minister Rishi Sunak next week, with the final decision expected to be based on the size of the state support package, the Financial Times reported.
Rio Tinto, BHP and Vale share prices all reflect iron ore prices way below current spot levels, according to broker Jefferies, which concludes the three mining giants look good value as a result.
Markets currently are pricing in a benchmark iron ore price of US$81.37/t, it says, which compares to a spot price of US$99.05 and Jefferies' own long-term forecast of US$90/t.
Corcel PLC (LSE:CRCL) shares advanced in Wednesday morning’s trade after the firm announced a deal to acquire onshore oil assets in Angola, including past-producing fields which it plans to reactivate.
The company, in a statement, said it agreed to buy a 90% stake in Atlas Petroleum Exploration Worldwide (APEX), which has interests of between 20% and 35% in a total of seven fields in the Kwanza basin.
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) has appointed Philipa Varris as independent non-executive director as part of its global expansion strategy.
The company, in a statement, highlighted the importance it places on upholding the highest standards of sustainability.
In an exciting development for its nickel, copper and platinum group metal (PGM) targets, Future Metals NL (ASX:FME, AIM:FME) has kicked off 2,000 metres of reverse circulation (RC) drilling at its Panton North property in WA.
The polymetallic exploration play — covered under a farm-in agreement with Octava Minerals Ltd (ASX:OCT) — neighbours FME's cornerstone Panton PGM-nickel camp, just 60 kilometres north of Halls Creek in the tier-one eastern Kimberley region.
URA Holdings PLC (LSE:URAH) saw its shares jump 14% higher on Tuesday morning after the firm said it had raised £280,000 through an oversubscribed placing and subscription, issuing 14,000,000 new ordinary shares at a price of 2.00p per share.
The fundraise was conducted at a 10% discount to the mid-market closing price on 19 May 2023, and falls within the company's existing authority to issue shares for cash on a non-preemptive basis.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said assay results from the first five holes of the 2023 Basin East Extension (BEE) drill programme in Arizona included the highest grades seen so far across the whole deposit.
The junior added the results confirm that lithium-bearing clay continues and thickens to the west, northwest and north into its BEE lease, a trend expected to lead to a significant resource expansion in the second half of the year.
Landore Resources Ltd (AIM:LND, OTC:LNDLF) has announced significant changes to its board of directors and management, which see both a new chairman and a new chief executive officer (CEO) appointed.
The company said Charles Wilkinson, its non-executive chairman, has announced his retirement and will not seek re-election at the upcoming Annual General Meeting (AGM) scheduled for 29 June 2023.
Shares of Polymetal International PLC (LSE:POLY) plunged 10% in early trading on news that its Russian subsidiary, JSC Polymetal, has been placed on the US Specially Designated Nationals and Blocked Persons list (SDN).
The firm, which has operations in Russia and Kazakhstan, said it and its legal advisors are assessing the implications of this designation by the US Department of State.
ECR Minerals PLC (AIM:ECR) said it has shifted its exploration focus to North Queensland following mixed results from its activities in Victoria.
In a statement, Andrew Haythorpe, CEO of ECR Minerals, commented: "While the board are pleased to have finally received assays for our drill programs in Victoria, the latest results have not been as encouraging as we would have hoped."
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) said its new mine in Tanzania, Singida, is on track for commercial production with two shipments made already.
As a result, the focus of activity has now switched back to exploration and expanding reserves, Eric Zurrin, Shanta chief executive, added.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has reported the completion of its first bulk lithium concentrate from its pilot project near the town of Uis in Namibia.
The company, in a statement, said potential offtake partners have indicated that this concentrate composition represents a desirable lithium product.