Contango Holdings PLC (LSE:CGO) shares rose 5% in morning trading as it announced plans for the formal opening of the Lubu Coal Project in Zimbabwe, following the commencement of first washed coal last month.
The company said the President of Zimbabwe, His Excellency Dr Emmerson Mnangagwa, will visit the company's flagship Lubu Coal Project on 21 July 2023, joined by a number of senior ministers, Zimbabwean officials, domestic and international press, Contango's existing and potential partners, as well as members of the Contango board.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) has highlighted its strong cash position and a number of significant developments as it reported its results for the three months ended 30 April 2023.
At the end of the period, Cornish Metals had net cash of $49,078,875, up from $4,286,535 a year earlier, boosted by a share offering. It also reduced its loss for the period to $206,802, down from a $979,427 loss at the same stage in 2022.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) confirmed it expects the first of its two new mines under construction, Gilar, to move into production later this year.
Gilar, along with Zafar, its other new mine, is crucial in the company’s plans to become a mid-tier copper producer within five years, said chief executive Reza Vaziri ahead of its AGM.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) has said it will start a new surface drilling program at the Omagh project in Northern Ireland in early July following permission for eight new exploration holes.
Gaps and areas of the inferred resource at the main Joshua Vein will be the target including an additional predicted dilation zone, which Galantas said has the potential for higher widths of mineralisation.
Ora Banda Mining Ltd (ASX:OBM) has successfully completed the sale of four non-core exploration tenements to Beacon Minerals Ltd.
The completion of the Beacon transaction marks a milestone for Ora Banda and the company has received the full consideration of $2.5 million (excluding GST) from Beacon.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has strengthened its critical minerals standing in the heart of Europe by completing the acquisition of highly prospective lithium ground in the resource-rich Styria mining district of Austria near its advanced Wolfsberg Lithium Project.
Manganese - 0.87% stake in Jupiter Mines that owns nearly 50% of the Tshipi open pit manganese mine in South Africa.
Cooper/cobalt - three licences in the Democratic Republic of Congo.
Bushveld Minerals says it is undertaking a series of measures to restore momentum in operational stability, revenue generation, cost constraint, profitability and cash generation after a disappointing year.
Revenues for the year to end December 2022 rose to US$148mln (US$107mln), with net losses for the year US$35.4mln (US$34.2mln).
Ariana Resources PLC (AIM:AAU) managing director, Kerim Sener, described as 'impressive' initial drilling results from the Hizarliyayla area of the Salinbas Project in Turkey.
Notable highlights include intercepts of 23.1 metres (m) at 0.34 grams per ton (g/t ) gold (Au), 2.83 g/t silver (Ag) and 0.13% zinc (Zn); 18.6m at 0.22 g/t Au, 1.18 g/t Ag and 0.15% Zn; and 3m at 0.88 g/t Au, 37.97 g/t Ag and 2.00% Zn.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) said it expects to reach ore by the end of this month at its Vares project in Bosnia and Herzegovina and produce the first concentrate in November.
It said 78% of total project construction is complete so far, with the lower decline development currently at 606 metres (m), the upper decline at 550m and all long lead items ordered.
CleanTech Lithium PLC (AIM:CTL, OTCQB:CTLHF) has announced the appointment of Tommy McKeith as an independent non-executive director (NED) and has also made other changes to its board and board committees structures.
McKeith, an experienced public company director and geologist with over 30 years of mining industry expertise, brings strategic insights to CleanTech Lithium. He has held leadership roles in international mining companies and various ASX-listed mining companies.
London-listed Power Metal Resources PLC (AIM:POW) has outlined its largest-ever uranium exploration campaign, with work to be carried out in at least 10 of its 17 Canada-based properties in 2023.
Points of focus for the group’s campaign include:
Eclipse Metals Ltd (ASX:EPM) is galvanised by mineralogical findings at its Grønnedal rare earths prospect within the Ivigtût Project in Greenland, where analysis has revealed a composite ferro-carbonate mineral containing elevated medium to heavy rare earths.
Recent mineralogical work and percussion drilling focused on pink-orange minerals over a 1.5-kilometre by 3-kilometre area on the broader Ivigtût asset, which has the potential to host several critical mineral commodities.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) partner Atlantic Lithium Ltd has delivered “significant” lithium widths and grades from relatively shallow depths in infill resource drilling at the Ewoyaa Lithium Project in Ghana.
The company has received assays for the initial 2,208 metres of reverse circulation drilling, part of an 18,500-metre program at Ewoyaa.
Rio Tinto has announced more than US$900mln of investment into its Kennecott copper mine near Salt Lake City, Utah.
Around US$500mln has been earmarked for the underground development and infrastructure for an area known as the North Rim Skarn with production to start from 2024 and ramp up to 250,000t of copper over ten years.
Power Metal subsidiary Golden Metal has identified two further high-priority exploration targets on its flagship Pilot Mountain tungsten project in Nevada from an IP survey.
The two new undrilled exploration targets at ‘Porphyry South’ and ‘Good Hope West’, make it five high-priority targets at Pilot Mountain, said the statement.
Research house First Equity added the targets underlined the “massive potential” to improve the size of what is already a sizeable deposit at Pilot Mountain.
The deposit has an existing Mineral Resource Estimate (MRE) of 12.53mt at 0.27% tungsten trioxide, with 34,290 tonnes of contained tungsten, along with significant silver, copper and zinc credits.
Government ministers have moved to block a ban on the development of new coal mines in the UK, as the Energy Bill passes through Parliament after a series of delays last year.
House of Lords’ peers had added the prospective ban to the bill in April by a tight three-vote majority, but a government spokesperson told the BBC the plan would be dropped.
Shares in Capital Metals PLC (AIM:CMET) fell by 42% to 1.2p after the mineral sands company confirmed a placement to raise £500,000.
Some 50mln ordinary shares will be issued at 1p per share, which represents a discount on yesterday’s close of 2.12p.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said initial assay results from the latest resource and exploration drilling at Ewoyaa in Ghana indicate more significant widths and lithium grades.
Around 2,208 metres (m) of infill reverse circulation drilling has been completed as part of a broader 18,500m 2023 planned drilling programme.
Sunstone Metals Ltd (ASX:STM) has intersected a strongly mineralised porphyry gold-copper system at depth at T3 target within the El Palmar Porphyry Gold-Copper Project in northern Ecuador, which the company believes is a “significant discovery”.
Assays from drill hole EPDD026 demonstrated substantial gold and copper widths and grades in line with other prominent porphyry deposits globally, with results including:
Celsius Resources Ltd (ASX:CLA, AIM:CLA) is set to explore a new tenement at the Botilao Porphyry Copper-Gold Prospect in the Philippines, now that its Philippine subsidiary, Makilala Mining Company Inc, has lodged an application for an exploration permit.
The secondary tenement, adjacent to the company's Maalinao-Caigutan-Biyog (MCB) Project, has the potential to extend the operational mine life and complement the development of the area with the expansion signifying the company's commitment to enhancing its portfolio of copper-gold assets in the Philippines.
Aura Energy Ltd (ASX:AEE, AIM:AURA) has finalised its share purchase plan (SPP) for proceeds of A$670,495.
Funds from the SPP announced on May 3, 2023, combined with the company’s recent placement take total capital-raising proceeds to A$10.7 million.
Sovereign Metals Limited (ASX:SVM, OTC:SVMLF, AIM:SVML) has kicked off a bulk sample program for its graphite – aiming to qualify, conduct downstream test work and develop new products.
Ariana Resources PLC (AIM:AAU) has revealed significant progress in its drilling program at Salinbas and Ardala in Turkey and updated on exploration across the wider project area.
The mineral exploration and development company with gold mining interests in Europe said it completed the deepest hole drilled into the Ardala Porphyry to date, reaching a depth of 745.3 metres (m). The hole yielded a significant intercept of 461.8m containing 0.22% copper, 0.23 grams per tonne (g/t) gold and 155 parts per million (ppm) molybdenum from 283.5m.
Anglesey Mining has started preparations for a new round of drilling at Parys Mountain on Anglesey.
In particular, the Northern Copper Zone will see its first infill drill programme since 1974 comprising six drill holes (3,700 metres) to verify earlier results and test for extensions.
Blencowe Resources PLC (LSE:BRES) has said that further metallurgical test work on its Orom-Cross graphite project in Northern Uganda has confirmed the high quality of end products.
The test work, conducted by the leading Chinese graphite technical specialist laboratory at Wuhan University, was carried out on a substantially increased scale of 150kgs.
Empire Metals Ltd (AIM:EEE) claimed it now has one of the largest and most prospective exploration footprints across Australia after its Pitfield “Giant” mineral system discovery in WA.
Only 2% of Pitfield, which hosts copper and titanium, has been explored, Empire Metals added, with the titanium potential to be the focus in the short term.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has reported more high-grade results from depth at Havieron, Western Australia, where it says the main access decline for the mine has now reached 1,700 metres (m).
Partner Newcrest (70%) is developing the project alongside Greatland (30%) with the latest infill results showing more significant intersections within the South East Crescent area.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has announced that all key funding conditions for the Tulu Kapi Gold Mine in Ethiopia have been met, allowing it to proceed with reviews and approvals to unlock a US$390mln project finance package.
A total of US$370mln, which primarily covers arrangements with first-tier banks, contractors and investors, including the Ethiopian Federal and Regional governments, has already been assigned. The remaining US$20mln has also been allocated to specific participants and is expected to be finalised in the coming months.