Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:)’s offtake partner Atlantic Lithium Ltd has revealed a definitive feasibility study (DFS) for the Ewoyaa Lithium Project in Ghana, West Africa, with low capital intensity and expanded annual production.
Piedmont holds a 9.4% interest in Atlantic, with an option to acquire up to a 50% stake in the company’s lithium properties. The deal also includes an offtake agreement covering half of Atlantic’s annual lithium production, on a life-of-mine basis at market prices.
Wishbone Gold said it had made good progress in the year to end December 2022, with the focus this year to follow up ground studies carried out during the off-season.
In particular, Wishbone highlighted a survey in April that identified its Red Setter prospect as an analogue of Newcrest's Telfer mine located only a few kilometres away.
Power Metal Resources said Golden Metal Resources, in which it has a 62.01% stake, intends to pursue a government grant to fund its 100% owned Pilot Mountain Project.
Golden Metal said it has commenced the application process for a short list of relevant grant programmes, although it cannot as of yet disclose which grants.
Rainbow Rare Earths taking full ownership of the Phalaborwa project, puts it in a much better position to move forward and take strategic financing decisions, according to chief executive George Bennett.
"Having 100% ownership removes lots of niggly things that happen when you have a partner."
A joint mining venture in Cornwall is hoping to produce enough lithium carbonate to power 500,000 electric vehicles by 2030.
French-based Imerys and British Lithium are planning to work together, with the financial backing of the government, to extract the product from a granite mine on the southwest coast.
Premier African Minerals Ltd (AIM:PREM) shares rallied as it reiterated the latest move from partner Canmax in an escalating dispute will have no impact.
Canmax has now served official notice to end an offtake and prepayment agreement for spodumene concentrate produced at the Zulu lithium and tantalum project, Premier said.
Jangada Mines PLC (AIM:JAN) said it had US$1.4mln cash at hand at the end of last year as it reported results for 2022.
These showed a loss of US$0.9mln from continuing operations as it focused on advancing the Pitombeiras project in north-eastern Brazil.
Caerus Mineral Resources said its delayed full-year results should be published before 14 July, and that it expects to request re-admission to the London Stock Exchange upon publication.
Ahead of the resource development company’s AGM today, the group confirmed that the full-year report and accounts to 31 December 2022 are in the process of finalisation, subject to a review from auditors.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said the definitive feasibility study (DFS) for its Ewoyaa project in Ghana had confirmed it as one of the world’s most attractive hard rock lithium developments.
The DFS attributed an after-tax net present value of US$1.5bn at Ewoyaa based on life-of-mine revenues of US$6.6bn, equal to a rate of return of 105% with payback in under two years.
Landore Resources Ltd (AIM:LND, OTC:LNDLF) said it has appointed Claude Lemasson as its new chief executive starting next week.
A mining veteran with 30 years of experience mining throughout the Americas, Lemasson most recently was a lead independent director at Premier Gold Mines and before that chief executive of TSX-listed Eastmain Resources.
Galileo Resources said it discovered a number of substantial gold targets from soil analysis around the Queen's mine located close to Bulawayo, Zimbabwe.
Laboratory analysis of 2,455 samples marginal to the Queen's gold mine, which is not part of the Galileo licence area, showed gold in-soils up 2.1 grammes per tonne (g/t) Au (2,100ppb).
Miners are facing a difficult remainder of 2023 with weakening global growth and tightening credit conditions likely to remain headwinds in the near term.
In addition, growth in China has disappointed the second quarter and without a convincing stimulus package metals prices are set to fall in the second half of the year.
Bluejay Mining PLC was off the pace this morning as market makers knocked the price down by 11% after a placing overnight at 1.75p.
The Finland and Greenland-focused explorer is raising £1.3mln to carry out more work on the Hammaslahti copper-zinc-silver-gold project where recent drilling has thrown up encouraging results, it said.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has said it is to take 100% ownership of the Phalaborwa project in South Africa after reaching an agreement with Bosveld Phosphates
Previously, Rainbow could earn a 70% stake on completion of a pre-feasibility study but under the new terms will take an 85% stake now through the payment of US$5mln cash.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said it expects to be in a position to issue delayed final results no later than 28 August.
It said the delay is due to the fact that it changed auditor to PKF Littlejohn earlier this month.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said a Pre-Feasibility study on the Hawiah mine project in Saudi Arabia has provided a solid basis to move forward to the next stage.
Net present value was calculated at US$301mln with an internal rate of return of 75%, based on ten-year life-of-mine revenue of US$2.7bn, operating cashflow of US$1.1bn and pre-production capital expenditure of US$295mln.
Ora Banda Mining Ltd (ASX:OBM) has chalked up an increase of more than 40% in gold mined to around 15,000 ounces at its Missouri open pit for the June quarter compared to the average of the previous three quarters with the WMC and Monarch lodes exposed and being mined.
These numbers at the Davyhurst Project in Western Australia have surpassed the company's expectations.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) has unveiled its inaugural sustainability report 'Progressing with Purpose' to underscore the company's dedication to environmental responsibility, social progress and sustainable governance as it develops projects in Tennessee and North Carolina.
“We are fortunate to be starting from a clean slate with the full ability to build sustainability into the foundation of our organisation,” Piedmont president and chief executive officer Keith Phillips said.
John Teeling, the Irish businessman, provided some direct insights on the poor performance of the stock in Arkle Resources PLC (AIM:ARK), the mining exploration firm he currently chairs.
“In recent months the Arkle share price has been volatile mainly due to one investor who purchased over 25 million shares equal to 6.8% of the issued equity only to sell off the block in large chunks a short time later,” he said in commentary accompanying Arkle's 2022’s results.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has appointed the former sustainability chief of the European Bank for Reconstruction and Development (EBRD) to its board as a non-executive director.
Dr Alistair Clark was managing director of the environment and sustainability department at the EBRD from 2001 until 2021, a period in which the bank undertook environmental and social appraisals of over 5,000 projects across a variety of sectors, including mining, and oversaw the development of policy frameworks for environmental and social issues.
Galileo Resources PLC (AIM:GLR) said it has taken up its option on a 51% stake in the Shinganda copper-gold project in Zambia after spending US$500,000 in direct exploration costs.
Under the terms of the joint venture, Galileo will fully fund and manage further drilling, metallurgical and scoping studies leading to the completion of a feasibility study.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said it has now put the first of two submersible pumps in place at the New Cooks Kitchen shaft at the South Crofty tin mine in Cornwall.
At a target depth of 360 metres below the surface, the pump, which is a key part of the mine dewatering process, required the connection and lowering of the pump on 120 three-metre-long steel pipes, which are suspended in the shaft.
Bens Creek Group PLC's (AIM:BEN, OTC:BENCF) progress with a newly installed highwall miner, HWM 81, has been stifled temporarily due to an incident that damaged the equipment.
The company, in a statement, noted that HWM 81 requires repair after the incident, which occurred during regular operations. US regulations require that the Department of Labor's, Mine Safety and Health Administration examine and approve any recovery or retrieval plan, before the equipment is retrieved.
Prospective UK-based battery producer Britishvolt faces further woes after its rescuers were hit in a tax raid by Australian police on Friday.
Law enforcers went to the offices of Scale Facilitation, which owns Britishvolt buyer Recharge Industries, and SaniteX to seize IT and communications equipment, according to reports.
Premier African Minerals Ltd (AIM:PREM) updated investors on its offtake situation for the Zulu lithium and tantalum mine project in Zimbabwe after a deadline to make a new deal expired.
The company, in a stock market statement, said that talks continue with previously proposed partner Canmax, though it cautioned that no agreement has yet been reached on amendments to their deal and certain terms currently proposed by the partner would not be acceptable to Premier.
Mineral sands producer Base Resources Limited (AIM:BSE, ASX:BSE) said production from its Kwale operations in Kenya will drop in the year to June 2024 as it shifts production from South Dune to the Bumamani orebody.
This will mean a shutdown of half the mining operation from March 2024 as South Dune's hydraulic mining units and slurry collection hopper are relocated to Bumamani, Base added.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has launched a maiden drilling campaign at Paterson South in Western Australia just four weeks after sealing a farm-in and joint venture deal with Rio Tinto Exploration.
Exploration drilling has begun at the Stingray target on the Budjidowns tenement, which lies to the north of Greatland's Havieron gold-copper project.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has said it is confident of finding a lithium development partner for its Uis mine in Nambia by the end of this year.
Interest levels have been encouraging and any transaction should be on attractive terms, Andrada added.