Global Energy Metals Corporation announced that its strategic partner, Kingsrose Mining Limited, has acquired and interpreted ground-based electromagnetic (EM) and other surveys at the Bruvann Mine area of the Råna Project in Norway.
The surveys identified strong apparent conductive bodies with the potential for massive sulphide mineralization in three localities proximal to the past-producing Bruvann Mine, the company said.
Montero Mining and Exploration Ltd (TSX-V:MON) has updated investors on its recent share price movement.
The company’s US and Canadian-listed shares were halted at the market close on Wednesday, July 19, after spiking by about 155% and 189% respectively since July 14.
TNR Gold Corp (TSX-V:TNR, OTC:TRRXF) said its board of directors has given the green light to a shareholder rights plan designed to safeguard against unsolicited or creeping takeover bids, although it emphasized that it was not a response to any specific acquisition proposal.
TNR Gold said the rights plan, drawn up in collaboration with Computershare Trust Company of Canada as the rights agent, aligns with similar plans implemented by other Canadian issuers, seeks to provide the board with ample time to evaluate any potential takeover bid or acquisition and, if deemed appropriate, explore alternative strategies that could enhance shareholder value.
Glencore’s profits from trading metals and oil and coal this year will be close to US$4 billion, the FTSE 100 group said today.
That’s ahead of its long-term guidance but lower than 2022, which was buoyed by the surge in oil and coal prices after the start of the Ukraine war.
Condor Gold ticked higher as the mining junior announced eight companies had signed non-disclosure agreements (NDAs) for its asset in Nicaragua.
Three of these had visited the site, said Condor, with more interest forthcoming in the past two weeks.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) (EMH) is to receive a €6mln investment from the European Bank for Reconstruction and Development (EBRD) to help fund the Cinovec lithium project in the Czech Republic
Premier African Minerals Ltd (AIM:PREM) told investors it has agreed to borrow up to £1.7 million in a loan from chief executive George Roach.
The short-term funding option, announced today, eases pressure on the firm which has become entangled in a dispute with partner Canmax. It allows operations to continue progress in the field, whist corporate matters are being dealt with.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it has received five non-binding offers and organised three site visits after putting its assets in Nicaragua up for sale last November.
Additional enquiries have been received in the past two weeks, Condor said in a statement.
ION Energy said it has completed a non-brokered private placement of four million units of the company, at $0.25 per unit, for gross proceeds of $1 million.
The company said the proceeds of the offering will be used for exploration activities at its properties and general corporate purposes.
Canada Silver Cobalt Works Inc (TSX-V:CCW, OTCQB:CCWOF) (CCW) announced that it has made “significant discoveries” through its surface exploration efforts in the Miller Lake area at the Castle Mine property in Ontario, with multiple samples greater than one gram per tonne (g/t) gold and ranging up to 3.2 g/t gold.
The precious metal and battery metals properties developer said through prospecting, stripping and new geophysics, CCW is finding additional targets for unlocking mineralization in addition to the known silver and cobalt at the former high-grade Castle Silver Mine.
Newmont Mining Corporation of Canada Ltd (TSX:NGT) has reported second-quarter earnings that fell short of market expectations, sending its shares lower on Thursday.
However, the gold mining company said it remains on track to achieve its full-year guidance following decisions it took during the period ended June 30, 2023.
Freeport-McMoRan Inc (NYSE:FCX) shares gained ground Thursday after the mining company beat second-quarter expectations on the top and bottom lines.
Freeport posted revenue of $5.74 billion, up 6% year-over-year and topping the Zacks estimate of $5.65 billion. Adjusted earnings came in at $0.35 per share, higher than the Zacks estimate of $0.28 per share.
BullionVault Ltd has said half of the private investors (49.5%) it surveyed have forecast that the price of gold will increase by 10% by the end of the year, to around $2,125 per troy ounce.
Some are even more bullish, according to the firm's half-yearly research report, with 15% believing that the gold price will increase by 20%, while one in five (21%) predict no change. That gives a consensus outlook for gold to end 2023 at $2,110.
Benchmark Metals Inc. (TSX-V:BNCH, OTCQX:BNCHF) told investors it has completed over 6,000 metres of drilling at the Dukes Ridge and Cliff Creek deposits since it started drilling on July 1, 2023.
In a statement, the company said the drilling, part of a larger 20,000-metre drilling program planned for this year, is focused on expanding resources beneath the deposits at its flagship Lawyers gold-silver project in the prolific Golden Horseshoe region of British Columbia.
Anfield Energy Inc. (TSX-V:AEC, OTCQB:ANLDF) said it has completed the acquisition of Neutron Energy, a wholly-owned subsidiary of enCore Energy Corp,
The acquisition sees Anfield gain control of the Marquez-Juan Tafoya uranium project in the Grants Uranium Mineral District, approximately 50 miles west-northwest of Albuquerque, New Mexico.
Nano One Materials Corp (TSX:NANO, OTC:NNOMF) has told investors that initial engineering plans for its first full-scale commercial plant are nearing completion after it expedited lithium iron phosphate (LFP) trials, One-Pot factors, sampling and pilot production plans.
In a statement, the company also announced six new patents in Canada, the US and Japan that it said will significantly enhance its global portfolio of intellectual property (IP).
Shanta Gold climbed 13% on an upbeat second-quarter update that attracted plaudits from the City.
Liberum said it had been an excellent quarter for the Tanzania -focused gold miner, especially the new Singida mine, which it described as a "perfect start-up" and delivering beyond expectations on recoveries (97.3% in the second quarter versus New Luika peak of 92% in 2017).
Premier African Minerals Ltd (AIM:PREM) has updated investors on its ongoing, and separate, talks which seek to resolve its offtake dispute and alternate funding arrangements.
At the same time, it confirmed progress at the Zulu lithium project in Zimbabwe where commissioning plant upgrades are continuing, whilst the project remains under its current ‘force majeure’ status.
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) climbed to the top of AIM risers as it revealed a 92% jump in gold production from its operations in Tanzania in its latest quarter as a new mine at Singida came on stream.
Singida contributed 10,065oz following the first gold pour in March out of a total of 29,403oz in the three months to June.
Jubilee Metals hit record production levels in the year to end June 2023, with further increases forecast in the current year.
The Zambia and South Africa-focused tailings processor produced 42,470 ounces (oz) of platinum (2022: 41,450 oz), 1.29mln tonnes (2022: 1.20mln) of chrome and 2,920 tonnes (t) of copper (2022: 2,270).
Ariana Resources has confirmed its 58% owned subsidiary Venus Minerals is to list on AIM after discussions with investors.
Cyprus -focused Venus is proposing to raise up to £3mln from new investors, which will reduce Ariana’s stake to 35%.
Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) has achieved a key milestone by completing essential studies and initiating early contractor engagement to deliver on the definitive feasibility study (DFS) for its Ta Khoa Refinery Project in northern Vietnam.
In recognising the significance of local expertise, the company has enlisted the support of Vietnamese contractors to expedite construction and permitting timelines to ensure the project is ‘Vietnam-ready’.
Musgrave Minerals Ltd (ASX:MGV, OTC:MGVMF)’s Cue Gold Project joint venture (JV) partner Evolution Mining Ltd (ASX:EVN) has defined a maiden mineral resource estimate (MRE) for the West Island prospect in Western Australia’s Murchison district, further unlocking the value of the project.
The JV partners have delineated 1.7 million tonnes of material in the inferred category, grading 2.6 g/t gold for a total of 142,000 ounces at a cut-off grade above 0.73 g/t gold.
KEFI Gold is set to become “AIM’s next gold producer” according to house broker WH Ireland, following the signing of the announcement of the final umbrella agreement for financing its Tula Kapi project in Ethiopia.
Construction is expected to start later this year, with the first gold production and cash flow coming as early as 2025, the broker said.
Sidney Resources Corporation (OTC:SDRC) has provided further comment on the completion of the first round of laser testing at the prestigious Colorado School of Mines earlier this month.
Initial laser testing at the Colorado School of Mines was a huge success, marking a major milestone for Sidney Resources and the mining sector as a whole. Sidney said it is committed to continuing its research and development efforts with the support of the Colorado School of Mines and other industry leaders in order to improve mining's long-term sustainability.
Transition Metals Corp (TSX-V:XTM) has completed a comprehensive ground fixed loop electromagnetic (EM) survey on its Maude Lake property in Ontario, and the company announced the receipt of a federal grant supporting its exploration efforts.
Transition has won an Ontario Junior Exploration Program (OJEP) grant of up to $200,000 from the Ontario Government to cover 50% of eligible explorations costs on the project, which is aimed at facilitating the exploration of critical minerals within Ontario.
Regency Silver Corp. (TSX-V:RSMX, OTCQB:RSMXF) said it has completed its Phase 1 drill program for 2023 with mineralized breccia intersected in 8 of 9 holes.
The company said the eight follow-up holes surrounding hole REG-22-01 have intersected sulphide-specularite supported breccias similar in nature to the breccia hosting gold-copper-silver mineralization in holes REG-22-01, REG-23-14 and REG-23-15.
Ariana Resources jumped 13 % as it confirmed construction work had resumed at the Tavsan mine in Turkey after a court ruling in favour of partner and operator Zenit.
Work at the project had been halted while the Administrative court in Kütahya considered environmental concerns raised in the local community.
Shares in Rio Tinto PLC (LSE:RIO) eased slightly after a mixed update from its second quarter that highlighted strong iron ore production but issues elsewhere, especially in copper.
Iron ore output will be at the higher end of this year’s guidance of between 320-335 million tonnes (Mt), though forecasts for refined copper were cut to 160,000-190,000t even with the start of the Oyu Tolgoi being ahead of plan.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) told investors it has now installed its second submersible pump at the South Crofty tin mine project in Cornwall and commissioning of variable speed drives (VSDs) has begun.
The company said it has also inked a contract to secure supply of 100% renewably generated power for the project over the next 15 months.
Ariana Resources PLC (AIM:AAU) said its joint venture has restarted mine construction at the Tavsan site in Turkey after the Kütahya Administrative Court ruled in favour of Zenit, the project operator, after local objections.
Zenit’s team has now remobilised to the site to advance construction operations, taking advantage of the summer weather conditions, Ariana added.
Trident Royalties PLC has welcomed a US Court of Appeal ruling on the Thacker Pass that allows the vast lithium project to proceed.
An appeal to overturn the US Bureau of Land Management managers' approval of the Nevada project was rejected by a San Francisco-based appellate court that ruled the agency had acted "reasonably and in good faith" in granting the go-ahead.
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF) is advancing its Australian exploration efforts in the second half of the year with an 8,000-metre drilling plan that targets key prospects in Western Australia's Pilbara region and at the Belltopper Gold Project in Victoria.
The surge in activity follows the A$10 million cornerstone investment the company secured alongside an earn-in and joint venture with De Grey Mining Ltd.
Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) is adopting an accelerated plan for in-house resin processing and dry yellowcake uranium production, aiming to become a fully independent end-to-end producer of the partially refined ore.
This strategic shift is in response to the termination of its resin processing agreement with Uranium Energy Corp (UEC)
Anson Resources Ltd (ASX:ASN) has taken a step toward converting its JORC-compliant mineral resource estimate for the Paradox Basin lithium projects into ore reserves with the finalisation of a 3D geological model.
The model covers the regions host to both the Paradox and Green River lithium projects in the basin and is actively being imported into a numerical Hydrogeological Flow Model that will be used in converting the JORC inferred resources into the indicated category and from there into JORC ore reserves.
Toubani Resources Inc (ASX:TRE, OTC:AGGFF) has completed a successful regional drilling campaign, encountering gold at all seven drill-tested targets and expanding the mineralised strike at the Kobada Gold deposit in Mali to 11 kilometres from five kilometres.
The company struck gold at the Gosso, Kobada East, Kobada North 1 and 2, Kobada West, Kobada South and Junction/Foroko targets, with best results including 1-metre at 24.8 g/t gold and 9 metres at 1.72 g/t gold.
Bellevue Gold Ltd (ASX:BGL) is making strong construction progress at its 100%-owned Western Australian namesake gold project, ensuring it remains on budget and set for first production next quarter.
The first toll treatment material from the Vanguard open pit has been trucked to the Gwalia plant, which will enable the company to generate early cash flow ahead of the start of processing at the Bellevue Gold Mine plant in the December 2023 quarter.
Auxico Resources Canada Inc (CSE:AUAG, OTCQB:AUXIF) said its joint venture partner Central America Nickel (CAN) has acquired 7 million shares and 3 million warrants with a strike price of C$0.15 for three years in the capital of Auxico.
A long-term investor, CAN has acquired these shares due to the strategic importance and substantial quality of rare earth and other critical minerals at Auxico’s highly-prospective Colombian and Brazilian projects, Auxico said in a statement.
MTB Metals (TSX-V:MTB, OTCQB:MBYMF) Corp has announced initial results from drilling on the Red Cliff gold-copper project in British Columbia’s Golden Triangle region, which included 26 grams per tonne (g/t) gold over 2.0 meters (m) that extends the known mineralized zone at Upper Montrose.
The resource projects developer said the results highlight the potential of the Upper Montrose zone, while work is continuing in order to better understand the distribution of high-grade gold values within the mineralized zone.
Gold Basin Resources has reported initial soil and rock assays from its second quarter 2023 sampling and prospecting program at its 100%-owned Gold Basin oxide gold project in Arizona.
The company said the assays define three kilometre (km)-scale gold anomalies, including 3.25-km-long and 1.7-km-long trends north of the Cyclopic oxide gold deposit and a 1-km-long trend located 2.3 km southeast of and along strike from Cyclopic.
First Phosphate Corp. (CSE:PHOS) said it has signed a non-binding memorandum of understanding (MOU) with NorFalco Sales, a division of Glencore Canada Corporation, to secure a crucial supply of sulfuric acid for its future industrial facilities in Saguenay-Lac-St-Jean, Quebec.
Under the terms of the MOU, pending the parties' agreement on a definitive sulfuric acid supply arrangement, First Phosphate will have access to NorFalco's sulfuric acid supply for its planned phosphoric acid and other industrial facilities located in Quebec.
Global Energy Metals Corp (TSX-V:GEMC) (GEMC) has welcomed the acquisition of a significant stake in the company by entrepreneur Stefan Gleason.
Gleason, who owns and leads several privately held businesses in the US, including Money Metals Exchange LLC, has acquired 14.18% of GEMC's issued and outstanding shares on a partially diluted basis.
Great Southern Copper PLC (LSE:GSCU) told investors it is “very pleased” with the latest batch of exploration results from the Abundante prospect, part of the Especularita project in Chile.
High-grade samples found in historical mine workings provide sufficient encouragement for the exploration team to fast-track this area for follow-up work, the company highlighted in a stock market statement.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) has moved closer to making its maiden resource estimate for the Rupice Northwest (RNW) deposit at the Vares silver project in Bosnia & Herzegovina, as it today received the final batch of assays that will be included in the upcoming report.
The company, in a detailed statement, highlighted a continuation of previously reported high-grade zones in the drill results in the RNW Lower Zone, whilst in-fill drilling of the RNW Main Zone similarly returned assays that are consistent with earlier results in the programme.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) has upgraded its gold resource at the Omagh gold project, in Northern Ireland, lifting resources by 77% and increasing confidence in the mine's development.
The update resource estimate is based on data from 42 additional drill holes and a review of gold veins seen at the project, and, includes in detail, the extension and depth continuity of the Kearney and Joshua vein systems.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has raised £7.7 million of new capital and at the same time told investors that it has now kicked off the commissioning of operations at its pilot plant in Namibia.
Proceeds are earmarked for an expansion of Andrada’s tin, tantalum, and lithium exploration and production circuits, plus working capital.
FYI Resources Ltd (ASX:FYI, OTCQX:FYIRF) has conditionally been awarded an A$3 million grant from the Western Australian Government’s Investment Attraction Fund (IAF), which will accelerate the development of its innovative high purity alumina (HPA) project.
The grant recognises the importance of FYI’s project to the state of WA and will support the continued development of the company’s strategy to become a supplier of high-quality HPA.
Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) has boosted its finances to the tune of A$2.8 million after receiving an advance for expenditure incurred in FY 2023 on research & development (R&D) activities.
The advance has come from an R&D lending fund backed by Asymmetric Innovation Finance and Fiftyone Capital and offsets Blackstone’s 2023 refundable tax offset for R&D expenditure.
Two years of systematic surface work at its Copper Duke Project in southern Ecuador has led Titan Minerals Ltd (ASX:TTM) to the discovery of an extensive copper-gold porphyry system at the El Huato and Lumapamba prospects.
The company’s exploration, including collection and integration of copious amounts of data at the prospects, has uncovered a mineralised system as old as the Cerro Verde-Santa Rosa copper-molybdenum porphyry deposit in Peru, one of the largest copper districts in the world with 17 million tonnes of copper.
Anson Resources Ltd (ASX:ASN) has agreed to buy the strategically located Green Energy Lithium Project from Legacy Lithium Corp, which will result in ASN’s Paradox Lithium Project becoming one contiguous mineralised block with an 8% increase in land area, to a total of 231.35 square kilometres.
The company is looking to acquire all the placer claims that make up the project from Legacy Lithium Corp. for US$1 million in cash and 15,060,981 ordinary shares.