Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) is a step closer to being a player to be reckoned with in the growing US lithium market.
The Tennessee Department of Environment and Conservation has issued a Conditional Major Non-Title V Construction and Air Permit (air permit) for Piedmont's proposed Tennessee Lithium project in McMinn County, Tennessee.
First Quantum Minerals (TSX:FQM)’s unchanged 2023 production guidance signals a "positive" and strong second half for the copper-focused base metals miner, according to Stifel analysts, even as the company's second-quarter 2023 earnings ($0.12 per share) and cash costs fell short of their estimates.
Overall, they are neutral on First Quantum’s 2Q results and outlook but have a ‘Buy’ rating on the stock, as the company’s quarterly copper production of 187,000 tonnes exceeded expectations by 7%.
Agnico Eagle Mines Ltd (TSX:AEM) announced on Thursday record second-quarter 2023 gold production of 873,294 ounces, at an all-in sustaining cost (AISC) of US$1150 per ounce, the first full quarter of the company’s 100% ownership of the Canadian Malartic mine.
The gold miner noted that its 2Q output was partially offset by lower production at Detour Lake in Ontario, and LaRond, in Quebec.
Murchison Minerals Ltd (TSX-V:MUR, OTCQB:MURMF) has successfully closed its non-brokered private placement, raising C$1.5 million to fund its exploration activities in Canada.
"The high degree of interest and support the company received in this private placement speaks to the confidence our shareholders have in Murchison's projects and our ability to execute on objectives,” CEO Troy Boisjoli said in a statement.
Eskay Mining Corp (TSX-V:ESK, OTCQX:ESKYF) has determined new high-priority drill targets and begun its 2023 diamond drill campaign at its Consolidated Eskay Gold project in British Columbia, the company announced.
The campaign is primarily targeting precious metal-rich volcanogenic massive sulfide (VMS) deposits, the company said.
Mila Resources rocketed 75% higher as investors applauded its deal to allow Aussie miner Liontown to explore for lithium on its Kathleen Valley tenements in WA.
Mila and its partners will keep the rights to explore for gold but Liontown, which already has lithium acreage next door plus offtake agreements with Tesla and Ford, will fund and carry out all the exploration and heritage work for the battery metal.
Renforth Resources Inc (CSE:RFR, OTCQB:RFHRF) said the mineralized McCart Nickel Property has been added to its Ontario exploration property portfolio.
Renforth acquired the McCart property, which consists of nine staked claims, at no cost. It owns 100% of the rights to the claims with no encumbrances.
Tocvan Ventures Corp. (CSE:TOC) said it has entered into a binding Letter of Intent (LOI) to acquire additional land immediately adjacent and north of its Pilar gold-silver project in Mexico’s Sonora state.
Tocvan CEO Brodie Sutherland said the acquisition of the 2,172.7 hectares from a private title holder is “a company-changing event that provides us access to what we believe is a highly prospective area adding significantly to the development potential of Pilar”.
Ferro-Alloy Resources Ltd (LSE:FAR) has launched a US$20 million bond funding that’s expected to comprise multiple tranches, starting with an initial US$3 million.
Bonds issued in the first tranche will mature in July 2026, and will carry a 9% coupon with interest paid twice yearly (in the months of January and July).
Mila Resources PLC (LSE:MILA) and its partners have granted Aussie-listed giant Liontown an option to explore for lithium on its Katleen Valley licence in Western Australia.
Liontown already has a lithium project nearing production on acreage adjacent to Kathleen Valley with offtake deals in place to supply LG, Ford and Tesla.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) said the resource estimate for its Rupice silver-zinc-lead-gold deposit in Bosnia and Herzegovina has increased by 93%.
Indicated and inferred mineral resources reflect the inclusion for the first time of the new Rupice Northwest (RNW) discovery and are now estimated at 105mln oz silver, 789,000 oz gold, 913,000 oz zinc, 581,000t lead, 88,000t copper and 39,000t tin.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said it has successfully commissioned both submersible pumps recently installed in New Cook's Kitchen shaft at the South Crofty mine.in Cornwall.
The associated Variable Speed Drives have also been installed with mine water now being pumped from below the 195-fathom level to the treatment plant (MWTP).
In a move to bolster its presence in the US and tap into the potential of its rare earth operations, American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has appointed Donald S Swartz II as its new CEO, effective August 1.
The appointment comes as American Rare Earths continues to strengthen its position in the global rare earths market.
Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has completed the third tranche payment of US$10 million as part of its acquisition strategy for Rift Valley Resources Developments Limited, taking the company a step closer to securing full ownership of the Kangankunde Rare Earths Project in Malawi
To date, the company has disbursed a total sum of US$20 million to Rift Valley to acquire what the company considers one of the most significant and strategically essential rare earth deposits on the global stage.
Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it has successfully achieved net zero carbon emissions with its first shipment of Triple Zero Green Lithium and Triple Zero Green By-Products.
The maiden shipment consisted of 15,000 tonnes of Triple Zero Green Lithium and 15,000 tonnes of Triple Zero Green By-Products produced from its Grota do Cirilo project in Brazil.
Silver X Mining Corp (TSX-V:AGX, OTC:WRPSF) said silver production at its wholly owned Nueva Recuperada project in Peru remained steady during the second quarter of 2023.
During the quarter, it reported total throughput of 35,392 tonnes, compared to 20,887 in the year-ago quarter.
Metal Energy Corp (TSX-V:MERG, OTCQB:MEEEF) has closed its previously announced acquisition of SourceRock, a prospective lithium brine project in the Thunder Bay-Nipigon area of northwestern Ontario.
SourceRock encompasses 91,288 hectares within the Proterozoic Sibley sedimentary basin. It comes with available infrastructure that has supported previous exploration programs and mine development, including year-round highway, railroad and seaport access, as well as power and natural gas lines, the company said.
First Phosphate Corp. (CSE:PHOS) said it has a viable case for developing its 100%-owned Lac à l'Orignal property in Quebec for phosphate concentrate production and the secondary recovery of magnetite and ilmenite concentrates with the release of a positive Preliminary Economic Assessment for the project.
The project would produce an annual average of 425,000 tonnes of beneficiated phosphate concentrate at over 40% P2O5 content, 280,000 tonnes of magnetite and 97,000 tonnes of ilmenite over a 14.2-year mine life, according to the PEA, which used indicated and inferred mineral resources in its calculations.
Gold Basin Resources Corporation (TSX-V:GXX) has reported encouraging preliminary results from the 2,224 metre (m) follow-up reverse-circulation drill program at its Gold Basin oxide gold project in Arizona.
The company reported multiple at- or near-surface oxide gold intercepts at the Red Cloud deposit over 60 m of thickness.
Fireweed Metals Corp (TSX-V:FWZ, OTCQB:FWEDF) described the first assay results from its 2023 exploration at the Macmillan Pass Project in Yukon as encouraging.
The company said the initial phases of the 2023 drill program targeted a gap in the drilling between two of Fireweed’s best-ever drillholes at Boundary Zone, NB22-002 and NB22-023. The 2023 step-outs completed so far have successfully intersected pyrite-sphalerite-galena as stratiform massive sulphides, laminated mineralization, replacement mineralization, veins, and breccias. Assays have been received for the first three holes and are reported in this news release along with visual summaries for an additional 17 holes that have tested targets at Tom and Boundary Zone.
Majuba Hill Copper Corp (CSE:JUBA) said it has designed a new exploration program to expand the tonnage at its flagship copper porphyry deposit in Nevada.
The company said the new programme follows the filing of an independent NI 43-101 technical report, titled 'Technical Report for the Majuba Hill Copper Project, Pershing County, Nevada, USA '. The report was authored by Jeffrey M. Bickel, senior geologist at RESPEC Company LLC, Reno, Nevada.
First out of the blocks with its results, Rio Tinto PLC (LSE:RIO) has set the tone for the rest of the major miners, with profits and dividends slashed, as well as a warning that it is not likely to achieve its decarbonisation target.
For its traditional investor base, there was disappointment as profits came in lower than expected in the first half of the year against a backdrop of China's slow economic recovery, with sales revenue down 10.4% and earnings and dividends shrinking 34%, with numbers almost half those from two years ago.
Rio Tinto PLC (LSE:RIO) shares fell 2.5% in early trading after the interim dividend was cut 34% as profits fell more than expected in the first half of the year against a backdrop of China's slow economic recovery.
With China's demand for metals not as strong as expected, sales revenue declined 10.4% to US$26.7bn in the six months to end-June 2023, with pre-tax profits shrinking 39.4% to US$7.7bn.
Bens Creek Group PLC, the North American metallurgical coal mine owner supplying the steel industry, has entered a non-exclusive marketing and sales services agreement with Avani Resources, its largest shareholder.
Avani will market coal produced by Bens Creek, which previously sold all its output through Integrity Coal Sales.
Technology Minerals PLC (LSE:TM1) told investors its 48.25% battery recycling business, Recyclus Group, has been given patent pending status from the European Patent Office for a lead paste desulphurisation process.
The process, developed at the Recyclus facility in Tipton, West Midlands, represents “a significant step forward”, Technology Minerals said in a statement.
Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF)' royalty income dropped in its latest half-year as its coal earnings returned to more normal levels after the Ukraine war-inspired bumper returns seen 12 months ago.
Income was US$14.7mln (US$29.6mln) for the second quarter of 2023 and US$44.3mln (US$92.8mln) for the half year as Kestrel, a coking coal operation in Australia, saw prices and volumes fall back from record levels.
Global Lithium Resources Ltd (ASX:GL1) is trading higher after a mineral resource update for the Manna Lithium Project 100 kilometres east of Kalgoorlie in Western Australia revealed a 24.1% increase in contained lithium oxide to 406,000 tonnes.
The updated mineral resource estimate (MRE) demonstrated a 10% increase in tonnage to the 100%-owned project to 36 million tonnes as well as a 13% increase in lithium oxide grade to 1.13% Li2O.
West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) has unveiled a new and improved definitive feasibility study (DFS) for its Qala Shallows gold asset — a key building block within the company’s flagship Witwatersrand Basin Project near Johannesburg, South Africa.
The update comes just under a year after the gold stock released its initial Qala Shallow DFS in August 2022, with core production and financial metrics improving across the board.
Having identified synergies and shared objectives, emerging vertically integrated critical minerals company Australian Strategic Materials Ltd (ASX:ASM) has signed an MoU with Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) and Vietnam Rare Earth Company Ltd to collaborate on integrated rare earths opportunities.
Blackstone is an ASX-listed nickel producer developing vertically integrated supply chains in Vietnam, while Vietnam Rare Earth Company (VTRE) is the only mid-stream rare earth element (REE) refiner in Vietnam.
Arizona Silver Exploration Inc issued an update on its Silverton carbonate-hosted gold exploration property in Nevada following a combined helicopter-borne magnetotelluric (MT) and magnetic survey flown over the entire property in March.
The survey was used to create a 3D data set to aid in mapping resistivity changes and structures down to the depth limit, the company said. The goal was to identify signature features that characterize Carlin-type gold deposits, which are hosted in sediment.
Anglesey Mining PLC (AIM:AYM) has raised £500,000 of additional capital through a share placing at 1.5p a share.
The company, in a statement, said the placing results from "latent demand" following its earlier equity raise in May.
Bradda Head Lithium rallied 8% as the company said recent drilling on its lithium clay assets in Arizona pointed to a significant resource upgrade when all of the data is totted up.
Holes drilled in the Basin East Extension showed the clays from which lithium is extracted thickened to the west, northwest and north and most likely extend into other Bradda claims in the area, it said.
Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) signed a term sheet last week to advance the construction of infrastructure at its Santander Pipe project in Peru, the company announced.
The company inked the deal with China Railway N° 10 Engineering Group CO. LTD., Sucursal del Perú (CREC10), an engineering and construction company that will provide US$12 million worth of services.
Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) said its recently completed surface time domain electromagnetic (TDEM) and borehole electromagnetic (BHEM) geophysical programs have identified new zones of conductivity at the Gochager Lake project in Saskatchewan, Canada.
The company said the TDEM survey covered approximately 1 square kilometre and defined a moderate-strength zone of conductivity directly over the top of the historic Gochager Lake deposit, extending both to the southwest and the northeast of the deposit area.
Britain’s proposed 2030 ban on the sale of new petrol and diesel cars is facing renewed doubt after prime minister Rishi Sunak seemed unconvinced about the policy on Monday.
After being asked whether the plan to ban would stand alongside UK net zero targets, Sunak specifically focussed on the latter in a television interview.
Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) said the remaining drill results from holes MTDD047 and MTDD048 and the results from the 2022 drilling campaign on the Mitu Trend at the Solwezi project in Zambia confirm high-grade intercepts.
The company said significant mineralisation was encountered, adding that the copper mineralisation intercepted at Mitu is associated with cobalt, nickel, and anomalous gold.
Ariana Resources’ new drilling at Kizilcukur in Turkey is designed to provide confidence in the vein resources, says house broker WH Ireland.
The programme comes ahead of the design of a series of conventional open pits with ore trucked to the existing Kiziltepe plant, which is currently slated for closure in 2025.
Ecora Resources' royalty over the Vizcachitas project in Chile gives it access at a relatively early stage to an asset it might potentially struggle to enter later down the line, says broker Peel Hunt
Vizcachitas is a large-scale, low-cost copper-moly porphyry development, with reserves estimated at 1.2Bt 0.4% copper equivalent, or 26 years of production at an average 153,000tpa, with upside potential.
Europa Metals Ltd (AIM:EUZ, JSE:EUZ) said the final tranche of its loan from the Spanish government's Centre for the Development of Industrial Technology (CDTI) has been drawn down.
A sum of €137,572.34 was received from CDTI. The funds are being used for the development of R&D technologies at the group's Toral lead, zinc and silver project in the region of Castilla y León in northwest Spain.
Base Resources Limited (AIM:BSE, ASX:BSE) has told investors it achieved production guidance for its 2023 financial year, whilst setting new expectations for the 2024 financial year.
The company said that production in 2023 amounted to 68,784 tonnes of rutile, within guidance of 62,000 to 73,000 tonnes, whilst ilmenite product totalled 297,861 tonnes (versus 260,00 to 310,000 guidance) and zircon came in at 25,954 tonnes (versus 22,000 to 27,000 guidance).
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) expects a significant resource expansion after clay thicknesses were better than expected in drilling at its Basin East Extension (BEE) prospect in Arizona.
Lithium-bearing clays continue and thicken to the west, northwest and north into the company's BEE lease, it said, with probable extensions into other adjoining Bradda Head claims at Basin North (BN) and Basin West (BW).
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said the development of the Havieron mine in Paterson, Western Australia has ticked off another significant de-risking event, with the main decline now passing the middle aquifer.
Overall, the decline at Havieron, a joint venture with operator Newcrest, had reached 2,510 metres as at 20 July 2023.
American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has identified a new significant rare earth element (REE) deposit in Wyoming, US (Beaver Creek REE project) containing grades between 1.7% and 9.1% of rare earths lanthanum, cerium, neodymium, praseodymium, and yttrium (La + Ce +Nd + Pr + Y).
Eclipse Metals Ltd (ASX:EPM) has identified rare earth element (REE) mineralisation in all 52 trenches sampled at the Grønnedal prospect within the Ivigtût multi-commodity project in Greenland.
Importantly, the trenching assays confirm the presence of the high-value magnet REE neodymium, with ratios up to 56% of the total rare earth oxides (TREO) present, with an average of 31% TREO.
Golden Rim Resources Ltd (ASX:GMR, OTC:GMRMF) has completed resource expansion diamond drilling at its flagship Kada Gold Project in Guinea, where 23 holes for 4,192.5 metres were drilled across the Massan and Bereko prospects.
The West African gold explorer has outlined a maiden inferred mineral resource of 25.5 million tonnes at 1.1 g/t gold for 930,000 ounces at Kada, 72% of which is shallow oxide-transitional gold mineralisation, and now aims to build on this.
Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is enthused about visible gold it has discovered at the high-grade RPM Deposit, within its flagship Estelle Gold Project.
The project can be found in the prolific Tintina Gold Belt in Alaska, renowned for its rich gold deposits.
West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) has welcomed exploration progress by joint venture (JV) partner Rio Tinto Exploration Pty Limited, with the successful completion of a down-hole electromagnetic (DHEM) survey at the SGC_1 target of the Mt Cecelia Gold Project in Western Australia.
The survey was conducted over three reverse circulation (RC) holes at the farm-in project, which previously intersected gold mineralisation and sulphides, confirming the presence of two conductive plates.
Castillo Copper Ltd (ASX:CCZ, LSE:CCZ) has delivered a revitalised copper resource estimate at the Cangai Copper Mine in northern New South Wales, bringing it one step closer to developing one of the highest-grading copper resources in Australia.
Partnered with a specialist geology team, the copper stock established a 4.6-million-tonne orebody, grading 2.45% copper for around 114,000 tonnes of the versatile base metal.
Depressed copper prices are taking a bite out of small- and mid-cap miners and explorers, according to reports, which in turn has made many such companies prime acquisition targets for bigger players in the sector.
Copper prices peaked in early 2022 but tumbled over the course of the year and still haven’t fully recovered. That has forced some firms to trim their exploration budgets and many others to seek cash infusions from potential buyers.
Planning permission has been granted for a new battery storage site near Manchester, poised to become the largest of its kind in the world.
Set to be built eight miles south of Manchester, Carlton Power’s proposed battery energy storage scheme would be the world’s first 1GW-plus project, able to store 1,040MW or 2,080MWh of energy.