Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has received a double upgrade from analysts at Liberum, who rate the business’s new chief executive highly enough to predict the gold producer will continue its recent good run.
Liberum believes a Trump re-election in the US will result in elevated global war and trade tensions, with associated inflation risk, and make the gold mining sector even more of a hot bed of M&A.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) said the first phase of a competitive tender for the remaining 50% of the output from its Ewoyaa project in Ghana saw several offers and has prompted the group to move to a second stage.
Neil Herbert, executive chairman, added: "As one of very few near-term spodumene producers with available offtake yet to be committed, the ongoing partnering process that we are running with Macquarie has highlighted the significant interest in Ewoyaa's feedstock, despite the backdrop of weakened lithium prices.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said drilling at the Xarxar prospect in Azerbaijan has confirmed a significant quantity of copper mineralisation that will be included in a forthcoming resource estimate for the deposit.
Surface drill holes intercepted significant high-grade and continuous grades of copper mineralisation, with intercepts of continuous copper for up to 380 metres, said the statement.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said drilling of the main decline at Havieron in Western Australia has been paused while de-watering on the lower confined aquifer (LCA) continues.
Depressurisation activities are progressing, with six depressurisation holes now drilled into the LCA and pumping water to evaporation facilities at the surface, Greatland added.
Gold miners should outperform the bullion price this year, according to analysts at Liberum spurred by an outbreak of mergers and acquisitions across the sector.
Liberum has upgraded both Endeavour Mining and Centamin to 'buy', from 'sell' and 'hold' respectively, though its favourite remains UK-listed house stock Caledonia.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said the objectives from its drilling campaign at the San Domingo (SD) district in Arizona have been met and surpassed, as it published results from the second phase and ahead of a state of 3D modelling.
The company has also streamlined its corporate costs, executive chair Ian Stalker said, leaving it "well placed financially and geologically to be able to move with speed", though for now he said "we will continue with our 'steady as she goes' approach with no superfluous costs and intend to move back on the resource growth plan at Basin, Arizona".
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) told investors it has received a US$5 million equity investment from Ghana's Minerals Income Investment Fund (MIIF).
MIIF subscribed for just over 19.25 million shares at US$0.2598 per share, for a 3% stake, in a boost to the development of the flagship Ewoyaa lithium project.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) chief executive Neil Herbert has welcomed notifications revealing that major shareholder Assore International has increased its holding in the company.
Assore’s holding increased to 28.4% from 25.06%, while Piedmont Lithium (ASX:PLL, OTC:PLLTL) now has a notifiable stake as it declared a 5.2% holding in Atlantic Lithium.
Sovereign Metals Limited (ASX:SVM, OTC:SVMLF, AIM:SVML) has appointed Africa-based specialist consultancy SocialEssence to lead social and community development programs at the Kasiya Project in Malawi – where the company hosts the world's largest natural rutile deposit.
Under the partnership, SocialEssence will help design, implement and manage several social and community initiatives that will feed into the DFS and permitting requirements.
Arizona-focused Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) said it continues to position itself for the next wave of demand for the battery metal and also for an uptick in pricing
“The last quarter saw steps forward at the San Domingo lithium-in-pegmatite asset, the Basin Sedimentary lithium clay project and a re-evaluation of its lithium in oil brines in Texas and Pennsylvania,” said chairman Ian Stalker.
Shares of Empire Metals Ltd (AIM:EEE) jumped 13% following promising results from its latest exploration at Pitfield in Western Australia.
The drilling programme, covering 40 holes, revealed titanium in every metre, with significant highlights including 168 metres (m) at a grade of 6.91% TiO2 from just 12m below the surface.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) outlined numerous advancements in safety performance, production and sustainability initiatives in an operational update for the half year ending 31 December 2023.
The company reported an improvement in overall group safety performance, aligning with its commitment to the 'Zero Harm' goal, with total recordable injury frequency rate (TIFR) declining to 6.13 per million man hours from 8.54 in 2022.
Endeavour Mining expects production in the current year (2024) to rise by around 18% due to an expansion of the Sabodala-Massawa mine and the new Lafique project coming on stream.
Production from ongoing mines totalled 1.07m oz of gold in 2023, said the Africa-focused miner, with the fourth-quarter output flat at 280,000oz.
Empire Metal said that all forty holes drilled in its latest exploration programme at Pitfield in Western Australia indicated titanium "in every metre".
Highlights from the programme included 168m at a grade of 6.91% TiO2 (titanium dioxide) from 12m, while from the surface two holes returned 180m at 6.14% TiO and 154m at 5.50%.