Tirupati Graphite has noted a recent report by Benchmark Mineral Intelligence (BMI) on global graphite producers which highlights the strength of its position in this market.
BMI notes that China currently dominates today's supply chain, but supply being developed globally is expected to shift this balance.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has denied reports it intends to go private, adding that being listed on the London Stock Exchange will continue to help build its business.
In a general update, Tirupati added it is still looking at ways to secure additional funding for the balance of £1 million of the working capital required to bring production up to the immediate target of 1,500 - 1,600 tons per month consistently.
Liberum has raised its target price for Emmerson plc by more than 50% following its latest update from the Khemisset potash project in Morocco.
Emmerson is developing the 100%-owned Khemisset, on which broker Liberum expects an updated feasibility study (FS) to be completed in late 2024 or early 2025.
Precious metals stocks were bid higher in early trade as the spot gold price continued to hover around its all-time high at $2,119 (up $5.50), driven by hopes of a US interest rate cut this summer after disappointing economic data.
The surge, reaching new peaks after weeks of steady gains, reflects investor optimism for the Federal Reserve's potential rate reduction in June.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said that it remains fully committed to delivering the potential of the Havieron gold deposit at Paterson in Western Australia having been the company that made the discovery.
In February, Greatland’s joint venture partner Newmont put its 70% stake up for sale along with the nearby Telfer mine, which is seen as a likely recipient of ore from Havieron.
Empire Metals Ltd (AIM:EEE) has released preliminary results from its mineralogical and metallurgical studies on the high-grade titanium discovery at the Pitfield project in Western Australia.
The results demonstrate a significant opportunity for onsite processing to deliver a high-value titanium dioxide (TiO2) product, the company said in a statement.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s comment that production and costs at the 64%-owned Blanket mine for 2024 to date have been consistent with guidance provides some reassurance in the profit warning, notes house broker Liberum.
Zimbabwe-focused Caledonia has already guided this year to production of 74-78,000oz (100% basis) at US$870-970/oz on-mine cost and US$1,370-1,470/oz AISC.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) warned that one-off costs will mean a reduction in profits this year even with a strong production performance from its Blanket gold mine in Zimbabwe.
Production for 2023 was 75,416 ounces of gold with revenues in line with expectations, but increased costs and several significant one-off charges in the final quarter of the year have resulted in lower profits, said the statement.
Bradda Head Lithium said equipment has been moved to its Basin Project, Arizona for a six-hole expansion drilling programme to boost the mineral resource at the deposit.
A sonic drilling campaign in 2023 increased BHL's Inferred and Indicated MRE at Basin three-fold.