Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF)‘s trading update suggests 2024 fiscal year production at the upper end of guidance suggests Peel Hunt, with the Evander, Barberton and Elikhulu gold mine operations all performing well in the second half
Management has introduced 2025 production guidance at 215-225koz, a range that Peel Hunt said is above the broker’s 211,000 oz estimate, implying a faster ramp-up at tailings project MTR than expected.
Ariana Resources PLC (AIM:AAU) has reported a big jump in the value of its Dokwe project in Zimbabwe after reworking the numbers following the rise in the gold price.
Build costs are now expected to be recouped in just over thirty months with a post-tax NPV of US$160 million (10% discount) and an IRR of 41% at a gold price of US$2,000/oz.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) has narrowed its gold production guidance for 2024 with output now expected to be at the upper end of the forecast.
Production would have exceeded the target, added the South African gold miner, but due to costs, it has stopped processing low-grade surface ore at its Evander Mines complex which had chipped in 2,500oz in the first half.
Bolstering its copper landholding in Peru, Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has successfully applied for a 6,400-hectare package comprising seven licences of largely underexplored exploration areas across a coastal belt that lies directly between the company’s Ilo Norte and Ilo Este projects.
Adding the new areas brings Solis’ landholding in Peru to 43,500 hectares pegged and establishes the company as a significant landholder in a highly prospective and emerging belt with porphyry copper potential.
First Phosphate Corp. (CSE:PHOS) announced it has entered into a partially binding letter of intent with Rapid Building Systems Pty Ltd to establish a Rapidwall Manufacturing Plant in the Saguenay-Lac-St-Jean Region of Quebec.
Rapidwall, a prefabricated load-bearing walling panel, and Rapidseal, a fire-resistant spray plaster, are manufactured using a moulding process with water-resistant gypsum plaster.
US Gold Corp (NASDAQ:USAU) announced today a significant milestone in its CK gold project development, with the issuance of its surface gold mine permit by the Wyoming Department of Environmental Quality (WDEQ).
The mine operating permit, issued to subsidiary Gold King Corp, marks a pivotal step forward for US Gold Corp (NASDAQ:USAU), paving the way for the advancement of its flagship CK gold project.
Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) has kicked off drilling ahead of schedule at its Canary project in Saskatchewan.
The drilling campaign is targeting approximately 1,000-1,500 meters across three to four drill holes, with a focus on shallow, high-grade unconformity-related uranium mineralization.
Condor Resources Inc. (TSX-V:CN, OTC:CNRIF) said it has re-appointed renowned exploration geologist Dr Quinton Hennigh to its board of directors.
Hennigh previously served as a director of the company from June 2020 to August 2021 and the company said he has been a supportive advisor and shareholder since 2020.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has signed a vendor financing facility agreement with mining equipment giant Caterpillar covering underground machines for the new Gilar mine in Azerbaijan.
In December, AIMC, an Anglo Asian subsidiary, took delivery and paid US$4.6 million for three R1700 underground loaders and two 980UMA underground loaders.
Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has confirmed more high-grade gold and silver in rock chips at its Dynasty Project in southern Ecuador, substantially expanding the project’s footprint.
The company has been conducting extensive field-based exploration, including mapping and surface geochemical sampling at the project.
Cadoux Ltd (ASX:CCM, OTCQB:FYIRF) has strengthened its position in the burgeoning critical minerals industry by acquiring a 50% stake in emerging rare earth elements (REE) producer, Minhub Operations Pty Ltd (MOPL) under an agreed two-stage Share Purchase Agreement (SPA).
MOPL is a private company with an emerging rare earths beneficiation and production strategy via development of the Minhub mineral sands processing facility in Darwin.
The recent graphite test work of Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) at four independent laboratories in Australia, Canada and South Africa has produced high-grade graphite concentrates with more than 97% total graphite content (TGC) and exceptional flotation recoveries exceeding 90%.
This work is being conducted as part of the company’s graphite marketing and active anode qualification strategy, supervised by Dr Surinder Ghag.
North Bay Resources, Inc. (OTC:NBRI) announced that it has successfully completed the initial powerup and testing of the mill equipment at its Bishop Gold Mill, located in Inyo County, California.
Last month, North Bay Resources announced it had entered into a share purchase agreement to acquire a 55.5% stake in the Bishop Gold Mill, which the company plans to operate in the near to medium term.
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) said resource drilling at a new area at the Ewoyaa lithium project in Ghana, West Africa, had intercepted more high-grade and broad mineralisation.
Assay results received for 4,101m of drilling at the Dog-Leg target and sterilisation reverse circulation holes at the proposed plant site, showed grades up to 1.85% lithium (Li2O) with a mineral resource upgrade now targeted for mid-year.
Firebird Metals Ltd (ASX:FRB, OTC:FRBMF) welcomes a positive Battery-Grade Manganese Sulphate Feasibility Study for the proposed stage one of production in China that demonstrates the opportunity for the company to become a low-cost producer of high-purity manganese sulphate.
The study, which incorporated conservative cost estimates and the lowest selling sulphate price compared with peers, shows that there are significant cost, development and operational advantages to be gained by building a plant and establishing operations in China.
GBA Capital has highlighted Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) in a 'What’s making waves' company snapshot titled, 'Tier-1 gold in Alaska at A$6/oz'.
Nova is focused on large-scale gold and critical metal projects in North America, with its flagship Estelle Gold Project hosting around 10 million ounces of gold, all on State of Alaska mining claims.
After completing its merger with Technology Metals Australia Ltd (TMT) in February, Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) has delivered an updated mineral resource estimate (MRE) for the consolidated Australian Vanadium Project near Meekatharra in Western Australia.
This MRE, consolidating the two companies’ projects, lifts the high-grade measured and indicated (M&I) MRE by 39% and confirms the project as a Tier-1 high-grade vanadium deposit.
Arizona Gold & Silver Inc (TSX-V:AZS) has announced encouraging advancements in its reverse circulation (RC) drilling endeavors at the Philadelphia gold-silver property situated in Mohave County, Arizona.
Drilling is testing a 400-metre strike length of the Resaca patented claim, which has not been previously drilled at Philadelphia, according to a statement from Arizona Gold & Silver.
Through its collaboration with the US Department of Energy and Virginia Tech University, American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has presented positive results of a metallurgical leaching study on the extraction of rare earth elements (REEs) from its Halleck Creek Project in Wyoming.
The US Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) awarded a three-year (2022-2025) research contract to Phinix, LLC with American Rare Earth and Virginia Tech as team members. This metallurgical study was carried out by researchers at the Department of Mining and Minerals Engineering at Virginia Tech.
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) delivered significant exploration results from its Western Australian gold portfolio during the March quarter, notably at the Becher and Nunyerry North projects.
In a business review, Novo summarised its March quarter highlights. These included re-analysing drill intercepts by multi-pot PhotonAssay™ from the maiden Nunyerry North exploration program completed in the second half of 2023. This larger sample methodology has upgraded a number of the original significant intercepts.