Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it made progress in 2023 despite the disruption caused by the suspension of the mine at Gedabek in Azerbaijan in 2023.
"2023 was an important year for Anglo Asian in pursuit of our medium-term growth strategy", said Reza Vaziri, chief executive. “We made considerable progress across our assets under development and confirmed significant resources at our Gilar, Xarxar and Garadag mineral deposits.”
Caledonia Mining unveiled substantial increases in reserves and resources (R&R) at the 64%-owned Blanket gold mine, notes house broker Liberum.
Overall, Blanket’s Measured, Indicated & Inferred (MI&I) ounces increased by 47% to 2.85 million oz and grade by 20% to 3.74g/t, of which the proportion of higher-confidence M&I ounces improved to 63% (from 56%).
Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11), which is building Ghana's first lithium mine, has appointed Edward Nana Yaw Koranteng as an independent director, effective immediately.
A seasoned lawyer and corporate banker with over 23 years of experience, he has been the CEO of the Minerals Income Investment Fund (MIIF) since 2021, where he manages Ghana's mining interests and royalty incomes, promoting sustainable sector growth.
European Green Transition PLC (AIM:EGT) said ground exploration at the Djupedal prospect at Olserum in south Sweden had confirmed the potential to host a significant-sized rare earth (TREO) project.
Channel samples taken over a 100-metre zone confirmed REE mineralisation and included three metres grading 1.58% TREO and one metre grading 2.27% TREO of which 30% were in the desirable heavy category.
Empire Metals Ltd (AIM:EEE) said the final 22 reverse circulation holes from the latest programme at the Pitfield Project in Western Australia had also indicated high grades of TiO2 (titanium) mineralisation near the surface.
Consistently higher TiO2 grades were identified in the uppermost 40m of mineralised bedded sandstone, corresponding closely to the near-surface zone of weathering at the key target areas Cosgrove and Thomas.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has announced a raft of upgrades to the reserves and resources at its 64%-owned Blanket mine in Zimbabwe, extending the life to 2034 and beyond.
Blanket's 1300 S-K mineral reserve and mineral resource ounces rise by 111% and 36% respectively, with a 7% and 23% increase in mineral reserve and mineral resource grade.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) is encouraged by downstream test work demonstrating that spherical purified graphite (SPG) with world-leading specifications for use in lithium-ion batteries can be produced from the Kasiya Project in Malawi.
Tests at leading, independent consultancy ProGraphite GmbH in Germany delivered exceptionally low levels of residual impurities achieving a 99.99% loss-on-ignition (LOI).
Caledonia Mining Corporattion plc’s profit recovery in 2024 comes ahead of two major catalysts due shortly, says broker Liberum.
" 64%-owned Blanket gold mine’s good start has continued into the current period (further evidence of a sustainable turnaround): in April, 8.0koz (100% basis) was produced, resulting in operations generating US$7.1 million that month (before working capital and tax)."
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has told investors that deposing the company’s current board would remove “critical sector and business knowledge, intellectual property and relationships”.
Moreover, Tirupati’s management – in a statement responding to a requisition to replace the board – said that the proposed new team has “neither the sector skills nor experience to navigate the complex and specialist graphite sector”.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s underlying profits more than trebled in its latest quarter due to higher gold prices and lower production costs at the Blanket gold mine in Zimbabwe.
Gross profit rose to US$13.8 million (Q1 2023: $5.8 million) as gold revenue rose to US$38.5 million while sustained costs (AISC) dropped to US$1,296 an ounce from US$1,412.