The last working week of June will be much quieter for UK macroeconomic data following the Bank of England decision, though the gross domestic product (GDP) update on Friday could be seized upon by political parties ahead of the general election the following week... read more
Announcements due:
NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has provided investors with an update on its global anode expansion strategy, including positive results of a technical and economic study for a proposed battery anode facility in the Kingdom of Saudi Arabia.
The company partnered with engineering service provider Stantec (TSX:STN) who has completed a conceptual design and an AACE Class 5 evaluation to develop battery anode facilities (BAFs) at selected sites in the Kingdom of Saudi Arabia.
Shares in Harworth Group (LSE:HWG), the 'land regenerator' that started life as part of UK Coal, jumped 10% after it sold a site in Leeds to Microsoft Corp (NASDAQ:MSFT) for £106 million for what it called a "hyperscale" datacentre.
Contracts have been exchanged for the sale of 48 acres of land at its Skelton Grange site, with the first cash payment expected later this year and the other in the first half of 2026.
Bradda Head Lithium Ltd (AIM:BHL, OTC:BHLIF, TSX-V:BHLI) reiterated its belief that recent drilling at its Basin project in Arizona would trigger the next milestone payment of US$3 million from partner Lithium Royalty.
In a statement with its annual results, Ian Stalker, chairman, said: “We were also highly encouraged by the promising results from our San Domingo drilling programme completed in December 2023, the second large-scale drilling programme completed at this project in a year.
Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has executed a legally binding agreement to restructure Uis Tin Mining (UTMC), the operational Namibian entity that holds the company's licences (ML133, ML134 and ML129) into a more efficient corporate structure.
As part of the restructuring, Andrada will increase its ownership interest in UTMC to 100% from 85% through the acquisition of the 15% interest currently held by the Small Miners of Uis (SMU).
Power Metal Resources PLC (AIM:POW, OTCQB:POWMD) said drilling in Target Area T1-14 at the Molopo Farms Complex project in Botswana had intersected its target of a steeply dipping geophysical superconductor.
A diamond core drill hole, DDH1-14C, was completed to a final depth of 832.6m aiming for a superconductor identified by ground moving loop electromagnetic (MLEM) and audio-frequency magnetotelluric (AMT) surveys.
Gold has settled in for its traditional summer lull but among the African miners there remain opportunities, suggests broker Liberum.
At the macro level, there are few material short-term catalysts, the broker suggests: a Fed interest rate cut seems unlikely; Chinese gold buying has slowed; it’s status quo in Ukraine; the Gaza conflict is easing somewhat; and many polls show Biden drawing roughly level with Trump.
Great Southern Copper PLC (LSE:GSCU) has raised £1.25 million to continue exploration at its Especularita project in Chile.
The funds were raised through a placing and subscription of 104.4 million shares for 1.2p per share, a 20% discount to the five-day weighted average.
Shares in Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) are "cheap", said broker Peel Hunt in a short note following an update on a project over which Ecora has a royalty agreement.
Peel picked up on the news from Capstone Copper, which on Tuesday announced the production of the first saleable concentrate from the Mantoverde operation, that would process ore from the Santo Domingo copper-iron-gold deposits "in due course".
De Beers, the world's largest diamond producer, suffered a drop in sales during its most recent cycle.
The South African company said it sold nearly £250 million of rough-cut diamonds, down from £302 million in its previous cycle and lower than the £360 million in the same period a year prior.
Tribe Technology PLC (AIM:TRYB) has raised £1.41 million of new cash to support the delivery of its new innovative drill rig, expected next month.
It raised the funds through a placing and share subscription, priced at 4.5p per share, and an issue of convertible loan notes.
Panthera Resources PLC (AIM:PAT) has noted that the Government of Rajasthan (GoR) has announced the preferred bidder with the 'Highest Final Price Offer' of 65.3% for a mining lease on the Bhukiya-Jagpura block.
This follows the issuance of a notice by the GoR on 6 March 2024 inviting bids in the auction of a mining lease of the Bhukiya-Jagpura block, substantively covering the Bhukia project.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) said drilling from the 2024 exploration programme at the Douta gold project in Senegal had intersected significant gold mineralisation east of the main Makosa deposit.
Makosa East runs parallel to the main trend, with the priority from the drilling to extend the oxide component of the existing resource of 1.78 million oz indicated and inferred.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has partnered with US-based international development organisation The Palladium Group to work on agricultural and community support in Malawi, where Sovereign’s Kasiya Rutile-Graphite Project is based.
Palladium implements several development projects, including the Feed the Future Malawi Growth Poles Project, which invests in local rural communities to advance sustainable, climate-smart and inclusive wealth creation.
Kodal Minerals PLC (AIM:KOD) shares jumped 7% on a bullish exploration update from its Bougouni lithium project in Mali.
Assays from its latest drilling from the Boumou prospect showed new wide intersections of lithium from shallow depths with the length of strike at the project increased by 470m to 970m.
Asiamet Resources had a rollercoaster morning after revealing new plans to develop the BKM copper project in Kalimantan, Indonesia.
A staged approach will be adopted, said the junior, which “is expected to considerably lower the upfront capital cost and significantly enhance project economics for BKM".
European Green Transition PLC (AIM:EGT) today reported on what it described as a “pivotal year” that saw a transformational acquisition and a listing on the London Stock Exchange.
Raising £6.5 million to support its projects, the company’s AIM market IPO was among the notable new additions to the market in recent months.
Blencowe Resources PLC (LSE:BRES) said the processing of 600 tonnes of raw material from its Orom-Cross graphite project in Uganda by Chinese partner Jilin New Technology Graphite is near completion.
“This commercial scale testing in China has been crucial to fast-track product qualification, bypassing the need for a costly pilot scale graphite processing facility at site,” Blencowe added.
Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) said further optimisation work for the BKM heap leach project in Central Kalimantan, Indonesia had confirmed staged construction as the best way forward.
Initial optimisation work indicated that moving the heap leach facility pad would reduce bulk earthworks and upfront capital costs.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has submitted expressions of interest (RFIs) to the Chilean government for five lithium projects as part of receiving a Special Lithium Operating Contract (CEOL) to produce the metal.
A response from the Chilean government on the RFIs process is expected around 9th July 2024, when it will give more detail on how projects move forward to the award of a CEOL, CleanTech Lithium (CTL) added.
Kodal Minerals PLC (AIM:KOD) said initial drilling assay results at the Boumou prospect at the Bougouni Lithium Project in Mali had confirmed high-grade and wide extensions to the original resource estimate.
Results included 52m at 1.51% lithium (Li2O) from a depth of 173m in one hole and 66m at 1.26% Li2O from 72m in another.
Gold prices are expected to surge in the next 12 to 18 months and reach $3,000 per ounce, analysts at the Bank of America predict.
The analysts, however, noted that current market flows do not necessarily support this price point, which hinges on increased non-commercial demand, which currently supports an average price of $2,200 per ounce in the year-to-date.
Cruise operator Carnival Corp (NYSE:CCL))has faced several obstacles in the first half of the year... read more
Announcements due:
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) said reconnaissance sampling at its projects in Colorado identified new anomalies and a first indication of high-grade copper.
That was at the Edna Mae prospect in the southern portion of the Wedding Bell mining claims, where rock chip sampling returned up to 5,424ppm (0.54 %) uranium, 1.6 % vanadium, 100g/t silver and 2.74 % copper.
Galileo Resources PLC (AIM:GLR) is to start a Phase III drill programme at its 51% owned Shinganda project in Zambia.
Drilling will aim to confirm near-surface copper-gold mineralisation occurs along the Shinganda Fault Splay over a strike length of potentially more than 4km.
Ariana Resources PLC (AIM:AAU) has hailed the results from field trials using detectORE, a new sample analytical system, at the Dokwe Project site in Zimbabwe.
Using the new technique Ariana said it received gold analytical results in up to 15 hours (dry sample).