Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has appointed Musst Investments and ViTa-Connect as financial advisers to aid its financing discussions.
Musst and ViTa-Connect's principals and associates have significant experience in raising institutional capital both equity and debt, structuring financial transactions for natural resources, and come from advisory, banking and private equity backgrounds, Tirupati added in a statement.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has had a 'buy' rating reiterated by broker Stifel after the first gold pour at its new Lafigué mine in Côte d'Ivoire.
The project is the company's fifth successful build in West Africa over the last decade, reaching production on budget and ahead of schedule, just 21 months after the construction launch, noted the broker.
Greatland Gold PLC's (AIM:GGP, OTC:GRLGF) appointment of Dean Horton as CFO is timely as the miner nears a pivotal stage in its Havieron gold-copper development in the Pilbara region of Australia.
A definitive feasibility study on the project, due in 2024, and a full project funding solution to come are the next key steps.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) told investors that state-run AzerGold is its new production-sharing partner in Azerbaijan, which the company expects to be of "considerable benefit" for the running of operations in the country.
The newly amended production-sharing agreement (PSA) sees the Ministry of Ecology and Natural Resources (MENR) replaced as the local party,
Rio Tinto will invest an additional A$18.5 million in Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML), increasing its shareholding to 19.76%.
In a show of confidence. the major miner has exercised all of its 34,549,598 share options to acquire shares in Sovereign at A$0.535 per share for proceeds of A$18,484,035.
American bank Stifel has provided positive feedback on the move by Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) (Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF), Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF)) to sign an US$8.5 million royalty agreement for the Phalaborwa project in South Africa while also raising US$1.5 million through an equity subscription, both with Ecora Resources.
The royalty will see Ecora entitled to 0.85% of gross revenues, rising to 0.95% if production does not start before October 2027 and 1.1% if production is delayed until after 1 July 2028.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has poured its first gold from the Lafigué mine in the Ivory Coast just 21 months after starting construction.
Ian Cockerill, chief executive, commented that it was a proud moment for the miner.
Ora Banda Mining Ltd (ASX:OBM) has expanded its Western Australian gold assets over the last year, securing large increases in its resource estimates and a maiden ore reserve for the Sand King Underground.
The gold mining company achieved a 176% increase to the Sand King Underground resource estimate, bringing it to 3.4 million tonnes at 2.8 g/t gold for 306,000 ounces while also generating a maiden ore reserve of 537,000 tonnes at 3.2 g/t gold for 55,000 ounces.
Zanaga Iron Ore Co Ltd (AIM:ZIOC) issued a series of announcements on Monday alongside its prelims - chief among them a new financing structure with Shard Merchant Capital (SMC), which provides access to funding through a relatively low-cost structure that minimises dilution.
In a separate announcement, investors were told SMC has sold 14.38m shares in ZIOC at 5.25p. At the same time, Glencore, the mining giant and ZIOC shareholder, has subscribed to $300,000 of new shares, while chairman, Clifford Elphick, bought $20,000 worth of stock.
Bradda Head Lithium Ltd (AIM:BHL, OTC:BHLIF, TSX-V:BHLI) hailed a "remarkable increase" in lithium carbonate equivalent (LCE) shown in the new mineral resource estimate for its 100% owned Basin Project in Arizona.
Following the completion of drilling and geochemical analysis, the new MRE surpasses the 2.5 million tonne threshold stipulated in the royalty agreement with the Lithium Royalty Company (LRC), triggering a US$3 payment.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) has appointed of Dean Horton as chief financial officer.
Horton brings over 25 years of experience, including project debt financing, strategy and corporate development, and corporate finance.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has signed a US$8.5 million royalty agreement for the Phalaborwa project in South Africa while also raising US$1.5 million through an equity subscription, both with Ecora Resources.
The royalty will see Ecora entitled to 0.85% of gross revenues, rising to 0.95% if production does not start before October 2027 and 1.1% if production is delayed until after 1 July 2028.