Ora Banda Mining Ltd (ASX:OBM) has approved the development of the Sand King Underground Mine at its 100%-owned Davyhurst Gold Project in the Eastern Goldfields of Western Australia, as it works to rapidly accelerate production and decrease costs.
The Sand King mine — the second to be developed by the company at Davyhurst in less than two years — is slated to hit a steady state production level of around 60,000 ounces per annum in the June 2025 quarter.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) latest production underlines the sustainability of the Blanket gold mine in Zimbabwe following the uncharacteristic issues of 2023, says house broker Liberum.
First half output of 37,800oz (33,500oz) exceeded Caledonia’s expectations with the guidance of 74-78,000 oz for the full year maintained.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) management has unveiled its upstream flake graphite development strategy, which aims to satisfy 8% of global flake demand ‘by the turn of the decade’.
The company, in a statement, said it is actively engaging in funding discussions with potential strategic partners and financial institutions to streamline current operations in Madagascar and expand production capacity.
Ariana Resources PLC (AIM:AAU) said optimisation work on its newly acquired Dokwe project in Zimbabwe had increased resources in the two planned open pits (North and Central) by 16% or 176,000 ounces.
In-pit Measured and Indicated resources using the JORC 2012 standard are now 29.6 million tonnes (Mt) at 1.33g/t for 1.2 million ounces of gold with the overall deposit resource estimate unchanged.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has reported another strong production quarter from the Blanket mine in Zimbabwe, with output in the three months to June at 20,773 ounces of gold or 19% higher than a year ago.
For the first half of this year, Blanket has now produced 37,823 ounces of gold, a 13% increase on the first half of 2023 and puts the miner on track to hit its target of 74,000 to 78,000 ounces for the full year, said its statement.
NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) has appointed Jaco Crouse as its new Chief Financial Officer (CFO) as part of its strategic growth initiative.
Crouse succeeds Marc Johnson, who has served as CFO since October 2015.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) is officially back in the FTSE 100 set after being removed from the blue-chip index just four months ago.
The upgrade comes as packaging company Smurfit Kappa Group plc (LSE:SKG) leaves the FTSE 100 following a merger with US company WestRock.
Following increased US investor and strategic interest in Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) and its Kasiya Rutile-Graphite Project in Malawi, shares in the company have commenced trading on the OTCQX® Best Market to provide access to a broader eligible US investor base.
The OTCQX is the highest market tier of OTC Markets on which more than 12,000 US and global securities trade.
Ora Banda Mining Ltd (ASX:OBM) has appointed experienced geologist Kathryn Cutler as an independent non-executive director of the company with effect from today.
As a professional geologist, Cutler brings extensive mineral exploration and resource development experience to Ora Banda, skills that are expected to enhance the company’s gold strategy.
George Bennett, Rainbow Rare Earths' chief executive, explains to Proactive the royalty agreement with Ecora Resources and the accompanying fundraise.
George Bennett: We are very delighted with this transaction. We raised a total of $10 million, $8.5 million at a 0.85% royalty stream that Phalaborwa would pay Ecora, and then $1.5 million in equity based on the 20-day view out.