The price of gold touched $2,600 per ounce for the first time ever last night after the US Federal Reserve cut rates by half a percentage point.
Gold momentarily hit an all-time high as Fed chief Jerome Powell began to speak at a press conference after the policy decision was published.
Rome Resources Plc (AIM:RMR, AIM:RMR) has reported significant tin mineralisation in two key drill holes at its Kalayi prospect in North Kivu, Democratic Republic of Congo.
The company today announced results from a portable XRF analyser on core samples from Kalayi, where drill holes KBDD005 and KBDD006 are seen to have significant tin mineralisation.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has completed due diligence on the use of industrial forward osmosis (iFO) technology as part of the downstream conversion process in its DLE pilot plant.
The exploration and development company, which focuses on sustainable lithium projects in Chile, is trialling iFO as an alternative to conventional thermal evaporators for eluate concentration.
SMT Holdings, a United Arab Emirates rare earths investor, is planning to list in London via a merger with special purpose acquisition company Becket Invest PLC (LSE:TAB).
Becket Invest, a SPAC that listed last summer with the aim of finding tech private targets, suspended its shares on Wednesday after agreeing to the deal.
The Atlantic Lithium Ltd (AIM:ALL, OTCQX:ALLIF, ASX:A11) annual report and accounts highlighted the progress made towards its transition from explorer to mine developer.
During the year to 30 June 2024, the African-focused company achieved several milestones, including the grant of the mining lease for the Ewoyaa lithium project in Ghana.
Empire Metals Ltd (AIM:EEE) managing director Shaun Bunn, in today’s interim results statement, highlighted "huge leaps forward" that are being made by its team in understanding the geology and mineralogy at the Pitfields titanium project, in Western Australia.
“Our project has created a buzz throughout the mining and metals world, and our technical team and board are united in their ambition to keep this momentum up and make Pitfield a highly profitable commercial operation in as short timeframe as practicable,” Bunn said.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) told investors that early works at the Tulu Kapi site in Ethiopia are progressing well, as the project funding syndicate advances towards an investment approval.
The company, in a statement, said that security inspections have been satisfactorily completed and no further inspections are required by project funding members prior to investment approval.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) told investors that its ‘pilot’ at the Phalaborwa project in South Africa has confirmed its innovative process for recovering rare earth elements (REE) from phosphogypsum.
The company, in a statement, said the breakthrough paves the way for the first commercial recovery of REEs using this method.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has installed and commissioned an industrial-scale spiral concentrator plant at its expanded laboratory and testing facility in Lilongwe, Malawi.
This is expected to accelerate graphite offtake discussions with lithium-ion battery manufacturers and traditional graphite markets.
The rally on gold prices shows no sign of letting up, with the precious element touching all-time highs of U$2,580 (£1,951) on Tuesday.
It comes amid expectations of an interest rate cut from the US Federal Reserve on Wednesday, with the most dovish of forecasts anticipating a jumbo 50-basis-point cut to the bank rate.
URA Holdings PLC (LSE:URAH) announced a delay in the first trial emerald sale due to export delays in Thailand.
The sale of emeralds from the Gravelotte mine was originally set to take place this month.
Europa Metals Ltd (AIM:EUZ, JSE:EUZ) has agreed a deal to sell its 100% interest in the Toral project, in northern Spain, to Denarius Metals Corp.
A share-based transaction is valued at C$3.5 million in equity – with Europa being paid 7 million of Denarius’ Cboe and OTC listed shares priced at C$0.50 each (all subject to a four-month hold agreement).
Europa Metals Ltd (AIM:EUZ, JSE:EUZ) is to acquire the Tynagh brownfield project in County Galway, Ireland.
Through a reverse takeover, the company is acquiring what’s described as an advanced recycling and rehabilitation project.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) told investors on Monday that it has struck two deal for exploratory projects in Cote d'Ivoire.
One is the Guitry project, of which it has agreed to buy 100% from Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) for US$100,000 cash and a 2% net smelter royalty.
Celsius Resources Ltd (ASX:CLA, AIM:CLA) has secured a source of funding for its Philippine assets with the inking of a binding financing agreement with Patras Capital Pte. Ltd, a Hong Kong investment firm with particular interest in supporting mining, energy and technology companies.
The finance deal covers both a share placement agreement for 120 million shares to raise $1.5 million, and a committed equity facility of $10 million through placement tranches of shares in the company over the next 24 months.