Plenty to mull over from the diggers this week, and some big news from huge fertiliser project developer Sirius Minerals PLC (LON:SXX).
Just a day after outlining plans to bring in up to US$1.2bn of new funds, Sirius revealed on Thursday the process was ostensibly complete.
The conditional placing of shares with investors at 20p each will bring in US$457mln (£370mln), while a successful convertible bond issue adds an extra US$400mln to the total.
All we are waiting for now is the result of the open offer of shares to exiting investors - and the formal sign-off for the equity fundraise at a meeting later this month.
Last week, Sirius signed a royalty deal with an offshoot of Gina Rinehart’s Hancock Prospecting that will eventually bring in a further US$$300mln.
The cash will be used to finance the first stage of construction of a giant mine in North Yorkshire, which will extract an initial 10mln tonnes a year of polyhalite fertiliser.
Elsewhere, in financing this week, Berkeley Energia Ltd (LON:BKY) is to raise up to £24.1mln as it looks to accelerate the development of its Salamanca uranium project in Spain.
The miner will ask existing and other institutional investors to stump up between £16.1mln and £24.1mln through a placing of shares at 45p – a similar level to yesterday’s close.
The cash will be used to fund the construction of the crushing circuit at the centralised processing plant, as well as other infrastructure items, Berkeley said.
Strategic Minerals PLC (LON:SML) went a bit Poldark on us this week as it brought on board an experienced consultant to help it progress its Cornish tungsten mining ambitions.
In May, Strategic announced an option with New Age Exploration Limited (ASX: NAE) to take up to 50% of the Redmoor tin and tungsten project in the west of the UK.
As it stands it now holds 16.4% of Redmoor's capital.
Now it has struck a deal with mining expert and Cornish resident Jeffrey Harrison to be community advisor for the project.
Also this week, IronRidge Resources Limited (LON:IRR) has hit significant gold and copper grades at its May Queen prospect in Queensland, Australia.
The junior drilled eight shallow holes and recorded multiple gold and copper intersections.
Vincent Mascolo, chief executive, said the results confirmed historical data from the site and the potential for bulk tonnage porphyry mineralisation.
Elsewhere, Sierra Rutile Limited (LON:SRX) has refinanced its debt facilities through a package that includes repayment of a €23.5mln loan to the Sierra Leone government.
All of the minerals sands group’s debts will now be consolidated into a US$50mln loan and US$15.9mln equipment finance facility from Nedbank.
Additional liquidity will be provided through a US$15mln revolving facility.
John Sisay, Sierra Rutile's chief executive said: "I am delighted to announce the refinancing of our loan facilities into a long term debt structure that better supports our stated development plans. “
Notably, Vast Resources PLC (LON:VAST) kicked off drilling at the Faneata tailings dam near its Baita Plai polymetallic mine in Romania as it aims to produce a new JORC resource for the project in the first quarter of 2017.
Previous sampling suggests the tailings contain economic minerals, including 4,080 tonnes of copper; 6,640 tonnes of zinc; 3,100 tonnes of lead; 35 tonnes of silver and 309kg of gold.
Vast's chief Roy Pitchford said :"Faneata represents a low-cost route to monetising our interests at the Baita Plai site, offering the opportunity to process 40 years' worth of material from the high grade mine."
Over to the Philippines and a drop in grade as expected in the September quarter meant fewer gold ounces were produced from its Co-O gold mine in the Philippines, said Medusa Mining Ltd (ASX:MML).
The firm produced 21,157 ounces of the yellow metal at an average head grade of 5.26g/t against 25,429 ounces at 6.32g/t in the preceding June quarter.
The drop in grade was expected mostly because of 9% more mine development in the quarter compared to the previous three months.
That saw 4,960 metres of horizontal and vertical mining compared to 4,501 metres in the June quarter.