Xtract Resources PLC (LON:XTR) is all set for first alluvial mining to commence at the Manica project in Mozambique by the end of this month. Following the signing of a contractor agreement with Omnia Mining Ltd on 19 June and with Sino Minerals Investment Limited 11 July, almost all of Omnia’s equipment is now on site and being installed.
Hastings Technology Metals Limited, which owns 70% of the Yangibana neodymium project in Western Australia has announced its first MOU agreement. Hastings is partnered at Yangibana by Cadence Minerals Plc (LON: KDNC) (OTC:REMMY), which has a free carry to bankable feasibility.
Hastings Technology and Baotou Sky Rock have agreed to enter discussions to formalise a commercial offtake agreement for Hastings to sell 2,500 tonnes of mixed rare earth carbonate annum to Baotou Sky Rock.
Wealth manager Tavistock Investments PLC (LON:TAVI) is at an “inflection point”, its chairman Oliver Cooke said, with the company now generating cash alongside operating profits. Turnover for the year ended March 31 was up 22% at £36.4mln giving EBITDA of £537,000, up 421%. Cash generation was £497,000 in the second half.
Real Good Food (LON:RGD) has warned profits will miss forecasts made only four weeks ago when it raised £15mln to fund an expansion drive. The cake decoration and bakery products group said results for the year to March 2017 had been affected by two substantial sugar purchase claims discovered by the auditors.
Premier African Minerals Limited (LON:PREM) has received an independent report confirming the prospectivity and size potential of the Zulu Lithium and Tantalum Project in Zimbabwe. Hains Engineering, an independent geological consulting group with significant experience in industrial minerals and lithium, conducted the review.
TechFinancials Inc (LON:TECH) is to receive a dividend of US$1.02mln from its subsidiary DragonFinancials. The trading software developer owns 51% of the Asia Pacific-based DragonFinancials, which declared a total interim dividend of US$2mln.
BT Sport is joining BBC Three in jumping on the eSports bandwagon by broadcasting the Elite Series being run by Gfinity Plc (LON:GFIN). BP in April 2017.
The new board of blur Group PLC (LON:BLUR) is performing a strategic review and will use recently raised funds to implement a new growth plan. The company released full-year results the day after trading resumed in the shares, showing losses narrowed dramatically in 2016.
Sound Energy PLC (LON:SOU) has revealed progress towards the commercialisation of its gas discoveries in eastern Morocco, where proposed pipeline route has been cleared by the local authority. In a statement, the company told investors that the Wilaya of the L'Oriental Region has approved the proposed pipeline route that will be needed to transport gas from Sound’s projects in the region into the existing Gazoduc Maghreb Europe (GME) pipeline
Rose Petroleum PLC (LON:ROSE) has given Magellan Gold Corporation just over two weeks to complete the proposed acquisition of its San Dieguito de Arriba gold mill operation in Mexico. The non-core asset sale was announced in March, with Magellan paying a US$100,000 deposit, but the buyer was supposed to have deposited a further US$900,000 of cash into escrow and previously, in June, Rose granted a 60-day extension to the option period.
Empyrean Energy PLC (LON:EME) told investors that drilling is expected to start in California later today. The programme, for the Dempsey 1-15 well in the Sacramento basin, is expected to have between 30 to 40 days of drilling.
Galantas Gold Corporation (LON:GAL) has hit grades of up to 11 grams per tonne gold in a stringer vein at its Omagh gold mine in Northern Ireland during tunnelling work. Development at Omagh continues, as the company works its way down towards the main Kearney veins.
Amur Minerals Corporation (LON:AMC) has hit a record exploration intercept in terms of thickness and continuity at its Kun-Manie nickel sulphide deposit in the Far East of Russia. The company is midway through a resource expansion programme there.
Thor Mining PLC (LON:THR) chairman Mick Billing spoke of a “a busy and productive period for the company” as he updated on quarterly activities. Of particular interest was the Pilot Mountain tungsten project. “The continued positive results at Pilot Mountain demonstrate the significant and increasing value of this project and we are very keen to commence the next drilling program in the next 2 to 3 weeks,” said Billing.