Tharisa PLC (LON:THS) has announced plans to reward its shareholders by recommending a substantially increased dividend and an improved dividend policy, including the introduction of an interim payout.
The South Africa focused chrome miner said that based on improved earnings, its directors are recommending a final dividend for full year 2017 of 5 US cents per share, reflecting a material increase on the maiden distribution of 1 US cent declared a year earlier.
Furthermore, Tharisa added that its dividend policy for full year 2018 will be changed to provide for a payout of at least 15% of consolidated net profit after tax, an increase from the previous stated dividend policy of at least 10% of consolidated net profit after tax.
Danakali Ltd (ASX:DNK) intends to take its 50% owned Colluli Potash Project to the London Stock Exchange (LSE) by seeking a dual-listing.
Benefits of dual-listing on the LSE include liquidity, access to funds, the relative size of other companies, profile benefits, costs, and the company’s growth potential.
The project is located in the Danakil Depression region of Eritrea, and is circa 75 kilometres from the Red Sea coast, making it one of the most accessible potash deposits globally.
Premier African Minerals Limited (LON:PREM) said the value attributed to its Zulu lithium project in Zimbabwe was higher than expected in a scoping study.
Consultant Bara worked on two options at Zulu: just to produce a concentrate; or for Premier to build its own lithium production plant.
Bara estimated a value of US$127mln for a 15-year open cast operation mining a concentrate of spodumene and petalite, the source ores for lithium.
Oracle Power PLC (LON:ORCP) has signed a memorandum of understanding (MoU) with two China state-owned companies to advance its coal assets in Pakistan.
The UK energy developer said the MoU with Sichuan Provincial Investment Group Co. Limited (SCIG) and PowerChina International Group Limited records the intention to proceed to a formal agreement to collaborate in setting up, constructing, owning and operating the company’s flagship Thar project.
Bushveld Minerals Limited’s (LON:BMN) vanadium subsidiary has started testing a battery with South African electricity supplier Eskom, its first deployment in the country.
The vanadium redox flow battery (VRFB) will be deployed at Eskom’s Research, Testing and Development (RT&D) Centre in Rosherville, South Africa.
Asiamet Resources Limited (LON:ARS) plans to expand its drilling exploration programme at the BKZ polymetallic prospect in Indonesia after intersecting further high grade mineralisation.
The company will expand diamond core drilling by six holes, or about 600 metres, adding to the initial programme of 14 holes.
Chaarat Gold Holdings Limited (LON:CGH) has completed its 2017 exploration programme at Tulkubash with 60% more metres drilled than originally expected.
As a result, the indicative length of the proposed open pit has doubled to 2,200 metres as the current Tulkubash pit now connects with other previously drilled satellite pits.