An uplift in base metals prices means Anglesey Mining plc (LON:AYM) this week is hopeful it can get its Parys Mountain project in North Wales into production by 2020.
“It is now opportune to move forward with the development of the Parys Mountain base metal project in North Wales and we are putting in place a number of key elements to facilitate this,” said chairman John Kearney.
A scoping study prepared during the current half year indicated a mine capable of producing 1,000 tonnes per day of copper, lead and zinc concentrate or approximately 22,000 tonnes per year.
That study used a copper price of $US2.50 per pound, zinc at $US1.25 per pound and lead of $US1.00 per pound to generate a net present value of $US43mln.
It was one of a number of stories this week from the small-cap diggers.
Also in the frame was Bushveld Minerals Ltd, which is to take control of the Vametco vanadium project in South Africa through the buy-out of partner Yellow Dragon.
Shareholders will need to approve a reverse takeover that will see Bushveld pay US$11.1mln in cash and shares for Yellow Dragon’s 55% of their BVL joint venture.
This will give it an indirect interest in the Vametco vanadium mine of 59.1%, compared to 26.6% currently, and enable it to consolidate the results into its financial numbers.
Fortune Mojapelo, Bushveld’s chief executive, said the acquisition completed the miner’s "transition" into a vanadium producer.
Sticking to Africa and Kibo Mining PLC (LON:KIBO) is set to acquire a power station development in Botswana to leverage the knowledge acquired from its Mbeya project in Tanzania.
The group will acquire an 85% stake in Mabesekwa from Sechaba, a subsidiary of Shumba Energy, for about £9mln to be paid in shares.
Louis Coetzee, Kibo’s chief executive, described it as a "fantastic opportunity" especially as it was in Botswana.
Meanwhile, Tertiary Minerals plc (LON:TYM) has given a major boost to its three fluorspar projects through a strategic tie-up with global commodities group Possehl.
Germany-based, Possehl is part of Cremer, a commodities business with annual turnover of more than €3bn.
The fledgling agreement between the two companies will see Possehl take at least 70% of commercial grade acid-spar produced at Storuman in Sweden; Lassedalen in Norway; and MB in Nevada.
The price of vanadium has soared on predictions that in the future the metal will be an electrolyte in batteries used for electricity storage at power stations.
Elsewhere, Harvest Minerals has welcomed news that the Upper House of the National Congress of Brazil has approved a bill to reduce the royalty rates of fertiliser projects from 3.0% to 0.2% which it sees significantly benefitting the group.
The AIM-listed fertiliser development company noted that the bill was approved by the Chamber of Deputies, the Brazilian parliament’s lower house on 22 November 2017 and is part of wider reforms to boost the mining sector and the economy in general.
There was bad news on Friday for Beowulf Mining plc (LON:BEM) and it saw shares slump as its most advanced project was dealt a bitter blow.
The county administrative board for Norrbotten (CAB) in Sweden has not recommended to the government an exploitation licence for the Kallak North project.
"Beowulf are reviewing the response in detail and will update the market as and when appropriate," the firm said in a brief regulatory statement after the market close on Thursday.
Meanwhile, gold explorer-cum-digital currency group Lionsgold Limited (LON:LION) has raised to £550,000 to help fund its various activities going forward.
The company has issued 68.75mln new shares at 0.8p – the same as this morning’s opening bid price – with a one-for-one warrant which can be exercised up to and including 31 December 2018 at 1.2p.
Lionsgold’s global strategy consultant snapped up 6mln of the shares for £48,000.
The AIM-quoted firm recently revealed the results of a feasibility study from the Jonnagiri gold project in India, in which it owns a 20.5% stake.
There were more drill results this week from Asiamet Resources Limited (LON:ARS, CVE:ARS), which told investors that its confidence in the BKM copper project in Indonesia had been boosted by the latest drilling results.
Metallurgy drill holes have intersected near-surface high-grade copper mineralisation at the NK44 and BK58 zones.
Sequential assay interpretation indicates that blends or mixes of copper mineral species vary laterally and vertically across the deposit; however, they form broad and substantial spatially consistent zones.
African Potash Ltd (LON:AFPO) has two pieces of news out this week.
On Tuesday, it agreed a joint venture with FinComEco to execute its new block chain-based agriculture distribution network in southern Africa.
FinComEco, a subsidiary of GMEX, will buy crops grown by farmers who have received microloans from African Potash.
And on Friday, it revealed it had expanded its fertiliser business by striking a new joint venture deal with SG Inc following a memorandum of understanding inked in August with the government of the Republic of Congo.
The two companies are set to develop and commercialise resources in the Republic of Congo to produce fertiliser, with each party owning 50% of the joint venture.