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Proactive mining highlights: Amur Minerals, Savannah Resources, Chaarat Gold, Stratex…

A glance at this week’s top stories from London’s junior miners

There was also a triple batch of good news from miner Asiamet Resources Limited (LON:ARS) this week which helped its shares gain over 20%.

The company revealed that it has kicked off a new drill programme at the Beutong copper-gold project in Indonesia, in which it is in the process of doubling its stake to 80%.

Asiamet also announced positive results from the column leach test work being undertaken as part of the Bankable Feasibility study on the Beruang Kanan Main (BKM) copper deposit in Kalimantan, Indonesia.

On top of all that, City broker Liberum Capital called Asiamet ‘the best kept secret in copper’ in a note initiating coverage on the miner with a ‘buy’ rating and a target price of 20p.

Amur Minerals Corporation (LON:AMC) found support ion Friday after it said it has completed construction of the 350km long ice road from the Ulak station, on the Baikal-Amur rail line, to its Kun-Manie project a week earlier than last year.

The AIM-listed mineral exploration company, focused on base metal projects in the far east of Russia, said that the ice road was completed on February 15 and nine vehicle convoys are now transporting the supplies to Kun-Manie, nickel sulphide deposit in Russia.

Scotgold Resources Limited (LON:AIM:SGZ) shares jumped nearly 25% higher on Wednesday after it received planning approval for the first commercial gold mine in Scotland's history.

The AIM-listed group said the Loch Lomond and the Trossachs National Park Authority unanimously approved the company's application for the development of the Cononish Goldmine, subject to the conclusion of legal agreements.

European Metals Holdings Ltd (LON:EMH) told investors on Friday that it remains “entirely focused” on working with all stakeholders related to its assets in the Czech Republic.

The company issued a statement following public statements by the Minister of Industry and Trade, and correspondence sent to the company, which it said purports to terminate a Memorandum of Understanding with the ministry.

Devon-based tungsten and tin miner Wolf Minerals Limited (LON:WLFE) topped up its bridge loan facility with major shareholder Resource Capital and restructured its other senior debts.

Jubilee Metals Group PLC (LON:JLP) and its joint venture partner for the Kabwe project, BMR Group(LON:BMR) agreed to extend the fulfilment on all conditions under their agreement from the end of February to the end of March.

Savannah Resources Plc (LON:SAV) shares jumped higher on Monday after its chief executive David Archer said a 200% increase in the resource at Mina do Barroso marked it out as one of Europe's most promising lithium projects.

The group said Hatch has been appointed to conduct a scoping study of a mine development at the project in Portugal. Elsewhere, Savannah also revealed later in the week that it has received permitting approvals for its copper assets in Oman.

BlueRock Diamonds PLC (LON:BRD) said it expects to ramp up production at its Kareevlei diamond mine in South Africa this year as it operates from its upgraded plant.

The AIM-listed diamond mining company estimates it can achieve an average grade of between 3.5 carats per hundred tonnes (cpht) and 4.5 cpht.

Recent London-listee Shefa Yamim (A.T.M) Limited (LON:SEFA) has boosted processing capacity at its alluvial gemstone operation at Akko in northern Israel.

Arc Minerals Limited (LON:ARCM) said it has started a comprehensive soil sampling programme to test the potential for gold between Akyanga and Akyanga East in the DRC.

Bacanora Minerals Ltd (LON:BCN) said it was confident it will start construction at its Sonora lithium mine in Mexico on schedule even though a share placing and offtake deal with Chinese firm Nextview is in doubt.

Nextview is in default of a £31.2mln placing, which would have filled the final part of the US$180mln cost of the first phase of construction at Sonora.

Pan African Resources plc (LON:PAF) has started to increase production again at its Barberton mine complex in South Africa after reaching a new high-grade gold zone.

Barberton, which comprises the Fairview, Sheba and Consort mines, has seen a rise in head grades to 11.5g/t in February from 8.7g/t during July - December.

Galileo Resources PLC (LON:GLR) hailed drill results from three of its first four holes at the Star Zinc project in Zambia, which showed very high value zinc intersections, it said.

Notably too, there were also high values found of silver and germanium (Ge), a metal used in microscopes, cameras and as an alloying agent.

Strategic Minerals Plc (LON:SML) revealed it expects to tie-up the acquisition of the Leigh Creek copper mine in Australia by early next week.

W Resources PLC (LON:WRES) announced it has secured land access and all approvals for the first stage of the Régua tungsten mine development in Portugal.

Stratex International plc (LON:STI) struck a deal with IAMGOLD Corporation subsidiary AGEM Senegal Exploration for the Dalafin gold project in Senegal.

The deal gives AGEM the right to acquire a 51% stake in the project by spending US$4mln over a four-year period. Stratex ended 2017 with £2mln in the bank.

Goldplat plc (LON:GDP) turned in an operating profit of £1.578mln for the six-month period to December 2017, up significantly from the £1mln in the corresponding period a year earlier.

Connemara Mining PLC (LON:CON) is raising £900,000 through the issue of 21,686,747 shares at 4.15p, with Metal Tiger PLC (LON:MTR) to subscribe for £200,000.

Chaarat Gold Holdings Ltd (LON:CGH) said it continues to work to close a US$20mln funding launched in December.

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