Scotgold Resources Limited (LON:SGZ) was a feature this week on news it has secured the final tranche of funding for the construction of the Cononish gold mine.
The AIM-listed gold miner said on Friday that a total of £9mln had been raised through a combination of equity and secured debt, with £4mln raised before expenses through an oversubscribed placing of over 14mln new shares and £5mln through a secured loan facility with Nathaniel le Roux, the company’s non-executive chairman.
Meanwhile, Namibia-based tantalum miner Kazera Global PLC (LON:KZG) is to undertake a drilling programme across its whole licence to gauge the potential in its entirety.
Kazera holds a 75% stake in African Tantalum (Aftan), which operates the Namibian Tantalite Investment Mine (NTI).
An analysis of historical drill results has indicated that beyond the defined Homestead and Lepidolite zones, the total licence area has valuable mineralisation.
Elsewhere in Africa, Tharisa PLC (LON:THS) has made a first move into Zimbabwe with the acquisition of 90% of Salene Chrome, located on the country’s Great Dyke platinum belt.
Salene has three special grants covering an area of approximately 95sq km on the eastern side of the Great Dyke, which entitles it to mine illuvial chrome at surface.
In other news, Arc Minerals Ltd (LON:ARCM) has moved to acquire an additional 35% of Zamsort Ltd, a company that controls the Kalaba copper-cobalt project in Zambia. Combined with a convertible loan note for 5% more, that takes Arc’s total holding to 54%, and it could go higher if further purchases took place.
“We now have two projects under our control,” said executive chairman Nick von Schirnding, “and a significant exposure to cobalt.”
Rare earths group Mkango Resources Ltd (LON:MKA) signed off its agreement with trading group Noble to develop the Songwe Hill licence in Malawi.
Talaxis, a subsidiary of Noble, will acquire up 75% of Lancaster Exploration, which holds the licence, and up to 49% of Maginito, a downstream rare earths business.
Elsewhere, a major drilling programme has commenced at the T3 Dome complex on the Kalahari copper belt in Botswana, Metal Tiger PLC (LON:MTR) has revealed.
The company has a 30% stake in the joint venture (JV) that is exploring the copper/silver project.
Metal Tiger said airborne electromagnetic (AEM) geophysics interpretation points to a series of large conductive domes, spread over a wide area. The complex has similar geometries and internal structures to the T-Rex Dome that underlies the T3 deposit.
On Monday, Strongbow Exploration Inc (CVE:SBW) said that it is planning to list on the AIM in June this year.
The mineral exploration company, which is based in Vancouver and is currently listed on the Toronto stock exchange, previously bought rights to the South Crofty underground tin mine in Cornwall in July 2016, an asset it describes as one of the highest grade undeveloped projects in the world.