Orosur Mining Inc (LON:OMI) carried out a review of its operations at the San Gregorio gold mine in Uruguay.
Since the end of last year, the firm’s operating subsidiary, Loryser, has been hindered by various operational challenges at San Gregorio which has left it in financial difficulty.
The company said the ideal solution would be to move on to the higher-grade Veta A project but this would require outside funding and an environmental permit, neither of which are currently available.
KEFI Minerals plc (LON:KEFI) said it was looking to raise a total of £5.5mln through a share placing and subscription which should now entirely fund its Tulu Kapi Gold Project in Ethiopia
The AIM-listed gold exploration and development company said it has conditionally raised £3mln through a placing of 120mln new ordinary shares at a price of 2.5p each to existing and new shareholders.
And Tethyan Resources (CVE:TETH) announced that it has signed an agreement to amend its current option to acquire the Suva Ruda exploration license in Serbia.
The amendment would have recently-acquired Taor d.o.o enter into a joint venture with Serbian company Deep Research d.o.o., which holds the Suva Ruda exploration licence.
Thor Mining PLC (LON:THR, ASX:THR) announced it has terminated plans to sell its stake at USA Lithium to Hawkstone Limited (ASX:HWK) and is considering disposal alternatives.
The company referred to a statement from Hawkstone which said a shareholder meeting on the acquisition was cancelled and the parties mutually agreed to terminate the acquisition agreement.
Meanwhile, Asiamet Resources Ltd (LON:ARS) told investors the latest results from drilling at the group’s 40%-owned Beutong project in Indonesia.
Drill hole BEU0900-08 encountered high-grade copper gold mineralisation near surface and the mineralisation, which also includes molybdenum, continues into the full drilled interval through to the end of the hole.
Kibo Mining PLC (LON:KIBO) reported its financial results for the full-year following a flurry of activity.
The AIM-listed miner reported a pre-tax loss from ordinary activities of around £4.5mln, wider than £3.5mln the year before, while its cash for the end of the period stood at £766,586, up from £382,339 last year.
Kazera Global PLC (LON:KZG) confirmed that it has commissioned the MSA Group (MSA), a leading provider of exploration, mineral resources and reserve estimation, to carry out the targeted exploration programme.
The AIM-listed firm said the exploration programme was designed to test and define total mineralisation across the area of Namibia Tantalite Investment Mine (NTI), which forms the strategic focus of African Tantalum Limited (Aftan).
Elsewhere, Strategic Minerals Plc (LON:SML) (USOTC:SMCDY) commenced the technical assessment of the Leigh Creek Copper Mine (LCCM) with the formation of a highly experienced study team.
The AIM-listed producing mineral company said the proposed work programme is expected to lead to the commencement of copper production around mid-2019.
Amur Minerals Corporation (LON:AMC) completed around 25% of its planned drilling for 2018 at its Kun-Manie nickel-copper sulphide project in Russia.
The AIM-listed mine said since the start of the drill programme on May 6, it completed 5,078.2 metres, with 1,085 mineralised samples prepared and analysed for nickel, copper, cobalt, platinum and palladium.
And Metal Tiger PLC (LON:MTR) said that it and joint venture partner MOD Resources have intersected copper mineralisation in the first drillhole at the A4 Dome target, the first of seven ‘buried domes’ that will be drilled within the T3 Dome Complex in Botswana.
A4 Dome is around five kilometres long and is located six kilometres west of the now well-established T3 Project.
Savannah Resources Plc (LON:SAV) confirmed the cost of building a lithium mine at Mina do Barroso in Portugal will be around US$109mln.
That would be recouped in under two years with production of 175,000 tonnes of spodumene concentrate, a source ore for lithium, according to a scoping study.