Keras Resources (LON:KRS) – CORP: New tribute agreement
Market Cap: £7.8m; Current Price: 0.65p
Agreement for Wycheproof Gold Deposit
Keras Resources has reached an agreement to tribute mine the Wycheproof Gold Deposit, a small high-grade open pit deposit that is located on an existing mining lease.
Wycheproof has a resource of 75,600t at a grade of 2.87g/t Au containing 6,974oz Au.
Wycheproof is located 18km north of the Paddington Mill, Western Australia, where Norton Gold Fields has a first right of refusal to treat the ore from Wycheproof.
Mining will be undertaken during Q216 on a 50:50 profit share agreement with the owner of the right to mine. Keras will pay 5% of the predicted profit upfront to a 5% holder of the permit; Keras will also pay A$70,000 to the owner of the right to mine from the first gold production and a 2% royalty to Norton Gold Fields.
NORTHLAND CAPITAL PARTNERS VIEW: This latest tribute agreement at the Wycheproof Gold Deposit builds on Keras Resources’ Grants Patch Gold Tribute Project. While the Wycheproof Deposit is small and Keras will only receive 50% of the profits its proximity to Grants Patch and the Norton Mill will allow Keras to leverage its existing infrastructure and equipment.
Arian Silver Corporation (LON:AGQ) – CORP: Change of adviser
Market Cap: £1.5m; Current Price: 1.35p
Appoints Northland Capital Partners as Nomad
Arian Silver Corporation the Mexican focused exploration company has appointed Northland Capital Partners as its Nominated Advisor.
The Company owns several concessions in Zacatecas, Mexico and is focused on the acquisition of additional concessions and ongoing exploration activity.
Premier African Minerals (LON:PREM) – SPECULATIVE BUY*: Corp update
Market Cap: £8.4m; Current Price: 0.63p
From yesterday: Plant begins to treat underground ore, conversion of loan notes and issue of equity
The plant has commenced the treatment of ore from the underground mine at RHA.
Additional improvements are expected to the plant in due course and the Company remains on track to be profitable at the operational level in the spring.
Premier African Minerals has received notice from Darwin Capital to convert an additional 7 loan notes that have an aggregate value of £175,000 in to equity, as the APT price remains below the trigger price of $230/mtu.
The Par Value of the outstanding loan notes after conversion today is £525,000.
As a result of the conversion, Prem has issued 42,817,855 shares at a price of 0.408708p.
Following the issue the Company will have 1,542,789,318 shares outstanding.