Proactive Weekly Mining Highlights: MetalNRG, Pembridge Resources, IronRidge Resources...

A look back at some of the top news from London's small-cap miners

MetalNRG -

MetalNRG PLC (LON:MNRG) said Friday it had kicked off a pillar gold sampling programme at its Gold Ridge project in Arizona after unearthing 115 ounces of gold from a sample taken from a boulder on the side of the project’s waste dump.

Pembridge Resources PLC (LON:PERE) announced this week that it had received the first revenues since copper, gold, and silver mining began again at the Minto open pit in October. On Friday the firm also revealed it is to get more cash upfront through an amendment to a legacy streaming agreement with Canadian giant Wheaton over the recently re-opened Minto mine.

In a statement, Pembridge said it might get as much as US$8.5mln extra for the first 14 months of production if the gold price stays above US$1,500.

IronRidge Resources Limited (LON:IRR) raised £2mln on Thursday via a share placing and subscription to fund the development of its gold and lithium projects in Côte d'Ivoire, Ghana and Chad.

Greatland Gold PLC (LON:GGP) said this week that it had identified multiple targets at its Paterson Range East licence in Western Australia following geophysical surveys at the site. 

Bushveld Minerals Limited (LON:BMN) revealed that it achieved record output from its vanadium arm Vametco in September after a series of upgrades to the plant.

Bluebird Merchant Ventures Ltd (LON:BMV) said it formally received a 'Permit to Develop' the Gubong gold mine in South Korea, enabling it to start work immediately on re-opening the historic mine.

W Resources PLC (LON:WRES) said it was advancing with commissioning and ramp-up activities at its La Parrilla mine in Spain. The tungsten, tin and gold miner said all components at its concentrator plant at the site had now been commissioned and over five tonnes of tungsten concentrate had been produced and is due to be purified with tin separated next week.

Jubilee Metals Group PLC (LON:JLP) announced it will extend its rights over the chrome contained in the historic tailings at the Inyoni project in South Africa, in a deal valued at approximately US$16.4mln.

Amur Minerals Corporation (LON:AMC), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, raised £1.2mln before expenses through the subscription of just under 70.6mln shares at a price of 1.7p per share.

Base Resources Limited (LON:BSE) said it had been told to suspend on-the-ground activity at the Toliara mineral sands project in Madagascar while fiscal terms are agreed.

Anglo Asian Mining PLC (LON:AAZ) said it had uncovered new mineralisation in the north-east of the licence area that is host to its Gedabek open-pit mine in western Azerbaijan.

Thor Mining PLC (LON:THR) was on the ascent this week as it reported visible gold samples had been discovered at its Pilbara Goldfield tenements in Western Australia.

ECR Minerals PLC (LON:ECR) found nuggety gold mineralisation in its analysis of samples collected earlier this year at the Creswick gold project in Victoria, Australia.

Arc Minerals Ltd (LON:ARCM), the Zambian-focussed copper exploration and development company, received additional near-surface, high grade copper assays from its maiden diamond drill exploration programme at the Cheyeza East target in Zambia.

Shefa Gems Ltd (LON:SEFA) entered into a convertible loan agreement valued at US$200,000 with a shareholder of the company.

Gem Diamonds Ltd (LON:GEMD) renewed its mining lease at the famous Letšeng mine, following discussions with the Lesotho Mining Board.

Labro Investments Ltd, a company in which the chairman of Chaarat Gold Holdings Ltd (LON:CGH) Martin Andersson holds a majority interest, exercised all 21.4mln of its warrants to subscribe for Chaarat shares.

Mining royalty specialist Anglo Pacific Group PLC (LON:APF) said it remained on track for another record year even though prices of coal and vanadium, two key commodities, have weakened recently.

Sunrise Resources PLC (LON:SRES) raised £350,000 for its CS pozzolan-perlite project in Nevada, USA through a conditional placing.

Alien Metals Ltd (LON:UFO) extended the option it holds with Windfield Metals over two iron ore projects in the Pilbara region of western Australia.

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