Rockfire Resources PLC (LON: ROCK) announced this week that it has started a new round of drilling at the Plateau gold project in Queensland.
Pensana Metals Ltd’s (ASX:PM8) bulk testing material from Longonjo Rare Earth project in Angola arrived in Perth, Western Australia, for a pilot test work program. The company’s transition to a UK-based entity also passed its final milestone with the Supreme Court of Western Australia approving the scheme of arrangement.
The total value of Metal Tiger’s 19.35mln shares in Cobre at the IPO price of A$0.20 (10p) per share will be A$3.9mln (£2mln), giving the firm an unrealised paper profit of around A$1mln (£0.52mln). The company’s Botswana-based subsidary has also won government approval for a pair of acquisitions that will add a combined 10 exploration concessions in the country.
Base Resources Limited (LON:BSE), in a quarterly update, told investors that the Kwale mineral sands project has steadily increased production. Thanks to the improved performance Base Resources has upgraded its guidance for 2020.
The company has also confirmed the existence of further high-grade mineral sands mineralisation at the Toliara project in Madagascar, following a 29,753 metre programme of aircore drilling.
A major investment programme at the Moma mineral sands project in Mozambique is set to come to an end later this year. The owner, Kenmare Resources plc (LON:KMR) reckons that when the expansion programme is complete it will have invested a total of US$150mln to take production up to 1.2mln tonnes a year. The output increase amounts to around 35% of the previous production level, and looks set to boost margins and profits too.
Pembridge Resources PLC (LON:PERE) has stepped up exploration at the Minto copper mine in Yukon, Canada with a sizeable drilling campaign now underway following an aerial magnetic (MAG) survey over the site.
The firm is also planning to appoint an operator for Minto Explorations Ltd, the company which runs the Minto mine.
Mapping work, at the 90% owned project, has shown a continuation of mineralisation at the main Bakassi area adding 1.3 kilometres to the known strike which now exceeds 5 kilometres. Preparations are underway for a drill programme of 1,500 metres.
Oriole has also successfully applied for the extension of its licence over the Dalafin gold project in Senegal.
NQ Minerals PLC (LON:NQMI) (OTCMKTS:NQMLF) is looking to investors across the Atlantic and has retained the services of Ortoli Rosenstadt LLP, an internationally focused, New York-based law firm to pursue a potential ADR listing of the company's securities in the United States.
Asiamet Resources Ltd. (LON:ARS) said it intends to relocate its corporate head office function to Jakarta, Indonesia from Melbourne, Australia commencing immediately following on from a review of its operations.
BlueRock Diamonds PLC (LON:BRD) booked revenue of £4.1mln for the 2019 full year, up by 190%. During the second half of 2019, the company also turned a profit for the first time.
Premier African Minerals Limited (LON:PREM) has had its RHA Tungsten mine in Zimbabwe connected to the national grid with sufficient power to start processing tailings at the site.
Three of the directors of W Resources PLC (AIM:WRES) converted short-term loans provided to the company in November into shares. The conversion price was 0.307p per share, the volume weighted average for the week ended 10 January 2020.