logo-loader

Proactive weekly mining highlights: Pembridge Resources, Metal Tiger, Power Metal Resources

A look back at the week's stories from London's junior miners

Pembridge Resources PLC - Proactive weekly mining highlights: Pembridge Resources, Metal Tiger, Power Metal Resources

Pembridge Resources PLC (LON:PERE) chief executive and chairman Gati Al-Jebouri has increased his stake in the Canada-focused miner to 19.1% following the acquisition of around 318,600 shares.

The company also confirmed that it has to date loaned £1.73mln to associate Minto Explorations Ltd, and, it intends to fulfil its financing commitment to the company with a further £570,000 to be released within the next 60 days.

Metal Tiger PLC (LON:MTR) relayed exploration results from part-owned Cobre Limited’s Schwabe prospect at the Perrinvale copper project.

The firm also unveiled plans to invest A$3.33mln, or around £1.7mln into Australian-based and South Korean-focused gold explorer, Southern Gold Ltd (ASX:SAU), and plough a further US$1.5mln into Kalahari Metals, giving it just over 62% of the Botswana-focused copper explorer.

Power Metal Resources PLC (LON:POW) will carry out further exploration at its Kisinka copper project in the DRC after being ‘surprised’ by results of termite mound sampling. The firm’s investee company Katoro Gold PLC (LON:KAT) also delivered a positive update on the Blyvoor gold production joint venture in Tanzania.

Anglo Asian Mining PLC (LON:AAZ) has cleared all its bank loans and is now free of debt. The Azerbaijan-based gold miner took out a refinancing loan with Pasha Bank in 2018 and paid off the final instalment on 10 February.

Mkango Resources Ltd (LON:MKA, CVE:MKA) told investors that it has extended areas of uranium-tantalum-niobium mineralisation at the Thambani project, in southern Malawi.

Eurasia Mining PLC (LON:EUA) said that following social media speculation it suspended trading of its shares at 7.45am on Tuesday pending clarification of its relationship with CITIC.

Alien Metals Ltd (LON:UFO) commissioned its IP survey at the Donovan 2 copper-gold project in Mexico. The purpose of the survey is to generate high-priority drill targets, and the results are expected during the current quarter.

Thor Mining PLC (LON:THR)(ASX:THR) completed the sale of its stake in Hawkstone Mining Ltd (ASX:HWK) for A$103,000.

Panther Metals PLC (LON:PALM) was granted an exploration licence over the Annaburroo gold project in the Northern Territory of Australia.

Shanta Gold Ltd (LON:SHG) said it will purchase 100% of the shares of Acacia Exploration (Kenya) Ltd, the local Kenya subsidiary of Barrick Gold (NYSE:GOLD)(TSE:ABX).

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) directors Tony Swiericzuk and Ian Middlemas demonstrated their support for the company’s sulphate of potash strategy by participating in a A$23.5 million placement.

Sunrise Resources PLC (LON:SRES) raised £200,000 before expenses through a placing to be used towards the completion of mine permitting for the company's CS Pozzolan-Perlite Project in Nevada.

Ariana Resources PLC (LON:AAU) received results of due diligence drilling at the Salinbas gold project in Turkey carried out by its proposed partner at the site, Proccea Construction.

Europa Metals Ltd (LON:EUZ) said the independent geotechnical study of its Toral project in Spain has been completed.

Ormonde Mining PLC (LON:ORM) received shareholder approval to sell its 30% stake in Barruecopardo tungsten mine to its majority owner.

Kavango Resources PLC (LON:KAV) announced the results of the recent drilling programme on its Kalahari Suture Zone (KSZ) project in Botswana. Kavango said the programme had provided valuable geological information to management to assist in the understanding of the potential of the KSZ to host large copper-nickel (Cu-Ni) mineral deposits.

SolGold plc (LON:SOLG), the mine exploration specialist with heavyweight backing, said it identified what could be a "sleeping giant" within its portfolio of copper-gold assets in northern Ecuador. The cluster of preserved porphyry lithocap zones was discovered at the Rio Amarillo site, 35km from the company’s flagship Alpala copper, gold and silver discovery.

Finally, Amur Minerals Corporation (LON:AMC) appointed an experienced senior banker, Adam Habib as an advisor to its board on transactions and corporate development.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Pembridge Resources PLC named herein, including the promotion by the Company of Pembridge Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Morning Report: FTSE 100 opens in red ahead of US job numbers; Bail-out for...

Headlines from the Proactive UK newsroom. London’s leading shares are set to open on the back foot this morning ahead of the release later of US jobs figures for March.. But economists say the full scale of the rising jobless in the US economy will be revealed in next month’s...

2 hours, 14 minutes ago

3 min read