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Proactive weekly mining highlights: Vast Resources, IronRidge Resources, Anglo Pacific Group...

It was a quieter week for company news in the junior mining sector

mining

Vast Resources PLC (LON:VAST) jumped 20% after the Zimbabwe mining ministry said it will finalise its side of the Chiadzwa joint venture in the Marange diamond fields this month.

Vast has received official communication from the Ministry of Mines and Mining Development to the effect that all internal processes leading to the conclusion of the Joint Venture are expected to be finalised during the month of March 2020, it said in a statement.

IronRidge Resources Ltd (LON:IRR) has entered into an agreement with Major Star to acquire 100% of the Bodite and Bianouan gold licences in Côte d'Ivoire.

MetalNRG PLC (LON:MNRG) has completed the final stage required for a permit at its Gold Ridge Mine operation in Arizona.

Alien Metals Ltd (LON:UFO) has issued an update concerning its Elizabeth Hill silver project in Australia as well as exploration activity in Mexico.

The AIM-listed miner said the open pit resource at Elizabeth Hill was “untouched to date” and that there was further resource potential in underground workings and strike extensions at the site.

Oriole Resources PLC (LON:ORR) has raised £245,000 through a private placement.

The proceeds, together with the recently announced proceeds from the sale of shares in Tembo Gold Corp will be used to support ongoing exploration at the company's Bibemi project in Cameroon.

Anglo Pacific Group PLC (LON:APF) (TSX:APY) has continued its diversification, with an agreement which will see it help fund the construction of Incoa Performance Minerals LLC’s calcium carbonate mine and associated infrastructure in the Dominican Republic, as well as a processing facility located in Mobile, Alabama, in the USA.

Strategic Minerals PLC (LON:SML) (OTCMKTS:SMCDY) remains in good shape, according to its managing director John Peters.

He was commenting in an update on operations, in which the company highlighted its continuing access to cashflow from the Cobre stockpile, progress at the company’s Leigh Creek copper mine development, and continuing exploration at Redmoor which will largely be funded this year by holding company Cornwall Resources.

Bacanora Lithium PLC (LON:BCN) has turned in a pre-tax loss of £4.9mln for the six months to December 2019, down from the £11mln lost during the corresponding period in 2018.

The loss includes US$2.8mln of general and administrative costs, and share-based payment compensation of US$300,000. The overall loss was lower due to reduced corporate overheads.

NQ Minerals PLC (AQSE:NQMI) (OTCMKTS:NQMLF) has agreed a definitive term sheet with the Traxys Group and a leading European natural resources bank for a US$60mln debt facility.

Regency Mines PLC (LON:RGM) has submitted an application for grid connection for its first flexible grid solutions project in Southport.

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