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Proactive weekly mining highlights: Savannah Resources, AfriTin Mining, Bushveld Minerals

There was a steady stream of news from London's small cap miners this week

Power Metal Resources - Proactive weekly mining highlights:

Power Metal Resources PLC (LON:POW) and Red Rock Resources PLC (LON:RRR) said an upsurge in interest in the Victoria Goldfields area has prompted their joint venture to speed up its plans in the region.

Savannah Resources PLC (LON:SAV) told investors it is making excellent progress towards a long-term offtake deal, for the spodumene concentrate that will be produced at the Mina do Barroso lithium project in Portugal.

“We’re back on track now,” says Anthony Viljoen, chief executive of AfriTin Mining Ltd (LON:ATM), as the company’s Uis Tin Mine in Namibia returned to full-scale production after some disruption as a result of coronavirus issues.

Amur Minerals Corporation PLC (LON:AMC) said it is on track to complete its Russian TEO feasibility study for the Kun-Manie project by the end of the year and has started planning a full bankable feasibility study (BFS).

Bushveld Minerals Limited (LON:BMN) moved higher on Tuesday as the miner retained its production guidance for 2020 despite disruption to its operations from the coronavirus pandemic.

Asiamet Resources Ltd (LON:ARS) is continuing to advance all the key technical, permitting and commercial workstreams required to de-risk its BKM copper project in Indonesia. That work forms a key component of the company’s preparation for the project financing stage.

Tim Livesey, chief executive of Oriole Resources PLC (LON:ORR), said he was “delighted” to see the advancement of exploration at the Pandora and Hesdaba prospects in Djibouti, where preliminary metallurgical test work showed sample gold recoveries of up to 94.56%.

Pure Gold Mining Inc (CVE:PGM) (LON:PUR) said construction progress at its Red Lake gold mine in the famous Ontario mining district meant the first gold pour is still on track for the fourth quarter this year.

Strategic Minerals PLC (LON:SML) told investors it continues to keep control of overheads and it is focussed on the restart of production at the Leigh Creek project copper mine in south Australia.

Sunrise Resources PLC (LON:SRES) said the only comments on the environmental assessment (EA) of its CS Perlite-Pozzolan Project in Nevada had been of a minor nature.

Amur Minerals Corporation PLC (LON:AMC) said it is expecting “some high value outputs” in 2020 after the mineral explorer reported narrowed losses in its 2019 financial year.

Oracle Power PLC (LON:ORCP) booked losses of just under £1.1mln for the past calendar year, which it called “a year of significant progress” as it looks to develop one of the largest power projects in Pakistan.  

Arkle Resources Plc (LON:ARK) highlighted a positive outlook for zinc ahead of its fully funded future drilling activity in Ireland.

The chief executive Anglo Asian PLC (LON:AAZ), Reza Vaziri, has written to shareholders of the company, in light of his inability to be present at the company’s general meeting in London, saying 2019 was "another year of consistent delivery for the company".

BlueRock Diamonds PLC (LON:BRD) boosted revenue in the year to December 2019 by 190% to £4.1 mln.

Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) has not been resting on its laurels during the COVID-19 restrictions with potential optimisation opportunities identified for the Colluli Potash Project in Eritrea and investigations are underway to improve outcomes.

Strategic Minerals PLC (LON:SML) has named the client it is suing for lost earnings and damages as CV Investments, a company whose owner has been charged in the US for running a ponzi scheme. The metals junior was recently awarded US$21.9mln in damages and costs against CV and its principal Brenda Smith.  

Ncondezi Energy PLC (LON:NCCL) booked US$769,000 in joint venture investment expenditure during the financial year to December 2019, and spent US$58,000 on power development.

Power Metal Resources PLC’s (LON:POW) investee company, Katoro Gold PLC (LON:KAT) said it has raised £1.1mln in an oversubscribed fundraising to accelerate the development of its portfolio.

Vast Resources PLC (LON:VAST) on Thursday confirmed that it has raised another £109,800 in a subscription on top of the £1.49mln placing completed earlier in the week. The cash raised will provide funds to settle Vast’s liability to Atlas Capital Markets should Atlas decide to exercise its conversion rights.

Strategic Minerals PLC (LON:SML) said it has repaid the outstanding A$1.8mln loan from former partner New Age Exploration (NAE) on its Redmoor tin and tungsten project in Cornwall.

Zanaga Iron Ore Company Ltd (LON:ZIOC) told investors it has entered a subscription agreement with Shard Merchant Capital, under which some 21mln shares will be issued in up to three tranches.

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