leadf
logo-loader

Proactive weekly mining round-up: Centamin, Anglo American, Hochschild...

A snapshot of the mining news that came out over the past week

Centamin PLC -

Centamin PLC (LON:CEY) confirmed its reduced guidance is for 445,000-455,000 ounces of gold for this year, with a significant fall next year to 400,000-430,000 ounces.  A review of the Sukari mine will be presented on December 2.

Anglo American PLC (LON:AAL) reported a 24% increase in mineral production in the third quarter compared to the second and is currently operating at roughly 95% of its normal mining capacity as some coronavirus (COVID-19) measures still remain in place. Copper production was 4% higher than last year.

Hochschild Mining PLC (LON:HOC) is on track to deliver the full-year production target of 280-290,000 gold equivalent ounces. In the nine months to September 30, the miner produced 39,195 ounces of gold and 2.5mln ounces of silver.

Shanta Gold Limited (LON:SHG) raised gross proceeds of £32.2mln through a fundraising at  16.5p.  The fundraising was significantly oversubscribed and was supported by both existing shareholders and new investors said the gold miner.

Chaarat Gold Holdings Ltd (LON:CGH) completed a refinancing and extended its US$19.4mln investor loan plus US$1.1mln of accrued interest. It has also issued 7.5mln of new shares and US$1mln of convertible loan notes to its largest shareholder, Labro Investments.

Premier African Minerals Ltd (LON:PREM) revealed it is debt-free. A day after raising £1.1mln through a placing, the company issued £600,000 worth of new shares to repay accrued but unpaid contractual amounts and outstanding loans.

Alien Metals Ltd (LON:UFO) agreed on terms of a farm-out deal with Capstone Mining Corp (TSX:CS) for its Donovan 2 copper-gold project in Mexico. Capstone will spending circa US$10mln to earn up to an 80% interest in the project,

Thor Mining PLC’s (LON:THR) latest sampling at the Pilbara Goldfield tenements project, in Western Australia, confirmed gold in stream sediments. Thirteen of 54 stream sediment sites had visible gold.

MetalNRG PLC (LON:MNRG) is planning a placing of up to £4.5mln after entering into a bid implementation agreement for the acquisition of Lake Victoria Gold Ltd (LVG). It plans to acquire 100% of its shares in issue via a share swap deal.

Europa Metals Ltd (LON:EUZ) has been awarded a €467,000 grant by the Centre for the Development of Industrial Technology, a Spanish government entity operating under the umbrella of the Ministry of Science and Innovation. The grant is for use towards the Toral project.

BlueRock Diamonds PLC (LON:BRD) sold 2,900 carats at an average price of US$300 per carat. The aggregate consideration amounted to just over US$870,000.

W Resources PLC (LON:WRES) has told investors it is “extremely encouraged” by the La Parilla mine’s performance in the month of September, as the Spanish operation began showing improved performance following a phase of upgrade work.

Mineral & Financial Investment Limited (LON:MAFL) has noted the start of work on Ascendant Resources Inc's autumn exploration program at the Lagoa Salgada VMS project in Portugal. Ascendant's programme is part of a phased earn-in to the project.

Vast Resources PLC (LON:VAST) confirmed that the flotation plant at its Baita Plai mine in Romania is now fully operational and producing concentrate. The AIM-listed company also said that it is on track to surpass its initial copper sales delivery target included in the project production

Pembridge Resources PLC (LON:PERE) said a higher copper price gave a boost to its Minto mine in Canada in the three months to end September 2020. The mine was also helped by access to additional funding under the US$12.5mln prepayment facility with Sumitomo, said Gati Al-Jebouri, Pembridge’s chief executive and chairman.

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Appreciate Group to seize upon £7bln market and grow their share by...

Ian O’Doherty CEO and Tim Clancy from Appreciate Group (LON:APP) talk to Proactive London about their business leading up to the busy Christmas period which is crucial for the firm. O'Doherty says when business is back to normal, they are in the right position to be able to grow their market...

12 hours, 21 minutes ago

4 min read