Savannah Resources PLC (LON:SAV) has inked an agreement with Galp for a proposed partnership in the lithium field around the Mina do Barroso mining project in northern Portugal. The heads of agreement with the major Portuguese energy group envisages Galp taking a 10% stake in Savannah’s subsidiary via a US$6.4mln investment, to support a definitive feasibility study.
Landore Resources Limited (LON:LND) said a soil sampling programme carried out along the strike to the east and west of its BAM gold project in Ontario, Canada has established the presence of “widespread anomalous gold” at the site. The explorer said a new soil-till sampling campaign covering 2km along strike to the east of the project completed in 2020 indicated “multiple gold trends” and recorded the highest soil-till assay results to date, adding that the results supported extending resource drilling at the site.
Alien Metals Ltd (LON:UFO) said it has kicked off an airborne magnetic survey over the Elizabeth Hill Project in Western Australia. The explorer highlighted that the survey will help tie together all the existing prospects and historical data, to assist in the prioritisation of the target inventory.
IronRidge Resources Limited (LON:IRR) said drilling has commenced at the Ewoyaa lithium project in Ghana in an attempt to expand the resource at the site. The AIM-listed company said the first hole drilled has intersected visible spodumene, a source of lithium, on a new target within 500 metres (m) of the current resource, adding that 10,000m of the total 12,500m of planned drilling is designed to test seven high-priority targets to add potential resource tonnes.
Castillo Copper Ltd’s (ASX:CCZ) (LON:CCZ) (FRA:7OR) surged as much as 90% as assays for the 200 series and six drill-holes for the 300 series significantly extend known mineralisation at the high-grade Big One Deposit within the core Mt Oxide Project in northwest Queensland. Best results are 40 metres at 1.64% copper from surface, including 1-metre at 16.65% from 29 metres, and 44 metres at 1.19% copper from surface.
Oracle Power PLC (LON:ORCP) said its consortium partner, China National Coal Development Company (CNCDC) has commenced preliminary feasibility work relating to the potential gasification of coal at Oracle’s Thar Block VI project in Pakistan. CNCDC will guide the feasibility study workstreams for the project, which includes market analyses, type of product and scale, process technology evaluation, public engineering of auxiliary facilities required, investment estimation and financial evaluations.
Anglesey Mining PLC (LON:AYM) released the results of its preliminary economic assessment (PEA) of the Parys Mountain copper-zinc-lead-gold-silver project on the island of Anglesey in North Wales. Based around an updated resource estimate of 5.2mln tonnes of indicated together with 11.7mln tonnes of inferred ore, the expanded development scenario shows a pre-tax net present value (NPV) at a 10% discount of US$120mln for Parys, with an internal rate of return running at 26% over a 12-year mine life.
Trident Royalties PLC (LON:TRR) said that drilling at the Lake Rebecca gold project in Western Australia, in which it owns a 1.5% net smelter royalty, has shown potential for “significant upgrades” to the mineral resource estimate in an update scheduled for the second quarter of 2021. The mining royalty and streaming firm said that drilling by the project’s owner, Apollo Consolidated, at the Rebecca deposit to de-risk future mining studies has returned “strong gold drill intercepts” as well as “significant new hanging-wall gold mineralisation”.
Power Metal Resources PLC (LON:POW) updated on the maiden drill programme targeting the discovery of nickel and Platinum group metals at the Haneti project in Tanzania. Power Metal holds a 35% ownership interest in Haneti, with 65% held by Katoro Gold PLC (LON:KAT).
IronRidge Resources Limited (LON:IRR) told investors it has defined multiple new pegmatite targets in auger drilling results from the Ewoyaa Lithium Project (ELP), in Ghana. The company said that seven high-priority pegmatite target zones have been defined. Individual pegmatites are seen with up to 460 metres length and 30 metres of apparent width.
ECR Minerals PLC (LON: ECR) said it has commenced drilling operations at the Bailieston project in the Victoria Goldfields, Australia. “ECR’s wholly owned Australian subsidiary MGA has built a strategic portfolio of exploration ground in the Victoria Goldfields with granted and application licences totalling some 1,175 square kilometres,” said chief executive Craig Brown in a statement.
Alien Metals Ltd (LON:UFO) said its Canadian partner Capstone Mining (TSX:CS) is to start a 2,500 metre drill program at the Donovan 2 Copper-Gold project in Mexico. Capstone has an agreement whereby it can acquire a 65% interest in Donovan 2 through US$3.9mln of exploration work and take its stake up to 80% if it pays for a pre-feasibility study.
Oracle Power PLC (LON:ORCP) told investors it is strongly encouraged by findings from the interpretation of magnetic and IP (Induced Polarisation) geophysical data for the Northern Zone gold project. The company noted the completion of processing and interpretation of the data for Northern Zone, which is located in the east of Kalgoorlie area of Western Australia.
Bezant Resources PLC (LON:BZT) told investors that the latest results from the Hope copper-gold project in Namibia have provided increased motivation to test the 130 kilometre strike. The company noted that the findings from assaying the samples of two drill holes completed by Bezant at Hope’s Gorob-Vendome massive sulphide deposit indicate continuity of copper-gold mineralisation within the inferred mineral resource envelope.
Thor Mining PLC (LON:THR)(ASX:THR) said it has completed the acquisition of additional licence areas adjacent to Ragged Range in the Pilbara region of Western Australia. Thor previously advised the execution of a non-binding Terms Sheet for this acquisition on November 23, 2020.
Eurasia Mining PLC (LON:EUA) provided an update on the formal sale process initiated by the company under the UK Takeover Code on July 1, 2020. The palladium, Platinum, rhodium, iridium and gold producing company said it and its advisers have engaged with a wide range of parties, and have to date received non-binding offers in respect of both a possible acquisition of the company as well as other transaction structures.
MetalNRG PLC (LON:MNRG) told investors it has been cleared to acquire Sunswept Enterprise and its related assets. The company said it has received confirmation from the Oil & Gas Authority that it does not oppose the change of control of Sunswept Enterprise to the BritNRG subsidiary.
IronRidge Resources Ltd (LON:IRR) has completed the sale of its non-core May Queen gold project in Queensland to Australasian Gold Ltd (AGL). IronRidge will receive 4.5mln shares representing 28.1% of the enlarged share capital of Australasian Gold.
Jubilee Metals Group PLC (LON:JLP) said it has conducted a placing of around 99.9mln new shares and 11.5mln existing shares at a price of 13p each with two supportive blue-chip institutional shareholders, one of which is new to the share register.
Kodal Minerals PLC (LON:KOD) said good progress is being made on the funding agreement that will finance the exploration programme at the Fatou Gold Project. Due diligence is nearing completion and documentation is in progress but due to delays over the Christmas period, an extension of two weeks has been granted to the investors for completion of the final contract.
Greatland Gold PLC (LON:GGP) noted an announcement from its joint venture partner Newcrest Mining Ltd saying it has approved A$146mln (£82mln) in funding for the construction of the box cut, exploration decline and associated surface infrastructure at the Havieron project in Western Australia following the receipt of regulatory approvals in December.
W Resources PLC (LON:WRES) said it has drawn down a further £500,000 tranche from the £4mln convertible bond facility it has with Atlas Capital Markets. This is the second drawdown made from the facility which was secured on March 30, 2020.
W Resources PLC (LON:WRES) updated investors on a grant from the Junta de Extremadura government in Spain as well as an extension to its loan facility with Banco Santander. The AIM-listed tungsten, tin and gold miner said following a number of meetings toward the end of December between its senior management and representatives of the Extremadura government, it has been assured that the approved €5.3mln (£4.7mln) grant is being processed for payment later in the first half of 2021.
Jubilee Metals Group PLC (LON:JLP) saw earnings more than double in the second half of 2020 as its Platinum (PGM) and chrome tailings recovery operations ran at record levels. Earnings from the PGM and chrome businesses rose by 123% to £28.4mln in the six months to end December compared to £12.8mln first half of the year.
NQ Minerals PLC (AQSE:NQMI) reported an uplift in underlying profits in 2020 after a strong final quarter at its Hellyer mine in Tasmania. Gross revenues were A$63mln £35.9mln), operating profits A$24mln and net income A$22.7mln, though NQ added these number do not factor in associated costs at the PLC level.
Anglo Asian Mining PLC (LON:AAZ) reported record revenues for 2020 as higher gold prices offset disruption from coronavirus (COVID-19) and the new outbreak of fighting between Azerbaijan and Armenia. The AIM-listed group’s Gedabek mine in Azerbaijan produced 69,000 ounces of gold equivalent ounces during 2020, compared to 82,800 a year earlier, but this decline was offset by a 26% rise in the average gold price achieved from sales to US$1,777 per ounce.
Sunrise Resources PLC (LON:SRES) told investors it has hit the ground running in 2021, as work continues across its portfolio. The company, in a project update, highlighted progress at the CS Pozzolan-Perlite and Sundance Gold projects in Nevada, and Baker's Gold project in Western Australia.
Power Metal Resources PLC (LON:POW) updated on ongoing work being undertaken by Kalahari Key Mineral Exploration Pty Ltd at the Molopo Farms Complex, which is targeting prospective massive nickel sulphide and platinum-group metal mineralisation in Botswana. Following the successful drilling of the first two diamond drill holes to their initial target depth an extensive technical review is currently underway at the Molopo Farms Complex project.
Later in the week, Power Metal gave a breakdown of its current funding position. Chief executive Paul Johnson said after the current programme of extensive exploration activities to 31 March 2021 are complete and paid for, the company "will still have significant financial resources and remain in a strong position”.
Strategic Minerals PLC (LON:SML) reported what it said were “strong” quarterly sales from its Cobre magnetite operation in New Mexico, USA. In an update for the quarter to December 31, 2020, the mineral producer reported sales from the project of US$747,000, up from US$713,000 a year ago, while tonnage from the site increased to 12,845 tonnes from 12,202 in 2019.
Oracle Power PLC (LON:ORCP) chief executive, Naheed Memon has provided an extensive update to the market in respect of developments during the fourth quarter of 2020. "The final quarter of the year was a significant period for the company, presenting considerable opportunities despite frustrations relating to certain delays in Pakistan,” said Memon in the update.
Amur Minerals Corporation (LON:AMC) told investors it has received the fourth quarter interest payment of US$164,768 from its investment in privately owned company Nathan River Resources (NRR) for the restart of the Roper Bar iron ore project in Australia’s Northern Territory.
Tharisa PLC (LON:THS) has confirmed a strong quarter in its South African Platinum and chrome mining operation. The company revealed that 1,234 tonnes of reef was mined in the quarter ended December 31, 2020, down 12.2% on the preceding quarter, but, against the year-on-year comparative volumes, up 8% for the quarter.
Ariana Resources PLC (LON:AAU) has said it produced 18,645 ounces of gold at its 50%-owned Kiziltepe mine during the year to December 2020, exceeding guidance by 3.5%. As at the end of 2020, the group noted the mine had produced a total of 84,200 ounces of gold and 915,233 ounces of silver, recording US$134 million in revenue since operations commenced in early 2017.
BlueRock Diamonds PLC (LON:BRD) said it boosted production at its Kareevlei mine in South Africa during the 2020 full year to 15,371 carats, up from the 14,033 produced in 2019. Processed tonnes increased by 25% compared with the previous year, despite the mine being closed due to the coronavirus (COVID-19) for a period of 50 days starting on March 24, 2020.
Pembridge Resources PLC (LON:PERE) said its partially-owned Minto copper mine in Canada produced 5,143 wet metric tonnes of concentrate during the fourth quarter of 2020. A total of 24,646 wet metric tonnes of concentrate were produced during 2020, up from the 7,167 wet metric tonnes produced in 2019.
Later in the week, Pembridge announced the appointments of a new president and interim CFO of Minto.
MetalNRG PLC (LON:MNRG) said its directors have resolved not to proceed with the planned acquisition of Lake Victoria Gold Ltd (LVG), announced on October 20, 2020. The natural resource investing and exploration company said that it has been working on reassessing the transaction and completing further due diligence.