Sunstone Metals Ltd (ASX:STM) has completed its share purchase plan (SPP) raising $2.44 million to go with the $22.4 million (before costs) raised in its April placement.
STM launched the SPP on April 13, with eligible applications received under the SPP totalling $2.44 million for 36,417,976 shares at a price of 6.7 cents ($0.067) per share.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTC:EMHLF) said it will start trading on the OTCQX Best Market today, increasing its exposure to major US investors.
It said the decision followed heightened US investor interest in the company’s Cinovec project, the largest hard rock lithium deposit in Europe.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said progress at the Tulu Kapi Gold Mines (TKGM) joint venture in Ethiopia remained on track over the past month, with further advancement on multi-party project financing activities and early development works.
Signing of the financing agreement, which is currently being formalised, remains on course for this quarter, said AIM-traded KEFI.
Panther Metals PLC (LSE:PALM) highlighted positive drilling results from Panther Metals Ltd (Panther Australia) at the Coglia nickel/cobalt project in Western Australia.
"These final assay results provide the highest-grade intercepts of nickel and cobalt in the entire Coglia drill programme, and combined with the previously announced extensions of mineralisation, they confirm the confidence we hold in the Coglia project,” said Darren Hazelwood, chief executive of Panther Metals PLC (LSE:PALM).
AEX Gold Inc (AIM:AEXG, TSX-V:AEX) said it acquired two exploration licences in South Greenland from Orano Group, for a zero upfront amount and a royalty on future production, as it sees a significant opportunity for the discovery of strategic minerals.
The licence area increases AEX’s exposure to metals such as nickel, copper, zinc, lead, titanium, vanadium, graphite and rare earth minerals, as well as additional gold resources across the Nanortalik and Tartoq gold belts.
Caledonia Mining Corp PLC reported a 51% jump in first-quarter profit on record gold production and higher gold prices.
“The first quarter of 2022 was an excellent start to 2022,” said chief executive Steve Curtis. “Gold production in the quarter represents a new production record for any first quarter.”
Power Metal Resources PLC (AIM:POW) said it can move forward more speedily with its 83.33% owned subsidiary First Development Resources (FDR UK) after it agreed to buy Pardoo Resources, the holding company that is currently holding projects in trust.
Power Metal has signed an agreement for the 100% acquisition of Pardoo Resources Pty Limited by FDR UK.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) provided an update for investors on its management activities after members from the company, including chief executive Ryan McDermott met two of Idaho's Congressional delegation in Washington DC to discuss how its mine in Idaho would support the US domestic supply of critical and strategic minerals.
Accompanied by the company's ESG programme and public relations leads, McDermott met Idaho senators Jim Risch and Mike Crapo, both long-standing advocates for developing a secure supply chain of the minerals necessary for national security and technology needs.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) said it awarded the earthworks contract for the construction of its large-scale Araguaia ferronickel project in Brazil to Copa Construção SA.
Copa is a leading Brazilian company with extensive experience in mining projects and civil infrastructure, ranging from roads, viaducts, hydroelectric power plants, ports, airports and transmission lines, said AIM-traded Horizonte.
Stifel GMP said it expects 2022 to be a transition year for Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) as its Red Lake, Ontario mine ramps up and proves its production and cash generating potential.
In a note following news of the Toronto-based company's $30 million private placement announcement, Stifel analysts wrote that the additional financing would provide the company an opportunity to prove up the potential of its Ontario mine.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) noted that Southern Gold Ltd (ASX:SAU) has appointed an experienced resources executive, Robert Smillie, as its new chief executive and managing director effective yesterday.
Metal Tiger has a 19.1% stake in Southern Gold and almost 7.3mln two-year warrants.
Technology Minerals PLC (LSE:TM1)'s 49% owned associate Recyclus Group has been granted an environmental permit at its lead-acid battery recycling plant in Tipton, West Midlands.
The permit from the Environment Agency is for a hazardous waste installation primarily involved in the treatment and processing of lead-acid batteries.
Ferrexpo PLC (LSE:FXPO) has proposed a final dividend of US$0.066 per share for 2021, citing continued demand for its product and the group's strong and resilient performance following Russia's invasion of Ukraine
The FTSE 250 company is the world's third-largest exporter of high-grade iron ore pellets to the global steel industry, with operations in central Ukraine that have largely been able to continue, in spite of the invasion.
Shanta Gold Ltd reiterated that it expects production to pick up again in 2022 after technical issues at its New Luika mine in Tanzania in the early part of 2021.
Production forecasts for this year are in a range of 68,000 to 76,000oz, at a sustaining cost of US$1,050 – 1,250 per oz, compared with 55,300oz in 2021, the miner said in a statement.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) is to receive a grant of up to A$200,000 (£113,000) under the Western Australian government's Exploration Incentive Scheme (EIS).
The grant will be used to co-fund exploration at Greatland's 100%-owned Rudall licence, which is located 20km southeast of Greatland's Havieron gold-copper resource in Western Australia.
Caerus Mineral Resources PLC has released results from exploration on its Kambia-Kapedes project licences in Cyprus.
The first batch of partial assays of chip-channel samples from recent exploration work returned peak gold assays of 7.4 grams per tonne gold and 5.3 grams gold.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) reported positive updates from exploration work at its San Celso and Donovan 2 high-grade silver and copper-gold projects in Zacatecas, Mexico ahead of formal drilling results in the coming weeks.
Drilling at the Donovan 2 copper-gold project intersected a 78-metre (m) sulphide bearing zone from a depth of about from 107m. Three other holes have also intercepted a steeply dipping alteration zone at the Los Alamos 'well' target, a potentially significant copper zone associated with historical sample grades of 3.34% copper.
Ora Banda Mining Ltd (ASX:OBM) has made tracks on stage one of its operational reset plan (ORP), which covers the Davyhurst gold play in Western Australia’s Eastern Goldfields.
The ORP is described as an important step-change for Ora Banda as it works to consolidate its operations, cut costs and focus on cash generation over the next two years.
Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) said it has arranged a non-brokered private placement of 200 million units of the company at a price of 15 cents per unit for aggregate gross proceeds of $30 million.
The company said it may elect to upsize the offering to up to a maximum of 266,666,666 units for aggregate gross proceeds of up to $40 million based on demand.
Landore Resources Ltd (AIM:LND) has released the results of a preliminary economic assessment on the BAM gold project at Junior Lake in Canada.
The company has also commenced a review of the strategic options available in relation to its Canadian subsidiary and assets.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said it found a second target at its Great Red Spot (GRS) prospect in Botswana with characteristics similar to BHP Group Ltd's huge Olympic Dam polymetallic operation in Australia.
The iron oxide copper-gold (IOCG) style model indicates a second mineralisation style possibly present within the GRS in addition to the existing potential for nickel/copper sulphide deposits, said Kavango in a statement.
AEX Gold Inc (AIM:AEXG, TSX-V:AEX) has released the results of its 2021 exploration campaign across the Vagar licence, South Greenland.
Vagar is a large gold exploration licence containing multiple high priority targets, including the Vagar Ridge, in the heart of the Nanortalik gold belt, in close proximity to AEX’s flagship Nalunaq project.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said development planning studies have resumed at the Jibal Qutman gold project in Saudi Arabia following a new regulatory system at the Saudi Arabian Ministry for Industry and Mineral Resources.
Alternative processing options are now viable, which should allow for a greater portion of the ore body to be developed, meaning a greater resource and production profile, it said, adding that gold prices are also considerably higher than the US$1,200 used in 2015 when Kefi lodged its initial mining licence application.
Amur Minerals Corporation (AIM:AMC, OTC:AMMCF) has entered into a share purchase agreement for the sale of the Kun-Manie nickel project in Russia for US$105mln.
The divesture price represents premiums of 220% to the company's market capitalisation on May 5 and 330% to the current Kun-Manie book value of US$24.4mln, as at 30 June 2021.
Technology Minerals PLC (LSE:TM1) has appointed a chief financial officer with significant natural resources experience.
Chartered accountant James Cable’s most recent appointment was as CFO with the GemRock Company.