Since the start of the year, the average share price for a mining royalty and streaming company has fallen by 5.5%, with 60% of companies experiencing a negative share price movement.
The lower market valuations have led to an uptick in consolidation, which we highlighted as our key theme for 2022 back in January of this year.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) reported results for the quarter to end April, but the figures are almost irrelevant after a game-changing £40.5mln fundraising completed in May.
The AIM-listed company is using proceeds from the fundraise, which included a £25mln strategic investment by Sir Mick Davis' Vision Blue Resources, to help restart mining at the South Crofty tin project in Cornwall.
Bushveld Minerals Ltd said it secured funding for the engineering, procurement and construction of a hybrid mini-grid to supply energy for its Vametco operation in South Africa.
The hybrid mini-grid project will provide about 10.7% of Vametco's electrical energy while also demonstrating the technical and commercial viability of hybrid mini-grids employing solar panels and vanadium redox flow battery (VRFB) technology
Polymetal International PLC (LSE:POLY) suggested its dividends for 2021 and 2022 would be affected by a decline in operating cash flows amid logistical and cost issues related to Russian sanctions and Covid restrictions in China.
But the Russia- and Kazakhstan-based group, whose shares have been one of the most popular for retail investors in recent months after a near 90% plunge after the invasion of Ukraine, said its gold and silver mining operations continue “undisrupted” in recent months, with sales of gold continuing to Asian markets.
Blencowe Resources PLC (LSE:BRES) shares headed higher after the company trumpeted excellent progress at its Orom-Cross graphite project in Uganda in its half-year results.
Despite the challenges of Covid, particularly its impact on travel, the company said it has made substantial progress and will continue to do so ahead as further milestones are delivered.
Atlantic Lithium Ltd reported high lithium grades from initial drilling results at its flagship Ewoyaa project in Ghana.
Significant high-grade intersections from a completed drilling programme at the Grasscutter North target included 22 metres (m) at 1.25% lithium oxide from a depth of 104m; 15m at 1.35% lithium oxide; and 13m at 1.26% lithium oxide.
Ariana Resources PLC (AIM:AAU) said “significant” progress is being made across the company's gold projects in Europe.
“Most notably, we are advancing into the construction stage of the Tavsan project and associated development activities are being ramped up,” said managing director Dr Kerim Sener.
Technology Minerals PLC (LSE:TM1) said its 49%-owned battery recycling business, Recyclus, has received three lithium battery testbed (LIB) systems designed to measure a range of different battery chemistries of different sizes at its Wolverhampton site.
"The LIB testbeds give Recyclus the operational capability to test the effective capacity of battery packs from a range of EV and industrial usages as well as for degradation or damage at the cell level," Technology Minerals said in a statement.
Anglo Pacific should get a strong tailwind from changes to Queensland’s royalty rate on coal, according to broker Berenberg.
The royalty specialist's ownership of the Kestrel metallurgical coal mine in Australia (it owns 50% of certain substratum lands) means that it is entitled to coal royalty receipts from the mine, which makes It a major beneficiary of the changes.
Bushveld Minerals has unveiled a four-stage plan to boost production towards 8,000 metric tonnes of vanadium per annum (mtVp.a) at its Vametco and Vanchem arms.
Studies were carried out by by METC South Africa and MSAto examine how to increase the run rate of between 5,000 and 5,400 mtVp.expected to be achieved by the end of 2022.
Worldwide spending on coal projects is expected to soar 10% in 2022 as economies search for alternatives with Russia’s invasion of Ukraine ongoing.
Around £93bn will be invested in coal supply chains this year, the International Energy Agency (IEA) said, up from approximately £85bn in 2021, which was itself 10% above the previous year.
Anglo American PLC (LSE:AAL)’s De Beers Group sold US$650mln of rough diamonds in its fifth sales cycle of 2022 and said diamond jewellery demand continues to perform well in the key US market.
“The continued strength of US demand for diamond jewellery and the gradual reopening of retail outlets in China following Covid-19-related lockdowns have supported the sales momentum of De Beers Group's rough diamonds in the fifth sales cycle of the year,” said De Beers chief executive Bruce Cleaver.
Empire Metals Ltd (AIM:EEE) said it started a new drilling programme at the combined Eclipse-Gindalbie gold project in Western Australia.
The reverse circulation drilling campaign, consisting of more than 3,290 metres of drilling across 26 holes, will target high-grade mineralisation.
Trident Royalties PLC (AIM:TRR)’s non-executive chairman Paul Smith highlighted the group’s transformational year in 2021 in a statement ahead of an annual general meeting today.
The AIM-traded company completed four investments during the year, followed by the acquisition of a gold offtake portfolio in January 2022.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) said its primary flake graphite operations at the Sahamamy and Vatomina projects in Madagascar have continued despite unusually challenging weather, including six cyclones in the past six months, as it posted record quarterly shipments and sales in the fourth quarter.
The company’s total flake graphite production for the year to March 2022 rose to 2,996 metric tonnes, from 1,718 tonnes the previous year, and sales grew 43% to 2,662 tonnes.
Landore Resources Ltd (AIM:LND) reiterated it expects to resume drilling at the BAM Gold deposit in Ontario next month while it is reviewing the best way to move its battery metal interests forward.
The drilling will further test the scope of the BAM deposit and also explore the new Felix area along strike and to the west of BAM for both gold and battery metals.
Cobra Resources PLC (LSE:COBR) said it has secured A$73,250 (£41,400) of funding from the South Australian state government to advance exploration and resource definition at the Clarke prospect, part of the Wudinna project.
Gold mineralisation has been defined across 400 metres of strike and is open at depth and to the north at the prospect, while Cobra has also recently discovered rare earth element (REE) mineralisation above the gold mineralisation. The mineralisation at Clarke is not included in Wudinna’s existing 211,000-ounce gold resource.
Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) said three new progressive royalty tiers have been announced by the Queensland Government, potentially giving a major boost to its income.
The new higher royalty tiers are expected to apply to the royalty Anglo Pacific receives from the Kestrel coking coal mine and take effect from 1 July 2022, it said.
Oriole Resources PLC (AIM:ORR) said an updated Environmental Impact Assessment (EIA) report has been submitted for the Muratdere copper-molybdenum project in Turkey.
Oriole has a 1.2% post-tax net smelter return (NSR) royalty in the project, which is operated by Lodos Maden Yatırım Sanayii ve Ticaret AŞ, a unit of Istanbul-quoted investment company Pragma Finansal Danışmanlık Ticaret AŞ.
Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has awarded London-based company Hyperion Copper a 12-month option to acquire its wholly-owned subsidiary Zed Copper, which holds four assets in the Zambian copper belt, including the advanced Luanshya and Mkushi projects.
Under the terms of the agreement, Hyperion will pay a non-refundable fee of A$142,000 (US$100,000) to secure the 12-month exclusive option and will issue a further £2.25 million (~A$4 million) in Hyperion shares should it wish to exercise its option to acquire 100% of Zed Copper.
Altech Chemicals Ltd (ASX:ATC)’s recent site visit to its Silumina Anodes™ pilot plant in Saxony, Germany, has led to a final construction contract with Küttner GmbH & Co. KG.
Küttner is a German engineering firm with strong experience in delivering metallurgical plant projects and has worked with Altech to complete final plant engineering design and cost estimation. It has strong experience in design, procurement, project and construction management and plant commissioning across a range of industries.
Iron ore prices rallied 2.7% to US$113.95 a tonne on Tuesday after plunging a brutal 23% over the previous eight sessions.
A dizzying eight-day plunge had whacked the metal's value by nearly a quarter to US$112.35 a tonne by Monday, as steel mills shut blast furnaces due to growing concern over China's demand outlook.
Metal Tiger PLC (AIM:MTR, OTC:MRTTF, ASX:MTR) said investee companyArmada Metals Ltd (ASX:AMM) intersected magmatic nickel-copper sulphides in all three targets drilled on the Nyanga project in Gabon.
Metal Tiger has a 14.4% stake in Armada and also holds 3.33mln options.
Capital Metals PLC (AIM:CMET) reported “exceptional” high grades from the second batch of drilling results from its Eastern Minerals heavy mineral sands project in Sri Lanka.
Auger drilling results from Komari and Urani North, situated in the south of the project, returned grades of up to 86.1% Total Heavy Minerals (THM). Significant results included 1.5 metres (m) at 51.9% THM; 2.5m at 38.4% THM; and 2.5m at 35.2% THM.
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said CoTec Holdings Corp will transfer £500,000 to Mkango before 30 June, subject to approval, as part of a previously announced potential investment.
Last month, Mkango revealed a proposed £3.5mln investment by CoTec as the companies are looking to collaborate on future investments in rare earth processing technology opportunities in the US. CoTec agreed to advance £500,000 in return for a four-month exclusivity period.
Scotgold Resources Limited (AIM:SGZ) has drawn down the second tranche of a £3mln loan arranged in April from a syndicate of high-net-worth investors.
The current draw-down total amounts to £2.015mln. It is anticipated that the remaining £985,000 of the loan will be received and fully drawn down on or before 30 June 2022.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) said it achieved another key step in the development of its Barroso lithium project in Portugal after completing positive locked cycle testing (LCT).
Three LCTs were completed to simulate the continuous operation of a process plant and to find the optimal reagent dose.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) has commenced a drilling program at its Ragged Range project, located in Eastern Pilbara, Western Australia.
The plan is to conduct around 3,000 metres of reverse circulation (RC) drilling.
Bradda Head Lithium Ltd said it has received conditional permission to begin a drilling programme at its San Domingo pegmatite district in Arizona, US.
The AIM-traded company has permission for an initial 30-hole drilling programme, pending a bond payment adjudication. Drilling is expected to start as soon as the bond payment has been received, usually in no more than 30 days, it said.
Future Metals NL (ASX:FME, AIM:FME) has upgraded the JORC 2012 Mineral Resource Estimate (MRE) of its Panton PGM-Nickel Project in WA to 5 million ounces palladium, platinum and gold (PGM3E) and 238.8 tonnes nickel.
Following the resource update, Panton is now the second-largest PGM (platinum group metals) deposit in Australia, only surpassed by Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF)’s Gonneville discovery.
Sunstone Metals Ltd (ASX:STM) is set to quadruple its landholding in highly prospective northern Ecuador through a staged acquisition of the Verde Chico Project to the west of its El Palmar gold-copper porphyry discovery.
The acquisition from the Verde Chico Group expands Sunstone’s foothold in this prospective belt to 3,672 hectares.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it completed the acquisition of the Vivash Gorge iron ore project in the Pilbara region of Western Australia from Zenith Minerals Ltd (ASX:ZNC).
Alien announced last month that it had entered into an agreement to buy the project.
Cobra Resources PLC (LSE:COBR) said further re-analysis of historic drilling at the Wudinna project in South Australia has defined exceptional high-grade rare earth element (REE) intersections at several targets.
The results from 78 drillholes (1,024 samples) were re-analysed following Cobra’s discovery of REE mineralisation above the Clarke and Baggy Green gold mineralisation.
Cloudbreak Discovery PLC (LSE:CDL) said it has engaged Precision GeoSurveys to conduct high-resolution helicopter-borne magnetic surveys over its Northwestern Portfolio, comprised of the Northern Treasure, Rizz, Icefall and Atlin West projects, in British Columbia, Canada.
The primary goal of the surveys is to identify prominent, potentially mineralised structures and to help determine targets for ground-based exploration.
Base Resources Limited (AIM:BSE, ASX:BSE) is to proceed with development of the Bumamani project in Kenya, following the completion of a definitive feasibility study.
Mining at Bumamani will extend the life of operations at Kwale by 13 months to December 2024, once land access arrangements are finalised.
Empire Metals Ltd (AIM:EEE) has started exploration work at the Pitfield copper-gold project in Western Australia.
It has engaged two companies to carry out an airborne electromagnetic survey and an airborne magnetic survey across the 615km2 Pitfield tenement area.