Greatland Gold said it has renegotiated the original terms of its acquisition of the Havieron gold prospect in Western Australia.
Originally, in 2016, the gold junior paid A$25,000 cash and 65.5mln in shares with further consideration of 145.5mln shares due when either its interest reduces to 25% or lower or mining starts.
Panther Metals PLC (LSE:PALM) has noted the high-grade results from drilling by its Australian associate at the Burtville East Gold project and Eight Foot Well prospect in Western Australia.
Darren Hazelwood, Panther Metals PLC’s chief executive, said: "The goldfields of Western Australia continue to produce surprises and I'm delighted for everyone involved with this stunning drilling success at the Burtville East Project.
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) said it appointed Tracey Kerr as an independent non-executive director with immediate effect, as part of the company's global expansion strategy.
Kerr, a geologist by background, has overseen global exploration programmes at a number of large multinational corporates, including Anglo American PLC (LSE:AAL), where she held the position of group head of exploration across Anglo's exploration activities in 15 countries, Jubilee said in a statement.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said an independent valuation of its Kanye Resources assets has indicated they are worth US$8mln currently.
The junior recently took back 100% ownership of the Kanye joint venture and chief executive Ben Turney said the valuation “underlines the commercial rationale for the deal”.
Trident Royalties PLC (AIM:TRR) said Sonoroy Holdings, its 50%-held joint venture with Marmottes Capital, has extended the longstop date to complete the acquisition of a 3% gross royalty interest over the Sonora lithium project in Mexico.
Sonoroy is acquiring the royalty from the estate of Colin Orr-Ewing (The Estate) with completion now set to be the earlier of 31 January 2025 or the date six months after the first royalty payment.
Canadian mining investor Sprott has started research coverage of Aussie gold explorer Greatland Gold PLC (AIM:GGP, OTC:GRLGF) with a bullish update.
Key to the story is Havieron in Western Australia, where a 3Mtpa pre-feasibility study envisages 10 years of production at 264,00oz annual gold equivalent including copper.
Anglo Pacific’s acquisition of the South32 copper/nickel project portfolio has won approval from several City analysts.
Peel Hunt says it is the cornerstone acquisition it was looking for to replace Kestrel, its Australian coal mining royalty, where revenues are winding down (read more).
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF) said the cobalt refining circuit at the Sable copper and cobalt refinery in Zambia entered the commissioning phase last month.
The first trial cobalt product was produced in line with the commissioning and ramp-up schedule and commercial output is targeted to start in August, said the metals processing company.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) reported record gold production from the Blanket Mine in Zimbabwe in the second quarter and said it was on track to meet its full-year output guidance.
It produced 20,091 ounces of gold, up 20% from the year-earlier quarter, lifting first-half output to 38,606 ounces, a 29% increase on the first half of 2021.
Capital Metals PLC (AIM:CMET) said it is monitoring the economic and political situation in Sri Lanka where it is developing the Eastern Minerals heavy mineral sands project.
A state of emergency was declared today in Sri Lanka, shortly after the president fled the country, as mass protests continue over the country’s economic crisis.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it continued to make progress in Ethiopia and Saudi Arabia in the second quarter following an improvement in the local working environment in both countries since late 2021.
"Work is gathering pace on many fronts,” executive chairman Harry Anagnostaras-Adams said in the gold exploration and development company’s second-quarter operational update.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) said it has awarded all major and long-lead-time process plant equipment contracts for its flagship Araguaia nickel project in Brazil, a significant de-risking event for the project.
It also provides more certainty on costs for a significant portion of the overall capital expenditure and builds confidence in the project’s schedule by gaining commitments for the delivery of key equipment on site within a required timeframe, it said.
Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) has today announced the acquisition of a US$185 million copper and nickel royalty portfolio acquisition from mining major, South32.
The portfolio of royalties includes:
Power Metal Resources PLC (AIM:POW) told investors that it has confirmed uranium exploration targets across four properties in its portfolio surrounding the Athabasca Basin, Saskatchewan, Canada.
The company, in a statement, said that hyperspectral data analysis utilising Sentinel-2 satellite data on hydrogen and helium gas reflectance has refined the uranium targets.
Emmerson PLC's (AIM:EML, OTC:EMSNF) Khemisset potash project is “best-in-class” and is key in ensuring global food security, that's according to stockbroker Liberum, which today repeated a 'buy' recommendation for the London-listed share.
War in Ukraine emphasised the need for reliable potash supply, the broker highlighted in a note spotlighting Emmerson’s project in Morocco.
With a target price of 14.2p the broker sees substantial upside to the current price of just over 7p.
Liberum's analysts, in a note, said that the company's latest market update has shown significant progress in terms of construction decisions and discussions with banks for financing.
Stockbroker Peel Hunt repeated a ‘buy’ recommendation for Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) highlighting that management is working through tweaks to the Valcan plant and expects the company will hit its design recoveries by year end.
Tharisa on Tuesday told investors that chrome production for 2022 would be 10% lower than previously guided amid a slower ramp-up of the plant in Q2. The company said it expects to produce between 1.55 million tonnes (Mt) and 1.65 Mt for the year to end-September 2022.
Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) has announced the finalization of several agreements with its lending partner, a fund managed by Sprott Resource Lending (TSX:SIL) Corp., including a new debt repayment schedule to enhance its liquidity and provide financial flexibility.
The gold miner also unveiled plans for a strategic review process which might involve a potential sale or merger of the company.
Great Western Mining Corporation PLC (AIM:GWMO) said it plans to create a joint venture (JV) to process gold and silver from waste material on its mineral concessions in Nevada, US.
The company’s shares jumped as much as 23% in London after it announced it had signed a memorandum of understanding with an experienced Nevada mining contractor.
Caerus Mineral Resources PLC (LSE:CMRS) noted that BMG Resources Ltd (ASX:BMG) has invoked the dispute resolution process with New Cyprus Copper PA Ltd (NCC), part of Caerus Mineral's Cypriot portfolio.
NCC owns a 90% interest in Treasure Development Ltd (TDL) in Cyprus and is also responsible for maintaining and progressing other Cypriot projects. ASX-listed BMG is a minority shareholder in TDL with a 10% interest.
Petropavlovsk PLC (LSE:POG) has filed to enter administration following a recent demand from the Russian gold miner’s main lender Gazprombank for the immediate repayment of a US$201mln loan.
The company, once one of the largest gold producers listed in London, said it resolved to file with the court an application for an administration order appointing Allister Manson, Trevor Binyon and Jo Rolls of Opus Business Advisory Group as administrators.
Klarna, the buy-now-pay-later fintech, has raised US$800mln but had to accept a steep drop in its valuation to get it.
The financing round saw Klarna's valuation slashed by 85%, reflecting gloomy investor sentiment surrounding high-growth tech stocks and increased regulation of buy-now-pay-later lenders.
Anglo American PLC (LSE:AAL) has announced the opening of a new copper mine in Peru against a backdrop of plunging metal prices.
The Quellaveco operation is expected to deliver around 300,000 tonnes a year at full nameplate capacity and required around US$5bn of investment to take into production.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF) said it intends to trade on the official list of the Australian Securities Exchange (ASX).
The listing reflects the global demand for a sustainable supply of lithium to facilitate the transition to a lower-carbon future, the AIM-traded company said in a statement.
Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) said it agreed to buy a high-quality portfolio of royalties over advanced development stage copper and nickel projects from South32 Royalty Investments Pty Ltd for an initial US$185mln (£156mln) in cash and shares.
"Anglo Pacific is now firmly positioned as the leading, future-facing commodities royalty and streaming company with copper, nickel and cobalt at the core of its commodity exposure,” said Anglo Pacific chief executive Marc Bishop Lafleche.
Caracal Gold PLC (LSE:GCAT) has boosted the indicated and inferred resource at Kilimapesa Hill in Kenya to 12.15mln tonnes of ore grading 1.4 grams of gold, for a total of 565,700 ounces of contained gold.
The new resource will support a minimum 10-year mine life for the project, with production targeted at 24,000 ounces per year.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has been awarded two additional exploration licences via its joint venture company Gold and Minerals Limited in Saudi Arabia.
G&M is owned 30% by KEFI and 70% by its partner Abdul Rahman Saad Al Rashid and Sons Ltd, known as ARTAR.
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) reduced its full-year chrome production guidance by 10% due to lower chrome feed grade and a slower ramp-up at the Vulcan plant.
It expects to produce between 1.55 million tonnes (Mt) and 1.65 Mt for the year to end-September 2022.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) told investors that its 2022 drilling programme is underway, as scheduled, at its flagship Empire Mine project in Idaho, USA.
A core drilling rig capable of drilling 85mm PQ-diameter core samples has arrived at the project, the AIM-quoted base and precious metals explorer said.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) has appointed Murat Erden at its new chief financial officer with immediate effect.
As well as joining the senior management team, the company said he will also be responsible for the development and implementation of the company's ESG (environmental, social and governance) and sustainability strategy.
South Harz Potash Ltd (ASX:SHP) has achieved a landmark resource upgrade for the flagship Ohmgebirge potash deposit within the South Harz Project in Germany, converting more than half of the resource into the indicated category.
The Ohmgebirge resource was upgraded from 325 million tonnes at 13.2% potassium oxide (K2O) to 338 million tonnes at 12.9%.
Oracle Power PLC (AIM:ORCP) chief executive Naheed Memon, in a statement, highlighted that during the first quarter the company built on and consolidated developments across its increasingly diversified portfolio of power and natural resources assets.
"Looking now at the company's achievements during the quarter, the main breakthrough developments were delivered by Oracle Energy Limited, the company's green hydrogen-focused joint venture company with Kaheel Energy FZE, which is wholly owned by the private office of His Highness Shaikh Ahmed Dalmook Al Maktoum,” Memon said.
Scotgold Resources Ltd said it produced and sold record amounts of gold in the second quarter from its Cononish gold and silver mine in Scotland, lifting its shares as much as 10%.
"This has been our strongest quarter yet for Scotgold, characterised by record gold production which exceeded guidance, record gold sales translating into significant cash generation and continued progress on the ground to meet our production and operational targets,” said chief executive Phil Day.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) told investors that it is looking at additional options to advance its engagement with Tirupati Speciality Graphite Private Limited (TSG), a company it agreed to acquire in 2018.
The deal for TSG, which was set up to develop downstream flake graphite projects, was pursued by Tirupati to pursue the benefits of vertical integration. The acquisition remains subject to regulatory approval and still has some outstanding issues.
Emmerson PLC (AIM:EML, OTC:EMSNF) is progressing well with work on its Khemisset potash project in Morocco.
The global potash market remains strong, with spot prices running at US$1,100 per tonne in Brazil, a key market.
ECR Minerals PLC (AIM:ECR) released upbeat results from the latest hole drilled at the HR3 prospect within its Bailieston gold project in Victoria, Australia.
The results from drillhole BH3DD035 indicated signs of grade continuity with adjacent holes, said the AIM-traded company.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) has identified a cluster of three electromagnetic conductors within Target Area B in the northern Hukuntsi section of its Kalahari Suture Zone project in Botswana.
The size and orientation of these conductors conform to an idealized model of the famous Talnakh and Kharaelakh massive sulphide nickel-copper-platinum group element orebodies at Norilsk in Russia.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) has started a new drill programme at the South Crofty tin mine in Cornwall.
The programme will comprise a minimum of 8,000 metres and is designed to collect samples for metallurgical testwork as part of the ongoing feasibility study.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) said it completed the drilling programme at its Ragged Range gold and nickel project in the Pilbara, Western Australia.
The drilling samples have been sent to a laboratory in South Australia, with assay results expected to return in August-September, said the AIM-traded company.