Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF)’s assay results from the remaining four drill holes of its Phase 1 programme at United Downs project in Cornwall confirm the potential to develop a mineral resource, says Hannam & Partners.
All holes intersected multiple mineralised zones, with the United Mines target continuing to demonstrate a transition from copper-rich to tin rich at depth, as seen at South Crofty, said the broker.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ), formerly AEX Gold Inc, told investors that drilling was ahead of schedule at its Nalunaq gold project in Greenland as the explorer posted its results for the second quarter to end-June this year.
The company, which now holds mineral assets of over 7,866.85 square kilometres (sq km) having increased its land package and exposure to base and strategic metals, said it had improved efficiency across all aspects of its portfolio.
Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) reported a record portfolio contribution in the first half, boosted by a surge in coking coal and cobalt prices.
The natural resources royalty and streaming company said its portfolio contribution jumped 303% from the year-earlier period to US$92.8mln, exceeding the US$85.6mln contribution generated for the whole of 2021.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) said it raised about £30mln (US$35mln) via an oversubscribed placing to fund the development of ongoing licenses.
The placing, at a price of 8.2p per ordinary share, will accelerate drilling at the Havieron deposit and grow the wider resource alongside joint venture partner Newcrest Mining Ltd.
Great Western Mining Corporation PLC (AIM:GWMO) said it expects to start receiving assay results in September from a summer drilling programme at Mineral County, Nevada.
It drilled 24 holes, totalling 2,798 metres, over four separate prospects and has lodged cuttings at two separate laboratories for assay and certification.
Rio Tinto PLC (LSE:RIO) said it submitted an “improved non-binding proposal” to acquire the remaining stake in Turquoise Hill Resources Ltd (TSX:TRQ) that the miner does not already own.
According to a statement, the new proposal values the 49% minority stake in the Canadian mineral exploration company at roughly US$3.1bn (C$4.02bn), meaning shareholders would receive C$40 per share, representing an 18% premium to Rio Tinto’s initial offer.
CleanTech Lithium PLC (AIM:CTL) said it has entered into an agreement with China’s SunResin New Materials Co. Ltd, a world leader in deploying commercial scale direct lithium extraction (DLE) plants, to help develop its projects in Chile.
SunResin, which is valued at about US$4bn on the Shenzhen Stock Exchange, has more than 10 years of experience in DLE and has executed nine commercial DLE contracts representing a total capacity of 73,000 tonnes per year of lithium.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) has been granted an option to increase its direct holding in the Hamersley iron ore project to 90% under a revised agreement.
Alien has executed an option agreement to acquire an additional 39% interest in the Hancock and Brockman direct shipping ore (DSO) iron ore projects, part of the Hamersley iron ore project in the Pilbara region of Western Australia.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its co-founder and non-executive director Mike Moles will retire at the end of August, although he will continue as a consultant for the mineral exploration company until the end of February 2023.
Moles, a geologist, established Botswana-focused Kavango Minerals with Hillary Gumbo and they floated Kavango Resources PLC (LSE:KAV, OTC:KVGOF) on the London Stock Exchange in 2018.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said it intersected high-grade copper, tin, and zinc mineralisation from the Mount Wellington and United Mines targets at its United Downs project.
All four of the remaining holes from the Phase 1 drilling programme at United Downs intersected multiple mineralised zones.
US graphics card maker Nvidia Corporation (NASDAQ:NVDA) publishes second-quarter earnings after Wednesday’s closing bell, though again it has already flagged that quarterly revenue will fall US$1.4bn short of the US$8.1bn guided, as sales of gaming chips weakened.
Profit margins are expected to be softer too, hit by a running down of excess inventory, while cost control will also be one of the key issues Wall Street will be watching.
London’s major share indices lurched lower after reports emerged that some energy-intensive industries are at risk of having to shut down some sites or going slower due to gas and electricity prices.
But even companies that are not in especially energy-intensive industries are suffering badly.
Chaarat Gold Holdings Ltd (AIM:CGH)'s Kyzyltash project in the Kyrgyz Republic has the potential to underpin a mid-cap precious metal company, according to finnCap, the company’s corporate broker.
The comment came in the wake of an update from the mine developer, one in which it returned strong metallurgical test results from two approaches that could be used to process gold at Kyzyltash.
East Star Resources PLC (LSE:EST) highlighted the "exceptional" progress made in Kazakhstan since its re-listing in London seven months ago as it reported interim results.
The gold, rare earths and copper explorer was re-admitted in January after completing the acquisition of Discovery Ventures Kazakhstan Ltd (DVK) and an oversubscribed fundraising of £3.1mln.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) hired a financial adviser to lead its search for potential partners for its large-scale Kalahari Suture Zone (KSZ) project in Botswana.
Tamesis Partners LLP has been appointed to identify potential partners and provide advice on any potential corporate transactions.
Oil prices rose after Saudi Arabia warned that supplies could be cut to arrest the recent slide in the value of a barrel of crude.
The financial news group Bloomberg quoted Saudi energy minister Prince Abdulaziz bin Salman as saying the OPEC+ cartel has the “means and flexibility to deal with challenges”.
Power Metal Resources PLC (AIM:POW) said preparations for a diamond drill programme at the Molopo Farms Complex project in Botswana are advancing and a start date will be announced shortly.
Last week, the company said an electromagnetic survey at Molopo Farms, which has the potential to be a large-scale nickel-platinum group element project, confirmed one of the drill holes (K1-6) had penetrated the edge of a newly identified magnetic conductor.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) unveiled an updated technical report detailing how it will economically extract rare earth elements from the phosphogypsum stacks at its Phalaborwa project in South Africa.
Several key enhancements have been made, resulting in significant anticipated capital and operating cost savings for the Phalaborwa preliminary economic assessment (PEA), which is currently being finalised, compared with the initial processing options considered when work started.
Chaarat Gold Holdings Ltd (AIM:CGH) reported strong metallurgical test results on its Kyzyltash gold project in the Kyrgyz Republic.
The metallurgical test work, conducted by SGS Lakefield, showed similar first stage recoveries from both pressure oxidation (POX) and AlbionTM technologies, said the AIM-traded gold producer.
Wood Group (John) PLC is the biggest fish on the City menu for Tuesday.
The FTSE 250-listed group has been trying to reinvent itself by buffering up its green credentials but like its fossil fuel customers, its fortunes are still seemingly tied to the oil and gas cycle.
Base Resources Limited (AIM:BSE, ASX:BSE) is showing signs of progress in its Toliara project, according to analysts at Peel Hunt, which maintained its buy rating on the stock.
The lower-than-expected dividend points to the sign that the company is progressing in its Toliara project, with analysts believing it is looking to keep cash in hand.
Sanctions on Alrosa have done little to push diamond prices higher, according to Liberum, with Gem Diamonds and Petra Diamonds downgraded to a 'hold'.
Analysts at the bank noted that sanctions should in theory boost prices, given that Alrosa, a group of Russian diamond mining companies, accounts for 30% of all diamonds supplied.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) said it entered it an agreement with OCP SA, a Moroccan state-owned producer of phosphate products, and a Moroccan university to further investigate and develop the best technique for extracting rare earth elements from phosphogypsum and then processing them into separated elements.
Phosphogypsum contains rare earths as a by-product of phosphoric acid production.
Question marks have been raised over the funding of Britishvolt’s £3.8bn 'gigafactory' in the north-east of England after the exit of its chief executive and co-founder.
The company confirmed over the weekend Orral Nadjari stepped down to be replaced by his deputy, Graham Hoare, who will be acting CEO.
Base Resources Limited (AIM:BSE, ASX:BSE) posted record profits for the year to end-June on higher prices for mineral sands.
Underlying earnings (EBITDA) rose to a record US$158.7mln from US$96.6mln the previous year as revenue grew 41% to a record US$279.1mln.
Future Metals NL (ASX:FME, AIM:FME) has followed up a successful $5 million share placement with the offer of additional shares through a share purchase plan (SPP), intending to raise up to $500,000 before costs.
The company is offering one free attaching option for every three SPP shares subscribed for. Subscribed shares are offered at $0.125 per share, with the attached option exercisable at a price of $0.10 per share, having an expiry date of June 11, 2024.