British Lithium Limited was among the companies to win government grant funding via the Advanced Propulsion Centre's Scale Up Readiness Validation (SuRV) competition.
The operator of a Cornwall-based lithium pilot plant has won £2mln in funding from the Automotive Transformation Fund (ATF), designed to support industrialisation.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF), the Africa-focused lithium exploration and development company, has successfully closed a fully subscribed dual-listing offer on the Australian Stock Exchange (ASX).
The offer to acquire up to 22,850,000 shares in the AIM-quoted company at A$0.58 a piece was open to investors in Australia, New Zealand, Hong Kong and Singapore.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) said it has agreed to acquire three additional mining permits close to its existing projects in Madagascar for a total of about £167,000 in cash, pushing the group’s shares up almost 14%.
Due to the proximity to its existing operations, Tirupati said it believes it can progress the acquired projects in a “timely and cost-effective manner” alongside its other Madagascan projects.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF), with operations primarily focused in the US, has said it is set to commence exploratory drilling at its North Pit/Red Star site in Idaho on September 15, 2022.
The news follows the commencement of drilling by the company at the Empire open pit copper mine in June to provide samples for ATS metallurgical test work.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has raised a gross £1.5mln through a share placing and will use the proceeds to progress its Western Australian projects.
The company placed 300mln shares to certain investors at 0.5p each, a 23% discount to its closing share price yesterday.
Anglesey Mining PLC (AIM:AYM) has outlined the “significant progress” made at its Parys Mountain copper/zinc/lead project in Wales and its iron ore project in Sweden as it released its full-year results to end-March 2022.
“The activities of the last 12 months continue to demonstrate that Anglesey Mining has two potentially long life, highly cash generative mine developments,” said chief executive Jo Battershill in the results statement.
Greatland Gold said construction of the decline at its Havieron gold mine in Western Australia advanced at a record rate in August.
The decline advanced by 196 metres (m) from July 21, 2022, to 685m currently, Greatland said.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has advanced plans to create a local lithium supply chain in Europe with ‘encouraging’ results from joint venture (JV) partner EV Resources Ltd’s rock chip sampling at the Eastern Alps Lithium Satellite Projects in Austria, which returned high lithium values up to 3.24%.
European Lithium purchased a 20% stake in the Eastern Alp Projects back in May 2021, capitalising on the tenure’s proximity to EUR’s own Wolfsberg Lithium Project, which already holds a JORC-compliant resource of 12.9 million tonnes at 1% lithium oxide.
Sovereign Metals Ltd (ASX:SVM, AIM:SVML) has intersected high-grade rutile mineralisation in deeper aircore drilling at Kasiya Project in Malawi, confirming that extensive mineralisation remains at depth outside the current mineral resource estimate and pit shells.
Results from the 191-hole program showed that rutile mineralisation is continuous in many pit areas from surface down to the top of saprock between 20 metres and 30 metres from surface.
Ariana Resources PLC (AIM:AAU) said its 75% held Western Tethyan Resources (WTR) has completed a Heads of Terms (HoT) with TSX-V listed Avrupa Minerals for an exclusive earn-in option over the Slivova gold project in Kosovo.
Slivova represents a sediment-hosted gold deposit containing NI 43-101 Resources of 640,000t at 4.8 grams per ton (g/t) gold and 14.69 g/t silver for 98,700 ounces gold and 302,000 ounces of silver (Indicated) and several less explored potential satellites.
Cornish Lithium Ltd has secured additional funding from the UK government through the Automotive Transformation Fund’s (ATF) Scale up Readiness Validation competition (SuRV).
Money from the fund will be used to fund the construction of the hydrometallurgical section of a demonstration-scale processing plant at Cornish Lithium’s hard rock lithium project at Trelavour, near St Austell.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) has said a maiden drilling programme will start in mid-September at its Wedding Bell and Radium Mountain uranium and vanadium projects in the US state of Colorado.
The 2,000-metre programme will focus on three prospects, Rim Rock, Groundhog, and Section 23, with the latter - located in the southeast corner of Wedding Bell - being the highest priority drill target.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has appointed Roderick McIllree as executive chairman with immediate effect and that current chairman, Dan Smith, has become a non-executive director.
London-based McIllree is an experienced mining executive with knowledge of global finance, mergers and acquisitions, project management, international logistics and precious and base metal production, the company noted.
Panthera Resources PLC (AIM:PAT) said drilling results confirmed that a “significant” new gold zone has been discovered at the Labola project in Burkina Faso.
Results from recent drilling at the TT-13 target, conducted by Moydow Holdings Ltd, include 10 metres (m) at 1.55 grammes a tonne (g/t) gold; 4m at 2.10 g/t; 16m at 1.26 g/t; 9m at 1.08 g/t; and 10m at 1.81 g/t gold.
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said CoTec Holdings Corp, an ESG-focused investor in innovative technologies, has agreed to advance a further £500,000 to the company through a convertible advance note.
As part of the agreement, Mkango has agreed to extend CoTec's exclusivity period for the two companies to collaborate on future investments in rare earth processing technology opportunities in the US until November 30, 2022.
Mila Resources PLC (LSE:MILA) said it has begun its stage 2 drilling programme at the Kathleen Valley Gold Project in Western Australia.
The post-discovery gold exploration company said diamond core drilling started today at the flagship Coffey deposit following a “successful stage 1 programme,” which uncovered a defined mineralisation zone 200 metres (m) long, 220m down dip and ranging from 2m to 10m in true thickness.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has boosted the resource base at its flagship Nalunaq gold project in Greenland.
The new resource was prepared by SRK Consulting and incorporates the drilling results from the 2020 and 2021 field seasons.
The Organisation of Petroleum Exporting Countries and its allies (OPEC+) have confirmed an agreement to slash oil production by 100,000 barrels per day (bpd), albeit accounting for just 0.1% of global demand, to help support prices.
Russian deputy prime minister Alexander Novak revealed that expectations of slower global economic growth is the reason behind cutting output.
During August, the downtrend in the mining royalty and streaming sector continued. As we predicted in our previous round-up, the positive movement in July was more of a dead cat bounce, than the start of something special.
The average share price for a mining royalty and streamlining company during August was down 3.1%, which means the average share price for a mining royalty and streaming business, since the start of the year, is down 17.1%, removing one outlier from the data.
‘Low cost and reliable’ Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) is a bargain among the Africa-focused gold diggers, according to Liberum.
The City broker repeated its ‘buy’ recommendation on the stock in the Zimbabwe-based operator alongside its 1,431p a share price target – a 70% premium to Monday’s close.
Rio Tinto PLC (LSE:RIO) has entered into a definitive arrangement agreement to acquire full ownership of Turquoise Hill, and the giant Oyu Tolgoi copper project that it owns in Mongolia.
The Turquoise Hill board of directors has unanimously recommended minority shareholders vote in favour of Rio Tinto's offer of C$43.00 per share in cash.
Blencowe Resources PLC (LSE:BRES) said it terminated its agreement with SIPA Resources relating to the Akelikongo nickel project so that it can focus on its flagship Orom-Cross graphite project.
Blencowe, which bought the right to earn in to the Akelikongo project in February, said the decision to relinquish its exposure to the project had been driven mainly by the “truly exceptional results” from a pre-feasibility study (PFS) for Orom-Cross, which is located near Akelikongo in Northern Uganda.
Caerus Mineral Resources has been told that it will not be able to renew the Kalavasos East licence AE4811 in Cyprus.
Any further exploration has also been blocked by the Cyprus Ministry of Defence (MOD) due to the proximity to military installations.
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) said the second half of the year has started “very strongly” as the East Africa-focused gold producer reported its interim results.
“The performance of the company has continued to go from strength to strength throughout the first half of the year, and we expect that to continue into H2 2022,” said Shanta chief executive Eric Zurrin.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF) said it has received permission to drill 120 holes at the Basin East Extension (BEE) in Arizona and it plans to start drilling the first phase, consisting of 20 holes, this month.
BEE is adjacent to Basin East (BE) where Bradda has a 305,000 tonne lithium carbonate equivalent (LCE) JORC-compliant resource.
Panthera Resources has delineated five significant prospects of wide zones of metal mineralisation from the latest drilling at Bassala in Mali.
Mark Bolton, managing director, said: “We were able to delineate at least 5 areas as prospects, the Tabakorole prospect being a significant structure that we walked over a 2km strike length.”
Red Rock Resources PLC (AIM:RRR) announced new progress and results from a reverse circulation (RC) drill programme conducted by its wholly owned subsidiary, Faso Greenstone Resources, at the Bilbale licence in the south-west of Burkina Faso.
The company completed a seven hole RC drill programme totalling 778 metres.
Power Metal Resources PLC (AIM:POW) said it completed a placing to raise £800,000, before expenses, to advance some priority exploration projects and for general working capital.
The funds raised will support the acceleration, and allow for the potential expansion, of the ongoing geophysics and upcoming drill programme at the Molopo Farms Complex project in Botswana, where drilling is set to start mid-September targeting a large-scale nickel sulphide discovery.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has entered into a binding Heads of Agreement with Mallina Exploration Pty Ltd to acquire a strategic tenement, currently under application with the Department of Mines, bounding the Hancock iron ore project in Australia.
Alien has also applied directly for two additional exploration licences within the Hancock area, ELA47/4605 or 'Hancock West', and ELA47/4817 or 'Hancock Northwest', which provide future resource growth opportunities.
Technology Minerals PLC (LSE:TM1) said Recyclus, its 49%-owned battery recycling business, has received approval from the UK’s Environmental Agency to recycle car batteries at its Tipton plant in the Midlands.
Approved Battery Treatment Operator (ABTO) status authorises Recyclus to produce up to 15,000 metric tonnes (MT) of lead per year from the recycling of lead-acid batteries.
Jubilee Metals Group PLC (AIM:JLP, JSE:JBL, OTC:JUBPF)’s newly constructed Zambian copper concentrator, Project Roan, has reached nameplate capacity.
The throughput rate is now being maintained at 110 tonnes per hour.
Europa Metals Ltd (AIM:EUZ, JSE:EUZ, OTC:EOPAF) said it intersected high-grade mineralisation at its Toral lead-zinc-silver project in Spain.
Initial assay results returned a significant intersection from drillhole TOD-041 of 3.20 metres (m) at 15.16% zinc equivalent (ZnEq), incorporating lead and silver credits, including 1.10m at 32.03% ZnEq (PbAg).