Power Metal Resources PLC (AIM:POW) has provided an update on the Molopo Farms Complex Project, which is targeting a large-scale nickel-copper-platinum group element (PGE) discovery in southwestern Botswana, with drilling expected to start shortly.
In a statement, Paul Johnson, chief executive officer of Power Metal Resources commented: "Our work at Molopo Farms is gathering pace with the parameters for the first two diamond core drillholes into Target 1-6 now confirmed. With the drill rig now on-site we expect to start drilling the first priority target hole shortly.
Cleantech Lithium's CEO Aldo Boitano said the recent AIM-listee has made ‘terrific strides’ forward with its flagship assets in Chile in the first half of 2022.
“Our drilling campaigns have produced results we are really pleased with and we will continue to drive forward on our work programmes in 2H 2022 to optimise their potential value,” he said in a statement.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) expects to produce 54,000 to 58,000 gold equivalent ounces (GEOs) in 2022, the Azerbaijan-focused company said alongside its first-half results.
The copper, gold, and silver miner produced 28,772 GEOs in the first half, down from 32,171 ounces in the year-earlier period, due to lower gold grades from its Gedabek operation.
Ferro-Alloy Resources Ltd (LSE:FAR) said it plans to raise £8.6mln, before expenses, so it can complete a feasibility study for the giant Balasausqandiq vanadium deposit in Southern Kazakhstan as soon as possible.
It proposes to raise about £8.2mln through a placing and subscriptions and the remainder from a PrimaryBid offer, all at an issue price of 12.0 pence per share, a 17.9% discount from yesterday’s closing share price.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTC:GALKF) said it has appointed an experienced mining contractor to develop the access and exploration drives to the Joshua Vein at its Omagh gold project in Northern Ireland.
QME Ltd, based on the east coast of Ireland, will undertake 600 metres of underground development, which is expected to start in January 2023.
Oriole Resources PLC (AIM:ORR) has reported positive results from the latest drilling programme at its 90%-owned Bibemi gold project in Cameroon.
The best results from Phase 4 of its diamond drilling programme include 2.00 metres (m) grading 39.42 grammes a tonne (g/t) gold from a depth of 160m at the extension to Phase 2 hole BBDD034, including 1.00m at 75.36 g/t gold.
Future Metals NL (ASX:FME, AIM:FME) has secured approval – and a drilling contractor – for a program of works involving 3,000 metres of initial diamond drilling at the Panton Project in Western Australia, to begin next month once current ground exploration surveys are complete.
The company is targeting nickel-copper-platinum group element (PGE) sulphide accumulations outside the existing resource at Panton with geophysical surveys overseen by newly appointed senior exploration advisor Dr Jon Hronsky.
Rio Tinto PLC (LSE:RIO) and China Baowu Steel have agreed to invest US2bn in a new iron ore mine in Pilbara.
The venture, in which Rio Tinto will hold a 54% stake and the Chinese steelmaker the rest, will develop the Western Range iron ore project in Pilbara.
Empire Metals Ltd (AIM:EEE) said it expects shortly to produce a full electromagnetic survey over its Pitfield deposit in Australia.
Pitfield is already displaying characteristics of a significant copper mineral system, it added, with good potential to make a major copper discovery there.
It could only be a matter of a few days now before shares in MetalNRG PLC (LSE:MNRG) start to enjoy a substantial re-rating.
The occasion will be a legal hearing that will take place on in the fourth week of September which ought to decide once and for all an issue which has dogged sentiment towards MetalNRG since April of this year.
Bezant Resources PLC (AIM:BZT) has said it plans diamond drilling in coming weeks to follow up on high values of manganese seen in trench assay results at its 100% owned high-grade Kanye project in Botswana.
Lab assays from trench sampling at the Loltware prospect returned in-situ chip/grab sample peak results of 41.4% manganese oxide (MnO), 49.23% MnO and 40.83% MnO from one metre wide zones of siliceous manganese mineralisation within a continuously mineralised zone of 40 metres (m) at 11.53% MnO.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it has been issued two of the three required exploration licences for the Jibal Qutman Gold Project in Saudi Arabia.
The licences were issued through the company’s Gold and Minerals Limited (G&M) joint venture with partner Abdul Rahman Saad Al Rashid and Sons, of which AIM-quoted KEFI owns 30%.
ECR Minerals PLC (AIM:ECR) said drilling has started at the Blue Moon prospect at its Bailieston gold project in Australia using the company’s own drill rig.
The 'MIDAS' diamond drill rig will drill an initial four holes covering 1,000 metres (m), following up on positive results from a reverse circulation drilling programme.
Pan African Resources PLC (AIM:PAF, OTCQX:PAFRY, JSE:PAN, OTCQX:PAFRF) has reported an increase in full-year pretax profit on record gold production.
Pretax profit for the year to end-June, 2022, rose by 2% to US$106.9mln as gold output grew to 205,688 ounces, exceeding its revised guidance of 200,000 ounces as well as the previous year’s production of 201,777 ounces.
Altech Chemicals Ltd (ASX:ATC) is trading higher after executing a Joint Venture Shareholders’ Agreement with leading German battery institute Fraunhofer IKTS to commercialise IKTS’ revolutionary CERENERGY® Sodium Alumina Solid State (SAS) Battery that is free of lithium, graphite, copper and cobalt.
The SAS CERENERGY® battery uses common table salt and ceramic solid-state technology and Altech believes that these batteries are the “game-changing” grid storage alternative to lithium-ion batteries.
Analysts at Berenberg have reiterated a 'Buy' rating on Greatland Gold PLC (AIM:GGP, OTC:GRLGF) following recent key funding and board strengthening news plus its plans to list on the Australian Stock Exchange (ASX)
The Berenberg analysts, however, cut their share price target for Greatland Gold to 18.00p from 22.00p to reflect higher dilution than previously expected. In late afternoon trade on Tuesday, Greatland shares were trading at 9.05p, up 0.3% on Monday's close having jumped higher that session when the news was announced.
Fresnillo PLC (LSE:FRES), the world's largest primary silver producer, said Mexico’s state-owned electricity regulator had requested additional testing before the Juanicipio underground mine can be tied into the electrical grid.
“Based on the timing of these tests, we expect that power for final commissioning and start of operations should be available by the end of October, and that production ramp up will commence immediately thereafter,” the FTSE 100 miner said in a statement.
Bushveld Minerals returned to profitability in the first half of 2022 helped by higher vanadium prices and a steady rise in production.
Revenues jumped to US$76mln from US$47mln as the average ferrovanadium price rose by 35% and production edged up 4%.
Trident Royalties PLC (AIM:TRR) delivered sales of just over US$3.1mln during the six months to June 2022, up significantly from the US$77,000 a year earlier.
The loss before taxation amounted to US$800,000, a slight reduction on the US$1mln booked previously.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its five prospecting licences in the Kalahari Suture Zone (KSZ) and one at the Ditau project have been renewed and it has also been awarded a new prospecting licence in the KSZ.
"The renewal of six of our prospecting licences and the issue of one additional licence by the Department of Mines enables Kavango to plan a substantial work program across its portfolio, as well as advance discussions with potential partners,” said Kavango chief executive Ben Turney in a statement.
Bradda Head Lithium Ltd said it has completed the first hole of its current 30-hole San Domingo pegmatite exploration programme in Central Arizona.
The company has confirmed significant intersections of spodumene-bearing pegmatite in this first hole.
Tungsten West PLC (AIM:TUN) signed a non-binding term sheet for a US$30mln royalty investment.
The agreement comes after refinements were made this summer to its development plan for the Hemerdon tungsten project in the UK.
Panther Metals PLC (LSE:PALM) said it has defined a new area, in the northeast of its Dotted Lake property in Canada, which is considered a very prospective zone for nickel mineralisation.
The new target was identified using a digitised historical geochemical soil survey report and Panther’s recent airborne geophysics and soil geochemistry surveys.
Petra Diamonds Limited (LSE:PDL, OTC:PDLMF) said it will launch a US$150mln debt reduction plan and established a dividend policy that it is hoped will return between 15-35% of adjusted free cash flow after unveiling strong financial performance.
The company delivered a 44% increase in revenues to US$585mln, which resulted in a doubling of underlying earnings (EBIDTA) to US$265mln.
Future Metals NL (ASX:FME, AIM:FME) has moved to double the ceiling of a share purchase plan (SPP) intended to raise A$500,000 from existing shareholders after receiving heavily oversubscribed offers.
FME’s board has opted to exercise its discretion under the prospectus to increase the SPP to raise up to A$1 million and following the strong response will still need to scale back the applications.
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) has announced results from initial drilling at the newly discovered Sambara Prospect and continued drilling at the Makosa gold deposit at its Douta Gold Project in Senegal.
"We are pleased to report a successful initial drilling campaign on the Sambara prospect. Significantly, this has established that gold mineralisation is developed in the northern parts of our exploration permit. We look forward to advancing exploration on this discovery which we hope will supplement the Makosa resource,” Segun Lawson, Thor president & CEO, said in a statement.
Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) has reaffirmed third quarter 2022 guidance and announced that gold production in August 2022 set a new monthly record for the PureGold Mine, driven by record ore throughput and improved grades.
The company said both the August ore throughput of 25,188 tonnes or 813 tonnes per day (tpd) and gold production of 4,595 ounces represent monthly records for the mine to date. Ore throughput of 24,052 tonnes in July was also a monthly record until being broken in August, it added.
Greatland Gold’s deal with Wyloo Metals is a big plus for the miner, according to broker Canaccord.
Wyloo is investing £35mln at the same price as a recent placing and combined with bank facilities of £130mln (also announced today) means the junior can now focus on Havieron’s development through to production as its share of financing (30%) is now complete.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) saw its shares rise on Monday after it noted a widely publicised request for a permanent ceasefire by the Tigrayan rebel leadership in Ethiopia.
The gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, said the communique on September 11, 2022, seeks mediation by the African Union and participation in the national reconciliation process already being arranged by the Federal Government of Ethiopia.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) shares rose early on Monday as the company revealed it has secured up to A$340mln (£200mln) in new funding that it expects will fully fund its 30% share of developing the world-class Havieron gold-copper deposit in Western Australia into production, and unveiled three transformational board appointments.
Shares in the AIM-traded development and exploration company jumped over 11% to 9.25p following the announcements.
Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) booked a loss of US$8.8mln in the six months to June 2022.
The company had more than US$84mln cash in the bank as it continued to deploy funds towards the construction and development of the Vares project in Bosnia & Herzegovina.
Cobra Resources PLC (LSE:COBR) released results from 32 holes drilled as part of an extensive 91-hole, 4,000m aircore drilling programme at the Wudinna project in South Australia.
The results revealed further extensive clay hosted rare earth elements mineralisation defined across six further target areas, the gold, rare earth and IOCG exploration company said.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) has released the results of a bankable feasibility study in the economics of the La India open pit gold project in Nicaragua.
The feasibility study is based around probable mineral reserve of 7.3mln tonnes of ore grading 2.56 grams per tonne for 602,000 ounces. The internal rate of return rings in at 23%.
Antipa Minerals Ltd (ASX:AZY)'s war chest is bulging following a non-underwritten placement to raise roughly A$9 million before costs through the issue of around 333.7 million fully paid ordinary shares at A$0.027 per share.
The placement met with strong demand from international and domestic institutions together with sophisticated and professional investors.
Highfield Resources Ltd (ASX:HFR) is making great progress at the Muga Potash Mine in Spain with the construction work ahead of schedule and progressing in accordance with the planned budget.
Progress by the construction team has been assisted by favourable dry weather conditions as well as good equipment availability.