Emmerson PLC (AIM:EML, OTC:EMSNF) is well positioned to take advantage of the fertiliser market, said analysts at Shore Capital and Liberum.
Shore Capital said the potash development company is “fully funded to complete the detailed engineering work and remaining permitting and project financing processes through to a construction decision.”
Kibo Energy PLC (LSE:KIBO, JSE:KBO) announced plans to spin off its renewable/clean energy generation projects into a new company via an IPO.
Kibo said it hopes the new company, to be called Ultimate Sustainable Energy Ltd (USE), will be listed on AIM with funds from the IPO being used to develop the renewable/clean energy generation projects.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) increased its investment in its Empire Mine as drilling continues at the site despite the gloomy wider economy.
“The outlook has deteriorated, at least in the short term. Copper and sterling have both been extremely volatile, and currently sit at around 30% below their highs for the year,” said chairman Marcus Edward-Jones.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said it completed over 10,000 meters of drilling at its United Downs project which confirmed “management’s belief in the potential to develop a mineral resource”.
The mineral exploration and development company said its four main targets were drill tested with all four “returning results warranting further follow-up drilling.”
Harvest Minerals Ltd (AIM:HMI, OTC:HMIFF) said it beat its 2022 sales order target of 150,000 tonnes for its organic fertiliser KP Férti with three months of the year still to go as the AIM-listed fertiliser producer revealed it was cashflow positive in the first half of the year.
With sales orders of 32,676 in the third quarter, the AIM-listed company said sales orders in the first nine months of the year have totalled 153,074 tonnes, more than double the 74,159 a year earlier, with the fourth quarter expected to see “robust” sales.
Panther Metals PLC (LSE:PALM) highlighted further high-grade gold drill results from the second phase programme at the Burtville East gold project in Western Australia, which is being progressed by its part-owned Australian associate.
Results from reverse circulation drilling included highlight intercepts with 3.69 grams per tonne (g/t) gold over 7 metres (from a depth of 61 metres) and 1.24 g/t over 12 metres (at a depth of 88 metres), including 1 metre with 4.8g/t.
Oriole Resources PLC (AIM:ORR) identified “multiple” gold anomalies at its Faré prospect in the Senala gold project in Senegal, with results indicating the area could host a “stand-alone resource.”
At Faré, gold assays for 2,551 samples “identified multiple structurally controlled gold anomalies outside of the previously identified footprint,” according to a statement from the gold exploration company.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its infill soil sampling successfully enhanced target resolution at its Kalahari Copper Belt licence PL082/2018 in Botswana ahead of drilling.
The metals explorer extended its two existing target zones within PL082/2018 and added a third (Middle Zone).
Kodal Minerals PLC (AIM:KOD) is in talks to finance its Bougouni lithium project in Mali based on a capital cost of accelerating the development through a dense media separation (DMS) processing plant option estimated to be US$65mln, with a payback of two months once operations start if fully funded by equity.
With this capital development cost covering all associated infrastructure and commencement of mining, the company estimated this would generate an estimated NPV7% of approximately US$557mln, or US$420mln post-tax, with revenue forecast to exceed US$1.05bn in less than four years, based a price averaging US$2,080 per tonne of lithium, well below the recent spot prices above US$5,000.
Oriole Resources has hailed exploration results across its prospects in Cameroon and Senegal over the past six months.
Tim Livesey, chief executive, said: "The diamond drilling campaigns at Bibemi [Cameroon] have been a great success, with the majority of holes intersecting orogenic-type gold mineralisation and providing depth continuity to the multiple targets identified within the 12km-long surface expression.
Greatland Gold PLC (AIM:GGP, OTC:GRLGF) released a three-dimensional (3D) interactive model of its key Havieron project in Australia.
The model is for illustrative purposes only and uses previously reported JORC mineral resource estimates and drill results up to 8 September.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) hailed the progress made in the first half of 2022, including the £8mln equity fundraising in April that cleared its outstanding liabilities and “reinforce the momentum of its projects” towards first gold pours towards the end of 2024.
It had £2.3mln of cash in the bank at the end of June, on which same day an umbrella financing agreement was signed for the Tulu Kapi gold project in Ethiopia by all project participants.
Kavango Resources selected thirteen priority exploration areas across four of its prospecting licences in the Kalahari Copper Belt (KCB) in Botswana.
The objective is to make one or more discoveries of economically viable copper/silver deposits, the group said.
Power Metal Resources PLC (AIM:POW) said results from an electromagnetic survey over its T2-3 target at Molopo Farms in Botswana has identified a "large, significant geophysical conductor".
The conductor remains open in all directions, said the statement, and is strongly coincident with a magnetic body identified by the ground and airborne magnetic surveys.
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) partner Atlantic Lithium Ltd has completed a positive prefeasibility study (PFS) for the Ewoyaa Project in the Cape Coast region of Ghana.
The PFS demonstrates a production target of about 255,000 tonnes per annum of 6% lithium spodumene concentrate over a 12.5-year mine life from ore reserves of 18.9 million tonnes at 1.24% lithium oxide.
Ora Banda Mining Ltd (ASX:OBM) CEO Luke Creagh has made the transition to managing director, taking up a different leadership mantle to guide the company in leveraging the most value possible from its landholdings.
Creagh is a mining engineer with 20 years of experience in contracting and mining companies at projects both domestically and internationally.
Panther Metals PLC (LSE:PALM) said the first half of 2022 was “an exciting time” as the mining and exploration company reported interim results.
The group booked a loss of just under £175,000 in the six months to June 2022 and closed out the period with £71,000 in cash. It subsequently raised £1.1mln in early August.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it made “significant progress” as it reported interim results.
“This half year has seen significant progress across a number of projects with several exciting developments within our portfolio of precious and base metal commodities,” said new executive chairman Roderick McIllree.
Sunstone Metals Ltd (ASX:STM) continues to grow the mineralised footprint at its El Palmar gold and copper discovery thanks to drilling in northern Ecuador.
The results are in for another three holes, all of which have reported mineralisation close to the surface. Some of the best hits include:
Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) partner Sayona Mining has awarded a four‐year contract valued at around C$200 million to Québec company L Fournier & Fils for mining operations as it looks to fast-track the restart of production at its North American Lithium (NAL) JV operation in Canada.
Piedmont, a leading, diversified developer of lithium resources, formed a partnership with Sayona in March 2022, shortly after Sayona completed a resource update for the North American Lithium and Authier projects in Quebec totalling 119.1 million tonnes at 1.05% Li2O.
Capital Metals’ full-year results underscored operational highlights including regulatory approval for its Eastern Minerals project in Sri Lanka and a significant expansion of an existing exploration licence.
Post-year-end, AIM-listed Capital Metals was also granted two additional industrial mining licences (IMLs).
Pure Gold Mining Inc (TSX-V:PGM, LSE:PUR, OTC:LRTNF) reported that it has now filed the previously-announced NI 43-101 resource update for its PureGold mine in Red Lake, Ontario.
As reported in August this year, the new estimate, prepared by SRK Consulting (Canada) Inc, showed 1.65 million ounces of gold at 7.4 grams per tonne (g/t) in the indicated category, and 0.37 million ounces of gold at 6.3 g/t in the inferred.
AIM-quoted natural resources company Jangada Mines’ first-half performance was marked by the ongoing development of its 100%-owned, Brazil-based Pitombeiras ferrovanadium project.
The company concluded the current phase of its drilling programme, posting a total mineral resource estimate of 8.26 metric tonnes (Mt), representing a 45% increase from the previous interim period.
Following successful operations testing and final regulatory clearance, Anglo American PLC (LSE:AAL) has started commercial copper operations at its Quellaveco project in Peru.
Quellaveco is expected to produce 300,000 tonnes per year of copper equivalent volume on average over its first 10 years of operation.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) booked a loss before tax of £1.53mln in the six months to June 2022.
The company closed out the period with a cash balance of £9.4mln.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) told investors that drilling has now begun at the Wedding Bell and Radium Mountain projects, located in the historic uranium-vanadium mining district in southwest Colorado.
It will be a 2,000-metre maiden drill campaign which is prioritising the Rim Rock, Groundhog and Section 23 prospects, Thor highlighted in a statement.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF)’s Araguaia nickel project in Brazil has been approved as a Strategic Minerals Project by the Brazilian government.
This approval will ensure that the Araguaia project is treated on a priority basis by the various government agencies engaged in the construction and operation of the mine, through the support of an inter-ministerial committee.
Vast Resources PLC (AIM:VAST) said it is raising £656,000 through a placing of 164mln shares at a price of 0.4p per share.
The money raised will ensure the company’s operations continue to be supported over the coming weeks as a consequence of a delay in exporting its latest concentrate shipment, due to shipping availability.
Cobra Resources PLC (LSE:COBR) said a reassessment of historic drill holes at the Thompson and Anderson prospects on its Wudinna project had demonstrated much bigger regional potential rare earth metals than previously estimated.
Significant REE (rare earths) intersections have been defined across 15 targets, it said, while higher density drilling has defined a combined REE footprint at Clarke, Baggy Green and Thompson of over 22.5 sq km, up from 4 sq km previously, where rare earth mineralisation intersections lengths average over 15 metres (m).
Emmerson PLC (AIM:EML, OTC:EMSNF) has agreed with Global Sustainable Minerals Pte Ltd and Gold Quay Capital Pte Ltd to extend the commitment period for the previously announced US$40mln convertible loan note subscription out to 30 September 2023, providing continued cornerstone financing support for the development of the Khemisset potash project in Morocco.
Separately, the company also announced a retail offer of shares via REX, the proprietary technology platform owned by Peel Hunt, and a subscription for US$6mln with GSM at 6p per share.
Blencowe Resources PLC (LSE:BRES) said it commenced the Definitive Feasibility Study (DFS) for its flagship Orom-Cross graphite project in Uganda.
The move follows "outstanding” results from the Pre-Feasibility Study (PFS) of the project, which was presented to the market in July. The DFS is the last step in terms of major studies before the company decides whether to mine.