Barclays analysts have kept faith in Glencore PLC (LSE:GLEN) after unseasonably warm weather caused excess supplies of gas and coal, driving prices down by 36% and 32% respectively.
Even if higher temperatures continue into late November, Barclays suggests that “coal burn should ramp up meaningfully into winter and we would see any weakness as an opportunity to increase exposure.”
Shares in Bens Creek Group PLC (AIM:BEN, OTC:BENCF) rallied as it clarified the relationship between its majority shareholder MBU Capital and Bluestar Global.
Bens Creek yesterday announced that Blue Star had a charge over the 57.6% stake MBU holds in the West Virginia-focused metallurgical coal miner.
Chaarat Gold Holdings Ltd (AIM:CGH) has updated the JORC-compliant mineral resource estimate (MRE) for the Kapan polymetallic mine in Armenia by 25% to 722,000 gold equivalent ounces in the measured and indicated (M&I) categories.
M&I tonnes increased by 30% to 2.602 Mt from 1.955 Mt, while grade dropped by 5% from 9.1 g/t gold equivalent to 8.6 g/t.
Base Resources Limited (AIM:BSE, ASX:BSE), an African mineral sands producer, released its inaugural sustainability report assessing its performance over several years up to end-June at its Kwale operations in Kenya and its Toliara development project in Madagascar.
The company is on track to meet the majority of its targets, according to its internal self-assessment.
European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTC:EMHLF) said lithium specialist Marc Rowley will lead its definitive feasibility study (DFS) team to progress the Cinovec project in the Czech Republic.
“Marc will significantly enhance the company's expertise in relation to delivery of the DFS for the lithium chemical plant at the Cinovec project,” said executive chairman Keith Coughlan.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) said it is well positioned to hit the top end of full-year targets for production, with costs being kept under control.
The West Africa-focused gold miner produced 343,000 ounces of gold at an all-in-sustaining cost (AISC) of US$960 per oz, stable compared to the preceding quarter despite the impact of the wet season.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) has appointed former McKinsey Partner and seasoned Portuguese chief executive, Diogo da Silveira, as independent non-executive director with immediate effect.
The lithium development company, which owns the Barroso project in northern Portugal, noted that da Silveira has been the CEO of several listed and private companies, a European non-executive director at several more, as well as being a management member of several Portuguese industrial associations and serving the French Embassy in Portugal as Conseiller du Commerce Exterieur.
Phoenix Copper Ltd (AIM:PXC, OTCQX:PXCLF) reported encouraging results from the first three drill holes at its Empire open pit copper project in Idaho, US.
The drilling results confirmed the continuity of mineralisation within the open pit, which appears along structures striking northeast and dipping steeply to the southeast, it said.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s revenues rose by 21% in the latest quarter as production from its Blanket gold mine hit another new record.
The Zimbabwe-focused miner said production this year is on course to hit the top end of its 73,000-80,000oz guidance after output rose 11% to 21,200oz in the three months to end-September.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) said it allotted 2.0mln new shares at 5.28p per share to the Australian Special Opportunity Fund LP after the fund exercised its final tranche of share options in the rare earths group.
Dealings in the new shares are expected to start on 14 November on the London Stock Exchange’s main market.
Ariana Resources PLC (AIM:AAU) hailed the “substantial progress” made on its advanced Turkish gold projects, which are 23.5% owned by Ariana through its shareholding in Zenit Madencilik San. ve Tic. AS.
Gold production at the Kiziltepe gold-silver mine in western Turkey continues to perform in line with guidance, said AIM-listed Ariana, adding that an ongoing drilling programme has now completed over 11,000 metres (m) of diamond drilling.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) rose 5% on Thursday following the completion of the £62mln equity fundraise announced early October.
The company intends to use the net proceeds of the fundraise to meet increased capital requirements for the construction of the company's Araguaia ferronickel project in Brazil, as well as for general working capital purposes.
Caledonia Mining’s 100% owned Maligreen project now has over half its resources in the measured and indicated category following a new upgrade.
But Maligreen is looking less significant compared to Bilboes and Motapa, also in Zimbabwe, which have the potential to be transformative for the gold miner, according to Liberum.
Caracal Gold said production is on track to reach 16,000oz in 2023 and 24,000 by 2024.
Output totalled 12,000oz in the period to June 2022, all from the Kilimapesa mine in Kenya.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF), the European lithium development company, has today signed a binding heads of agreement (HoA) with MRG Metals (ASX:MRQ) Limited via its subsidiary AME East Africa Limited.
Under the agreement, MRG may acquire Savannah’s final mining concessions in Mozambique, owned by Savannah's subsidiary Matilda Minerals Lda, for US$800,000 paid in cash or shares.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF) said it received approval to list on Toronto’s Venture exchange (TSX-V) and that trading will start tomorrow under the BHLI ticker.
The North America-focused lithium development company said in July that it planned to list on the TSX-V.
Europa Metals Ltd (AIM:EUZ, JSE:EUZ) announced the highest-grade drilling result so far for its flagship Toral lead-zinc-silver project in Spain.
Shares in the AIM-traded group jumped as high as 23% following the release of the latest assay results from the project.
Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) has told investors that its Ewoyaa lithium project in Ghana is showing ‘significant potential’ for a future resource upgrade as it revealed the latest results from recent drilling.
The company, which aims to build Ghana’s first lithium mine, announced highlights from assays spanning some 4,709 metres of exploration and infill reverse circulation drilling, including multiple intersections containing high grades.
East Star Resources PLC (LSE:EST) said it completed a three-and-a-half-month diamond drilling programme on its two Chu-Ili gold belt licences in Kazakhstan and that a visual inspection of the core shows promising signs of potentially gold-bearing mineralisation across all targets.
It conducted about 4,947 metres (m) of diamond core drilling comprising: 17 boreholes, totalling 3,088m, on the Novoe, Southern Shabdar and Eshkilitau II targets on the Apmintas licence; and 19 boreholes totalling 1,860m on the Alatagyl target on the Dalny licence.
Great Western Mining Corporation PLC (AIM:GWMO) announced an independent initial resource estimate for the Olympic Gold tailings project in Nevada, US.
A JORC-compliant inferred mineral resource of about 31,000 tonnes, grading 1.6 grammes a tonne (g/t) gold and 3.0 g/t silver for 1,600 troy ounces of gold metal and 3,000 ounces of silver metal, has been estimated for the tailings project at Olympic Mine.
Britishvolt, Ford Motor Co and several electric vehicle charging companies are among a group of organisations that have written to the UK government calling for a mandate on a minimum level of EVs on the road by 2024.
The UK has already set a deadline of 2035 from when the sale of new petrol and diesel cars and vans will be banned and is still working on the precise details of the minimum EV mandate.
Mila Resources PLC (LSE:MILA) said it raised £212,000 via a placing to “build upon the highly successful Stage 1 drilling campaign at Kathleen Valley.”
The gold junior said it sold over 7mln shares at 3p each to supplement the £696,000 raised last month.
Optiva Securities has given Asiamet Resources Ltd (AIM:ARS) the thumbs up following news of a non-brokered, private placement to Indonesian holding company Delta Dunia Makmur (DOID) worth £2.65mln at an issue price of 1.15p per share.
Proceeds of the placing will be used to finalise AIM-quoted Asiamet Resources’ BKM copper project bankable feasibility study update, advance project financing works for the development of BKM and for working capital purposes.
Asiamet Resources Ltd (AIM:ARS) has announced a non-brokered, private placement to Indonesian holding company Delta Dunia Makmur (DOID) worth £2.65mln at an issue price of 1.15p per share.
The placement was agreed on at a 17.5% premium to the 10-day volume weighted average price (VWAP) and increases DOID's interest in the company from 15.3% to 24.2%.
Two developments helped the North East of England recover its growing reputation as one of the key regions in Britain's nascent electric vehicle industry, which recently has been overshadowed by the financial woes at Britishvolt.
After the EV battery start-up narrowly avoided administration last week thanks to a rescue fundraising, Green Lithium Refining Ltd said its planned lithium refinery at Teesport is set to cement the UK’s place as a “leader of the electric revolution”.
PYX Resources Ltd (LSE:PYX, NSX:PYX) produced 2,500 tonnes of zircon from its operations in Indonesia in the third quarter of 2022, along with a tonne of titanium dioxide materials, a total production increase, when compared to the corresponding quarter a year ago, of 129%.
"We continue to fast-track PYX's aggressive expansion strategy to cement its position as a key international supplier of premium zircon and take advantage of the strong mineral sands market,” said PYX chief executive Oliver B Hasler.
Cobra Resources PLC (LSE:COBR) expects to complete its latest round of drilling on the Wudinna project in South Australia in around two weeks.
Drilling at the Clarke prospect is being informed by encouraging geophysics obtained from the South Australian Advanced Discovery Initiative co-funded Loupe TEM survey.
Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) is making strong progress in ongoing work at the South Crofty mine in Cornwall.
Following the £40.5mln financing in May 2022, the company has been pressing ahead with plans to dewater the old mine, and construction of a water treatment plant is now well underway.
Power Metal Resources PLC (AIM:POW) has released results from its recently completed drilling programme on the 100%-owned and operated Tati project, located within the Tati Greenstone Belt near Francistown, Botswana.
Assay results from the first three holes, which included the bonanza intercept one metre of 47.1 grams per tonne from six metres downhole depth, were previously announced to the market on 3 November 2022.
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) has hit more high-grade gold in ongoing drilling at its West Kenya project.
Highlights include 2.1 metres at 16.6 grams per tonne gold, 0.6 metres at 22.3 grams, and 7.9 metres at 5.4 grams.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has released an updated mineral resource for the Maligreen gold project in Zimbabwe.
The measured and indicated resource now stands at 8.03mln tonnes of ore grading 1.17 grams per tonne gold for 442,000 ounces of gold, while the inferred resource stands at 6.17mln tonnes grading 2.12 grams per tonne for 420,000 ounces.
AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) has completed commissioning of Phase 1 of its expansion programme at the Uis tin, tantalum and lithium project in Namibia.
Production of tin concentrate is now projected to ramp up from 780 tonnes per year to 1,200 tonnes per year over the next three months.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) said preliminary production from its new permit area had gone well since operations began at the end of October 2022.
Some 2,500 tons of run-of-mine coal was produced in a single day with a clean coal recovery of 62%.
CleanTech Lithium PLC (AIM:CTL) said it is expanding its investor relations programme to Germany and Switzerland following the appointment of a specialist group, Dr Reuter Investor Relations.
In addition, it has stepped up its shareholder outreach operations in Australia and is mulling the "merits" of a stock market quote there.