Medium-sized African gold miners are still a favourite theme for broker Liberum with Caledonia and Shanta as two of its top picks.
Caledonia Mining celebrated yet another quarterly production record in its third quarter and believes annual 2022 at the Blanket mine in Zimbabwe will be at the top end of its guidance range of 73-80,000 ounces.
Power Metal Resources PLC (AIM:POW) said it has acquired the North Wind lithium project in Ontario, Canada.
The junior has staked a total of 5,788.5 hectares over a 16 km-long trend of highly anomalous lithium-in-lake sediment results.
Anglesey Mining PLC (AIM:AYM) said it is making “significant progress” at its Parys Mountain copper-zinc-lead project and its iron ore projects in Sweden and Canada.
"At Parys Mountain, the ongoing work programmes including a mineral resource update for the White Rock and Engine Zones, additional metallurgical testwork and environmental studies will continue to advance the project through the production studies and permitting phases.
Base Resources Limited (AIM:BSE, ASX:BSE) "remains very focused on extending Kwale Operations’ mine life to maximise value for all stakeholders", the company's non-executive chair told shareholders at its annual general meeting (AGM) held on Friday in Perth, Western Australia.
In a statement delivered at the AGM, Michael Stirzaker said: "The 2022 financial year saw the continuation of the buoyant mineral sands markets that characterised the last few years."
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has announced the appointment of Douglas Wright as an additional non-executive director to its board.
Prior to joining Tirupati, Wright served as the chairman of Kavango Resources, an LSE-listed mineral exploration company with operations in Southern Africa. The company noted that Wright has over 30 years' experience of working in the City, including as a partner at City & Westminster Corporate Finance. He is an existing shareholder in Tirupati, owning 1,000,000 shares.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) said its Controlled-Source Audio Magnetotelluric (CSAMT) survey in the Kalahari Copper Belt in Botswana has identified potential mineralisation far deeper than previously expected.
“Initial results of inversions of the CSAMT data from the Line 4A Survey appear to provide high-quality vertical resistivity sections that identify sedimentary strata with good resolution, down to 4,000m depth,” Kavango said in a statement.
Arkle Resources PLC (AIM:ARK) shares soared 26% higher on Thursday after revealing exploration results which were described as “compelling indications” of potential lithium deposits in Ireland.
The small-cap explorer, in a statement, reported results from early stage reconnaissance work in the Wexford and Wicklow, in an area referred to as ‘Mine River’.
Thor Mining PLC's (AIM:THR, OTC:THORF, ASX:THR) recent farm-out deal for its Molyhil tungsten project and the sale of its adjacent Bonya tenement, both of which are in Northern Territory, Australia, will allow the firm to focus on areas where analysts at WH Ireland "see the potential for value creation".
Thor announced today that its wholly owned subsidiary Molyhil Mining Pty Ltd has signed a Heads of Agreement (HOA) with ASX-listed Investigator Resources Limited (IVR) to fund the accelerated exploration of Thor’s 100%-owned Molyhil tenements, in the Northern Territory, and the sale of the neighbouring Bonya tenement in which it has a 40% interest. Molyhil is an advanced tungsten-molybdenum project.
Anglo American PLC (LSE:AAL) and Aurubis AG, one of the world's largest copper recyclers, said they have agreed to work together to develop sustainably sourced and supplied copper.
The companies said they are seeking to provide assurance around the way copper is mined, processed, transported and brought to market.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) said construction and installation of a second preconcentrate plant at its Vatomina project in Madagascar is complete.
Trial runs and integration into the existing operations are in process, said the London-listed graphite and graphene company.
AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) said an exploration programme has confirmed that the ML133 licence, located about 35 km from the company's flagship Uis tin mine in Namibia, could contain significant lithium, tin and tantalum mineralisation.
The exploration programme, started in the fourth quarter of 2021, included aerial surveys, regional and high-resolution geological mapping, and surface chip sampling. The programme targeted outcropping pegmatites, many of which were found to contain lithium, tin, and tantalum, said the AIM-traded company.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) has agreed to a farm-out deal for its Molyhil tungsten project and the sale of its adjacent Bonya tenement. both of which are in Northern Territory, Australia.
In a statement, Thor said the deal would allow it to focus on its US uranium assets and the multi-commodity Ragged Range project while retaining an interest in Molyhil.
Panther Metals PLC (LSE:PALM) said it completed the first phase of a drilling programme at the Obonga project in north-western Ontario, Canada.
The diamond drill programme targeted multiple high-priority electromagnetic and magnetic geophysical anomalies prospective for volcanogenic massive sulphide (VMS) hosted copper/base metal mineralisation and intrusion-hosted nickel, platinum and palladium.
Glencore PLC (LSE:GLEN) is the best pick in the mining sector heading into 2023, according to Deutsche Bank, which expects a shortage of battery metals to come to a head over the next twelve months.
“There is not enough supply to meet future energy transition-related demand,” said the bank's analysts in a note, highlighting the FTSE 100's group's cobalt division.
Galileo Resources PLC (AIM:GLR) said recent drilling at the Luansobe copper project in Zambia has identified wide zones of moderate grade and near-surface copper mineralisation, potentially offsetting open pit pre-stripping costs.
Assays from 15 of the 28 holes drilled have now come back, it added, with the best of the grades seeing 23.73 metres (m) at 2.63% copper from a depth of 85m in hole LUDD013.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has said the results of its 2022 Sava project exploration in Greenland suggest a potentially large iron oxide, copper gold (IOCG) mineral system, in line with the company's initial 2021 assessment of the area.
The company noted that surface exploration was conducted across three target areas within the Sava licence, including the drilling of two scout drillholes, to inform target generation and provide further geological information on the area and produced high-quality samples with copper, gold, silver and molybdenum mineralisation.
ECR Minerals PLC (AIM:ECR) has said it will pay A$60,000 in cash and A$60,000 in shares to GoldOz PL for fees owed to them as adviser in connection with the recently announced option agreement and potential acquisition of Placer Gold Pty Ltd.
ECR will issue about 3.27mln shares at 1.03p.
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it has completed a reverse circulation drilling programme at its Elizabeth Hill silver project and Munni Munni platinum group elements (PGE) project in the Pilbara, Western Australia.
The AIM-traded company said the sulphides observed in drill holes confirmed the continuation of mineralising structures, while initial portable X-ray fluorescence (pXRF) results indicate above background concentrations of both base metals and silver.
Empire Metals Ltd (AIM:EEE), the AIM-quoted resource exploration and development company, said that exploration activities have now commenced at the Pitfield Copper Project, located in Western Australia.
These field activities will focus on under-explored areas of the Project and generate new exploration data that will add significantly to the company's understanding of the size and nature of this potential Giant copper province, it added.
Zanaga Iron Ore Co Ltd (AIM:ZIOC, OTC:ZNGGF) (ZOIC) said an agreement has been reached with Glencore Projects for the acquisition of its controlling shareholding in the Zanaga Iron Ore Project, located in the Republic of Congo, giving ZOIC a 100% interest in the project.
The agreement will see ZOIC purchase Glencore Projects' 50%-plus one-share interest in Jumelles, an entity which indirectly holds the benefit of the project's mining licence, for a minority shareholding in ZIOC.
Europa Metals Ltd (AIM:EUZ, JSE:EUZ) has announced a US$6mln farm-in agreement for its flagship Toral project and an equity fundraising at a “substantial” premium, pushing its shares up by around 40% in early trade on Wednesday.
Europa Metals said it has entered into a definitive option agreement with Denarius Metals Corp that gives the Canadian junior the right to acquire up to 80% of the Toral lead-zinc-silver project in Spain in two stages, subject to the approval of Europa Metals’ shareholders.
Glencore PLC (LSE:GLEN) said it has agreed to sell its Cobar (CSA) copper mine in New South Wales, Australia for US$1.1bn and an ongoing 1.5% smelter royalty to Metals Acquisition Corp, a New York-listed special purpose acquisition company (SPAC).
The pair amended the timing of the payments compared to original terms announced in March, with the deal now expected to be completed in the first quarter of 2023.
Mkango Resources Ltd (AIM:MKA, TSX-V:MKA, OTC:MKNGF) said HyProMag GmbH has been awarded grants totalling €3.7mln for a new project to develop Germany's first rare earth magnet recycling plant using the hydrogen processing of magnet scrap (HPMS) process.
The total cost of the project, called 'Innovation Centre for Science & Economy Northern Black Forest IZWW', is expected to be €6.1mln, of which approximately 60% will be funded by the grants.
Castillo Copper Ltd (ASX:CCZ, LON:CCZ) has welcomed assays received for the Reefs Tank and Fence Gossan prospects across the central part of the BHA Project’s East Zone to the east of Broken Hill in Far West New South Wales.
All assays returned to date from Reefs Tank, Fence Gossan and Tors Tank highlight that the rare earth element (REE) mineralisation is extensive and shallow.
Jubilee Metals said it has produced the first batch of export-quality cobalt from its Project Roan at the Sable refinery in Zambia.
In addition, the metals group has commissioned direct leaching and refining of copper sulphide material without smelting.
Analysts at Liberum Capital have reiterated a 'buy' rating on Emmerson PLC (AIM:EML, OTC:EMSNF) following news the firm has signed a 10-year ‘take-or-pay’ offtake agreement.
The Memoranda of Understanding (MOUs) with traders Keytrade and Hexagon Group is over 65% of MOP (muriate of potash) and 50% of salt production from Emmerson’s best in-class Khemisset potash project in Morocco.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) is still a “top pick” among senior gold producers of analysts at Canaccord Genuity (TSX:CF, LSE:CF) after the company announced an initial three-million-ounce resource at its Tanda-Iguela project in Côte D’Ivoire.
The firm reiterated a Buy rating and a price target of C$40. Endeavour shares traded 1% higher at $27.42 Tuesday morning.
MetalNRG PLC (LSE:MNRG) chief executive Rolf Gerritsen has said he is “delighted” with the progress on EQTEC PLC (AIM:EQT)’s waste-to-energy plant in Gallina, Italy, following today’s separate update from EQTEC that the plant is on track to begin commercial operations next month.
MetalNRG said the Italia MDC plant will be the first project under its collaboration agreement with EQTEC and will showcase the potential of the joint venture going forward and the role of each party, with MetalNRG taking the role of developer and EQTEC as technology partner and licensor.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) said it has appointed Micon International Limited to produce a NI 43-101-compliant resource estimate for the company's Omagh gold project in Northern Ireland.
"Galantas has completed more than 4,100 metres of drilling during the last year, in our largest exploration program since the 2014 resource estimate,” said Mario Stifano, chief executive of Galantas in a statement.
AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) has released a further set of drill results from five holes at its ongoing programme on the Uis mine in Namibia.
The 50-hole drilling programme, comprising 29 diamond and 21 reverse circulation drill holes, aims to increase the confidence of the existing lithium and tantalum mineral resource estimates over the deposit.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF), the AIM-listed gold, copper and silver producer focused on Azerbaijan, has announced the start of an expansion of its flotation plant, which will be doubled in capacity, and provide additional operational flexibility.
The company said the expansion forms part of an increase in throughput capacity to process ore from new mines in the short and medium term. This will begin with Zafar, which is due to commence production in H2 2023. This will support the company's ambition to become a mid-tier miner producing over 100,000 gold equivalent ounces per annum, it added.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it has appointed Hannam and Partners to seek a buyer for the assets of the company. Condor recently completed a bankable feasibility study on the La India open-pit gold project in Nicaragua.
"Condor Gold has de-risked the La India gold project to a near construction-ready status, with an 18-month construction period from receipt of project financing,” said Mark Child, chief executive of Condor Gold in a statement.
Technology Minerals PLC (LSE:TM1) said early-stage sampling from its Aramo (Asturmet) project in Spain has confirmed high-grade copper, cobalt and nickel mineralisation.
Exploration work included 205 grab samples and lithogeochemical studies within four accessible working levels at the historic Aramo mine in Asturias.
On Tuesday, the first of this week's FTSE 100 trio of water companies, Severn Trent, will update on recent trading.
These results come against a backdrop of a tightening of the regulatory environment for the sector.
Altech Chemicals Ltd (ASX:ATC) is seeking to change its name to Altech Batteries Limited to reflect its pivot into battery storage solutions.
In the company’s recent annual report, managing director Iggy Tan said Altech was “undergoing a transition to be a battery energy company to meet a battery storage future”.
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has hailed as one of the “most significant discoveries made in West Africa over the last decade” a major gold find in Côte d’Ivoire.
It said the Tanda-Iguela property has the potential to become another flagship asset after the company’s geologists compiled a resource estimate for the Assafou target in a super-quick 15 months.
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has agreed the details of the US$320mln costings and finance plan for its Tulu Kapi gold project in Ethiopia with its syndicate lead contractors, investors and lenders.
The plan is currently being processed for final reviews and entry into definitive documentation to be signed as soon as possible, with the expectation to achieve this next month.
Emmerson PLC (AIM:EML, OTC:EMSNF) has signed non-binding memoranda of understanding (MOUs) relating to the offtake of potash and salt to be produced at its Khemisset mine in Morocco.
Two memoranda have been signed.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) has released results from soil sampling at its San Domingo lithium pegmatite project in in Arizona.
The sampling has identified a lithium-bearing trend that may be greater than three kilometres in length.