A decent funding facility on generous terms is normally very helpful to small caps. We saw this with Xtract Resources (XTR) at 1.2p last year.
By Zak Mir
In the same vein, Bezant (BZT), the copper-gold exploration and development company, entered into an unsecured convertible loan funding facility for £1,000,000 with Sanderson Capital Partners Ltd – who also did the Xtract deal. The facility is convertible on fixed conversion terms at increasing prices of 0.19 pence per share, 0.225 pence per share and 0.25 pence per share over three tranches. Bezant can use the Facility, at its discretion, to fund its working capital requirements.
There was no news news from much followed (and loved) Eurasia Mining (EUA), the Russia focused metals company. It noted recent media speculation about a listing of the ordinary share capital of Eurasia on the Moscow Exchange, while retaining its listing on AIM. The company said it has actively explored the potential benefits of a Dual Listing, but no decision has been made yet.
Premier Miton Group (PMI) of which City grandee Gervais Williams is the best known fund manager, said it notes the recent media speculation in relation to River and Mercantile Group PLC and confirms that it has approached the Board of River and Mercantile to explore potentially acquiring the entire issued and to be issued share capital of River and Mercantile through the issue of shares.
Cloudbreak Discovery (CDL), a natural resource project generator, announced the appointment of Shard Capital Partners LLP as its sole Broker to the Company with immediate effect. Novum Securities will remain the Company’s financial adviser.
Capital Metals (CMET), a natural resources company, announced the approval of its Environmental Impact Assessment. The Coast Conservation and Coastal Resources Management Department in Sri Lanka has advised the EIA process is complete and issued a development activity permit to one of CMET’s subsidiary companies in Sri Lanka, Damsila Export (Pvt) Limited which covers the northern half of the Project.
Trident Royalties (TRR), the growth-focused mining royalty and streaming company, noted further updates in relation to the proposed acquisition of Apollo Consolidated Ltd. Ramelius has acquired effective control of Apollo having announced its effective interest in Apollo reached 65.8% as of 22 November 2021. Acceptances include a 19.9% interest held by Gold Road Resources which previously made a competing bid for Apollo. Trident holds a 1.5% NSR gold royalty over Apollo’s flagship Lake Rebecca Gold Project, in Western Australia. The royalty covers the entirety of the Project and its 1.1Moz Mineral Resource.
Kavango Resources (KAV), the exploration company focused on Botswana, announced it has identified 30km strike length of distinct magnetic Proterozoic gabbro within Target Area A of the Kalahari Suture Zone Project, in the vicinity of Hole TA2DD002.
In an update where the key messages do not exactly trip off the tongue, Thor Mining (THR) said that the second hole in the diamond drilling program (21MHDD002) intercepted scheelite, molybdenite and chalcopyrite mineralisation within a magnetite skarn, at the Molyhil tungsten-molybdenum-copper Project in the Northern Territory. 21MHDD002 intercepted over 45m of disseminated scheelite-molybdenite-chalcopyrite mineralisation in a massive magnetite-rich skarn. Drilling confirms that the newly identified magnetic target to the south of the Molyhil deposit is a continuation (possibly offset) of the Molyhil deposit. Based on the success of the second drillhole, a third hole is now underway, designed to target the projection of the 21MHDD002 mineralisation down plunge.
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