There was yet more deal flow from Oracle Power (ORCP), the international natural resources project developer, as its joint venture company has signed a non-binding MoU with Blue Carbon LLC to collaborate on a decarbonization roadmap to complement Oracle Energy’s green hydrogen project in Pakistan.
Sovereign Metals (SVML) reported further significant results for 61 AC holes from the Kasiya Rutile Project, the world’s largest rutile deposit. The company said the results confirm that rutile and graphite mineralisation is continuous from surface down to the top of saprock generally at 20-25m vertical depth in key mineralised areas. Results highlight the potential for the mining pits to be extended at depth.
Tlou Energy (TLOU) delivered an Operational Report for the Quarter ended 30 September 2022. The company said its Transmission line construction is progressing. The Lesedi 4 production well continues to produce gas and the Lesedi 3 well has been shut in. Tlou’s cash position was of ~A$5.9m (unaudited) at the end of the quarter.
Thor Mining (THOR) provided an exploration update for the Ragged Range Project, located in the eastern Pilbara, Western Australia. The company said that the 2,000m drilling program at the Kelly’s Prospect, Ragged Range is now complete. The program was designed to follow up on prospective rock chip samples, including a high-grade, historic drill intercept.
Bidstack Group (BIDS), the in-game brand activation platform, shared an update on its strategy for the accelerated growth of the business. The company said that increased focus on the US market is starting to create traction and its team is continuing to grow. The recruitment campaign focused on recruiting US-based sales, gaming and marketing professionals with significant experience in gaming, digital advertising and with local market knowledge is continuing.
Condor Gold (CNR) announced the filing of a Feasibility Study Technical Report, on the La India open pit, which forms part of the larger La India Project, Nicaragua on SEDAR. The company said the 2022 FS demonstrates a robust and economically viable base case for the La India open pit: a probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz. Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life.
Novacyt (NCYT), a clinical diagnostics group, announced that the Company’s genesig® Real-Time PCR SARS-CoV-2 Winterplex® 3G assay panel has been approved in the UK making it the Company’s sixth PCR test to be added to the CTDA register of approved COVID-19 diagnostic products.
Pensana (PRE) published an Operational Update on Saltend and Longonjo. The company said the following the recent ground breaking ceremony it has moved out of the study phase and into the construction phase for both projects.
Bens Creek (BEN), the owner of a metallurgical coal mine in North America announced that following the recent permit approval announced on 22 September 2022, it can confirm that the creation of the required bench to support and position the highwall miner is now complete and the highwall miner has been moved into position on the new permitted area. The company can also confirm the commencement of mining on the new permitted area.
Blencowe Resources (BRES) announced a strategic Investment by AIM-Listed Jangada Mines (JAN) and two existing major shareholders. The placing at 4p raised a total of £750,000 from three existing shareholders and will be used to fund the delivery of a 100 tonne bulk sample from Orom-Cross to China and general working capital.
Current M&A situation Shanta Gold (SHG), the East Africa-focused gold producer, announced its production and operational results for the quarter ended 30 September 2022. The company said production was up 11% on the previous quarter. In addition to this, drilling at West Kenya and construction work at Singida are both progressing well, and it remains on track for first gold pour at Singida in March 2023.
Critical Metals (CRTM), a mining company in the critical and strategic metals sector, provided an update in relation to the Molulu copper/cobalt project. The company said these are exciting times for Critical Metals as it prepares the ground and awaits the arrival of key camp equipment, expected in the coming weeks.
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