RNS Hotlist with Zak Mir: XTR, TGR, RMM, EEE, AAU, JLP, GRL & ECR via Vox Markets

Xtract Resources (XTR) reported on three further holes completed as part of the ongoing Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

By Zak Mir

The company said the results continue to expand the Racecourse deposit, indicating continuity both in thickness and along strike towards the south. The drilling programme is confirming the outline of the conceptual pit and demonstrates continuity beyond the pit limits. The deposit appears to be closing off at the northwest end, while the southeastern end demonstrates further extensions in strike and deposit thickness.

Tirupati Graphite (TGR), the specialist graphite and graphene company, announced its Interim Results for the six months ended 30 September 2021. The company said it has continued the strong progress made since its IPO in December last year investing in and establishing new capacities for increased production from our low cost, high margin flake graphite operations in Madagascar, furthering the proof of concept established with the 3,000 tpa upstream operations and 1,200 tpa expandable graphite operations established prior to IPO.

Rambler Metals and Mining (RMM), a copper and gold producer, explorer and developer, said that it and NewGen Resource Lending Inc. have mutually agreed to amend the third tranche of the Loan Note from $7.8 million to a higher total of $8.0 million comprising US$3.0 million debt plus $5.0 million in equity.

Empire Metals (EEE), the AIM-quoted resource exploration and development company, announced that the second phase of Reverse Circulation drilling has commenced at the Central Menzies Gold Project in Western Australia, over which Empire holds an option to acquire a 75% interest. The company said the results from the September drilling programme indicated the potential of a discovery at the Central Menzies Project, with a significant gold anomaly identified along a 500m strike length at Nugget Patch.

Ariana Resources (AAU), the AIM-listed mineral exploration and development company, announced the results of a review of the Mineral Resource Estimate for the Kokkinoyia Sector of the Magellan Project. Ariana said that not only has the overall tonnage increased by 240% but it has now successfully brought a significant part of the resources into the higher confidence Indicated category.

Jubilee (JLP), the metals processing company is pleased to announce its audited results for the year ended 30 June 2021. Total revenue for the year increased by a strong 143% to £ 133 million (2020: £ 54.8 million. The company said it had delivered an exceptional performance during this financial year, achieving growth in all of its core business units; PGMs and Chrome and also generating maiden earnings from its new Zambian Copper portfolio. During this period, Jubilee in addition executed a number of targeted transactions and investments valuing £20 million, offering the opportunity for further growth.

GoldStone Resources (GRL), announced that the Ghanaian Ministry of Lands and Natural Resources has approved the Company’s permit application from its mining operation on the Homase Mine in the Ashanti Gold Belt, Ghana. The Licence is valid for one year.

ECR Minerals (ECR), the gold exploration and development company focused on Australia, said that its 25% shareholding in Philippines based company Cordillera Tiger Gold Resources, Inc. has been formalised and the Company is now in receipt of the share certificate.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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