Share Talk Weekly Mining Sector News – 4th September 2021

It’s been another busy week across London’s junior mining sector.

Eurasia Mining PLC (EUA.L) Monchetundra DFS progress closer to defining the mineral content, geochem successfully completed + drill cores audited (RNS 1/09/21)

Christian Schaffalitzky, Executive Chairman of Eurasia commented: 1st September 2021 ” The Directors are delighted that our hard work on Kola that started as a joint venture with Anglo American Platinum in 2005 and is finishing as a joint venture with Rosgeo, a much stronger partner for doing business in Russia, is coming to a successful conclusion with DFS, JORC reserves as well as the EPCF (engineering, procurement, construction and finance) contract already signed. The Board is committed to execute on the strategy as announced on 12 May 2021″.


The company notes the movement in the Company’s share price yesterday and notes that the share price remains below the 26.5p price at which the $20m private placement, assisted by H.C. Wainwright, with US professional institutional investors, was completed on 26 May 2021 and would like to announce the following summary

Thor Mining PLC (THR.ASX.L) Alford East Drilling Results, the company announced significant copper and gold intercepts from the recently completed initial diamond drilling program at the Alford East Copper-Gold Project, SA.

Mick Billing, Executive Chairman has tendered his resignation, Nicole Galloway Warland, Managing Director of Thor Mining, commented: “Mick Billing has been very influential in the strategic direction of Thor Mining over a period of more than 13 years with the Company, and we have greatly appreciated his significant contribution. We wish Mick well in his retirement from the Board and his pursuit of his personal and business interests.”

Wishbone Gold PLC (WSBN.L) Cottesloe Project Update – 7 Targets identified. Lease extended for 5 years, Patersons Range, Western Australia

ECR Minerals plc (ECR.L), Announced that its 100% owned Australian subsidiary, Mercator Gold Holdings Pty Ltd (“MGA”), has purchased a property at 35 Brewing Lane, Springmount, Australia (the “Property”), subject only to the payment of the completion monies. The Property is located within the Company’s existing 100% owned Creswick license area.

Craig Brown, Chief Executive Officer commented: “I remain enthused by the pace of developments at Creswick, Bailieston and our other assets, and look forward to receiving the remaining assay results at Creswick and reporting on progress.”

BlueRock Diamonds PLC (BRD.L) has sold three gem-quality stones from the Kareevlei Mine in Kimberley South Africa for a total of US$1.1mln, including the largest, a 58.6-carat gem, for US$585,000.

Bert Monro CEO of Cora Gold Limited (CORA.L) Written Interview with Karl West

Caracal Gold plc (GCAT.L) First Day of Dealings; (‘Readmission’) with a contemporaneous dual listing on the Frankfurt Stock Exchange (WKN: A2AM01 and Ticker: FSE: 6IK). As part of the Readmission process, the Company has raised gross proceeds of approximately £5,493,885 through the issue of 638,951,276 Placing Shares completed in two rounds at a placing price of £0.01 per share, implying a market capitalisation of circa £14.5 million on Readmission.

Scotgold Resources Limited (SGZ.L) announced that monthly production revenues exceeded operating expenses for the first time ever in its history. In an operational update for August, the gold exploration and production company said it completed two gold concentrate shipments with revenues exceeding operating costs.

Zak Mir talks to Philip Day, CEO of Scotgold Resources, in the wake of an update on mine production and processing performance at the Cononish Gold and Silver Project in Scotland.

Oracle Power PLC (ORCP.L) announced that further, highly positive geochemical sampling results have defined five drill target areas at its 100% owned Jundee East Gold Project, located in the Eastern Goldfields region of Western Australia (“Jundee East” or the “Project”), which is located ~7km due east of Northern Star’s Jundee Gold Mine

The Board of Xtract Resources Plc (XTR.L) reported progress on angled holes BRDD-21-013 and 014 of the Phase Two diamond drilling programme at the Bushranger copper-gold porphyry exploration project in New South Wales.

Colin Bird, Executive Chairman said: “These most recent holes help to confirm our prognosis for a large open pit in that hole BRDD-21-013 intersected the first copper mineralisation quite near-surface, extending over a substantial interval of more than 300m. Recently received magnetic survey results suggest that the hole was on the margin of a new system and as such we are excited about the further potential. These two holes will be modelled and the continuing Phase 2 drilling programme will focus on open-pit extensions and further testing of this newly emerging zone.”

IronRidge Resources Ltd, (IRR.L), has concluded a transaction with Piedmont Lithium Inc. (“Piedmont”), have now been satisfied to fully fund and fast track the Company’s Ewoyaa Lithium Project (“Ewoyaa” or “the Project”) through to production in Ghana.

Metal Tiger PLC (MTR.L) reported a 35% rise in its net asset value over the six months ending June 2021. It is a natural resource investor. The company said that it is “very optimistic” about its future.

Conroy Gold & Natural Reso (CGNR.L) Update on proposed joint venture partnership. The company announced that the definitive agreements for the proposed Joint Venture with Demir Export A.S. (“Demir Export”), on an earn-in basis, over the licences held by Conroy Gold along its 65km district-scale gold trend in the Longford-Down Massif in Ireland have reached an advanced stage.

On completion of documentation, an EGM will be held to seek shareholder approval. As agreed by Conroy Gold and Demir Export the terms of the Letter of Intent form the basis for the definitive agreements and the two parties continue to progress the Joint Venture

Ariana Resources PLC (AAU.L) The joint venture of the Kiziltepe Mine in Turkey has begun automation testing for its expanded process plant.

First Equity Limited Research Note on Red Rock Resources (RRR.L)

Power Metal (POW.L) Strategic Option Agreement – Pilot Mountain Nevada, POW take over Thor Mining PLC’s stake at Pilot Mountain tungsten Project in Nevada, and give it complete control. Power Metal and Wholly Owned Subsidiary Golden Metal Resources Ltd Signs Option Agreement to Acquire Pilot Mountain Project in Nevada, USA.

Greatland Gold PLC (GGP.L) Drilling Campaign Results at Juri Joint Venture. Preliminary results from initial four drill holes with first gold identified at Goliath in the Paterson province of Western Australia. Results have been received for the first four holes sampled from the nine drill holes completed.

Alba Mineral Resources plc (ALBA.L) of its Greenlandic mining assets into a separate AIM-quoted vehicle, the Company announced the release today by AIM of a Schedule One announcement in respect of GreenRoc Mining Plc (“GreenRoc”), a link to which is provided here Schedule One – GreenRoc Mining Plc – 08:00:03 03 Sep 2021 – News article | London Stock Exchange.

Trident Royalties PLC (TRR.L) has entered into a binding contract with Seduli Sutter Operations Corporation in order to obtain a net smelter royalty over the production from the Lincoln Gold Mine in California. The price is US$2.5mln in cash.

Armadale Capital PLC (ACP.L) Mining Licence Approved for Mahenge Liandu Graphite Project. Receipt of the 10-year Mining Licence for the Mahenge Liandu graphite project is one of the final and most important de-risking milestones for the Company and allows us to push forward towards construction of our planned initial Stage 1 60,000 tonne per annum capacity for the project – an initiative which will bring significant benefits to stakeholders, both local communities and plc level investors.

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