Share Talk Weekly Mining Sector News Round-Up, 12th December 2021

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

Pathfinder Minerals (AIM: PFP) Update re Bilateral Investment Treaty Claim. Update on its dispute concerning mining concession 4623C (the “Licence”). The Company has significantly advanced its preparation to refer the dispute to the International Centre for Settlement of Investment Disputes (“ICSID”) under the Mozambique – United Kingdom Bilateral Investment Treaty (2004).

Ariana Resources PLC, (AIM: AAU) stated that the initial investment in its Asgard Metals Fund has been completed.

This fund will evaluate potential investments in mineral exploration companies at discovery stage. It is part of the proprietary Project Catalyst strategy by the mineral exploration and developmental company.

Panther Metals PLC (AIM: PALM) Panther ASX Listing and Directorate Change. Announce the successful listing of Panther Metals Limited (ASX: PNT) on the Australian Securities Exchange (“ASX”). The Canada-focused explorer retains a 36.6% stake in Panther Metals Ltd.

Darren Hazelwood, Chief Executive Officer, commented:

“The ASX listing of Panther Metals Ltd provides the experienced management the necessary capital to drive forward the highly prospective Australian exploration projects put together by Panther Metals plc, without any further financial obligations to the Company.

Xtract Resources Plc (AIM: XTR) reported the discovery of a new copper mineralised porphyry system on the Bushranger copper-gold exploration project.

The discovery has been made by drilling an Induced Polarisation (“IP”) geophysical anomaly undertaken as part of the ongoing Phase 2 diamond drilling programme.

Wishbone Gold PLC (AIM: WSBN) Drilling Underway at Red Setter Patersons Range, Western Australia.

Richard Poulden, Wishbone Gold’s Chairman, commented, “We are very pleased that drilling has finally started at Red Setter.”

Tirupati Graphite plc (AIM: TGR.) Declared the start of commercial production from its greenfield Vatomina Project in Madagascar with effect from 6 December 2021. As such, the Vatomina plant’s commissioning process is complete, with the facilities now stabilised to facilitate continuous, round-the-clock operations.

This marks the end of the commissioning process at Vatomina and confirms that the facilities can now be operated continuously round the clock with the ability to produce 9,000 tonnes per year of flake graphite.

Power Metal (AIM: POW.) Golden Metal Resources – Pre-IPO Financing. The London listed exploration company seeking large-scale metal discoveries across its global project portfolio, announces its wholly-owned subsidiary Golden Metal Resources Limited (“Golden Metal” or “GMT”) has completed its £750,000 Pre-IPO financing (“Financing”).

Golden Metal is a Nevada, USA, focused exploration and development company and is undertaking a planned listing on the London capital markets in 2022.

Alien Metals Ltd (AIM: UFO) advise that as part of its development of the Elizabeth Hill Silver Project it has commenced work to re-open the historic underground mine. Alien has purchased mining headframe, machinery and equipment to re-open and access the historic Elizabeth Hill silver mine after over 20 years of the mine lying dormant.

The previous owner produced over 1m oz silver with exceptional grades of 2,195 g/t (70/oz t). Elizabeth Hill is the only pure silver mine in Western Australia set to re-open.

Horizonte Minerals PLC (AIM: HZM) has agreed to purchase some new and unused ferronickel processing equipment originally commissioned in Brazil by Votorantim SA for its Araguaia ferronickel plant.

The processing equipment is comprised of the main components of a traditional rotary kiln-electric furnace plant (RKEF), but the furnace is not included. It can be found in Brazil.

Cornish Lithium Ltd announced it had received shareholder approval for an investment package up to £18mln by TechMet Limited. Shareholders holding more than 89% of the company’s issued share capital voted in favor of the transaction.

It stated that the company received the £9mln initial tranche of the investment package. This means that the company’s current cash balance is currently at £12mln.

Greatland Gold PLC (AIM: GGP) Havieron Exploration and Development Update. All drill programmes now focused on growth including commencing testing of new additional geophysical targets 2km outside of the Havieron system (Havieron North and Zipa)

The latest campaign saw 24 holes intersect mineralisation, with 19 of them reporting significant mineralisation. The top results were 113.8 meters (m), at 3.4 grams per tonne of gold and 0.1% copper, respectively from an infill hole.

Potential for a significant upgrade of the Inferred Mineral Resource to an Indicated Mineral Resource with results including 113.8m @ 3.4g/t Au & 0.1% Cu from 996.2m (HAD150W2)

Growth Drilling over 250m below the extent of the Mineral Resource continues to return high-grade result

Panthera Resources Plc (AIM: PAT) announced that drilling has been completed at the Kalaka Project in Mali and the rig has now commenced drilling a 9,000 metres AC programme at the Bassala Project in Mali.

Commenting on the announcement, Mark Bolton, Managing Director of Panthera said:

“The combination of shallow AC drilling targeting chargeability anomalies continues to be an excellent targeting tool at our West African projects, with strong alteration intersected at all targets tested by the recent Kalaka programme. Assay results are eagerly awaited and should be available later in December 2021.

Drilling has now re-commenced at the Bassala project, where ore grade intersections were returned from the previous drilling programme in July 2021. We are now testing the remaining targets that include the most intense artisanal workings in the project area as well as testing extensions to the more significant drilling results from earlier in the year.”

Thor Mining Plc (AIM, ASX: THR) advise that a tracer test and in-situ lixiviant trials have commenced at the Kapunda Copper ISR Project in South Australia.

EnviroCopper Ltd (“EnviroCopper” or “ECL”), in which Thor holds a 30% equity interest, has completed the installation of test well arrays and has commenced in-situ recovery trials (“ISR”), including tracer and push pull test work. These tests are the final hydrometallurgical assessments before ECL commences Site Environmental Lixiviant Trials (SELT).

Caracal Gold plc (LON: GCAT) announced that it has signed formal agreements to acquire a 100% interest in the advanced Nyakafuru Gold Project and secure a 75% interest in the Simba Gold Project, both located in the world-class Lake Victoria Gold Fields in Tanzania.

Caracal Gold plc announced that it has signed formal agreements to acquire a 100% interest in the advanced Nyakafuru Gold Project and secure a 75% interest in the Simba Gold Project, both located in the world-class Lake Victoria Gold Fields in Tanzania.

Share Talk took the opportunity to speak with the commercial director, Jason Brewer about today update and how this changes the dynamics of the company moving forward into 2022.


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