Share Talk Weekly Mining Sector News Round-Up, 13th November 2021

A lot happening across the resources small-cap space this week, a new listing yesterday and another to follow this Monday.

Firering Strategic Minerals plan exploration company focusing on the production of lithium and columbite-tantalite in the Ivory Coast listed on AIM on Friday under the ticker FRG. Firering raised £4 million through the issue of over 30 million shares priced at 13p each. The exploration company closed 11% higher at 14.5p on its first day of trading – showing the robust appetite in the London market for critical minerals.

 


 
PYX Resources Limited (NSX: PYX) a producer of premium zircon, published its prospectus and confirmed that it was dual listing date on the London Stock Exchange on Monday 15 November (market cap of c.£358m).   The CEO, Oliver B. Hasler, said, “The LSE Dual Listing could not come at a better time given the lack of global zircon resources, which is leading to increased demand for premium zircon and dramatically higher prices.  Our focus is now on boosting PYX’s output by developing our newly acquired Tisma project to meet huge market demand and lift our global market share.”

Xtract Resources Plc (AIM: XTR) updated to advise that independent laboratory assays have been received from drill hole BRDD-021-011 completed on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

Colin Bird, Executive Chairman said: “We are pleased to report on the assay results for hole BRDD-21-011 – the copper values are consistent with the results for the deposit in general. The intersection of two above-average gold zones high in the system has not been evidenced at Racecourse before, although it is not unusual for the region. It would appear that gold mineralisation occurring above the crown of the porphyry intrusion may add to the overall value of the project.”

Power Metal Resources PLC (AIM: POW) announced results from its recently completed 2021 diamond drilling exploration programme on the Silver Peak Project (“Silver Peak” or the “Project”) located in British Columbia, Canada.

The company also announced a uranium exploration portfolio expansion at its 100% owned interests surrounding the Athabasca Basin in northern Saskatchewan, Canada. Athabasca Basin Property Holdings Expanded Significantly to 41,196 – Hectares (54.2% Increase in Total Athabasca Portfolio Land Holdings)

Greatland Gold plc (AIM: GGP) announces its financial results for the year ended 30 June 2021. A Review of key developments by project, Chairman’s Statement, Exploration portfolio, Corporate, Looking ahead.

Alien Metals Ltd (AIM: UFO) advise that further to its announcement of 24 August 2021, its Phase 3 drilling programme at the Company’s Hancock Iron Ore project, part of its Hamersley Iron Ore Project, Western Australia, is soon to commence. Drilling recommences at Hancock Iron Ore Project to increase resource

Emmerson plc (LSE:EML) announced that it had secured a strategic investment of up to US$46.75 million from a group of investors to support the development of its Khemisset Potash Project. The primary investor is Global Sustainable Minerals Pte Ltd, a Singapore domiciled investment vehicle backed by a significant south-east Asian investor. The investment is structured in two tranches: an immediate direct equity investment of US$6.75m at 6p per share and a subscription for up to US$40m of convertible loan notes. The equity injection allows Emmerson to accelerate pre-construction activities at Khemisset and move into the execution phase on Project Financing discussions for debt to support project development, with the aim to close in the middle of 2022.  It will now commence basic design and engineering ahead of full construction during 2022.

Mkango Resources Ltd. (AIM/TSX-V: MKA) announced that the Government of Malawi has renewed the Thambani uranium, tantalum and niobium exploration licence and issued four retention licences RTL0015/16/17/18/21 granted for five years from 20th October 2021 to 19th October 2026, covering a total of 98.4 square km.

With the recent significant increase in international uranium prices, Mkango is currently reviewing strategic exploration and development options, including opportunities for joint ventures and other potential avenues to create further project value.

Kodal Minerals plc (AIM: KOD) announced that it has been granted a Mining Licence for its flagship Bougouni Lithium Project in Mali, which would make it one of the first of its kind in Africa. The Project is now fully permitted for development with the previous approval of the Environmental and Social Impact Assessment in November 2019. The license is valid for an initial 12-year term and renewable in ten-year blocks until all resources have been mined. As a next step, Kodal has commenced a programme of work to update the Feasibility Study announced in January 2020 ahead of securing funding for mine development and construction.

BlueRock Diamonds (AIM: BRD) provided an update with regards to its transformational 1Mtpa expansion project saying that it had successfully operated all key areas of the upgraded plant at design capacity on a short-cycle basis during the hot commissioning phase and was positioned to meet FY21 guidance target of 22,000 to 26,000 carats having produced 19,362 carats as at 3 November 2021.

Panther Metals PLC (LSE: PALM)  announced the findings of the geochemical soil sampling programme undertaken on the Dotted Lake property in Ontario, Canada.

Darren Hazelwood, Chief Executive Officer, commented: “Following a comprehensive analysis of the Dotted Lake soil assay data which followed on from the geochemical sampling programme undertaken this summer, we have succeeded in delineating a 1.3km long shear-related gold anomaly which trends westward from the 18.9g/t Au sample Panther obtained from a historical trench and westward from the site of Panther’s Dotted Lake drill hole.

Ferro-Alloy Resources Limited (LSE: FAR) made its first commercial sale of Ferro molybdenum and completed testing of the production of ferrovanadium. They are now recovering around 4.5 tonnes per month of Ferro molybdenum as a by-product from its recovery of vanadium from bought-in concentrates and this is expected to grow as the throughput of the plant increases.

Power Metal Resources PLC (LON: POW)  draws investors’ attention to the announcement issued by Katoro Gold plc (LON: KAT)(“Katoro Gold”)(“Katoro”).

Paul Johnson, Chief Executive Officer of Power Metal Resources plc commented:

“Power Metal is eager to see drilling commence at the Haneti Project targeting a large scale nickel and platinum group element (PGE) discovery. The Company is therefore pleased to see our partner Katoro Gold raise money for this purpose.

We look forward to further announcements with regard to the planned drill programme and are working with Katoro in this regard.”

GreenRoc Mining plc (AIM: GROC) has provided results from the field programme at the Kalaaq Deposit, part of the Amitsoq Graphite Project in Greenland, undertaken between July and August 2021. Substantial zones of mineralisation have been confirmed and extended at the Kalaaq Deposit, located on the Greenlandic mainland and due south of the Company’s 100% owned Amitsoq Graphite Project, one of the highest-grade graphite projects globally. New zones of mineralisation have been discovered, and there is greater confidence in the continuity of the previously identified zones.

Thor Mining Plc (AIM, ASX: THR, OTCQB: THORF) announce that diamond drilling has commenced at the Molyhil tungsten-molybdenum Project, in the Northern Territory.

Nicole Galloway Warland, Managing Director of Thor Mining, commented:

“We are excited to be starting this exploration drilling at our Molyhil Project in the Northern Territory, where we are testing a newly identified, large magnetic target adjacent to the known tungsten-molybdenum-copper mineralisation. The Molyhil resource is highly magnetic (high percentage of magnetite) and this newly identified target is interpreted to be an offset of this mineralisation.

The depth to a target of only 270m from surface and the location underneath the current pit design has the potential to be a game-changer for the Project.”

Tirupati Graphite plc (LSE: TGR) noted an announcement by ASX listed Battery Minerals regarding the granting of the Mining Licence for the Balama Central Graphite Project for production of 50,000tpa of graphite concentrate; Tirupati is acquiring this project as well as a second advanced project also in Mozambique as it advances on its journey to becoming a material supplier to the high growth EV and battery markets and playing a part in the global energy transition.


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