The gold prices are appearing to be edging closer to the US$2000/oz mark, with the FTSE also up 0.4% this week.
We have an exciting exclusive for Mkango Resources shareholders, an excerpt from a speech given this week by the Malawian State President His Excellency Lazarus Chakwera to the Malawi House of Parliament prior to the announcement of the 2022/2023 budget.
He mentions that the Government of Malawi are finalising the Mining Development agreement negotiations with Mkango Resources and says that his government has already committed to providing power/ energy to the Songwe Hill Rare Earth project and have already completed upgrading a mine road to the project.
We thought this would be exciting for investors to hear, as they may have missed it in the Malawian Press and Social Media.
Ariana Resources PLC (AIM: AAU) Dividend Payments Date Scheduled was announced that the second tranche of the Company’s Special Dividend, of 0.175 pence per ordinary share, will be paid on 25 March 2022. Mineral explorer and developer said, the second tranche of 0.125p per share, will be paid on March 25, with the ex-dividend date set for 3 March 2022.
Katoro Gold PLC (AIM: KAT) announced the successful completion of the diamond drill programme at the Haneti Nickel Project in Tanzania, with a total of 900.04 metres completed across three drill holes, as planned. Core logging and sampling are now underway, with samples being prepared for thin-section petrographic analysis and laboratory assay testing.
Bens Creek Group plc (AIM: BEN) announced that on 17 February 2022 it agreed to issue a second convertible loan note to raise an additional US$6.0 million for the Company. The Second CLN is being issued to ACAM LP. The terms of the convertible note (CLN), are similar to the first convertible note issued by the company in December 2021. Other than the conversion price of 40p per new ordinary shares and the lower rate of interest of 12% a years, the rates of interest have been reduced to 12% from 15%.
Cora Gold Limited (AIM: CORA) announced that it is due to commence a new 2022 drill programme at its flagship Sanankoro Gold Project in Southern Mali. ~7,500m of reverse circulation drilling will get underway in March to build on the current Mineral Resource Estimate of 21.9 million tonnes at 1.15g/t Au for a total of 809.3 koz Au. The company aims to convert existing resources from Inferred to Indicated and also target the discovery of new Inferred resources. “The Project’s potential as an open-pittable, free-digging oxide mine has been established and through this drill programme and the Definitive Feasibility Study, which remains on track to be delivered in H1 2022, we are committed to building on existing resources and creating additional value for the Company,” said Bert Monro, CEO of Cora
Ariana Resources plc (AIM: AAU) stated that recent drilling results obtained from the Klirou Sector of the Magellan Project which is 100% owned by Venus Minerals Ltd . Venus is focused on the exploration and development of copper and gold assets in Cyprus and is 50% owned by Ariana.
Kodal Minerals (AIM: KOD) provided an update on its Bougouni Lithium Project and the Fatou Gold Project in Mali, following CEO Bernard Aylward’s recent trip to the West African nation. For Bougouni, Kodal’s technical team completed site visits in January in preparation for development activity. Meanwhile, the Fatou Gold Project initial RC drilling programme, which consisted of 11 RC drill holes for 1,242m has now been completed with final assay results indicating multiple zones of gold mineralisation with broad intersections and grade up to 7.09g/t gold.
Panthera Resources Plc (AIM: PAT) announced that 5m composite assays have now been received and compiled from all of the Stage 2 Aircore drilling programme at the Bassala Project in Mali said the AIM-traded company. The AIM-traded company stated that all targets tested in the Stage 2 Aircore drilling program (AC) returned more than 100 parts for every billion gold from composite samples of 5 m.
Anglesey Mining PLC (LSE: AYM) Jo Battershill, the chief executive told investors that the company is making great progress at its Parys Mountain site. Parys is being developed by the minerals exploration and development team. It is a copper, zinc and lead, gold, and silver deposit at its site in North Wales.
Greatland Gold (AIM: GGP) stated that a Newcrest Mining Ltd announcement regarding resources and reserves of the Havieron copper-gold joint project used 5 Feb 2021 as the cut-off date to drill information. These figures were previously released. Newcrest released a statement on ASX that reaffirmed the figures in the Stage 1 South East Crescent prefeasibility study. (PFS), which was announced last October.
Mila Resources plc (LSE: MILA) has commenced drilling at its Kathleen Valley Gold Project in Western Australia to build on the success of its 2021 drill programme, which confirmed consistent, high-grade mineralisation, including a 10m wide zone of mineralisation with multiple +10g/t Au & Ag grades. Check out the company’s social media channels for the latest photos from the site.
Power Metal Resources PLC (AIM: POW) highlighted ‘major progress’ in Nevada where its majority-owned subsidiary Golden Metal Resources is continuing exploration efforts. Golden Metal Resources, which is seeking a spin-out and IPO in London later this year, is exploring the Pilot Mountain, Golconda Summit, Garfield, Stonewall project in Nevada.
Contango Holdings Plc (LSE: CGO) provided an update relating to operations at the 100%-owned Garalo-Ntiela Gold Project in Mali. Results from aero-magnetic studies have yielded multiple high-grade potential target zones and 50% of the ongoing Induced Polarisation survey has been completed to date.
Results from these work programmes, together with historical drill results, will enable the Company to finalise its 2022 drill programme as it looks to firm up the targeted resource of 1.8Moz-2Moz gold. Contango also confirmed that it has received approaches from potential domestic and international investors to support the future development of Garalo-Ntiela.
Pan African Resources PLC (AIM: PAF) reported a higher interim pretax profit, thanks to record gold production. Pretax profit for six months ended December 2001 rose to US$61.6mln, (£45.4mln), from US$60.0mln during the year-earlier period. Revenue rose 5.3% to US$193.6mln due to higher gold sales.
Cobra Resources PLC (LSE: COBR) a South Australian exploration company that is advancing the Wudinna Gold Project, announced it has raised gross proceeds of approximately £945,000 in a placing. It purchased 63mln shares for 1.5 pence each. Part of the funds will be used to fund exploration work this year.
Mila Resource PLC (LSE: MILA) informed investors that it had begun drilling at the Kathleen Valley Gold Project, Western Australia. Initial drilling at the Coffey Deposit revealed consistent and high-grade mineralisation. The accelerator also confirmed that there was a 10-meter-wide zone of mineralisation and high gold-silver grades at the Coffey deposit.
Power Metal Resources PLC, (AIM: POW) was granted all licences at the Selta Rare Earths and Uranium Project in the Northern Territory of Australia. Paul Johnson, Power’s chief executive, stated that Power Metal had acquired the Selta Project to position itself in the highly-promising REE and uranium areas in the Northern Territory of Australia.
Bloomberg reported that Glencore Plc has made a 40 million-pound ($54.2 Million) investment in Britishvolt Ltd. for the development of Britain’s first large-scale electric vehicle battery plant. Series C funding was available to institutional and existing investors led by Bank of America Securities. It was intended to raise funds to expand research and development capabilities and the Northumberland gigaplant site.
Altus Strategies PLC, (AIM: ALS) stated that it found a significant gold area at the Lakanfla Central prospect of the Lakanfla license in western Mali. One drill hole at Lakanfla Central yielded 1.23 grams per tonne (g/t), of gold over 127m (m), from a depth of 21m. This includes 2.53 g/t over 14m.
Orosur Mining Inc. (TSX-V/AIM: OMI) announced that it has signed an Exploration & Joint Venture agreement with private Argentinean company DESEADO DORADO S.A.S and its shareholders in relation to the El Pantano Gold Project in the Province of Santa Cruz, Argentina.
Cornish Metals Inc. (AIM: CUSN) has entered into an agreement with Sir Ferrers Vyvyan in Trelowarren, Cornwall, to lease certain mineral rights that the Vyvyan clan owns. The mineral lease is valid for 25 years and covers an area of approximately 222 hectares. Cornish Metals will be able to mine and explore all of the South Crofty Underground Permission Area mineral rights, as well as explore other areas that are adjacent to the South Crofty property.
Castillo Copper Ltd (ASX: CCZ, LSE: CCZ) discovered four areas of cobalt mineralisation within the East Zone Of The Broken Hill Alliance (BHA). This project is a combination of two tenures that are adjacent to Broken Hill. It includes legacy coding and analysis from 6,182 historical drill cores. The coding of the JORC mineral resource estimate is now 70% complete. It will be based on cobalt mineralisation and potential base metal credits.
Eurasia Mining Plc (LON: EUA) announced that Eurasia has incorporated a 100% beneficially owned subsidiary, Kola Mining LLC to carve out Eurasia’s PGM assets into a separate entity from the nickel assets being consolidated into the already incorporated Kola Nickel LLC as announced via RNS on 14 January 2022.
Christian Schaffalitzky, Executive Chairman of Eurasia commented: ” The Directors are pleased that our structuring is approaching completion, as we work hard with DLA Piper and our other legal advisers. As announced on 8 February, we are making good progress despite the current geopolitical context and a separate announcement will be provided. Contrary to speculations, the Directors and the Officers of Eurasia have not sold any shares and, as the largest shareholder group, are focused on the liquidity event along with all shareholders “.
Power Metal Resources PLC, (AIM: POW) has completed its most recent round of drilling at Haneti in Tanzania. The Company confirms the drill programme has been completed successfully with a total of 900.04 metres completed across three drill holes as planned. Core logging and sampling are underway, with samples being prepared for thin-section petrographic analysis and laboratory assay testing (for nickel, copper, platinum, palladium, cobalt, chromium and gold) at SGS Tanzania.
Caracal Gold plc (LSE: GCAT) the gold producer with operations in East Africa, confirmed that it has raised £2 million before expenses via a placing. “This raising has attracted major shareholders at a premium, and long-term strategic shareholders to our Company, and is further proof of the allure of Caracal’s unique offering as an emerging gold producer in East Africa to the investor community,” said Robbie McCrae, chief executive of Caracal Gold.
The proceeds will be used to finance the accelerated development of its Kilimapesa Gold mining and processing operation in Kenya. The East African-focused gold producer issued 177mln shares at 1.12 pence each. This is slightly higher than Friday’s closing share price, 1.10 pence
