Share Talk Weekly Mining Sector News Round-Up, 21st November 2021

This week Share Talk presents a live Q&A webinar with Paul Johnson – CEO Power Metal Resources (AIM: POW) 23rd November 2021 at 8 pm (GMT) along with Zak Mir hosting the questions.

This is your chance to ask a question live during the event, Power Metal Resources plc (LON: POW) is an AIM-listed metals exploration company that finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district-scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Xtract Resources Plc (AIM: XTR) report on independent laboratory assays for drill hole BRDD-021-016 and two further holes completed on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

Drill hole BRDD-21-016 has returned promising intersections of copper and gold mineralisation near the southern limits of the currently estimated Racecourse Inferred Mineral Resource

Panthera Resources Plc (AIM: PAT) announced that drilling has commenced at the Kalaka Project in Mali for a planned 2,500-metre air-core (AC) drilling programme. Kalaka is held by our associated company, Moydow Holdings Ltd.

Commenting on the announcement, Mark Bolton, Managing Director of Panthera said: Significant low-grade gold mineralisation has previously been identified at the Kalaka Project, with drill intercepts of 249.3m @ 0.54g/t Au from 52m (to end of hole) including 8m @ 3.17g/t Au from 107m at the K1A prospect.

Power Metal Resources plc (AIM: POW) announces it has signed an Agreement (“Agreement”) for the 100% acquisition (the “Acquisition”) of the Selta Project (“Selta” or the “Project”), located in the Northern Territory, Australia.

The Acquisition will be undertaken by Power Metal subsidiary, First Development Resources Limited (“FDR”), in an all FDR share transaction to acquire a 100% interest in URE Metals Pty Limited (“URE”), a private Australian company which wholly owns the Selta Project.

FDR is a special purpose company set up by Power Metal to act as a vehicle for a planned listing on the London capital markets; with a unique and high-impact portfolio of exploration interests.

Glencore PLC, LSE: GLEN) has sold its interest in Ernest Henry Mining Pty Ltd (Owner of the Ernest Henry Mining (EHM), a copper-gold mine in Queensland) to Evolution Mining for A$1bn. (PS0.5bn). Chief executive Gary Nagle stated that Glencore will keep its commitment to North-West Queensland with the Mount Isa copper and zinc complex and copper smelter, as well as Townsville’s copper refinery and copper smelter.

Wishbone Gold PLC (AIM: WSBN) Drilling Preparations Underway at Red Setter and independent consultants have reported that the geochemistry programme recently conducted, although only 60% completed to date, has defined 4 new high priority target zones for follow up drilling.

The Red Setter Project is situated on the 57.4km 2 wholly-owned Exploration Licence EL45/5297 and is located 13 km south-west of Newcrest Mining’s Telfer Gold-Copper Mine and 60 km west of Newcrest and Greatland Gold’s Havieron discovery in the Paterson Range of Western Australia

TPI provides its latest research note on Cora Gold Limited (AIM: CORA)

Kavango Resources (LON: KAV) announced that it had successfully drilled hole KSZDD001. It said it was the deepest borehole in the “Great Red Spot”, a magnetic anomaly located on the Kalahari Suture zone (KSZ), Project. From 951m to the hole’s end at 1,000m, copper sulphide mineralisation was found.

Greatland Gold PLC (AIM: GGP) Result of Upsized Fundraise: Following strong demand in the bookbuild, the total gross proceeds from the Fundraise has increased from the minimum amount of approximately US$10 million to approximately US$16 million (£11.9 million).

A total of 82,000,000 Placing Shares, Subscription Shares and Retail Shares have been placed at an Issue Price of 14.5p per New Ordinary Share. The Issue Price represents a discount of approximately 10.5 per cent to the closing mid-market share price of the Company’s ordinary shares on 17 November 2021.

IronRidge Resources Ltd. (AIM: IRR) landed an exploration license for Cape Coast, which is part of the company’s potential lithium portfolio in Ghana. Cape Coast covers 139.23 km of “highly prospective” lithium tenure.

Alien Metals Ltd. (AIM: UFO) stated that strong nickel, copper, and platinum group elements (PGE), anomalies were discovered in the initial trenching and rock-chip sampling program at Elizabeth Hill Project in Western Australia. The resource-rich Pilbara region hosts the Elizabeth Hill silver mine.

JPMorgan to Pay $60 Million to Resolve Spoofing Lawsuit Concerning Precious Metals

Rambler Metals and Mining plc (AIM: RMM) provided an update to its ongoing 2021 underground infill diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada.

Toby Bradbury, President and CEO, commented: The positive assay results received in the program so far provide confidence in our near-term production outlook, having confirmed the earlier block model based on wider-spaced drilling in the target areas. In addition, the new, high-grade intersections through the recently discovered “Icing Zone” further enlarges the Icing Zone in an area near current underground infrastructure. This has created an opportunity for additional near-term high-grade production.

Thor Mining Plc (AIM, ASX: THR) advise that Thor has fulfilled its Stage 1 expenditure obligations, as agreed in the Agreement, triggered Stage 1 of the earn-in and entitling the Company to increase its interest to 51% interest in the oxide mineral rights from Spencer Metals Pty Ltd (“Spencer”) over the Alford East Copper-Gold Project, South Australia.

AfriTin Mining Ltd. (AIM: ATM) stated that testing has confirmed the possibility to produce separate, saleable lithium and tantalum concentrates at its Uis tinmine in Namibia. This will open up new revenue opportunities. The AIM-listed company has now begun the procurement and design of a pilot lithium beneficiation plant.

Caracal Gold plc (AIM: GCAT) announce that its Prospecting Licence PL/2018/0189 (‘the Licence’), which surrounds the Company’s Mining Licence and current gold production facilities at the Kilimapesa Gold Mining and Processing Operations in Kenya, has been renewed for a further three years by Kenya’s Ministry of Petroleum and Mining.

Chief executive of Caracal Gold Plc, Robbie McCrae, said: “The renewal of our Prospecting Licence, which surrounds Caracal’s existing Mining Licence atKilimapesa, is yet another vote of confidence from the Kenyan Government in our operations in the country. It also provides a strong boost to our corporate strategy and plan to expand our exploration activities beyond Kilimapesa, and in turn, grow our mineral resource base to over2Mozsfrom current and new operations within 18 months.

Eurasia Mining PLC, (AIM: EUA) announced that it was granted an additional exploration licence at its West Kytlim PGM project and gold project in Russia. The Flanks License is located adjacent to Eurasia’s current mining licence and intersects and extends well beyond the original exploration license it held via its joint venture with Anglo American Platinum Ltd.

James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “The Board members are happy that we have once again delivered on the promise we made to obtain the Flanks License at our West Kytlim project, strengthening its position as the world’s largest soft rock PGM project, as we continue to successfully execute on our plans “.

Power Metal (AIM: POW) Raises £1.05 million to Accelerate Operational and Strategic Opportunities. Raised £1.05 million at the closing market mid-price of 1.75p on 12/11/21. Funds were raised to enable acceleration of business operations including strategic exploration activities and corporate opportunities.

Power Metal working capital comprising solely cash and listed investments increases to circa £3million.

Mkango Resources Ltd. (AIM/TSX-V: MKA) announced that HyProMag Limited (“HyProMag”) has established an 80% owned German subsidiary, HyProMag GmbH.

HyProMag GmbH is 20% held by Professor Carlo Burkhardt of Pforzheim University in Germany, who has also been appointed to the board of Directors of HyProMag GmbH.

William Dawes, Chief Executive of Mkango stated: “This is an exciting milestone for HyProMag, positioning the company for further growth in Europe and internationally. The establishment of HyProMag GmbH also complements Mkango’s strategy to develop a rare earths processing hub in neighbouring Poland, working with Grupa Azoty Pulawy. Mkango looks forward to supporting HyProMag’s development in UK, EU and international markets, as it scales up to commercial production.”


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
Stockmarket News
Tags: , , , , , , , , , , , , , , ,
Share Talk
Share via
Copy link
Malcare WordPress Security