Eurasia Mining PLC (EUA.L) Placement of US$15m at 26p for Rosgeo JV, announced that it has entered into a securities purchase agreement for a private placement.
The cash position of the Company prior to the Private Placement is about $20m with no debt and after significant investments made into the West Kytlim operating mines and plants expansion, as well as into the Monchetundra project as announced on 1 September 2021. The cash position of Eurasia after the Private Placement will be approximately US$35m.
On Friday EUA announced the Completion of US$15m financing for Rosgeo JV, Christian Schaffalitzky, Executive Chairman commented: “The Directors are pleased that more institutional investors have joined our shareholder base, as we reach another important milestone. We look forward to providing further updates”.
Metal Tiger PLC(MTR.L), flagged the A$1.9bn purchase (PS1bn), by 3.4%-owned Sandfire Resources Limited, of the Minas De Aguas Tenidas, Spain, and a A$1.25bn equity raise. Metal Tiger currently holds 3.4% of Sandfire’s share capital.
Caerus Mineral Resources (LON: CMRS), provided Shareholders with an exploration update for the dump evaluation programme and general exploration of the Kalavasos Project.
Commenting on the Kalavasos exploration update, Chief Executive Officer, Martyn Churchouse said; “Dump sampling to date at Kalavasos has been very successful and gives impetus to our “Waste to Revenue” strategy.
Xtract Resources plc (XTR.L) Eureka Copper Project – Phase 2 drilling final assay results from the Phase 2 drilling programme at the Eureka copper-gold deposit on small scale mining licence number 22134-HQ-SML (“Eureka Licence”) located in the Central part of The Republic of Zambia (“Eureka Project”).
Botswana Diamonds (BOD.L) Thick kimberlite intersections on Thorny River. Has successfully completed its nine-hole drilling programme on the Thorny River property in South Africa.
The objective was to see if two kimberlite blows (the River and River Extension blows were one contiguous orebody, thus increasing the overall resource and improving the commercial prospects of the project.
Red Rock Resources (RRR.L) Update on Power Metal Resources and Australian JV, announces an update in relation to its investee company Power Metal Resources PLC (“POW”) and its joint venture with POW, Red Rock Australasia Pty Ltd (“RRAL”) which is undertaking gold exploration at its granted licences in the Victoria Goldfields in Australia (the “Projects”).
New Ballarat Gold Corporation PLC (“NBGC”) is in course of incorporation and Red Rock and POW will hold their interests in the Projects through shareholdings in NBGC in the same proportions as their previous shareholdings in RRAL (50.1% Red Rock and 49.9% POW). RRAL will become a wholly owned Australian subsidiary of NBGC.
Alien Metals Limited (UFO.L) announced maiden Inferred iron ore Resource in excess of 10Mt at 60.4% Fe. Hancock Iron Ore Project in the Pilbara region of Western Australia and specifically the publication of a maiden Inferred Resource in excess of 10Mt.
Mkango Resources Ltd (MKA.TSX.L) Commences Geotechnical Drilling & Pitting Program. The company announced that the management team of Mkango, as well as leading Malawian geotechnical engineering firm, Geoconsult Limited, and Zutari Limited, a geotechnical engineering firm which is based in South Africa, are on site at the Songwe Hill Rare Earths development project to commence a major geotechnical drilling and pitting program.
The geotechnical test work program will obtain samples from approximately 150 five-metre-deep pits and 22 twenty-metre drill holes and is being undertaken to confirm the soil and ground characteristics of the Songwe Hill project area.
After its Phase 1 exploration program, Shanta Gold Ltd ( SHG.L), announced the first indicated resource for its West Kenya project.
Ferro-Alloy Resources Ltd, (FAR.L), told investors that it had begun production of ferro-molybdenum pentoxide and vanadium pentoxide.
Arc Minerals Limited (ARCM.L) Drilling Intersects Massive Copper Sulphides, confirm that its diamond drilling programme on its majority-controlled licenses in north-western Zambia has intersected massive sulphide copper mineralisation at Cheyeza East.
The first hole which is currently being drilled, approximately 500 metres to the northwest of the previous oxide drilling campaign, has intersected massive and disseminated copper sulphide mineralisation, confirmed by both visual observations of the core and X-Ray Fluorescence (‘XRF’) analyses.
Altus Strategies PLC (ALS.L) said that it found 37 hard rock artisanal-gold workings in its Gabal Om Ourada, Wadi Dubur projects, Egypt, after initial field reconnaissance
Kodal Minerals PLC (KOD.L) Annual General Meeting & Company Presentation which is being held at the offices of Fieldfisher LLP, 9th Floor, Riverbank House, 2 Swan Lane, London EC4R 3TT on 28 September 2021 at 11.00 a.m.
AfriTin Mining Ltd, (ATM.L), announced that it has entered into a 90mln Namibian Dollar (£4.5mln), loan agreement with Standard Bank Namibia Ltd in order to finance the expansion of its Phase 1 processing plant at Uis Tin mine.
Pembridge Resource PLC, ( PERE.L). Chief executive Gati Al Jebouri stated that he is looking forward to the company reaping all the benefits of the market recognizing the ‘true worth’ of the Minto asset.
Of this new capital, CAD$ 3.8 million was invested by Pembridge, which has thus maintained its ownership percentage in Minto Metals at 11.1%, which is subject to change depending on whether additional capital is raised prior to the listing of Minto Metals. Pembridge funded this investment with the USD $3 million of convertible loan notes that it issued in June 2021.
Al-Jebouri highlighted in the company’s financial statements the progress made by Minto in 2021, which included Minto’s spin-out and float into a Toronto Stock Exchange-listed vehicle.
Panther Metals PLC (PALM.L) Drilling Commenced at Dotted Lake with all necessary drilling equipment has been mobilised to our 100% owned Dotted Lake property in Ontario, Canada.
It is expected the drill hole collar will be set on Thursday morning, with core drilling of the planned 400m deep hole following on immediately.
Darren Hazelwood, Chief Executive Officer, commented:
“This represents a milestone for Panther Metals and our shareholders as we commence drilling at Dotted Lake. Our drive for exploration success is now in full flow with a busy autumn ahead, not only drilling at Dotted Lake, but also a considerable programme planned and financed at Wishbone, on the Obonga Greenstone Belt.
I look forward to updating the market as our projects advance at the earliest opportunity “.
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