Share Talk Weekly Mining Sector News Round-Up, 27th February 2022

What a week across the markets, with so much uncertainty, false drops on commodities across the globe, we are heading into uncharted waters after rising tensions over Russia and Ukraine caused share prices on the FTSE 100 to drop dramatically on Thursday.

Looked to have recovered on Friday, the geopolitics are yet to play out, watch this space!

Evraz PLC, (LSE: EVR) stated that it is prepared for a “severe downside scenario” as Eastern Europe’s situation worsens. London listing of steel giant stated that the “situation relating to Ukraine has further increased economic uncertainties and the risk of imposition of sanctions.”

BlueRock Diamonds PLC (AIM: BRD) the diamond producer in the Kimberley region of South Africa announced the discovery of an 11.95 carat stone at its Kareevlei mine in South Africa. The stone will go to tender later this week with an expected valuation in excess of US$100,000. Mike Houston, Executive Chairman said, “This is another excellent discovery that underpins Kareevlei’s ability to deliver large high value diamonds. Given the stone’s size and quality and continuing market buoyancy, we look forward to the upcoming tender to build on the success of the January sales, which achieved an average price of USD565 per carat (2021 average: USD465ct).” To see additional large stones recovered in 2022/21 please refer to the RNS announcement.

Traders Cafe with Zak Mir: Caracal Gold PLC (AIM: GCAT) Project Infrastructure, Value Creation

Bens Creek Group plc (AIM: BEN), Updated on the preparation and wash plant and completion of the purchase of the second highwall miner. They have now completed all the necessary remedial works required on its preparation and wash plant. This work is in line with the Company’s stated intentions to repair and upgrade its coal preparation and wash plant, originally acquired at a fair value of US$10 million.

Kavango Resources plc (LSE: KAV), announces an extension to the exclusive three-month option (“Option”) to acquire 85.23% of KKME. Kavango now has until close of business on Monday 28 February 2022 to exercise the Option.

Ferro-Alloy Resources Limited (LSE: FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, announced the appointment of Liberum Capital as a joint corporate broker alongside Shore Capital.

Power Metal Resources PLC, (AIM: POW) highlighted its exposure to multiple commodities on the United States Geological Survey’s list of Critical Minerals. This list was published earlier in the week.

In a statement, the company stated that the list is updated three times a year and that the 2022 edition included nickel and zinc.

Jangada Mines (AIM: JAN) has been issued the fifth tranche of 500,000 common shares in  ValOre Metals Corp. in relation to the disposal of the company’s previously owned PGM project held by Pedra Branca Brasil Mineracao. Under the terms of the agreement with ValOre, completed in August 2019, Jangada sold its interests in Pedra Branca to ValOre in a cash and shares agreement, payable in several tranches, and this represents the fifth out of six with the final tranche due in six months.

Horizonte Minerals PLC, (AIM: HZM) has given Hatch Ltd. the contract to construct the furnace at the Araguaia ferronickel Project. Horizonte stated that Hatch has a strong track record in South America. This includes both Anglo American and Vale’s nickel operations, in Brazil, and South 32’s Cerro Matoso, in Colombia.

 

 
Empire Metals Limited (AIM: EEE), has signed a binding Tribute Agreement with Maher Mining for the Gindalbie Gold Project in Western Australia, which neighbours Empire’s flagship Eclipse Gold Project. The agreement grants Empire the exclusive right to explore, develop and mine within a granted area on Maher Mining’s mining lease. Several historical mine shafts are located within the area and recent near-surface exploration has generated several high-grade gold targets. An exploratory drilling campaign aimed at testing several priority targets around the historical mine workings has been commenced.

Eurasia Mining PLC, (LON: EUA ) reiterated its belief that western sanctions will not have any impact on its operations. As hostilities escalated, the shares of the miner in Russia, which produces palladium, gold, platinum, and rhodium has fallen 60%.

Mila Resources (LSE: MILA) updated the market on its latest drilling programme, located in a region which hosts some of the largest gold projects in Australia and adjacent to Bellevue Gold’s discoveries, in the Kathleen Valley Gold Project in Western Australia. The objective of the drill programme is to build on the existing JORC Inferred Resource and unlock the full potential of the project, Mark Stephenson, Mila’s CEO said:” We had a high level of confidence as we went into this drilling campaign, and initial results are supporting this belief that the initial resource declared at Kathleen Valley was simply the tip of the iceberg.”

Zinnwald Lithium Plc (AIM: ZNWD) announced its final results for the year 31 December 2021. The company revealed the significant advances made towards becoming an important supplier to Europe’s fast-growing lithium sector, having gained full control over its flagship Zinnwald Lithium Project in Germany during the period and focusing on ways to improve the project, and planning workstreams for 2022.

Share Talk Q&A, Power Metal Resources (AIM: POW) Paul Johnson CEO, 22nd February 2022

Jangada Mines (AIM: JAN) has been issued the fifth tranche of 500,000 common shares in  ValOre Metals Corp. in relation to the disposal of the company’s previously owned PGM project held by Pedra Branca Brasil Mineracao. Under the terms of the agreement with ValOre, completed in August 2019, Jangada sold its interests in Pedra Branca to ValOre in a cash and shares agreement, payable in several tranches, and this represents the fifth out of six with the final tranche due in six months.

Caerus Mineral Resources PLC (LSE: CMRS ) and Bezant Resources PLC (AIM: BZT ) announced promising results from the dump sampling and drilling at their Troulli and Kokkinapetra joint venture projects in Cyprus.

Troulli average copper grade was 1.2% from stockpile sampling; tailings sampling returned 0.4% copper and 0.02 grammes per tonne (g/t), double the projected grades; drilling results showed that copper and gold mineralisation had been found outside the main Troulli deposit.

Eurasia Mining PLC (LON: EUA) and Amur Minerals Corporation (AIM: AMC), which both have a lot of Russian mining investments, informed investors that the latest sanctions would not affect their operations. They also stated that no person or entity was linked to them.

Power Metal Resources PLC, (AIM: POW) First Development Resources was granted three exploration licenses at Selta Uranium Project. The official grant of the licences triggers FDR stock being issued to vendors of URE. In November, the vendor of URE sold the Northern Territory-based project it had to the Power Metal subsidiary.

Alien Metals Ltd (AIM: UFO) stated that it issued 50,000,000 new shares to Windfield Metals Pty Ltd is a joint venture agreement related to the Hamersley iron ore project in Western Australia.

Alien Metals achieved the first performance goal under the agreement. It will eventually acquire a 51% share in the project. Last September, Alien Metals announced that it had a maiden estimated inferred resource of more than 10,000,000 tonnes.

On Tuesday Tensions in Ukraine have intensified in the past 24 hours with Vladimir Putin sending troops to two Russian-supporting areas.

The gold bullion, a traditional haven for cash in times of crisis, briefly rose to US$1,900 on 21 Feb and was within reach of US$2,000 a troy landmark.

Blencowe Resource PLC (LSE: BRES) purchased the right to participate in the Akelikongo nickel-sulphide/copper project. This project is near its Orom Cross graphite project in Northern Uganda. Rio Tinto and Sipa Resources owned the project until May 2020.

Thor Mining PLC (AIM:ASX: THR) reported positive results in the first phase of drilling at the Alford East copper/gold project in Australia. The drilling on the northern part of the Alford East deposit revealed higher copper and gold grades than was expected based on historical drill hole information.

Savannah Resources PLC (AIM: SAV) has completed its process flowsheet to produce spodumene concentrate at the 100%-owned Barroso Lithium Project in Portugal.

Minsol Engineering, a leading consulting metallurgical firm, is happy to announce that the flowsheet has been refined and tested over the last eight months and is ready for detailed engineering studies as part of a definitive feasibility study.

Oriole Resources PLC (AIM: ORR) updated on its Senala gold project in Senegal, where joint venture partner IAMGOLD Corporation (‘IAMGOLD’) has the option to spend up to US$8 million to earn a 70% interest

 


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