Share Talk Weekly Mining Sector News Round-Up, 29th January 2022

Broker Berenberg says that the main catalyst for Greatland Gold PLC’s (AIM: GGP) shares is the valuation, by Newcrest, of the 5% option over Havieron.

This option will increase Newcrest’s Havieron holding from 70% to 75%. The exercise process must be completed by mid-February 2022.

 The most significant result seen at Havieron outside of the South East Crescent Zone

Berenberg believes that the determination of the option price will be left to an independent expert. Newcrest has 30 days from the date the fair value is determined to acquire the additional interest of 5%.

“We see this as a crucial moment for Greatland because it will be clear how Newcrest values the whole project and not just the portion that was included in the initial prefeasibility study.

Anglo Asian Mining (AIM: AAZ) Investment in Libero Copper & Gold Corporation, Completion of Strategic Investment of 19.8 per cent. in Libero Copper & Gold Corporation Corporation. Acquisition of remaining 10 per cent. of investment, 7 million new shares acquired for CAN$3.5 million (US$2.8 million).

Anglo Asian CEO Reza Vaziri commented: I am delighted to announce the completion of our acquisition of a 19.8 per cent. shareholding in Libero, our first investment outside of Azerbaijan. In line with our agreement, Michael Sununu has been appointed to Libero’s board, where I am certain he will make a valuable contribution and ensure our interests are represented.

BlueRock Diamonds PLC (AIM: BRD) has sold a 6.8 carat stone for USD63,186 in the January 2022 sale. The average price of USD565 per carat was achieved for the total January tender (2021 average: $465ct) – a reflection of the continued overall quality of Kareevlei diamonds and the strong market demand seen so far in 2022.

 

 

Alien intersects bonanza silver at Elizabeth Hill including 9.7m @ 8,326 g/t Ag (267oz/t Ag) from 15m, Alien Metals Ltd (AIM: UFO), updated the market on its inaugural drilling program at the high-grade Elizabeth Hill Silver Project in the Pilbara Region of Western Australia.

The drill program consisted of a total of 1,991 metres in 22 holes across the Project and the results below are from the 4 diamond drill holes completed for 211m from the first stage of the drilling program. The remaining results are expected in the coming weeks.

Empire Metals Limited (AIM: EEE) announced that it has agreed Heads of Terms to enter into a Tribute Agreement with Maher Mining Contractors, giving Empire the right to explore, develop and mine within a granted area on Maher Mining’s 100% owned mining lease M27/158 located near the historic gold mining town of Gindalbie, and adjacent to Empire’s flagship Eclipse Gold Project.

Thor Mining PLC (ASX:AIM: THR) Lithium Targets Identified at Ragged Range Project, WA. Lithium targets and exploration program.

The Pilbara Craton already hosts two “world-class” lithium deposits, and ground with battery metals prospectivity at our 100% owned Ragged Range project is an exciting new development and has the potential to create substantial value for Thor shareholders.

Trident Royalties Plc (AIM: TRR)  has agreed to acquire, subject to certain conditions and at its election, an indirect 1.5% Gross Royalty over the Sonora Lithium Project, in Mexico. Owned by Ganfeng Lithium and Bacanora Lithium, this development stage asset complements Trident’s existing lithium royalty over the Thacker Pass Lithium Project in the U.S., providing exposure to shareholders over what are expected to be North America’s next Tier-1 lithium mines.

Kavango Resources (LON: KAV) Chief Operating Officer appointment. The company confirmed that Mr Brett Grist will join the board of directors on 07 February 2022. Mr Grist will become the Company’s, Chief Operating Officer.

East Star Resources Plc (LSE: EST), announces the first batch of assay results from reconnaissance Reverse Circulation (RC) drilling undertaken in September 2021 on the Apmintas Licence in the Chu-Ili Gold Belt in central Kazakhstan.

The results include a “discovery hole” at the first drill target at “Novoe” returning 63 meters at 4.51 g/t Au from surface.

Alien Metals Ltd (AIM: UFO), announced it will be taking part in the Shares and AJ Bell investor evening event, to be held at the Radisson Blu Hotel in Edinburgh on Thursday, 10 February 2022. The event will consist of a presentation by Bill Brodie Good, CEO and Technical Director, to provide an update for existing and

potential investors on the Company. Investors can register to attend in person via this link: https://www.sharesmagazine.co.uk/events/event/shares-investor-evening-edinburgh-100222/register

Power Metal Resources PLC (LON: POW) announces an update from the Company’s inaugural 1,000-metre diamond drilling programme on the nickel-copper-cobalt-platinum group element Haneti Project located in central Tanzania.

Katoro Gold PLC (AIM: KAT) holds a 65% ownership interest in the Haneti Project nickel-copper-cobalt-platinum project with 35% held by Power Metal Resources (AIM: POW).

The company confirms that the mobilisation of the diamond drill rig and operational team has been successfully completed and diamond drilling has now commenced.

Xtract Resources Plc (AIM: XTR) advised that representative drill core samples from the Racecourse and Ascot prospects are being prepared for dispatch to an independent laboratory for metallurgical test work on the Bushranger copper-gold porphyry exploration project.

Four samples are being prepared for dispatch to the independent Brisbane Metallurgical Laboratory of Brisbane, Australia, to undertake initial metallurgical test work in order to gain an understanding of the metallurgical characteristics of the Racecourse and Ascot mineralised bodies. The aim is to provide project-specific assumptions for Xtract’s early-stage open-pit financial modelling at Bushranger.

Amur Minerals (AIM: AMC) jumped 83% to 3.67p after it notes the recent share price movement and press speculation that a potentially interested party has valued the Company at an indicative price of up to £100 million.

The Company confirms that it is in discussions with a potential purchaser to sell its wholly-owned subsidiary, Irosta Trading Limited, for approximately the indicated price. Irostra Trading Limited owns the Kun-Manie Project.

Atlantic Lithium Limited (AIM: ALL), announced further high-grade infill drilling results at the Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa, where the Company recently announced an updated Scoping Study and increased JORC resource of 21.3Mt @ 1.31% Li2O, resulting in a significant improvement in project economics and life of mine.

ASX-listed mining company Artemis Resources Intention to float on AIM

Artemis Resources, an ASX-listed mining exploration, and development company based in Perth have announced its intention to apply for admission to the AIM market at the London Stock Exchange to trade the Company’s entire share capital.

The directors of Thor Mining Plc (AIM, ASX: THR) advised that Power Metal Resources Plc (AIM: POW) and Thor have agreed to a Variation of Tail Benefit (“Variation”) as part of the Sale Agreement of the Pilot Mountain Tungsten Project in Nevada, USA.

ECR Minerals plc (AIM: ECR) Appointment of Andrew Scott as a Non-Executive Director with immediate effect. A communications specialist and media professional with more than 15 years of experience across key global markets, Andrew Scott is well known in the UK and across Australia as an interviewer with multi-media news and investor relations organisation Proactive Investors.

He has also worked at Sky News UK, Reuters (where he presented and edited Business Show ‘Money Matters’) and worked in presenting and media roles at ITV and Television NZ (TVNZ).

Oracle Power PLC (AIM: ORCP), announced that it has signed a non-binding Memorandum of Understanding (“the MoU”) with Sui Southern Gas Company Limited (“SSGC”), a publicly listed company on the Pakistan Stock Exchange, which is majority-owned by the Government of Pakistan, relating to the joint development of a synthetic natural gas (syngas) project utilising coal from Thar.

Naheed Memon, CEO of Oracle, commented :

“Our Thar Block VI Project is an asset with immense potential value for Pakistan, particularly in the context of natural gas shortages and the intense price pressures associated with the import of LNG. The MoU with SSGC, the majority of which is owned by the Government of Pakistan, could be a significant turning point in the pursuit to secure long-term domestic syngas and we are delighted to working with SSGC to produce a detailed technical and financial feasibility study to advance these plans. We look forward to updating the market further with the development of these studies as we jointly look to unlock the value of this strategic resource for the benefit of all stakeholders and in accordance with national demand.”

Sotheby Dubai has unveiled a rare 555.55-carat black diamond. Sophie Stevens is a Sotheby’s jewellery specialist who said that the black diamond was likely to come from outer space.

This rare gem was presented to journalists in Dubai and Los Angeles as part of a tour. It will then be auctioned in London in February.

Sotheby’s anticipates that the diamond will be sold for at most £5 million. The auction house will accept cryptocurrency as a payment option.


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