Share Talk Weekly Mining Sector News Round-Up, 30th October 2021

It’s been another busy week across London’s junior mining sector.

Eurasia Mining PLC (AIM:EUA) has announced that a potential buyer for most of its assets located in Russia has completed its due diligence. According to the miner, it is continuing to evaluate additional interest from other parties. It also stated that it intends to pursue several options with UBS, DLA Piper, and other advisers.

Christian Schaffalitzky, Executive Chairman of Eurasia commented: ” The Directors are delighted that we are advancing several transactions concurrently. We see competition for Nickel-Copper-PGM assets (with a similar basket of metals like ours and the assets included in our agreement with Rosgeo) increasing on a global scale “.

James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “We are advancing our development projects to production, increasing production on our operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well”.

Panthera Resources PLC (AIM:PAT), agreed to purchase Metal Mining India Private. This is the company’s joint venture partner for the Bhukia-Targaon projects. The junior also raised £780,000 through a 10p share subscription.

 

Greatland Gold PLC (AIM:GGP) claimed that recent drilling at Havieron’s gold project in Western Australia yielded the most impressive intercept to date. The intercept was found below the South Crescent resource and measured 102.4m in width at a grade 10 g/t of gold and 0.66% of copper.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: ” The volume and quality of results at Havieron continue to impress as we observe increases in both grade and thickness at depth. This supports continuity of the high grade zonations and potential upgrades to the mineralisation. It speaks volumes for the tremendous quality of Havieron that after reaching a milestone of 200,000 metres of drilling, the best gram metre intercept ever drilled was just delivered, located at the high grade South East Crescent Zone.

Thor Mining PLC (ASX:AIM:THR) Quarterly Activity Report July to September 2021. Nicole Galloway Warland, Managing Director of Thor Mining, commented: The September quarter has been a busy time, with Thor increasing its on-ground exploration activities to advance projects to drilling status.

Bens Creek Group Plc (AIM: BEN), the owner of a metallurgical coal mine in North America, is pleased to announce that its wholly owned subsidiary Ben’s Creek Operations LLC (“BCO”) and Mega Highwall Mining LLC (“MHW”) have entered into a contract mining services agreement (“the Contract”). MHW will be responsible for the production of BCO’s metallurgical coal reserves for an initial 12 month period.

Katoro Gold plc (AIM:KAT), announced that the intention to seek admission for 100% of the Blyvoor Joint Venture project, by vending each of their separate interests into a new company to be listed on the Standard List of the London Stock Exchange:

Xtract Resources Plc (AIM:XTR) said that independent laboratory assays have been received from two further drill holes (BRDD-21-010 and BRDD-21-013) completed on the Phase 2 diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project.

James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “We are advancing our development projects to production, increasing production on our operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well”.

Oracle Power plc (AIM:ORCP) announced that the Department of Mines Industry Resources and Safety has approved the programme of work for drilling of the five target areas defined at its 100% owned Jundee East Gold Project.

It was also invited to a ceremonial signing of the non-exclusive co-operation agreement with PowerChina International Group Ltd on Saturday 23rd October to jointly develop the first green hydrogen production facility in Pakistan, further endorsing the support the have from the government.

Anglo Pacific Group PLC (LSE:APF) has posted a record-breaking third quarter. Its royalty portfolio earned income of US$23.6mln due to strong coal and cobalt price. The company’s royalty on Kestrel, an Australian coal mine, generated US$11.7 million. However, current spot prices for coking coal at US$390/tonne mean that fourth quarter income could be even greater.

Adriatic Metals PLC released its environmental- and social impact assessment for the Vares polymetallic plant in Bosnia. After a public review of the draft, it will be finalized.

Contango Holdings Plc (AIM:CGO) A has released an update on recent activities at the Garalo-Ntiela Gold Project Area in Southern Mali. Aeromagnetics and airborne geophysics for the collection of magnetic and radiometric data has been completed and analysed, supporting the Project’s accelerated development into production The survey also targeted some untested areas within the Project area, particularly at Ntiela where exploration work earlier in 2021 yielded very encouraging results.

Hochschild Mining PLC (LSE:HOC) FTSE 250 precious metals miner reported the strongest quarter of production for the year. The third quarter’s attributable production jumped 37%, to 93.630 gold equivalent ounces or 8.9 million silver equivalent ounces. This was due to higher-than-expected grades of the Inmaculada Peru mine.

Tirupati Graphite plc (LSE:TGR), announced the publication of its inaugural Sustainability Report.  Setting out the company’s sustainability strategy and commitment to strong environmental, social and governance (ESG) business practices, the report is available on the Company website: www.tirupatigraphite.co.uk. The company also announced its results for the six months ended 30 June 2021.

 

 

Caracal Gold plc (LSE:GCAT), has announced the release of its updated corporate presentation, which is now available on its website: www.caracalgold.com. The company announced its results for the six months ended 30 June 2021.

IronRidge Resources Ltd (AIM:IRR) will hold its annual general assembly on 18 November in Sydney. This is ahead of the proposed demergeration of the company’s assets of gold and a change to the name of Atlantic Lithium Limited. Vincent Mascolo, IronRidge chief executive, stated that the last twelve months have been the best performing period in company history. The upcoming AGM will be a landmark.

Harvest Minerals Limited (AIM:HMI) announced that it has exceeded its total FY21 sales target of 80,000 tonnes of KP Fértil®, over two months, ahead of schedule.

Pembridge Resources PLC (LSE:PERE) has released its third quarter operating results for Minto, a Yukon mine in which it holds an important stake. The quarter saw the mine produce 7,127 wet tonnes of concentrate, a significant increase on the 5,707 wet tonnes it produced in the same period in 2020.

Bradda Head Lithium Ltd (AIM:BHL) received positive results from the GPRplus Geophysical Programme at the Burro Creek, and Wikieup Projects in Arizona. Bradda Head stated that initial results confirmed the original theory that Burro Creek East’s clay, which Bradda has a JORC of 185,000 tonnes lithium carbonate equivalent (LCE), thickens towards Bradda and towards the north-west.

Caerus Mineral Resources (AIM:CMRS), provided shareholders with an update on its’ flagship’ Troulli Project trenching and sampling programme focused on residual metals in surface materials, and the subject of a prospective Joint Venture involving Jubilee Metals Group and Bezant Resources.

Kavango Resources PLC (AIM:KAV) was granted an Environmental Management Plan (EMP). This plan covers all its prospecting licenses in the Kalahari copper belt in Botswana. It allows it to conduct drilling work for two-years. Chief executive Ben Turney said that the Department of Environmental Affairs was the reason for the Kalahari Copper Belt’s Environmental Management Plan being awarded. This is an important step forward for the company.

Phoenix Copper Ltd (AIM:PXC), has entered into agreements with Honolulu Copper Corporation (“Honolulu”) and Mackay LLC (“Mackay”) to acquire part of the 2.5% royalty payable to each of them, and the Honolulu mining claims, pursuant to the Mining Leases on the Empire Mine in Idaho, USA (the “Agreements”).

Bushveld Minerals Ltd (AIM:BMN), a vanadium producer as well as a provider of energy storage solutions, announced that it has reached an agreement to repay the remaining US$11.5mln convertible loan notes with Duferco Participations Holding SA. Duferco will convert US$9mln from the balance to new Bushveld shares on November 8th, while Bushveld will pay the remainder US$2.5mln in cash and interest.

Power Metal (AIM:POW) Power Metal Resources Australia Pty Limited Lodges Applications Covering 1,994Km2 and Targeting Olympic Dam Style Mineralisation in the Gawler Craton, South Australia. The company also has signed a revised agreement (“Agreement”) for the 100% acquisition of First Development Resources Pty Ltd (FDR Australia). This Agreement is unconditional and binding.

Glencore PLC (LS:GLEN) has raised its profit forecast for this year and stated that it expects its underlying profit (adjusted EBITA) to surpass its US$2.2bn-US$3.2bn per year long-term guidance.

Cadence Minerals (AIM:KDNC) announced that the Castillo Copper’s (ASX/LON: CCZ) geology team will undertake a field trip to the Picasso Lithium Project, near Norseman in Western Australia.

This is a lithium-rich region, as the Mt Marion and Bald Hill Mines are located within 120km to the northwest of the tenure. Moreover, the Picasso Lithium Project is proximal to LTR’s Buldania Project which has a JORC compliant resource at 14.9Mt @ 0.97% Li2O2.


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