Sovereign Metals Limited (ASX:SVM; AIM:SVML) the Company requested an immediate voluntary trading halt in its shares on the Australian Securities Exchange (ASX), pending an announcement regarding an updated Mineral Resource Estimate at Kasiya.
The Company has requested that the trading halt remains until the earlier of an announcement to the market regarding the above or the opening of trade on ASX on 5 April 2022. With this update and the London markets still trading, the share price hit a new 52-wk high, 47.50, a rise of over 35% on Friday.
ECR Minerals (AIM: ECR), claimed that it had made significant operational progress in its final financial year. However, this was overshadowed somewhat by the death of Craig Brown, chief executive.
The explorer is focusing on several gold prospects in Victoria, Australia. David Tang, chairman of the group, stated that it had significantly increased the value across the group’s assets.
Emmerson PLC, (AIM: EML) stated that discussions about a financing package to finance the Khemisset Potash Project in Morocco were bolstered by the soaring price of fertiliser after the war in Ukraine.
It stated that the “importance of the Khemisset Project as a new source for potash has increased significantly” in a statement.
Xtract Resources Plc (AIM: XTR) advised that independent laboratory assays have been received for drill holes BRDD-021-028 and BRDD-21-030 from the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.
Drillhole BRDD-21-030 was drilled into the side of the Racecourse porphyry in the southern central region and has intersected a wide interval of mineralisation that has enrichments of gold.
Vast Resource PLC (AIM: VAST) stated that it is still in discussions with Botswana Diamonds PLC (AIM: BOD) regarding the future development and operation of the Ghaghoo diamond mining site in Botswana.
Vast made public its decision not to purchase the mine from Botswana Diamonds last month, but today said that the parties will continue to work together to achieve a mutually beneficial result.
BlueRock Diamonds PLC, (AIM: BRD) which owns and operates the Kareevlei Diamond Mine (‘Kareevlei’) in the Kimberley region of South Africa, announced the raising of gross proceeds totalling £2.1 million via a placing of 6,000,000 new ordinary shares of 5 pence each in the Company at a price of 35 pence per Placing Share.
Power Metal Resources PLC, (AIM: POW). stated that it had identified a 12-kilometre (km), anomalous feature at the Soaring Bay Uranium Asset in northern Saskatchewan, Canada.
Power Metal has thus increased its footprint at Soaring bay by 71% to 79.07 sq km (sq km), through additional stakes of adjacent uranium prospective ground.
Sovereign Metals Ltd. (ASX:AIM: SVML). presented at a roundtable for the All-Party Parliamentary Group. The All-Party Parliamentary Group, (APPG), for Critical Minerals at UK Houses of Parliament. extolled the low-carbon footprint virtues of the Kasiya Rutile project in Malawi.
Chair Ben Stoikovich spoke out about the potential of the natural rutile Kasiya project to be a major supplier of low-carbon natural graphite for the UK.
Horizonte Minerals PLC, (AIM: HZM) has issued $65mln convertible note and sold a US$25mln royalty over Vermelho. These are combined with the last part of the previously announced US$633mln finance package.
Jeremy Martin, chief executive, stated that the funding would enable it to proceed with confidence in the construction at Araguaia. This is its flagship project.
Atlantic Lithium Limited, (AIM: ALL). Chairman Neil Herbert stated that the recent resource upgrade at the Ewoyaa lithium plant in Ghana will “significantly improve” overall economics.
The total indicated and inferred lithium oxide (Li2O), has increased by 42% to 30.1 Million tonnes (Mt) with a 294% rise in the more certain category, 20.5Mt.
Keras Resources plc (AIM: KRS) updated that it now owns 100% of Falcon Isle Resources LLC and Falcon Isle Holdings LLC (collectively ‘Falcon Isle’), having acquired the outstanding 49% minority interests of Falcon Isle from the Helda Living Trust (‘HLT’).
Falcon Isle owns the high-grade Diamond Creek organic phosphate lease and mine, (‘Diamond Creek’) and the Spanish Fork processing facility (‘Processing Facility’) in Utah, USA. Keras has now assumed full management of Falcon Isle and production has recommenced operations at the Processing Facility.
Empire Metals Limited, (AIM: EEE) provide an update on the reverse circulation (‘RC’) drilling programme recently completed at the Gindalbie Gold Project in Western Australia, over which Empire holds a Tribute Agreement granting exploration, development and mining rights.
1,676m of RC drilling completed, focused mainly on known mineralised trends based on historical workings, soil geochemistry mapping and previous RAB/RC drill results, being Homeward Bound, Laurel-Bulletin, South Gippsland #3, Golden Puzzle and Bud’s Find.
Castillo Copper Ltd. (LSE: CCZ). The ongoing work on the geological model has revealed new cobalt results for 20 drill holes in the target area that houses the Tors & Reef Tank prospects of the Broken Hill Alliance Project (BHA), New South Wales.
These new results will be codified, and then they will be added to the 6,380 holes that have been drilled.
Oracle Power PLC (AIM: ORCP), said that it has entered into a joint venture agreement with the Private Office of His Highness Shaikh Ahmed Dalmook Al Maktoum (represented through Kaheel Energy FZE, a wholly-owned free zone company incorporated under the laws of Dubai, UAE (“Kaheel Energy”)), with the objective of advancing the Company’s green hydrogen project in Pakistan.
Galileo Resources PLC (AIM: GLR) stated that it had reached an agreement to sell the Glenover vermiculite mining assets to Afrimat Limited, for approximately £523,000 cash.
Colin Bird Galileo’s Chief Executive stated that this was a positive step in the gradual sale of Glenover Asset. These funds will be used to release value from the Copper-Gold and lithium projects in Zimbabwe in Southern Africa.
The directors of Thor Mining Plc (AIM, ASX: THR) provided an exploration update on-field activities at the Company’s 100% owned Ragged Range Project, located in the Eastern Pilbara, Western Australia.
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“Thor is pleased to have the team back on the ground for the 2022 field season, at our 100% owned Ragged Range Project. The team will be focused on priority lithium, nickel and gold targets across the tenure.
The current field program concentrates on mapping and sampling several lithium-caesium-tantalum pegmatite targets associated with the highly prospective Split Rock Supersuite. Whilst at our previously untested nickel gossan which extends over 1km, the scheduled electromagnetic survey should identify the most prospective areas at depth to conduct initial drill testing.
Harvest Minerals Limited (AIM: HMI) provided a trading update for its organic, multi-nutrient fertiliser, KP Fértil®, from its 100% owned Arapuá Fertiliser Project in Brazil (‘Arapuá’). Accumulated sales orders in Q1 CY2022 totalled 70,200 tonnes, an increase of over 689% compared to the same period last year.
Alien Metals Ltd (LSE AIM: UFO) an update on the Company’s Hancock Iron Ore Project, part of its Hamersley Iron Ore Project, Western Australia, further to its announcement of 2 March 2022. A further 3km of new high-grade ridge targets were defined at the Hancock Iron Ore Project.
Bill Brodie Good, Chief Executive Officer & Technical Director of Alien Metals, commented: Ongoing exploration across the Hancock Project continues to deliver outstanding results. To have identified further potential high-grade ridges is very encouraging and, once the weather permits, we will aim to continue our programme of drill testing.
Power Metal Resources PLC (LON: POW) updated for the Ditau Project located in southwestern Botswana. The Ditau Project is held by Kanye Resources Pty Ltd (“Kanye Resources”), a Botswana joint venture company in which Power Metal and Kavango Resources plc (LON: KAV) each hold a 50% interest.
Ditau is targeting rare-earth element (“REE”) discoveries. A diamond drill rig is now being mobilised to the first drill location and drilling is expected to commence within the next few weeks.
Pursuant to the announcement of 21 March 2022, the Board of Atlantic Lithium Limited (AIM: ALL), the fully-funded, African- focused lithium exploration and development company on track to become West Africa’s first lithium producing mine, is pleased to announce the appointment of Lennard Alexander Kolff Van Oosterwijk to the Board of Directors and also as the Company’s Interim Chief Executive Officer.
Sir Mick Davis, a former Tory treasurer and mining veteran, is investing £25m in a historic Cornwall tin mine. Vision Blue Resources, the investment fund he created and is now chief executive of, has taken a 25pc stake in AIM-listed Cornish Metals. This company plans to reopen the South Crofty Tin mine.
After a decline in tin prices, the mine was shut down in 1998. It had been in operation for approximately 400 years. Vision Blue Resources’ investment is part of a £40m fundraise from Cornish Metals, which will pay for water pumping and feasibility studies.
Prices for tin have nearly doubled between 2021 and October at $40,000 per ton. Tin is in high demand for products such as cars and electrical connections.
Alien Metals Limited (AIM: UFO) Update on Mexican Silver and Copper Projects. Drilling of the Company’s high-grade silver projects in Mexico has begun with a highly accredited local drilling group engaged to complete the diamond programme.
The first holes to be drilled will be at the San Celso Silver Project. Drilling at the San Celso and Los Campos Silver Projects will target the mineralised vein systems previously exploited for their high-grade silver where head-grades in excess of 1,000 g/tsilver were historically reported.
In addition to the high-grade silver projects, the Company is also drilling at the Donovan 2 Cu-Au Project. Drilling at Donovan 2 will target a potentially significant copper zone that has been associated with a previously reported sample of 3.34% Cu taken in the Los Alamos water well
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