Caracal Gold plc (LSE: GCAT) provided an update on the Board’s decision to accelerate the implementation of the final phase of its’ initial three-phase operational plan to further increase gold production to 24,000ktpa and improve efficiencies at its flagship Kilimapesa Gold Mining and Processing Operations in Kenya.
“We are both encouraged and excited to move very quickly to the next phase of development and operational activities at our flagship project, which once completed, will see gold production achieve the targeted levels of approx 24,000oz pa,” according to Robbie McCrae, chief executive of Caracal Gold.
Read the full update here: https://caracalgold.com/investors/regulatory-news/
Shanta Gold Limited (AIM: SHG) has updated the resources and reserves at its projects in Tanzania. The company’s total JORC 2012 compliant gold resources now stand at 645,000 ounces grading 3.04g per tonne across its two projects in Tanzania. This is an increase of 20,000 ounces net depletion.
Bens Creek Group PLC (AIM: BEN) is the owner of a reopened metallurgical coke mine in West Virginia. It has been paid part of its first shipment of metallurgical to Integrity Coal Sales Inc., New York. Integrity is the offtake partner of the company.
Savannah Resources (AIM: SAV) Barroso Lithium Project Update, advises that its wholly-owned subsidiary, Savannah Lithium Ltda., has been joined as the counter-interested party in litigation brought by the Parish of Covas do Barroso as the plaintiff in the Mirandela Fiscal and Administrative Court in Portugal against the Republic of Portugal and the Ministry of Economy as defendants.
Trident Royalties Plc (AIM: TRR) released an update on activities undertaken during the fourth quarter to 31 December 2021. Q4 saw the acquisition of a portfolio of immediately cash generative gold offtakes, as well as substantial asset level progress across its portfolio. For the full report click here: https://tridentroyalties.com/news
The portfolio’s number of producing assets increased by 350% and royalty payments were “poised to substantial increase” in this year.
Adriatic Metals PLC (LSE: ADT1) stated that it was pleased with its accomplishments in the fourth quarter to 31, December 2021. This saw the Vares Silver Project in Bosnia & Herzegovina securing financing through to production. Production is expected to start in the second quarter of 2023.
Alien Metals Limited (AIM: UFO) Continued high-grade iron ore results from the Hancock project in the Pilbara Region of Western Australia. The company recently completed the excavation of a bulk sample weighing 2,378kg of high-grade iron ore from the Ridge C resource
A series of grabs taken from the bulk sample have returned high-grade results with an average grade of 62.2% Fe across the samples and low levels of impurities. The sampling indicates that the high-grade material commences from less than 1m below the surface.
Tharisa Plc (LSE: THS) has signed an agreement to develop a solar power station to supply electricity to the Tharisa Mine, South Africa. According to the platinum group metals and chrome producer, it has signed a memorandum (MoU), with Chariot Ltd and Total Eren, a renewable energy producer.
Harvest Minerals Limited (AIM: HMI) released a new corporate presentation which is available on its website www.harvestminerals.net. Additionally, Executive Chairman, Brian McMaster, will provide a live investor presentation via the Investor Meet Company platform on Tuesday 8 February at 9:30 am GMT to discuss the company’s recent robust sales update and plans for the future. Investors can sign up to Investor Meet Company for free and add to meet Harvest via: https://www.investormeetcompany.com/harvest-minerals-limited/register-investor.
Investors who already follow Harvest on the Investor Meet Company platform will automatically be invited.
Xtract Resources Plc (AIM: XTR) advised that independent laboratory assays have been received for drill hole BRDD-021-019 on the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.
Colin Bird, Executive Chairman said: “This again is a very satisfactory result which being in the central area was anticipated. The position of the hole and the result will be included in the modelling adding veracity to the overall resource modelling.
Edenville Energy Plc (AIM: EDL) announced its subsidiary Edenville International (Tanzania) Limited (“EITL”) has entered into a contract with Nextgen Coalmine Limited (“Nextgen” or the “Contractor”) for the operation of the Company’s Rukwa Coal Project (“Rukwa” or the “Project”) in Tanzania.
Under the Agreement the Contractor will pay EITL a royalty of US$10 per tonne of washed coal sold and a royalty of US$5 per tonne of any coal fines sold. The Contractor intends to utilise existing EITL employees and equipment where appropriate, as well its own, to increase production, sales and ultimately the profitability of operations.
Vast Resources Plc (AIM: VAST) informed Botswana Diamonds Plc and Gem Diamond of its intention not to proceed with the acquisition of the Ghaghoo Diamond Mine, as announced on 23 August 2021. The parties are working closely together to ensure a mutually beneficial outcome.
In addition, Vast released an update on its producing Baita Plai Polymetallic Mine in Romania. Q4 2021 saw an increase of 88% in ore tonnes milled from the start to the end of the quarter, primarily as a result of a second sub-level that was implemented. The copper concentrate production increased by 62% over the period. Underground development remains a key focus for Vast and various work streams are underway.
Arkle Resources plc (AIM: ARK) updated that drilling has commenced on the Stonepark group of licences in Limerick. The Stonepark project is a joint venture with Group Eleven Resources Corp., who hold a 76.56% interest and Arkle the remaining 23.44%.
The first hole of a six-hole programme totalling 2,300 metres began yesterday. The hole at Carrickittle North has a target depth of 750 metres and is a 250-metre step out from the previous drilling.
Cora Gold Limited (AIM: CORA) DFS Field Work Complete for Sanankoro Gold Project. All hydrogeological and geotechnical drilling, associated pump testing and geotechnical test pits have been completed on schedule
Field-based sampling work is now complete and final samples are being dispatched to the relevant laboratories with metallurgical test work is ongoing.
Price of iron ore reaches 5-month high on China demand, Australia supply worries. Iron ore is experiencing a rally that has been largely driven by two factors that are yet to occur: a renewed Chinese building boom and supply disruptions in Australia, which are both still unknown.
The iron ore price rose on Friday due to a combination of fears and hopes that China’s increased monetary easing would spur demand.
Fastmarkets MB reports that benchmark 62% Fe fines were being traded for $147.42 per tonne in morning trading. This is 5.7% more than Thursday’s closing.
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