Share Talk Weekly Mining Sector News Round-Up, 9th January 2022

Kazakhstan produces more than 40% of the world’s uranium and unrest in the country saw prices of the radioactive metal surge.

UxC data shows that Uranium prices rose almost 8% to $45.25 per pound on Wednesday, up from $42 Tuesday. This turmoil could cause more dependence on suppliers from Kazakhstan. It could also result in an increase in shares of uranium companies located in North America or Australia.

Kazakhstan is the No.1 uranium supplier in the world. According to Jonathan Hinze, president and CEO of UxC LLC (a leading research and analysis company in nuclear fuel market research), Kazakhstan is the No. 1 uranium supplier.

Kibo Energy PLC (AIM: KIBO), announced that it has settled outstanding fees owing to directors and management by the issue of a 7% Convertible Loan Note Redeemable Instrument (“the Convertible Instrument”). The Convertible Instrument provides for the issue of unsecured redeemable convertible loan notes (“the Notes”) of integral multiples of £1 each to the aggregate amount of £672,824.

Pembridge Resources PLC, (LSE: PERE) Minto Metals Corp has reached an agreement with Capstone Mining to delay a portion of the contingent component of the purchase price. Copper production increased by 46% to 26mln pounds last year.

Minto purchased Pembridge’s original acquisition for US$20mln. Minto paid US$5mln in March 2013 and was due to make the final payment of US$15mln before the end of last month.

Eurasia Mining Plc (AIM: EUA), announced that the Board has adopted the Company’s Dividend Policy (the “Policy”) further to the requests from Eurasia’s shareholders.

Christian Schaffalitzky, Executive Chairman of Eurasia commented: “The Directors are pleased to approve the Company’s Dividend Policy targeted at better governance and transparency, while we are implementing our strategy as announced “.

Gemfields Group Limited, (AIM: GEM), has confirmed that it reduced its direct stake at Sedibelo Platinum Mines Limited to 6.54% following a simplified ownership structure for the platinum mines owners.

Gemfields held its stake through Pallinghurst Ivy Lane Capital. This investment vehicle held a 27.64% share in SPM which owns the Pilanesburg Platinum Mines.

Strategic Minerals PLC, (AIM: SML) stated that it has submitted a revised Environmental Protection and Rehabilitation program (PEPR) for the Leigh Creek Copper mine with the Department of Energy and Mining of South Australia in order to address certain conditions of the July approval.

It has taken samples of cover to be used in the waste rock dumps, and then tested and analysed the material in an erosion model. This was done to assess cover designs and evaluate the acid-forming nature of the ore.

Power Metal Resources PLC, (AIM: POW). chief executive Paul Johnson stated that the company’s final quarter in 2021 was a success and has prepared it for the next year.

Quarter One included a 1,092-metre drill program at the Tati Project in Botswana, the attainment of bonanza grade silver in 10 of the 19 drillholes during Phase I Silver Peak in Canada, and rock sampling programmes and prospecting programs at the Clearwater uranium properties of Saskatchewan, Canada. These results produced high-grade assays.

British Lithium Limited produced lithium carbonate from mica in granite at a pilot scale in its pilot plant near Roche took a major step toward commercial production in the UK, which is a boost to the country’s electric vehicle drive.

The pilot plant of the company in Cornwall can now produce 5kg of lithium carbonate per day, which is more affordable for mass-market cars than the lithium hydroxide used to make more expensive models.

The key to decreasing dependence on China is mining the metal and using it to make batteries in Britain.

Oracle Power PLC, (AIM: ORCP ) declared that the results of its maiden drill program at the Northern Zone Gold Project located 25 km from Kalgoorlie, Western Australia was “a tremendous achievement”.

According to the company, the drilling was successful in locating gold mineralization within a series of stacked porphyry intrusions.

Naheed Memon, CEO of Oracle, commented: The gold system we have encountered at Northern Zone, has significant scale, with an exploration target of 2.5 to 4.8Moz gold, and with the widths of mineralisation intersected in this and historical drill programmes, gives us confidence to move the project forward with the next phase of drilling. This is a huge achievement and gives us the first tangible sense of what a significant gold mining project Northern Zone could become.

Oriole Resources PLC, (LSE: ORR), has announced the results from a soil sampling program at the Bibemi Gold Project in Cameroon.

The analysis included 1,455 samples from the southern half Bibemi. These were extended and filled with historical sampling grids.

Rambler Metals and Mining plc (AIM: RMM) announces an impact to mining due to a shortage of operators at its Ming Copper-Gold Mine, located in Eastern Canada.

There has been a substantial rise in Covid-19 in Newfoundland, as there has been around the world. The province has implemented some of the strongest protocols for protection against Covid-19 and Rambler has adopted further measures over and above these. This includes a Company policy of mandatory full vaccination against Covid-19 for all persons coming to the mine site.

As a precaution against the transmission of Covid-19, since 31 December 2021, a number of critical operators have been in isolation and unable to attend the mine site due to a positive PCR test result received prior to reaching the mine site. It is emphasised that to date, no cases of Covid-19 have been recorded for any employees or contractors that have attended the mine site.

Caledonia Mining Corporation PLC (AIM: CMCL) declared a quarterly dividend at US$0.14 per share.

The company has a solid track record of dividend-paying. In fact, it has increased its payout by more than 100% in the past two years.

Conroy Gold and Natural Resources PLC, (AIM: CGNR), is a gold exploration and development company that focuses on Ireland. They have signed a full-blown joint venture agreement with Turkish company Demir Export.

Conroy Gold holds the licenses in the joint venture along with its 65km district-scale gold trend in Longford-Down Massif, Ireland.


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