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

Analysts from Barclays express a positive outlook on Endeavour Mining PLC, affirming it as their favourite equity exposure to precious metals in Europe. The company’s inclusion in the MSCI Standard Development Market indices is a significant development.

Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF) is nearing production at the Empire Mine, planning to finance the first production with minimal additional dilution to shareholders. The company’s investment in the Empire Mine has grown to US$33.10mln from US$26.12mln in 2022.

Premier African Minerals Ltd (AIM: PREM) is anticipating its initial shipments of Spodumene (SC6) from the Zulu lithium and tantalum project in Zimbabwe this June. If production rates and concentrate prices remain consistent, the company predicts profitable operations by August end.

Panthera Resources PLC (AIM: PAT) released promising results from the Cascades gold project’s drilling programme, completing Phase Two, which includes analytical results from approximately 10,000 metres of drilling.

European Metals Holdings Ltd (AIM: EMH, ASX: EMH, OTCQX: EMHLF) announced favourable results from metallurgy tests on ore from its Cinovec lithium deposit, with a flotation process repeatedly achieving more than 95% recoveries.

Jefferies brokerage finds that share prices of Rio Tinto, BHP and Vale do not reflect current iron ore spot levels, presenting these mining giants as good investment opportunities.

Tata Group, the owner of Jaguar Land Rover, plans to construct a ‘gigafactory’ in Somerset for battery production for its electric vehicles. Tata chair Natarajan Chandrasekaran is set to meet the UK prime minister, with the final decision hinging on the size of the state support package.

Corcel PLC (LSE: CRCL) announced its agreement to acquire a majority stake in Atlas Petroleum Exploration Worldwide (APEX), planning to reestablish production in the oil fields of Angola.

As part of its global expansion strategy, Mkango Resources Ltd (AIM: MKA, TSX-V: MKA, OTC: MKNGF) appointed Philipa Varris as an independent non-executive director, emphasizing its commitment to maintaining high standards of sustainability.

Shares of URA Holdings PLC (LSE: URAH) climbed 14% higher on Tuesday morning following the company’s announcement that it successfully raised £280,000 via an oversubscribed placing and subscription. This involved issuing 14,000,000 new ordinary shares at a rate of 2.00p per share.

The fundraising was carried out at a 10% discount to the mid-market closing price on May 19, 2023. It also conforms with the company’s standing authority to issue shares for cash on a non-preemptive basis.

Future Metals NL (ASX: FME, AIM: FME) has initiated 2,000 metres of reverse circulation drilling at its Panton North property in Western Australia.

Bradda Head Lithium Limited (AIM: BHL, OTCQB: BHLIF, TSX-V: BHLI) shared promising assay results from its 2023 Basin East Extension (BEE) drill programme in Arizona.

Landore Resources Ltd (AIM: LND, OTC: LNDLF) is undergoing significant board and management changes, with a new chairman and CEO announced.

JSC Polymetal, a subsidiary of Polymetal International PLC (LSE: POLY), was added to the US Specially Designated Nationals and Blocked Persons list, causing a 10% drop in share value in early trading.

ECR Minerals PLC (AIM: ECR) has decided to focus its exploration activities in North Queensland, following underwhelming results from Victoria.

Andrew Haythorpe, the CEO of ECR Minerals, noted in a statement, “The board has now received assay results from our drilling activities in Victoria. However, they weren’t as promising as we had initially anticipated.”

Shanta Gold Limited (AIM: SHG, OTC: SAAGF) has announced that its new Tanzanian mine, Singida, is progressing well towards commercial production, with two shipments already dispatched. The company’s Chief Executive, Eric Zurrin, highlighted that their attention has now returned to exploration and reserve expansion.

Andrada Mining Ltd (AIM: ATM, OTC: AFTTF) has successfully completed its inaugural lithium concentrate batch from its pilot project located near Uis in Namibia. In a statement, the company noted that prospective offtake partners have shown interest, considering this concentrate blend as a favourable lithium product.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.