Greatland Gold PLC (AIM: GGP) announce it has successfully renegotiated its obligations with respect to the contingent consideration due under the original 2016 acquisition of the Havieron project.
Shaun Day, Managing Director of Greatland Gold plc, commented: “This is an excellent outcome, simultaneously removing the uncertainty of this long-standing share issue, reducing shareholder dilution by decreasing the number of shares being issued and introducing a two-year restriction on dealing with the shares.
https://twitter.com/Share_Talk/status/1547564015978655745?s=20
“The acceptance of these terms demonstrates the confidence Five Diggers has in Greatland, together with their conviction in the Havieron project, reflecting the tremendous evolution in its understanding and potential.
Premier African Min (AIM: PREM) report on assay results at Premier’s Zulu Lithium and Tantalum Project (“Zulu”).
George Roach, CEO commented, “The results set out below are again impressive. Notable is the continued pervasive Tantalum and Rubidium presence.
The results reported are from boreholes within the existing resource area and are part of the ongoing programme that is intended to upgrade confidence in the original resource estimate from an inferred level to an indicated level.
At the same time, we have reviewed all the previous work done prior to January 2022 and adjusted the geological model as indicated.
The work to date has provided the level of confidence we needed internally to support the pilot plant concept as recently announced. In fact, what we are now understanding about the Zulu deposit is entirely complementary to the use of sensor-based ore sorting and in time is likely to result in a most efficient and effective process.
Botswana focussed metals exploration company Kavango Resources plc (LSE: KAV) publish the Independent Valuation (the “Valuation Report”) conducted by Afrasia Mining and Energy Investment Holdings Ltd (“Afrasia”) of the mineral exploration assets of Kanye Resources Proprietary.
@KavangoRes CEO Ben Turney & COO Brett Grist #KAV interview with @Alan__Green via @Brand_UK https://t.co/deIXP4ALDB
— Share_Talk ™ (@Share_Talk) July 14, 2022
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“Today’s independent valuation report underlines the commercial rationale for the deal we recently struck to acquire the 100% working interest in Kanye Resources. The sound fundamentals of the transaction were nicely balanced for both parties.
Afrasia has undertaken a detailed piece of work which shows an established Preferred Valuation for Kanye of US$8.0m.
Jubilee Metals Group (AIM: JLP) 14.17p, Mkt cap £377m, Zambia Progress Update.
Update at its Zambian operations where the integration of the Sable Copper and Cobalt refinery with the newly constructed copper concentrator, Project Roan, continues as part of Jubilee’s Southern Refining Strategy.
Leon Coetzer, CEO, commented: “Reaching these significant milestones announced today put us in great stead for the financial year ahead, and beyond. It is a testament to all the hard work by the Jubilee team that over the past 12 months has delivered on a bold implementation plan across both the PGM and chrome operations in South Africa and the copper and cobalt operations in Zambia.
https://twitter.com/Share_Talk/status/1547562285475827714?s=20
Horizonte Minerals Plc (AIM: HZM, TSX: HZM), announced that it has awarded all major and long-lead-time process plant equipment contracts for the Company’s flagship Araguaia Nickel Project.
Following completion of the competitive tender processes, and detailed negotiations, the Company has now secured equipment supply and technical support services for the balance of the Araguaia process flow sheet from leading global suppliers.
This is in line with the strategy employed for the award of the furnace contract to Hatch Ltd. earlier this year (see announcement dated 25 February 2022).
Rambler Metals and Mining (AIM: RMM) 21.25p, Mkt Cap £34m – June hits 2% copper head grade target with new monthly and quarterly records for copper output.
- Rambler Metals & Mining’s June report on monthly performance, which was included in the H1-2022 operating results, was released yesterday afternoon. It reports that the average copper feed grade reached 2.02%, the level previously mentioned as a goal for 2022.
- Copper feed grades increased steadily over the quarter to 30 June from 1.56% in April, to 1.58% in May, and to 2% in June. Higher grades were made available from the Upper Footwall or Ming North zones. Gold grades have also improved from 1.46g/t to 0.41g/t between April and June.
- The Nugget Pond copper concentrate production has steadily increased from 1,341t to 2,347t by June. This brings the quarter total to 5,890t (Q1-2022 – 4,191t, and Q2-2021 – 2,502t). With the Q1 2022 total at 1,569t (Q1-2022 – 1,066t andQ2 2022 respectively – 673t), the quarter total to 1,569t.
@ecrminerals Creswick: ''one of the #gold jewels in the portfolio'' #ECR pic.twitter.com/CFS5nIQAw1 https://t.co/HpAUK5QsiD
— Share_Talk ™ (@Share_Talk) July 14, 2022
Russian gold miner Petropavlovsk collapses as sanctions claim a major scalp. After being hit hard by Western sanctions, a London-listed Russian miner has been forced to go bankrupt.
Petropavlovsk has reported that its share price fell 94pc in the past year. It will now apply for administration at The High Court.
It also requested that trading in its shares and convertible bonds be suspended on the London Stock Exchange.
Due to Russian sanctions, Petropavlovsk is having difficulty repaying nearly $300m to Gazprombank, its largest lender.
Great Western Mining (AIM: GWMO) MOU for the creation of JV to process gold and silver. The company signed a non-binding Memorandum of Understanding to create a Joint Venture (“JV”) with an experienced Nevada mining contractor, for processing gold and silver from waste material on its mineral concessions in Nevada.
https://twitter.com/Share_Talk/status/1546761489746481153?s=20
Great Western and its proposed partner are currently negotiating a fully-termed operating agreement which will follow a standard industry format used in Nevada.
The JV will process material using both gravity separation and a contained flotation system, full details of which will be announced upon signing of the formal agreement.
Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted USA-focused base and precious metals emerging producer and exploration company, is pleased to announce that the Company’s 2022 drilling programme is underway at the Empire Mine Project in Idaho, USA.
The 2022 drilling programme is expected to further Phoenix’s understanding of Ammonium Thiosulfate (“ATS”) as a non-toxic, environmentally friendly reagent for the recovery of copper, gold, silver, and zinc from the Empire open pit resource.
Market Summary > @CaracalGoldplc
LON #GCAT
0.90 GBX+0.27 (42.41%)⏫past 5 days
14 Jul, 16:35 BST • Disclaimer
Started the week with an announcement of an increased Mineral Resource Estimate for the Kilimapesa Hill Deposit at Kilimapesa gold mine & Processing Operation in Kenya https://t.co/y61SrqX1aG pic.twitter.com/NMSlXJn54v— Share_Talk ™ (@Share_Talk) July 14, 2022
Caracal Gold PLC (LON: GCAT) Increased Mineral Resource estimate for Kilimapesa Gold Mine.
Highlights
- Expanded Measured, Indicated and Inferred Resource of 12.15Mt @ 1.5g/t gold for 565.7koz contained gold for the Kilimapesa Hill Deposit, following a successful resource expansion drill campaign.
- Significant 202% increase in the Measured and Indicated category, with 56% of the contained ounces (317.6koz) now in Measured and Indicated (previously 105koz).
- Result supports at least a 10-year Life of Mine for the current Project expansion, targeting 24,000oz per annum production.
Robbie McCrae, CEO of Caracal Plc said, said, We are delighted to announce the updated MRE for the Kilimapesa Hill Deposit.
“This significant increase in the quality of the resource at KHD has further strengthened the Project team’s confidence and justifies our decision to expand production at Kilimapesa to 24,000oz per annum, with the ounces contained in the Measured and Indicated category now able to be converted into reserves to support the mining and processing plant.
@KavangoRes CEO Ben Turney & COO Brett Grist #KAV interview with @Alan__Green via @Brand_UK https://t.co/deIXP4ALDB
— Share_Talk ™ (@Share_Talk) July 14, 2022
Botswana focussed metals exploration company Kavango Resources plc (LSE: KAV) said it has identified a cluster of three electromagnetic conductors within Target Area B in the northern section of the Kalahari Suture Zone (“KSZ”).
The size and orientation of these conductors conform to an idealized model for the Talnakh and Kharaelakh massive sulphide nickel/copper/platinum group element orebodies at Norilsk. This fits both the ‘Norilsk Model’ Kavango has used in its exploration for large-scale Ni-Cu ore bodies in the KSZ, as well as a more detailed Ni-Cu-PGE orebody model.
Kavango has ranked the three EM Conductors as priority targets for future drilling.
ECR Minerals plc (AIM: ECR) Drill Results from BH3DD035 Show Signs of Grade Continuity at Bailieston, Victoria, Australia.
ECR CEO Andrew Haythorpe commented: “At last week’s investor presentation I outlined our commitment to continue the intensive drilling campaign into the second half of 2022. The assay results from hole BH3DD035 indicate signs of grade continuity in line with those already recorded at holes BH3DD012, BH3DD019 and BH3DD034, and from a technical standpoint provides our team with confidence in the Maori Anticline campaign outcome. I look forward to reporting the remaining assay results.”
“As I also indicated, along with Technical Director Adam Jones I am personally excited at the prospect of commencing our Blue Moon drilling campaign. With my geologist hat on, this asset presents an intriguing opportunity for us all.”
Thor Mining PLC (ASX, AIM: THR) announced the completion of the drilling program at the Company’s 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia.
- Thor drilled 48 reverse circulation (“RC”) holes totalling 3,120m at Ragged Range over the last three weeks.
- Drilling tested both structural and geochemical targets along the Sterling Prospect 13km gold corridor, with 11 drill traverses completed
- Drilling targeted interpreted dilational zones associated with faulting and folding along the regional thrust faulted contact between the mafic and ultramafic units.
- The drilling program also included 1 drillhole at the Krona Prospect to test the electromagnetic (“EM”) conductor recently identified beneath the nickel gossan (AIM: THR 17 June 2022). This hole has been cased in preparation for a Downhole Electromagnetic Survey (DHEM).
- Assays have been expedited to a laboratory in South Australia, with results anticipated in August – September 2022.
https://twitter.com/Share_Talk/status/1546483395156484097?s=20
Nicole Galloway Warland, Managing Director of Thor Mining, commented:
“Thor has successfully completed its second phase of drilling at the Sterling prospect, testing several exciting structural targets associated with complex faulting and folding along the 13km gold corridor. We were pleased to also drill test the Krona nickel-copper Fixed Loop Electromagnetic target as part of this drilling program.
We now eagerly await assay results and look forward to updating the market as results come through.”
The opinions expressed here are those of the author
Disclaimer: This blog is provided for general information and It does not constitute investment advice, not buy or sell shares, warrants or bonds in any companies written about within the blog. Information is taken from publicly available sources and any comment is that of the author.
