Technology Minerals (LSE: TM1) The Company has completed the sale of an initial 10 per cent interest in the Company’s registered claims in its wholly-owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project (collectively “the Properties”), Lemhi County, Idaho, United States of America, to Bluebird Metals LLC for a cash consideration of £900,000.
The sale agreement also includes a proposed option for the Buyer to acquire a further 20 per cent interest in the Properties for a further cash consideration of £1.8m. The option is exercisable within a 6-month period from the date of the signing of the detailed Purchase Agreement regarding the Proposed Sale.
@PowerMetRes Corporate Presentation May 2022 #POW London AIM listed company which finances and manages global resource exploration projects https://t.co/9XfbSwMD8L
— Share_Talk ™ (@Share_Talk) May 19, 2022
Power Metal Resources plc (LON: POW) update to shareholders in respect of the Selta Project (“Selta” or the “Project”).
Selta is 100% owned by Power Metal’s 82.78% owned subsidiary First Development Resources Limited (“FDR”).
FDR is planning to list on the London capital markets in Q3 2022 (the “IPO”) and is focused on district-scale exploration opportunities in Australia.
#Breaking Advisers to London-listed gold miner Petropavlovsk #POG quit as Russian sanctions bite https://t.co/2M6ENkx9hi
— Share_Talk ™ (@Share_Talk) May 20, 2022
Caracal Gold plc (LON: GCAT) announced an update on its operations and exploration activities for the quarter ended 31 March 2022 (the ‘Quarter’ or ‘Q1’); specifically, its producing Kilimapesa Gold Mining and Processing Operations in Kenya.
Increased production and processing output versus Q4 2021 as Caracal targets production of 24,000 ounces of gold per annum. Acceleration of the final phase of the 3-phase operational plan at Kilimapesa to improve efficiencies.
@CaracalGoldplc (LON #GCAT) Q1 2022 Operations Update
· Increased production and processing output versus Q4 2021 as Caracal targets production of 24,000 ounces of gold per annum.
· First 5,000t pilot heap leach pad successfully commissioned https://t.co/rZvNODJbac— Share_Talk ™ (@Share_Talk) May 20, 2022
Robbie McCrae, CEO of Caracal, said,
We are delighted with the sterling progress made in the first quarter – with the expansion of our team and appointment of a new mining manager, exploration manager and also the Hon. Ambassador Dan Kazungu and ESG expert Rachel Johnston. All are a major boon for the Company as it commences a next phase of growth acceleration at Kilimapesa and gets ready to fire the starting gun at our new acquisitions in Tanzania.
Starting the open pit workings on Kilimapesa Hill has added significant capacity and is providing the flexibility to focus on underground development to increase the overall production to the planned 24,000 ounces pa target.
Alba Mineral Resources plc (AIM: ALBA) announces its Final Results for the year ended 30 November 2021. With Multiple projects advanced in the UK and Ireland.
@AlbaMinerals (AIM #ALBA) Final Results for the year ended 30 November 2021
Multiple projects this year, including;
✅ Clogau-St David’s Gold Mine
✅ Gwynfynydd Gold Mine
✅ Dolgellau Gold Exploration Project
✅ Limerick Base Metals Project https://t.co/0426X7YbsY— Share_Talk ™ (@Share_Talk) May 19, 2022
George Frangeskides, Executive Chairman: Our overall objective is to unearth hidden value from previously drilled or mined projects and to this end we are advancing multiple projects in the UK and Ireland including the Clogau-St David’s Gold Mine, the Gwynfynydd Gold Mine, the Dolgellau Gold Exploration Project, and the Limerick Base Metals Project. Additionally, we hold significant stakes in two investee companies: GreenRoc Mining plc (‘GreenRoc’), a Greenland-dedicated listed vehicle, which we spun out during the year to fast-track the development of its advanced graphite and ilmenite projects; and Horse Hill Developments Ltd (‘Horse Hill’), a UK based oil producer.
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), announced that a heritage survey has been completed at the Company’s Red Setter Gold-Copper Project located 13 km southwest of the Telfer Gold Mine, in the Patersons Range of Western Australia.
The survey did not identify any heritage sites at Red Setter. The additional surveys have increased access to peripheral targets beyond those already cleared, where drilling will start in the next few weeks. The heritage survey team has now moved down to the Cottesloe Project located 55 km south-southwest of the Telfer Gold Mine.
The first phase of the drilling is for 3,000m at Red Setter, with the second phase of the contract for a further 7,000m of drilling split between WSBN’s Red Setter Project which has heritage clearance, and the Company’s Cottesloe Project to the south, subject to the ongoing heritage survey.
The drill rig is still on track to start drilling later this month and I look forward to the rig mobilising from Perth.
Horizonte Minerals Plc (AIM: HZM, TSX: HZM), Stated that the Company has officially commenced construction and broken ground at its flagship Araguaia Nickel Project
A groundbreaking ceremony was held on 18 May 2022. This key milestone marks the transition of the project from the development to the construction phase. This Tier 1 project has a 24-month construction timeframe with Stage 1 (first line) target production of 14,500 tpa of nickel. Araguaia will be a large high-grade, scalable, low-cost producer, with a long mine life and will be a low-carbon source of ferronickel.
As of the end of April 2022, the Company had awarded contracts totalling US$204 million with a further U$66 million of contracts to be awarded imminently, on budget. In total this represents approximately 50% of our pre-contingency project direct capex.
Great Western Mining Corporation PLC (AIM: GWMO), which is exploring and developing gold, silver and copper targets in Nevada, announced the commencement of its 2022 drilling campaign.
The Company has contracted a reverse circulation (RC) rig for a drill programme of approximately 11,000 ft (3,350 m), which has now commenced at the Southern Alteration Zone (SAZ) in the Rock House group of prospects. Three initial holes are planned at the SAZ to follow up on the encouraging results from the 2021 programme, where the best intercepts were (1) 1.52 metres at 8.02 g/t gold from 97.53 metres downhole in hole RHRC006 and (2) 1.52 metres at 2.29 g/t gold from 28.95 metres downhole in hole RHRC007. Drilling is targeting the continuation of veins already identified.
Great Western Chairman Brian Hall commented: “We have a busy drilling season now underway on several of our prospects and will keep shareholders informed as we make progress.”
Botswana Diamonds (AIM: BOD) Geophysics identifies anomalies indicative of kimberlite pipes.
High-interest anomalies were indicative of kimberlite pipes discovered in the vicinity of the KX36 diamond discovery.
Chairman, John Teeling commented: “These results strongly support our view that other kimberlites remain to be found in the vicinity of our 100% owned KX36 diamond discovery. If these anomalies prove to be diamondiferous kimberlites it will enhance the commercial prospects of the existing KX36 discovery. We will now do follow up work to target drill sites”.
“From famine to feast” A catch-up with Paul Johnson, CEO at Power Metal Resources
Edenville Energy Plc (AIM: EDL) provided an update on operations at its Rukwa coal project in Tanzania
Since entering into a contract arrangement with NextGen Coalmine Ltd (“NextGen”) in early 2022, both the international and domestic coal price has increased significantly. This has coincided with heightened interest from potential customers to enter into an offtake agreement for coal from Rukwa. At the same time, as announced on 4 May 2022, Edenville has yet to enjoy any material benefit from the contract mining arrangement due to operational issues, which it is seeking to have addressed.
Alistair Muir, CEO of Edenville, commented: “Since entering into the agreement with NextGen a number of things have changed on a macro level that have made the economics of Rukwa considerably more attractive. The Company is determined to maximise cash returns in the current global coal environment, especially given the attractive pricing forecast over the coming years. Given its current financial position Edenville now has capacity to expand operations organically and to meet this heightened demand. I expect to be able to further update the market in the near term.”
Power Metal Resources plc (LON: POW), update from the Ditau Camp Project located in southwest Botswana.
Ditau is considered prospective for carbonatite hosted rare-earth element (“REE”), base-metal and possible precious-metal mineralisation.
Ditau is held within a 50/50 Joint Venture (“Kanye Resources” or “Kanye”) with London-listed Kavango Resources plc (LSE: KAV). Kavango is the operator.
https://twitter.com/Share_Talk/status/1526848195778822144?s=20&t=8IJkO_59GwXuNqjcG2MWeA
MetalNRG PLC (LON: MNRG) Gold Ridge – Results from Geochemical Sampling. The company completed its Phase I geochemical campaign at its Gold Ridge Gold mine property in Arizona with very encouraging results that pave a pathway to further exploration work to be focussed and planned.
MetalNRG has completed just under 600 (Phase I) of the 1,000 geochemical samples planned. The laboratory analysis was conducted for Gold, Silver and 49 other elements by ALS Chemex. The largest gold anomalies were found in historical areas mined for gold; however, a secondary zone of gold anomalies was found in an area previously unexplored and delineates a new linear zone of gold mineralization in the Southern Precambrian block.
Bart Stryhas, Senior Geologist on the project, commented: “These results confirm our previous beliefs, that there is indeed a real possibility of a larger un-discovered gold/base metal system at Gold Ridge; we are now working with the Board to establish the next steps.”
Kavango Resources plc (LSE: KAV) successfully completion of exploration hole DITDD004.
DITDD004 was drilled to a depth of 389m into the i10 Target, a discrete 2.2km diameter magnetic anomaly that Kavango had previously modelled as a possible carbonatite. DITDD004 appears to have intercepted the magnetic anomaly at the projected target depth.
Kavango’s field team has taken preliminary magnetic susceptibility readings on the core recovered from DITDD004. The team observed highly elevated magnetic readings between 293m and 321m (the “Zone of Interest”). These readings from the Zone of Interest coincide with a visibly altered section of rock that the Company will immediately cut half-core samples from and send for whole rock analysis.
The core from DITDD004 contains visibile siliceous and haematitic zones, with pyrite seen both as dissemination and in veins. Extensive fracturing (brecciation) is observed in the Zone of Interest and elsewhere in the hole.
Cora Gold Limited,(AIM CORA) Updated on the second set of drill results from its recently completed 2022 drill programme at the Company’s Sanankoro Gold Project in southern Mali.
Bert Monro, Chief Executive Officer of Cora, commented, “The latest results from Zone B North once again show shallow oxide mineralisation of good widths and grade. 17m at 2.85 g/t Au is a very positive drill hole as we target upgrading the Zone B North deposit to Indicated Resources. We look forward to releasing the results from the final phase of the programme, which focussed on Selin and follow-up holes at the new discoveries at Fode 1 and Target 6, in the coming weeks.”
@eurasiamining Artem Matyushok has been appointed as an Independent Non-Executive Director of #EUA with immediate effect. Artem Matyushok served in senior M&A roles with major Natural Resource companies: total value of M&A deals executed is over $100bn https://t.co/RUhPpGQaBs https://t.co/7EY2wQoGaW pic.twitter.com/SlY5cblRFa
— Share_Talk ™ (@Share_Talk) May 18, 2022
Eurasia Mining Plc (AIM: EUA) announced that Artem Matyushok has been appointed as an Independent Non-Executive Director of Eurasia with immediate effect.
Mr Matyushok holds no ordinary shares or options in the Company.
Christian Schaffalitzky, Executive Chairman commented: “The Directors are pleased that Artem Matyushok, a high profile M&A professional has agreed to join Eurasia. The experience of Artem and his knowledge of Eurasia can significantly speed up our Russian assets sale process”.
James Nieuwenhuys, CEO and Managing Director of Eurasia commented: “We welcome Artem Matyushok on board to progress our M&A journey”.
The Board of Xtract Resources Plc (AIM: XTR) Stated that independent laboratory assays have been received for two further drill holes, BRDD-22-031 and BRDD-22-038 from the Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.
Colin Bird, Executive Chairman said: “I am pleased that we are adding real strike to the Ascot deposit and increasing our understanding of the system. Both holes intersected mineralisation and once again short interval gold intercepts were encountered, indicating a good potential for gold at Ascot.
Modelling continues at the project, with the Racecourse prospect indicating that it has grades and tonnes justifying a rework of the conceptual open pit.”
Rambler Metals and Mining Plc (AIM: RMM) announce that the annual report and accounts for the year ending 31 December 2021, including the Notice of Annual General Meeting (“AGM”) and Forms of Proxy, will be posted to shareholders and are available on the website at www.ramblermines.com
Notice of AGM and meeting arrangements: The AGM will be held at the offices of Memery Crystal, 165 Fleet Street, EC4A 2DY at 12:30 p.m. UK time on 9 June 2022.
Any updates will be included on the Company’s website and through a Regulatory Information Service. Shareholders are strongly encouraged to submit their votes by proxy as soon as possible, appointing the Chairman of the AGM as their proxy, so that their votes can be taken into account.
https://twitter.com/Share_Talk/status/1526087131877212160?s=20&t=8IJkO_59GwXuNqjcG2MWeA
Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), announced that it has signed the drilling contract for its Wishbone II Gold-Copper Project in Northern Queensland.
Heritage surveys have been completed in the last few weeks overall the planned drill sites so deployment for drilling is dependent only on weather in the Townsville area improving.
Richard Poulden, Wishbone Gold’s Chairman, commented, “We are delighted to have secured a rig with such an experienced team to drill on the gold and copper targets. This program will run in parallel with our work on our properties in Western Australia.”
Cora Gold Limited (AIM: CORA) 2021 Final Results and Notice of AGM.
Bert Monro, CEO of Cora, commented, “2021 was a year of strong progress for Cora, with significant Resource growth at Sanankoro and very well supported capital raises as we look beyond the DFS. With these milestone foundations in place, 2022 is expected to be just as formative as we focus on mine development, with the DFS nearing completion to determine the optimum route for production.
“Cora is well placed to continue to discover and define economic gold and add shareholder value as we near the completion of the Sanankoro DFS. I would like to thank Cora’s shareholders for their continued strong support during this exciting period, as demonstrated by their participation in the Company’s two fundraises in 2021. 2021 was a landmark year for the Company and I am certain Cora will make further significant progress during 2022 and beyond.”
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.
