Kodal Minerals PLC (AIM: KOD): The company’s shares saw an uplift of 20.83% from a month-long low, settling at 0.58p.
This positive movement follows the announcement of a deadline extension for finalizing the Bougouni lithium project funding package with Hainan Mining. After a pre-payment of US$3.5 million earlier this month, the new deadline set is 30 September. The company also reported progress on restructuring its Mali subsidiary entities handling lithium operations.
The AIM-listed exploration and development firm mentioned that it has finalized most of the required steps to restructure its Mali subsidiary units holding the lithium stakes.
Thor Explorations Ltd (TSX-V: THX, AIM: THX, OTC: THXPF): The company revealed significant gold findings from the Makosa gold deposit and the Sambara prospect within its Douta gold project in Senegal. Specifically, Douta’s Makosa deposit is reported to contain approximately 1.78 million ounces of gold, with detailed figures of 20.2 million tonnes (Mt) indicated resource and an inferred 24.1 Mt at 1.2 grams per tonne (g/t) gold, equivalent to 909,400 oz Au.
Bradda Head Lithium Limited (AIM: BHL, OTCQB: BHLIF, TSX-V: BHLI): The company has announced that the development of its assets in Arizona will continue robustly into the latter half of the year. In the initial half, drilling at the San Domingo pegmatite asset was accomplished, with a subsequent round of drilling set to begin in Q2.
Glencore PLC (LSE: GLEN): The shares experienced a decline as major global asset managers accused the firm of deceptive practices in past share prospectuses, allegedly to hide corrupt actions. The shares dropped by 4.6%, further impacted by the company trading ex-dividend today, following a report by the Financial Times regarding escalating legal actions in London’s High Court that might influence the wider natural resources sector
Perseus Mining Ltd (ASX: PRU, TSX: PRU, OTC: PMNXF): Celebrating a successful year, the company witnessed a surge in gold production and prices, which culminated in a record profit for the 2023 fiscal year. This has allowed Perseus Mining to distribute a bonus dividend to its investors. The financial figures highlight a net profit (pre-tax) of A$568.8 million for the year ending on June 30, 2023, showcasing a whopping 103% growth from the previous year, supported by a 27% revenue growth to A$1.4 billion.
Premier African Minerals Ltd (AIM: PREM) will receive £5 million in funding for its Zulu lithium and tantalum project in Zimbabwe from main shareholder Canmax. The production is set to commence in November. The fund aims to support Premier African’s operations until they start generating revenue.
Bradda Head Lithium Limited (AIM: BHL, OTCQB: BHLIF, TSX-V: BHLI) announced that Charles FitzRoy has stepped down as CEO effective immediately. While FitzRoy will maintain his share options, Ian Stalker will temporarily step in as executive chairman until a successor is chosen.
Amaroq Minerals Ltd (TSX-V: AMRQ, AIM: AMRQ) reported a cash increase for the first half of the year. The goal to mine and process gold from the Nalunaq mine in Greenland is progressing as planned. The company’s cash was US$39.7 million as of June 30, showing an increase from US$19.5 million the previous year.
Empire Metals Ltd (AIM: EEE) revealed that a recent airborne survey of the Pitfield project in Western Australia showed higher titanium grades than earlier estimates. The survey highlighted a significantly dense core within a 40km magnetics anomaly outside of Empire’s initial drilling area.
Andrada Mining Ltd (AIM: ATM, OTC: AFTTF) disclosed that their sampling and geological mapping in licence ML 133, located 35km southeast of the Uis mine, confirmed lithium mineralisation. The primary minerals found were spodumene and petalite spanning a 6km trend.
Marula Mining (AQSE: MARU) provided an update on the Blesberg Lithium and Tantalum Mine, where the Company through arrangements with Q Global Commodities is completing the acquisition of two sensor-based, XRF ore sorting plants (“XRF Ore Sorters”) that will now be commissioned at Blesberg in Q4 2023 and used initially to increase the production of high-grade spodumene ore from the processing of the historical stockpiles.
Base Resources Limited (AIM: BSE, ASX: BSE) experienced a strong operational year, though impairments on its Kwale deposit in Kenya impacted profits. The revenue for the year ending June 2023 fell by 3% to US$271 million, resulting in a net loss of US$4.8 million after a US$88.9 million impairment charge for Kwale.
Galantas Gold Corp (AIM: GAL, TSX-V: GAL, OTCQX: GALKF) expressed enthusiasm over the results of its drilling operation in Scotland and reported a reduced loss for Q2. The firm’s net loss decreased to C$1.36 million from C$1.58 million, and cash outflow dropped to C$793,674 from the previous C$1.74 million.
Amaroq Minerals Ltd (TSX-V: AMRQ, AIM: AMRQ) shares hit a year-long peak on Monday, reflecting the growing optimism around the Greenland-based gold and metals explorer. By midday in Toronto, the stock was up 7% at C$0.91, marking a 38% rise over the past year. Trading was halted in London due to a bank holiday.
