Amaroq Minerals, listed on the London AIM, TSX in Canada, and NASDAQ in Iceland, completed a fundraising round, exceeding their initial target.
They conducted roadshows in Iceland and London, attracting significant interest, particularly from Danish institutions due to the company’s assets in Greenland.
Marula Mining (AQSE: MARU) announced that the Company has appointed Ms. Jana van Wyk, as a General Manager of its Southern African operations effective from 1 March 2024, as part of the Company’s continuing strengthening of its executive management team.
Ms. van Wyk, holds a BSc with Honours in Geology, Chemistry and Environmental Geology from North-West University. Over the past several years, she has gained significant experience in the Northern Cape, where the Company’s Blesberg Lithium and Tantalum Mine is operating.
Further to the Company’s announcement on 19 January 2024, Bushveld Minerals Limited (AIM: BMN), the primary vanadium producer, is pleased to announce that today it has received an additional ZAR76 million (~US$4 million) from Southern Point Resources (“SPR”) which has been provided on an interest-free basis and will be repaid once SPR provides Bushveld with the entire US$12.5 million, pursuant to the SPR subscription agreement (the “Subscription Agreement”).
The Company has now received a total of ZAR116 million (~US$6 million) from SPR as an interest free loan. SPR has communicated that the full US$12.5 million will be paid no later than 28 February 2024.
ECR Minerals PLC (AIM: ECR) chief operating officer Mike Whitlow discusses additional results from the company’s drilling programme at the Davey Road site at Creswick as well as the current campaign at Kuboid Hill.
Meanwhile David Tang has stepped down as chairman while Nick Tulloch has been appointed chairman in his place, in addition to his role as executive director. David will remain on the board as a non-executive director.
Harvest Minerals Ltd (AIM: HMI, OTC: HMIFF), a fertiliser producer listed on AIM, reported a total of 34,880 tonnes of orders for its organic multi-nutrient direct application fertiliser, KP Fértil, by the end of December 2023. Of these, 28,707 tonnes were invoiced within the same year, with the remaining expected to be invoiced in the current quarter.
Golden Metal Resources PLC (AIM: GMET, OTCQB: GMTLF) announced that additional analysis of its Kibby North and Kibby South lithium brine properties in Nevada suggests the presence of an unexplored conductive target, likely indicative of lithium brine mineralization. Notably, significant lithium mineralization was discovered in both brines and clays at the adjacent Marquee drill site KM22-02.
Premier African Minerals (AIM:PREM) has announced it is now fully funded for the initial production at its Zulu lithium project in Zimbabwe, following a subscription at 0.275p to raise £2.475 million. The company also reported that the new ball mill at the site has been installed and is undergoing testing, with commercial production set to commence later this month and the first shipment planned for March.
Shuka Minerals Plc (AIM: SKA), an African-focused mine operator and developer, announced that it has signed a definitive settlement agreement with Upendo Group who hold a historic residual 10% interest in the Rukwa coal mining licence.
The settlement involves the immediate payment to Upendo Group of $110,000, the immediate settlement of all proceedings and a waiver of all or any related claims by all parties howsoever arising. The Company will use the funds already lodged in Court to meet the majority of the settlement costs.
Power Metal Resources (AIM: POW) has expanded its uranium property portfolio in the Athabasca Basin area of Saskatchewan, Canada, a region currently experiencing a surge in exploration interest. The Richards Lake property was acquired through direct mineral claim staking by the Power Metal technical team, at a cost of approximately C$1,800, as stated in their announcement.
Sovereign Metals Ltd (ASX: SVM, OTC: SVMLF, AIM: SVML) has recently appointed Marco Da Cunha, a seasoned expert in environmental and social matters, as its new chief Environmental, Social, and Governance (ESG) officer. With nearly two decades of experience, Da Cunha brings a wealth of knowledge in environmental and social management, particularly in conducting environmental and social impact assessments (ESIAs) and developing environmental management plans for mining projects.
Katoro Gold PLC (AIM: KAT), the strategic and precious minerals exploration and development company, announces the proposed appointment of Sean Wade as Non-executive Chairman of the Company.
Mr Wade has extensive professional experience in the junior resource exploration sector, with board experience across multiples entities encompassing a wide variety of commodities and geographies. He is the Chief Executive Officer of Power Metal Resources PLC (AIM: POW), Katoro’s joint venture partner at the Haneti Project in Tanzania, targeting a major metal discovery (KAT 65%:POW 35%).
Bradda Head Lithium (AIM: BHL) announced that a gravity survey conducted in late 2023 uncovered a significant gravity low in the Basin North area. This finding suggests a deep, depositional center for sedimentary rocks and a deep basement rock geological setting. Executive Chairman Ian Stalker expressed optimism about the discovery of thicker clay beds in both Upper and Lower Clay sequences, highlighting the Basin Project’s potential as a significant lithium-in-clay resource.
Neo Energy Metals plc (LON: NEO) the near term, low-cost uranium developer, is pleased to announce a strengthening of its board with the appointment of Quinton van der Burgh as a Non-Executive Director, effective immediately.
Mr van der Burgh is a leading mining serial entrepreneur in South Africa. He is founder and CEO of Q Global Commodities (‘QGC’), one of South Africa’s largest privately owned mining houses that has established more than 45 mines throughout Sub-Saharan Africa from greenfield status through to production and exports of materials to the global commodity markets. QGC is actively expanding its metal mining interests throughout Southern and East Africa through direct equity investments and partnership and co-development agreements with a number of emerging mining and exploration companies including Neo Energy in which it is a cornerstone investor.
Artemis Resources Ltd (ASX: ARV, AIM: ARV, OTCQB: ARTTF) emerged as a prominent player in the junior mining sector after providing an exploration update on its West Pilbara projects. The focus is on the Kobe and Osborne sites’ lithium extraction potential, with recent drilling uncovering sub-vertical orientations of pegmatites, and one drill hole potentially nearing the Osborne target.
Neo Energy Metals (LON: NEO) Operations Update, provides an operations update regarding its recent activities at its advanced Henkries Uranium Project (‘Henkries’ or the ‘Project’) in the Northern Cape of the Republic of South Africa.
CEO Sean Heathcote said, “Work has continued at site in line with our stated schedule that lay the ground work for the next phase of exploration of the Henkries deposit. We are delighted to welcome Loni and Avril to the Neo team as Exploration Manager and Site Radiation Protection Officer respectively. We are confident that Loni’s boundless energy and recent experience in the Northern Cape region will help us as we look to expand the Project’s resource base, while Avril’s long standing tenure with Henkries will enable a continuity in the body of knowledge for the Project.
“In line with our continued compliance with international and national regulatory requirements, we are also pleased to have been awarded our COR license to handle radioactive materials by the NNR and have appointed and trained the necessary personal to keep our employees and the local community safe.”
Metals One PLC (AIM: MET1) revealed that its drilling program and analysis of historical data have identified economically significant mineralization at the R1 Hook target within the Black Schist Project in Finland. This mineralization, which includes nickel, copper, cobalt, and zinc, is reminiscent of the Talvivaara mine, one of Finland’s largest nickel mines.
Amaroq Minerals Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ), announced the successful completion of its significantly oversubscribed proposed Fundraising as announced on 12 February 2024.
A total of 62,724,758 new common shares (the “Fundraising Shares”) have been conditionally placed with new and existing institutional investors at a price of 74 pence (C$1.25, ISK 127 at the closing exchange rate on 9 February 2024) per new common share (the “Placing Price”), raising net proceeds of approximately £44 million (C$75 million, ISK 7.6 billion). Net proceeds raised in excess of the initially targeted £30 million will be used to further advance exploration at the Company’s Vagar and Nanoq licenses and to fund an additional capital injection into its Gardaq joint venture.
Katoro Gold (AIM: KAT) has recruited former Power Metal and Metal Tiger executive Paul Johnson to assist in what the company describes as a revitalization of its business model, operations, strategic direction, and improved investor communications. In conjunction with Johnson’s appointment, Katoro Gold is generating £750,000 in capital by issuing shares at 0.1p each and will rebrand itself as Katoro Global Resources.
Louis Coetzee, Chairman of Katoro Gold, stated: “We have been actively seeking a way to rejuvenate the company for some time. I am confident that the initiatives announced today, including the revamped board, advisory support, and new strategy, have the potential to significantly benefit our shareholders.
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, provides additional results from its drilling programme at the Davey Road site in its Creswick tenement. These results comprise the bulk sample testing following the preliminary results announced on 5 February 2024.
Nick Tulloch Managing Director said: “These results at Davey Road are very promising indeed. As we anticipated, bulk sample analysis has provided far greater clarity on the prospect as well as indicating contiguous gold over multiple metres in depth. The higher grades now being indicated support our view that Creswick has the potential to become a very significant asset for our company. Drilling was completed on time and on budget and we have now commenced our follow-on drilling programme at nearby Kuboid Hill. We have much to look forward to from that campaign as we develop our ongoing analysis and understanding of the wider location.”
