Marula Mining (AQSE: MARU), an African-focused mining and development company, is pleased to announce that it’s 2024 exploration budgets for the advancement and development of the Company’s Kinusi Copper Mine and Bagamoyo, Nyorinyori and NyoriGreen Graphite Projects all located in Tanzania, have been approved.
The total cost of the exploration budget is forecast to be approx. US$6.38 million (“Exploration Budget”). This is to be part funded through Q Global Commodities (“Q Global”), a major South African commodity, logistics and mining investment group, with the cost repaid from the funds expected to be received under the subscription agreement announced on 31 January 2023, and from anticipated future free cashflow from its mining and processing activities at Blesberg and the Kinusi Copper Mine. Commencement of certain activities under the Company’s Exploration Budget will be dependent upon the Company’s application of its forecast free cash flow to progress those activities.
Atlantic Lithium Ltd (AIM: ALL, OTCQX: ALLIF, ASX: A11) faced the possibility of a new takeover bid after major shareholder Assore increased its stake to 28.4%. Despite previous rejections of offers at 33p per share, SP Angel analysts anticipate another bid attempt following this share acquisition.
Anglo Asian Mining PLC (AIM: AAZ) informed investors of its adoption of the Global Industry Standard on Tailings Management (GISTM) at its Gedabek operations in Azerbaijan. These standards, developed by the UN Environment Programme, the International Council on Mining and Metals, and the Principles of Responsible Investment, aim for zero harm to people and the environment.
Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce completion of an airborne geophysical survey over its Kalahari Copper Belt (“KCB”) project in Botswana.
The helicopter-borne survey was completed by New Resolution Geophysics (“NRG”) and carried XciteTM Electromagnetic, Gravity, and Magnetic survey equipment. This multi-parameter airborne geophysical system has been designed for superior resolution of the KCB geology, to provide more detailed mapping of the project. The goal is to identify higher confidence drill targets.
Oriole Resources (AIM: ORR) secured a definitive earn-in agreement for its Mbe gold project in Cameroon, marking its second deal with BCM International in January. Earlier, on January 5, Oriole had signed an earn-in for the Bibemi project, also in Cameroon.
Aura Energy Ltd (ASX: AEE, AIM: AURA) is on the brink of transitioning from an explorer and developer to a full-scale producer, focusing on the Tiris Uranium Project in Mauritania, Africa, which is nearing production status.
KEFI Gold and Copper (AIM: KEFI) amended its gold exploration joint venture GMCO in Saudi Arabia, with results from 2023’s feasibility and exploration work, costing £19 million, expected soon.
Marula Mining (AQSE: MARU), an African-focused mining and development company, is pleased to announce that the Company has appointed Mr Collins Aseto as Head of Exploration in East Africa.
Mr Aseto is a geoscientist with over 15 years of experience in mineral exploration, mine geology and project and resource development. Mr Aseto brings to the Company both local and international expertise from senior exploration and mining positions, having previously worked at Lonmin Plc, Anglo American Plc, and Acacia Mining Ltd, where he served as Senior Geologist. He holds a Bachelor of Science degree in Geology from the University of Nairobi, and a Master of Science degree in Economic Geology from Auburn University-Alabama, USA. He is also a member of the Geological Society of Kenya, amongst other professional societies.
Anglesey Mining (AIM: AYM) revealed assay results from its new drilling campaign at Parys Mountain in Wales, showing a significant copper intercept and indications of other metals. The drill hole NCZ001 aimed to replicate the historical drill hole H34 from the early 1970s.
Premier African Minerals Ltd (AIM: PREM, OTC: PRMMF) remains on track to bring the Zulu lithium and tantalum project in Zimbabwe into production by late February. The company updated on operational progress, including equipment upgrades at Zulu.
ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to confirm that further to its announcement of December 18 2023 re the sale of non-core assets (see RNS here).
ECR’s Australian subsidiary Mercator Gold Australia Pty Limited (“Mercator”) has today received the first payment of A$53,000 (excluding GST) relating to the hire purchase sale agreement with a mining operations company for its Coretech Drilling Rig.
The total sale consideration for the Coretech Drilling Rig is A$350,000. A further A$33,000 is due every month for nine months until title in the asset transfers. The full payment obligations under the agreement are guaranteed by a related company to the purchaser.
Strategic Minerals PLC (AIM: SML, OTC: SMCDF) saw its shares surge by 68% on January 18 after its largest customer at the Cobre tailings operation in New Mexico placed a new 30,000-tonne iron ore order. This order is 50% larger than previous ones and is expected to boost the company’s cash flow.
Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF) is nearing the completion of the pre-feasibility study for its Empire open-pit mine in Idaho, targeting copper, gold, and silver deposits. The study is expected to be finished early in the second quarter, barring unforeseen delays.
PYX Resources Ltd (LSE: PYX, NSX: PYX) received approval from Indonesian authorities for a significant expansion of its Mandiri Project, allowing extraction and processing of up to 94,000 tonnes per annum of key minerals, including premium zircon, ilmenite, and rutile.
Marula Mining (AQSE: MARU) announced that, further to the announcement on 13 December 2023, the seven new Mining License Applications (“MLAs”) collectively made by Takela Mining Tanzania Limited (“TMT” or “Takela Mining”) and NyoriGreen Mining Limited (“NML” or “NyoriGreen Mining”) at the Nyorinyori Graphite Project (“Nyorinyori”) and the NyoriGreen Graphite Project (“NyoriGreen”) located in Tanzania (together the “Projects”) have been granted.
These new mining licenses are valid for seven years, effective from 10 January 2024 and are being incorporated into the commercial and technical services agreements with TMT and NML, through which Marula has secured its 75% commercial interest through the funding of exploration and mining and development activities.
Thor Energy PLC (AIM: THR, OTCQB: THORF, ASX: THR) shared results from its Colorado exploration program, revealing high-grade uranium findings at the Wedding Bell and Radium Mountain projects. Detailed results, including uranium and vanadium assays, are anticipated in February.
Rainbow Rare Earths Limited (AIM: RBW) hosted a US Congressional staff delegation at its Phalaborwa project in South Africa, following a $50 million investment commitment from the International Development Finance Corporation (DFC) announced at the COP28 United Nations Climate Change Conference.
Artemis Resources Ltd (ASX: ARV, AIM: ARV, OTCQB: ARTTF) is resuming its search for lithium at its West Pilbara tenements in Western Australia, focusing on the Karratha Lithium Project and areas near the Osborne JV and Azure Minerals’ Andover Lithium Project.
Cornish Metals (AIM CUSN) updated on the dewatering schedule of the South Crofty mine in Cornwall, with the first phase to a depth of around 360m to be completed early in the second quarter of 2024. The second stage, involving lowering pumps below 730 meters, is set to begin in the third quarter.
Tirupati Graphite (AIM: TGR) raised £1 million through a private placing at 11p per share and also converted £623,000 of fees and salaries into shares.
Ariana Resources PLC (AIM: AAU) reported that 2023 was one of its best revenue years at its Kiziltepe operation in Turkey, producing and selling 17,683 ounces of gold, generating gross revenues of US$39.2 million.
Critical Minerals (LON: CMR) acquired 26 new licences in Morocco, expanding its portfolio to include antimony, tungsten, lead-zinc, and gold, in addition to its existing copper-silver and cobalt projects.
Power Metal Resources PLC (AIM: POW) announced the immediate resignation of non-executive director Owain Morton due to other work commitments.
Artemis Resources Ltd (AIM: ARV) awaits assay results from recent drilling at the Osborne joint venture in Western Australia, with significant pegmatite intersections reported.
Bradda Head Lithium Limited (AIM: BHL, OTCQB: BHLIF, TSX-V: BHLI) reported new assays from San Domingo, Arizona, supporting the potential of a near-surface spodumene lithium resource in the Central area.
Oriole Resources PLC (AIM: ORR) upgraded the mineral resource at Bakassi Zone 1 at its Bibemi project in Cameroon by 23% to 375,000 ounces of gold, in anticipation of a mining permit application later in the year.
Anglo Asian Mining PLC (AIM: AAZ, OTC: AGXKF) restarted mining at the Gedabek mine in Azerbaijan, with flotation operations set to resume in the second quarter following a halt in Autumn 2023 due to an environmental audit.
Ecora Resources PLC (LSE: ECOR, TSX: ECOR, OTCQX: ECRAF) announced Andrew Webb as the new non-executive chair of the board, replacing Patrick Meier after May’s annual general meeting.
