Marula Mining Plc (AQSE: MARU) sprung not one but two market updates on the last day of trading before Christmas. We contacted the company today and hopefully will receive an update later. Update on the Proposed Dual Listings in Nairobi and Johannesburg and an update on the Tanzania Copper Processing Plant.
European Metals Holdings Ltd (EMH), listed on AIM, ASX, and OTCQX, announced that the Definitive Feasibility Study (DFS) for its Cinovec lithium project in the Czech Republic will be postponed to the first quarter of 2024. The decision to extend the timeline was made in response to a formal request from the study’s consultants, who require additional time to finalize the capital and operating cost estimates as well as project implementation scheduling, as stated in the company’s announcement.
Tungsten West PLC (TUN, OTC: TNGWF), the company responsible for the Hemerdon Mine in Southwest England, shared its strategic and operational highlights for the six months ending on September 30th in an interim report. Notable achievements during this period included the production of 50 tonnes of tin and tungsten concentrate.
Ferro-Alloy Resources Ltd (LSE: FAR) has emphasized the continued strength of long-term prospects for vanadium and nickel, despite recent price fluctuations. In their report on fourth-quarter trading, the vanadium developer acknowledged that lower prices and production shortfalls resulted in lower-than-expected revenue and profitability.
2023 has hopefully seen off the bottom of the small-cap market
Marula Mining (AQSE: MARU) provided an update on the proposed long-term offtake and marketing arrangements (the “Agreement”) for its saleable production of lithium products from its Blesberg Lithium and Tantalum Mine (“Blesberg” or the “Project”). Marula has received indicative terms and expects to conclude an exclusive marketing and offtake agreement with a major European-based global commodity trading group (the “Offtake Group”) for 100% of the saleable production of lithium products from the Project in early Q1 2024. A further announcement will be made in due course.
Andrada Mining Ltd (AIM: ATM, OTC: AFTTF) reported significant operational progress at the Uis tin mine in Namibia during the third quarter of its fiscal year, ending in November. Tin concentrate production experienced a remarkable 139% increase, reaching 346 tonnes (t) compared to 145t the previous year. Additionally, the contained tin metal output saw a substantial year-on-year surge, rising by 132% to 202t.
Ariana Resources PLC (AIM: AAU) reported significant drilling results at the Tavsan site in Turkey, where several high-grade intervals spanning over 10 meters (m), particularly in the deeper holes, were intercepted. The current campaign at Tavsan has involved drilling nearly 9,000m, with standout results including 2.52 grams per tonne (g/t) gold over 12m from a depth of 114m and 2.1g/t over 11m from 137m.
Artemis Resources Ltd (AIM: ARV) announced the successful completion of its inaugural drilling program at the Osborne Joint Venture Project. Greentech Metals Ltd, holding a 51% stake in this lithium venture, provided an update that was welcomed by Artemis’ Executive Director, George Ventouras.
Kodal Minerals Plc, the mineral exploration and development company focused on lithium and gold assets in West Africa, announces its unaudited interim results for the six months ended 30 September 2023.
Greatland Gold PLC (AIM: GGP) announced a 29% increase in the mineral resource estimate (MRE) at the Havieron development in Western Australia. In a joint venture with Newcrest (Newmont), Havieron now boasts an estimated 8.4 million ounces of gold equivalent, with 7 million ounces of gold (up 28%) and 275,000 tonnes of copper, equivalent to 1.4 million gold equivalent ounces.
Artemis Resources Ltd (AIM: ARV) and its joint venture partner, Greentech Metals Ltd, successfully concluded a diamond drilling program at the Osborne JV Project. Artemis holds a 49% interest in this project, while Greentech holds the remaining 51%. Located in Western Australia’s West Pilbara region, this project is situated to the west of the Andover Project, which is currently subject to a $1.6 billion takeover offer by Azure Minerals.
Small cap mining: why the land banking in 2023?
Tertiary Minerals* (AIM: TYM) 0.14p, Mkt cap £3m – Drilling Funded at Konkola West Copper Project. Tertiary Minerals is an AIM-listed copper exploration company with a large portfolio of prospective copper licences in Zambia and Nevada. Early-stage exploration work in Zambia has yielded encouraging. This week the Company announced the signing of a definitive earn-in agreement with Kobold metals.
Adriatic Metals PLC (ADT1), listed on LSE, ASX, and OTCQX, has reported an 89% increase in the mineral reserve estimate (MRE) for its Rupice polymetallic mine in Bosnia and Herzegovina. The mine’s expected lifespan has now been extended beyond 2041. The revised reserves encompass silver at 187 grams per tonne (g/t), 5.2% zinc, 3.3% lead, 1.4g/t gold, 0.5% copper, and 0.2% antimony, equating to an estimated 83 million ounces of silver, 723,000 tonnes of zinc, 457,000 tonnes of lead, 640,000 ounces of gold, 64,000 tonnes of copper, and 24,000 tonnes of antimony.
Atlantic Lithium Ltd (AIM: ALL, OTCQX: ALLIF, ASX: A11) has appointed Jonathan Henry, a seasoned mining industry professional, as an independent non-executive director. This appointment follows the decision by Len Kolff, who will now focus on his non-board responsibilities as chief geologist. Jonathan Henry brings extensive experience in leadership and board roles within the mining industry, spanning nearly two decades.
Critical Mineral Resources PLC (AIM: CMRS) has announced the departure of Chairman Christopher Lambert from the board of directors with immediate effect. Concurrently, the Morocco-focused exploration and development company has appointed Noureddine Sabraoui, Critical Minerals’ general manager, as the chief operating officer with immediate effect.
Shanta Gold Ltd (AIM: SHG, OTC: SAAGF) is endorsing a cash takeover bid from Saturn Resources, a Tanzania-based group within ETC Holdings. The offer stands at 13.5p per share, valuing the East Africa-based gold mining company at £142 million.
Technology Minerals PLC (AIM: TM1) has reported that its battery recycling affiliate, Recyclus, has identified a potential location for its second Li-ion battery recycling plant in the UK. Discussions are currently underway with the relevant authorities to expedite the necessary permitting process. If approved, this facility will mark Recyclus’s third plant in total.
Empire Metal (AIM: EEE) has identified additional shallow-level titanium deposits based on the first five assay results obtained from a four-hole reverse circulation (RC) drill program conducted at Pitfield in Western Australia. These assays have revealed a new shallow zone containing higher-grade TiO2 mineralization, expanding the overall footprint of significant TiO2 mineralization already uncovered at the site.
Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ Iceland: AMRQ), an independent mine development corporation with a substantial land package of gold and strategic mineral assets across in Southern Greenland, announces that further examination of its 2022 geophysics data by Mining with Artificial Intelligence experts, ALS Goldspot Discoveries Ltd (“ALS Goldspot”), has significantly expanded prospectivity of its 100% owned Nanoq gold project. The Company also announces the successful completion of its 2023 geophysics exploration programme.
Tirupati Graphite PLC (LSE: TGR, OTCQX: TGRHF) has reported the issuance of shares to Battery Minerals Ltd (ASX:BAT) as part of its acquisition agreement with Suni Resources SA. In the second tranche of the agreement, a total of 6,546,556 shares were issued to Battery Minerals.
ECR Minerals PLC (AIM: ECR) subsidiary Mercator Gold Australia has successfully sold two pieces of mining equipment for a total of A$420,000. A Coretech drilling rig was purchased for A$350,000, with payments to be made in installments over nine months, while the sale of an excavator generated an additional A$70,000 in revenue.
Metals One PLC (AIM: MET1) has completed 1,548 meters (m) of diamond drilling across eight boreholes at the R1 Hook target within the Black Schist Project in Finland. Assay results are anticipated in early 2024, alongside structural interpretations and detailed work aimed at substantially increasing the existing resources of the Black Schist Project.
First Class Metals PLC (LON: FCM) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce that spodumene-bearing pegmatites have been intersected in every targeted hole drilled at First Class Metals’ Zigzag lithium Property. The identified mineralization remains open along strike and down dip.
