Share Talk Weekly Mining Sector News Round-Up, Sunday 31st July 2022

This year to the middle of July has been one of the most brutal in living memory for small-cap stocks @ZaksTradersCafe One of the more disappointing aspects of this most exciting growth area of the stock market continues to get pathetic coverage in the mainstream media.

Author @ABMckinley

The stock market is a drab, boring place to be right now as a mining exploration investor but things are set to change with the London listing of Golden Metal Resources (ticker; GMT), a company which is focusing on four exciting projects in Nevada, U.S.A.

There is no quick fix to this tungsten supply issue as mines do not come online overnight but GMT has the best opportunity to capitalise on the current geopolitical issues that threaten to cut the U.S supply of tungsten off entirely if a nation chooses to withhold supply. Pilot Mountain when in production would produce 25% of the product equivalent to that currently imported from China.


At Power Metal Resources, we have established exposure to a variety of exploration projects prospective for a wide range of strategic green metals. Right now, our assets show potential for everything from gold and battery metals like nickel, copper, and lithium to Rare Earths, silver, lead, uranium, and even zinc.

ECR Minerals PLC, (AIM: ECR) informed investors that its wholly-owned subsidiary Mercator Gold had now signed an agreement to sell a property located in southeastern Australia.

After it had been purchased for A$887 500 in September 2021, the company agreed to sell the property in Sebastian, Victoria for A$950,000.

This is likely to be the first in a series of dispositions of non-core assets.

First Class Metals Plc (LSE: FCM), update holders that its entire issued ordinary share capital consisting of 65,672,055 ordinary shares on Friday was admitted to the Official List (by way of Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange’s Main Market for listed securities (together, the “Admission”). Dealings in the shares will commence today at 08.00 a.m., 29th July 2022 under the ticker ‘FCM’. The ISIN number is GB00BPJGTF16 and the SEDOL is BPJGTF1.

Upon Admission, the company will have a market capitalisation of £6.56m, following a successful total fundraise of £1.13m (before expenses) at the price of 10 pence per Ordinary Share (“the placing” & “the Subscription”)

Alien Metals Ltd (AIM: UFO), a global minerals exploration and development company, advises that with immediate effect, Mr Roderick (“Rod”) McIllree will join the Company as Executive Chairman (elect), until his formal appointment subject to normal director onboarding procedures, including regulatory approval.

Until such time, Mr McIllree will be engaged as a consultant to work with the Company’s board to undertake a strategic review and detailed assessment of how to unlock the value of what is a portfolio of very stable and significant metal projects, worldwide.

Vast Resources plc (AIM: VAST) announced an official opening ceremony for the Takob joint venture project at the Takob Mine in Tajikistan (“Takob Processing Project”) with Open Joint Stock Company Korkhanai Boygardonii Takob (“Takob”) will take place on 15 August 2022.

The processing of fresh and stockpiled ore will commence in August 2022 following the official opening ceremony under the terms of the Master Agreement between Takob and Central Asia Minerals and Metals Ore Trading FZCO.

As previously announced, Vast will receive participation equivalent to a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced from the Takob Processing Project. The royalty equivalent revenue from the Takob Processing Project will supplement the Company’s revenue from concentrate sales from Vast’s 100% owned Baita Plai Polymetallic Mine in Romania

The Directors of Thor Mining Plc (“Thor”) (AIM, ASX: THR) announce the drill results of the diamond drilling program at the 100% owned Molyhil Critical Minerals Project, Northern Territory.

  • Two of three diamond drillholes completed in late 2021 intercepted disseminated scheelite-molybdenite-chalcopyrite mineralisation hosted in a massive magnetite skarn, validating a newly identified 3D magnetic target. The drilling demonstrates that tungsten-molybdenum-copper skarn mineralisation extends along strike, to the south of the Molyhil Resource.
  • Assay results were lower than visible grade estimates and this resulted in the samples being resubmitted for analysis using two different analytical techniques, with further follow up using the coarse reject material.

The Board of Xtract Resources Plc (AIM: XTR) advised that independent laboratory assays have been received for drill holes BRDD-22-045, BRDD-22-046, BRDD-22-053 & BRDD-22-054 from Phase 2 diamond drilling programme at the Bushranger copper-gold exploration project.

Significant intervals of gold mineralisation have been intersected on the western side of the Racecourse Inferred Mineral Resource in an area with no previous historical drilling, which will be incorporated into an updated Racecourse resource model

Power Metal Resources PLC (LON: POW) announces the quarterly business update for shareholders.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

First Class Metals, into which we sold our Schreiber-Hemlo interests is nearing its planned listing; we recently conditionally disposed of our stake in the Botswana Kanye JV to our partner Kavango Resources; and we have Golden Metal Resources (Nevada, USA focused) nearing completion of its IPO preparations, with First Development Resources’ planned listing process (Australia focused) well underway. We expect more crystallisation events to occur from our still extensive portfolio

Zinnwald Lithium PLC (AIM: ZNWD) started its in-fill drill programme at the Zinnwald Lithium Deposit having received all necessary permits and permissions from the appropriate authorities.

The purpose of the in-fill drilling programme is to assist in defining the detailed early years operational mine plan and explore the potential of applying larger-scale mining methods. The ultimate aim is to accommodate greater mining capacity for expanded lithium product output.

The Company is looking forward to making progress with the drill programme in the coming months.

Kodal Minerals (AIM: KOD) announced the appointment of Mr Steven Zaninovich to the Board as Operations Director, effective from 1 August 2022.

Mr Zaninovich has been steering the development of the Company’s flagship Bougouni Lithium Project in southern Mali (“Bougouni”) through his role as Project Manager since November 2018.

Mr Zaninovich brings to the Board more than 30 years of experience in the mining industry together with extensive knowledge of West Africa, having worked as C hief Operating Officer with Gryphon Minerals (“Gryphon”) and Vice President of Major Projects at Teranga Gold Corporation, where he was also part of the Executive Management Team following its acquisition of Gryphon.

Power Metal Resources plc (LON: POW)  announces the acquisition of additional uranium properties surrounding the Athabasca Basin in northern Saskatchewan, Canada (the “Acquisition”).

Power Metal has acquired outright three uranium properties covering 271km2 surrounding the prolific Athabasca Basin in Saskatchewan, Canada.



Jangada Mines plc (AIM: JAN) a natural resources development company with interests in Brazil and elsewhere, is pleased to announce that an updated corporate presentation is now available on its new website

The presentation and website highlight Jangada’s dual focussed investment strategy to advance its 100%-owned Pitombeiras vanadium titanomagnetite (‘VTM’) Project (‘Pitombeiras’ or ‘the Project’) in Brazil, and to utilise its proven in-country and geological expertise to identify/acquire additional projects that it can rapidly advance to build value for shareholders.

Here, Bonnie Hughes talks to Ben Turney, CEO of Kavango Resources (LON: KAV) about the firm’s recently released conceptual economic viability report for its Iron Oxide Copper-Gold (“IOCG”) target at the Great Red Spot anomaly within its Kalahari Suture Zone (“KSZ”) project.


In the video, Turney explains the purpose of the report at this early stage, the potential scale of what Kavango might be looking at given the similarities between its IOCG target and the Olympic Dam IOCG project in Australia, as well as the company’s next planned steps over the entire KSZ project area.

Savannah Resources plc (AIM: SAV) acknowledges the recent press coverage in Portugal relating to land acquisition, and a legal action initiated by the Covas do Barroso Baldios in respect of some land packages which Savannah has acquired from private landowners at the Barroso Lithium Project (the “Project”).

The Baldios Management Commission (the “Baldios Commission”) has lodged a civil claim against certain landowners, claiming that they have registered some of their properties in excess, that is, occupying property that is actually Baldios land (community owned and managed land).

As Savannah has acquired some of those properties, the Baldios Commission has included Savannah in those claims, requesting that the acquisition of such properties should be declared null and void.

The directors of Thor Mining Plc (AIM, ASX: THR) provide an exploration update on sampling and mapping programs which have been completed at the Company’s 100% owned Ragged Range Project, located in Eastern Pilbara, Western Australia.

Three programs of reconnaissance mapping with rock chip and stream sediment sampling completed over the Ragged Range Project.

Author @ABMckinley

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.

Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.