Share Talk Weekly Mining Sector News Round-Up, Sunday 3rd July 2022

Here is this week’s news from across the resources sector.

Author @ABMckinley

Premier African Minerals Limited (AIM: PREM) report on assay results at Premier’s Zulu Lithium and Tantalum Project.

George Roach, CEO commented, “The detailed results set out below are impressive. Similarly, the early QXRD work confirms our view that the Zulu deposit is predominately spodumene. Notable is the pervasive Tantalum and Rubidium presence.

Arc Minerals Limited (AIM:ARCM) Casa Disposal Update. Further to the announcement of 29 April 2022, the Company announce that it received on 30 June 2022 the first cash payment of US$125k towards the US$1.5m receivable from the disposal of its Casa interests.

The next US$125k is due within the next 30 days and the issuance of $1.25m in listed stock remains due by 28 July 2022. The initial cash payments were delayed due to constraints imposed by relevant Canadian exchange regulations.

Amur Minerals Corporation, (AIM: AMC) stated in its full year results statement that the geopolitical environment in Ukraine has radically changed its strategy for 2022.

While Russia’s “special Military Operation” in Ukraine has not yet affected the company’s operations in Russia, it has significantly altered activities related to its mergers and acquisitions strategy.

BlueRock Diamonds PLC (AIM: BRD) announce its audited results for the year ended 31 December 2021.

Commissioned new plant designed to increase production to 1Mtpa from c 400,000tpa. Upgraded Diamond Resource with 49% increase in net tonnes to 10,368,300 – confident this will increase further once more work is completed on KV3, the largest pipe

Commenced opening up the main pit to reflect the upgraded Diamond Resource at depth and area. Achieved significantly better results than in 2020 despite major challenges including shutdowns due to DMR, Covid-19 and extreme weather

53% increase in the number of carats produced alongside more than doubled revenue to £7.85m.

KEFI Gold and Copper Plc (AIM: KEFI) announced that it had signed an umbrella financing agreement to finance the Tulu Kapi Gold Mine Development in Ethiopia, thereby boosting its share price by almost 40%.

Kefi also stated that the Ethiopian Minister for Mines had confirmed that media reports about a cancellation of a licence were incorrect, that the Tulu Kapi mine licence was not cancelled, and that progress reviews would continue to ensure that the project launches as soon as possible.

Mkango Resources Ltd. (AIM/TSX-V: MKA) announced that Robert Sewell has joined the Company as Chief Financial Officer (“CFO”) of the Company, subject to the approval of the TSX-V. The role will be a non-board position.

Sewell comes from AfriTin Mining, where he was the CFO during the construction and commissioning in Namibia of its Uis Tin mine.

Vast Resource PLC (AIM: VAST) stated that the refurbishment of Takob’s processing plant in Tajikistan has been nearing completion.

OJSC Korkhanai Boysgardonii Takob is a joint venture partner in the development of the Takob processing plant and Takob tailings projects, both located at the Takob fluoride or galena mines. Vast holds an effective 24.5% indirect stake in the project.

Catenae Innovation PLC (AIM: CTEA) shared information about its income statement for half-year ending 31 March with its auditors. The company’s first half loss was 53.5%, or £273,069.

Panthera Resources PLC (AIM: PAT) has completed restructuring its 50%-owned Moydow Holdings Ltd.

Diamond Fields Resources Inc (DFR), will fund the Labola Gold Project in southwest Burkina Faso with funding up to US$18mln under the new revamp.

Pan African Resources PLC (AIM: PAF) stated that a definitive feasibility report (DFS), on the Mogale Gold Proprietary Ltd tailings stock facilities (TSFs), was completed. This showed the potential of the project.

Over its 13-year life, the Mogale TSFs will be reminded. This is equivalent to 25% more Pan African production.

Greatland Gold PLC (AIM: GGP) commences 2022 Exploration Programme at 100% owned Paterson projects

Drill programme to focus on new conductor targets identified at Scallywag licence including Pearl, Swan and Swan East. Maiden exploration activities to commence at Rudall and Pascalle licences.

ECR Minerals plc (AIM: ECR) announced unaudited half-yearly financial results for the six months ended 31 March 2022 for the Company as consolidated with its subsidiaries, along with a review of significant developments during the period and subsequently.

Adriatic Metals PLC, (LSE: ADT1) reported high-grade intercepts at drilling at Rupice Northwest in the flagship Vares Silver Project of Bosnia & Herzegovina.

Three exploration holes were the most recent results, of five that have been drilled so far this year.

Bradda Head Lithium Ltd (AIM: BHL) reported positive outcomes from its first drilling program at the Wikieup lithium-clay project in Arizona, USA.

Charles FitzRoy, chief executive, stated that the results clearly show the existence of lithium-bearing ceramics on Wikieup claims. This has given him a better understanding of Wikieup’s geology.

Thor Mining PLC, (AIM:THR, ASX:THR) stated that Mark Potter, the non-executive chairman of the board, will resign with immediate effect. This was due to personal reasons.

AIM-traded company started looking for an independent permanent replacement.

Eurasia Mining (LON:EUA) 6.03p. Mkt Cap £172m. Annual report highlights strong performance of West Kyltim PGM Mine in Russia.

Christian Schaffalitzky, Executive Chairman commented: “We are pleased to provide our annual report and accounts for 2021, an important year in the Company’s development.

We welcome new additions to our team at Board level and the opportunities provided by our geographic and commodity diversifications as discussed in more detail in our annual report. We also recently welcomed KPMG on board as agent within Russia to progress our asset sale strategy.”

Oriole Resources PLC (AIM: ORR) announces that all of the Company’s Directors have now entered into a Salary Sacrifice Scheme to complement the £340k placing announced earlier today (‘the Placing’).

Between June and September 2022, the Board has committed to a Salary Sacrifice Scheme covering £96k of gross salaries, providing additional working capital with which to advance the Company’s assets in Cameroon.

Tertiary Minerals plc (LON: TYM) announced that the Company has received positive laboratory assay results from its first drill programme at the Jacks Copper Project (“Jacks”) in Zambia, where it is earning a 90% joint venture interest.

Significant copper mineralisation intersected in all four diamond drillholes.

Phoenix Copper Limited (AIM: PXC; OTCQX ADR: PXCLY) announce that an updated Corporate Presentation will be available for download on the Company’s website at

Sunrise Resources plc (AIM: SRES) advised that it has granted an Option to Purchase its wholly owned Pioche Sepiolite Project in Nevada, US to a US subsidiary of Spanish company Tolsa S.A. the world’s largest producer of Sepiolite.

Pursuant to a Binding Heads of Agreement, Sunrise has granted Tolsa an exclusive 6-month Option to Purchase the Pioche Project claims for US$1.25 million payable in cash.

Tolsa may extend the option for a further 12-month period on payment of US$50,000.

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.

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