Share Talk Weekly Mining Sector News Round-Up, Sunday 7th May 2022

On Wednesday, gold prices reached a new yearly peak for the second time, as investors pursued secure assets amid news of continued challenges faced by US regional banks.

Gold climbed to US$2061.39 per ounce in the evening, as reported by Trading Economics, following the announcement that Pacific Western Bancorporation, a US bank, was in search of a bailout arrangement.

Fox Marble Holdings (AIM: FOX) company confirms that the record date for shareholders to be protected in case of any future litigation award against the Kosovo government in the €195M case is set for 6 p.m. on 26 May 2023, as stated in the published Admission Document. Additional details on the Proposals can be found in the Admission Document on Fox Marble’s website:

Bushveld Minerals Limited (AIM: BMN, OTC: BSHVF) experienced a surge in share prices on Friday morning after announcing a non-binding term sheet to refinance its roughly US$45 million convertible loan note, set to mature in November 2023.

The proposed deal with Orion Mine Finance encompasses a new three-year term loan of about US$27 million, which will be paid back in increasing capital amounts, a fresh convertible loan note of nearly US$13.5 million due in June 2028, and the conversion of around US$4.5 million of the current convertible loan note into shares at 6p per share.

Power Metal Resources plc (AIM: POW) announces the appointment of Bill Brodie Good as a Non-executive Director of the Company with immediate effect. Bill’s most recent role was as CEO and Technical Director of AIM-listed Alien Metals in which he made the significant discovery of a DSO Iron Ore resource amongst other achievements with the company.

Clontarf Energy plc (AIM: CLON) announce that, as a follow-up to its statement on March 28, 2023, all prerequisite conditions have been met for the joint venture (JV) with NEXT-ChemX to become effective.

In relation to this, Clontarf has paid NEXT-ChemX Corporation US$500,000 and will now proceed with issuing 385 million new Ordinary Shares in Clontarf’s capital (“Consideration Shares”) to NEXT-ChemX, with half of them subject to a 12-month lock-in requirement. Additionally, NEXT-ChemX has provided Clontarf with proof of funds amounting to US$500,000.

Shares of Orosur Mining Inc (AIM: OMI, TSX-V: OMI) experienced a sharp drop of over 28% on Thursday after the company’s operational update was made public. The decline in share value seemed to stem from investor worries about the development of the Anzá Project in Colombia.


Greatland Gold moves closer to their ASX Listing

Endeavour Mining PLC (LSE: EDV, TSX: EDV, OTCQX: EDVMF) announced that it is on course to meet its annual production targets, with an anticipated robust performance in the latter half of the year, as it disclosed first-quarter results. During the initial quarter of 2023, the company generated 301,000 ounces of gold at an all-in-sustaining cost (AISC) of $1,022 per ounce.

First Class Metals PLC (LON: FCM) the UK metals exploration company seeking large-scale metal discoveries across its extensive Canadian Schreiber-Hemlo & Sunbeam land holdings, is pleased to provide an update on geochemical results from soil sampling on the Esa property.

Bens Creek Group plc (AIM: BEN), the North American metallurgical coal mine owner serving the steel industry, is pleased to announce that, following the company’s statement on March 23, 2023, a second highwall miner (“HWM”) has arrived, been assembled, and begun operations.

HWM unit no. 77 began arriving in disassembled parts at the company’s site around eight weeks ago. Initially, infrastructure delivery faced delays, and even after assembly, HWM 77’s software and associated electronics couldn’t achieve a satisfactory operational state.

At the upcoming AGM, Landore Resources Ltd (AIM: LND, OTC: LNDLF) will undergo a leadership transition, as both Chairman Charles Wilkinson and CEO Bill Humphries are set to retire. Humphries stated, “Charles Wilkinson and I have served as directors of the company since 2005, and we feel that now is the right time to step down.”

PYX Resources Ltd (LSE: PYX, NSX: PYX) reported an increase in production of both mineral sands metals and zircon during the most recent quarter from its holdings in central Kalimantan, Indonesia. Combined production of premium zircon, rutile, and ilmenite saw a 29% increase, reaching 2,500 tonnes (t).

Caledonia Mining Corporation PLC (AIM: CMCL, NYSE-A: CMCL) has initiated the direct sale of gold produced at the Blanket Mine to an external refiner outside of Zimbabwe. In this new arrangement, Fidelity Gold Refinery (FGR) exports refined gold to a foreign refinery, which then carries out the final refining step and sells the gold on behalf of Caledonia.

Harry Adams, Executive Chairman of KEFI Gold and Copper PLC (AIM: KEFI, OTC: KFFLF), was present at a recent ceremony in Addis Ababa, during which the Ethiopian government declared a shift in emphasis from government investment to private sector growth and financing. This announcement has significant implications for the Tulu Kapi project, which has been on hold due to security issues.

Trident Royalties PLC (AIM: TRR) house broker, Liberum, responded favourably to the diversified mining company’s first-quarter financial results, highlighting a “strong beginning to the year” with a 63% year-on-year and 4% quarter-on-quarter increase in royalty revenues. According to Liberum’s analysts, the company’s cash position has been bolstered to US$37 million through the sale of pre-production gold royalties, placing the group on “solid ground for the upcoming year.”

Amaroq Minerals Ltd (TSX-V: AMRQ, AIM: AMRQ) has identified several signs of gold during a high-resolution airborne geophysical survey conducted at the Nanoq, Siku, and Jokum’s Shear gold projects in Greenland. Moreover, the survey revealed a sizable potential area to the immediate west of Nanoq, featuring comparable controlling structures, thus expanding the scope of prospective target locations.

Trident Royalties PLC (AIM: TRR) reported record revenues of US$3.6 million from its diverse portfolio of gold, copper, and iron ore income sources during the first quarter of 2023. The company experienced a 63% increase in royalty revenues, reaching US$3.6 million, particularly driven by gold, which saw a 48% growth compared to a year ago, and iron, where the Koolyanobbing royalty payment reached its highest level to date, according to Trident

Greatland Gold (AIM: GGP) has named Yasmin Broughton as an independent non-executive director. Broughton, a corporate attorney, has specialized in mergers and acquisitions, corporate finance, and corporate governance while working at law firms Clayton Utz and Ashurst.

Mkango Resources Ltd (AIM / TSX-V: MKA), is pleased to announce that it has released the Financial Statements and Management’s Discussion and Analysis for the period ending 31 December 2022. The reports are available under the Company’s profile on SEDAR ( and on the Company’s website (

Aura Energy Ltd (ASX: AEE, AIM: AURA) has secured A$10 million through a share placement at A$0.185 per share to further develop the company’s range of projects. Both existing shareholders, such as Lind Partners, and several new investors participated in the placement.

Technology Minerals PLC (LSE: TM1) announced the successful deployment of beacons marking its five licenses in Cameroon, which hold potential for battery metals such as nickel and cobalt. The task, executed by local company Explorers 33 Consulting Group, also included discussions with local villages situated within the boundaries of the five license areas.

Galantas Gold Corp (AIM: GAL, TSX-V: GAL, OTCQX: GALKF) reported having C$1.04 million at the end of the previous year, which has since been supplemented with a private placement. The company, which is developing the Omagh gold project in Northern Ireland, posted a net loss of C$16.6 million for 2022.

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