In the news this week…
A theft crime wave is taking over London with catalytic converters being stolen from cars at a rate of over 1,000 a month due to the high price of precious metals. Read about it here.
Waitrose vs M&S: the battle over Ocado continues between the two high-end grocery stores. Read more here.
Uber is expecting to see profits by the end of the year, despite over $1 billion in losses. See details here.
Bloomberg launched ‘Bloomberg Green’ to cover climate news and a CO2 counter.
David Hockney’s ‘The Splash’ was sold for $29.8 million at Sotheby’s. Read details here.
Vivendi is considering making Universal Music public by 2023 following their annual profits and Warner Music Group filing for public offering last week. Together with Sony Music, the three labels control 80% of the market. Read further here.
Cora Gold (AIM: CORA) announced the first drill results from its latest campaign at its Sanankoro Gold Project in Mali. Multiple higher-grade gold intercepts were successfully intercepted with highlights including 2.61g/t Au over 29m. The drill programme was targeting the deeper oxide and sulphide extensions to the Maiden pit constrained Inferred Mineral Resource of 5.0 million tonnes at 1.6 g/t Au for 265,000 ounces of gold. The maiden resource served as the basis for a recent scoping study which highlighted the attractive economic returns possible at Sanankoro including a high IRR of 84% and short capex payback of 18 months.
Empyrean Energy Plc (AIM: EME) is confident the 276 Bcf contingent resources previously assigned to the Mako gas field on the Duyung PSC, offshore Indonesia will be significantly upgraded. Gaffney Cline and Associates has been commissioned by the partners in the PSC to update the competent person’s report it produced for Mako to reflect new data acquired from the successful Q4 2019 appraisal drilling programme. Empyrean also announced a six month extension to the long stop date for the transfer of a 15% interest in the Duyung PSC, offshore Indonesia to Coro Energy Plc to allow more time for regulatory sign-off.
Jangada Mines Plc (AIM: JAN) has increased its Pitomberias Vanadium Project in Brazil by 80%, taking the total licence area to 1,958 hectares. Geological mapping and rock chip sampling will be undertaken at the new tenements alongside the 2,500m drill programme currently underway. The company has also received the final CAD$1,000,000 payment due from the disposal of the previously owned Pedra Branca project and today published a shareholder Q&A document in line with its commitment to maintaining an open dialogue with shareholders.
Katoro Gold (AIM: KAT) provided an update on its Tanzanian assets. Good progress has been made regarding the disposal of its Imweru and Lubando gold projects to Lake Victoria Goldfields Limited for a total staged cash consideration of up to US$1.0 million and a 1.5% net smelter royalty. At the Haneti Polymetallic Project, Katoro is developing plans to drill the two nickel sulphide and PGM priority targets, Mihanza Hill and Mwaka Hill, and continues to explore funding options for its advancement, including joint-ventures or farm-ins, with confidence in its strategic value following positive feedback from the recent Mining Indaba conference in Cape Town. At a corporate level, the company received notices to exercise warrants over 4,800,000 ordinary shares of 1 pence in the Company at an exercise price of 1.5 pence, amounting to, in aggregate, £72,000, which will be used for general working capital purposes.
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