Jangada Mines Plc (AIM: JAN) has reduced its drilling programme at the Pitombeiras Vanadium Project in Brazil from 2,500m to 1,350m in order to protect the welfare its staff during COVID-19. With 908m already completed and drill results from 2019, there is sufficient data to continue with a preliminary economic assessment and JORC resource estimate whilst also realising cost savings.
Jubilee Metals Group Plc (AIM: JLP) has announced its interim results to 30 December ’19 – a very strong set of results. Following the exceptional performance in the period, group earnings increased 778% to £6.67m, cash generated from operations up 570% to £4.98m, and revenue increased 205% to £25.4m. The two acquisitions completed in the period being 1) the Sable Zinc Refinery in Zambia; and 2) 100% of the PGM and chrome surface rights at the Inyoni Operations, has enhanced the operational earnings capability and continues to successfully diversified Jubilee’s geographical area and metals exposure.
Armadale Capital Plc (AIM: ACP) has positive results from the met test work programme completed as part of the ongoing Definitive Feasibility Study at the Mahenge Liandu Graphite Project in Tanzania. This confirms the project can produce high quality, high purity graphite with conventional technology and is achieving some of the highest grades in the sector with purity of above 97% TGC.
Emmerson Plc (LSE: EML) has been focused on the development of the world class Khemisset Potash Project in Morocco, which benefits from a leading cost profile of capital costs and bottom quartile all-in delivered cost to customer, yielding to an average annual life of mine EBITDA of $236million. Steps have already been taken to ensure the safety of their employees amidst the current pandemic and a strong cash position will be preserved should this uncertainty continue as the majority of the ongoing work programmes are focused on desktop reviews and report writing which can continue remotely. The Feasibility Study is expected to continue to meet the timelines previously provided, and the ESIA is underway, as Emmerson remains confident in the value of the project.
Cora Gold Limited (AIM: CORA) released its third and final drilling results from its latest programme at the Sanakoro Gold Project in Mali. The combined results of this final round and the two previous sets have identified significant scope to extend resources both at depth and along strike. With the recently announced £2.89 million conditional fund raise, Cora has the available capital for the initial focus on resource growth and further study work at Sanankoro as the project continues to move forward with these further signs of confidence.
Plexus Holdings Plc (AIM: POS) announced its interim results for the six months to 31 December 2019. The British engineer continues to benefit from a strong balance sheet with cash at period end standing at £4.5m, while there is also £2.96m in financial assets. As the owner of POS-GRIP, a wellhead technology which delivers a gas-proof solution, generates substantial cost savings for operators and reduces harmful carbon emissions from well-sites, Plexus believes that, as the debate around transitioning to a carbon neutral world gathers momentum, there is a major opportunity to establish POS-GRIP as the go-to technology in the energy sector. The Company is already seeing increased interest from operators for large scale production contracts, while its Russian licensing partner is having promising discussions with Russian operators on the back of a successful first order from Gazprom.
Bluejay Mining Plc (AIM: JAY) has taken swift pre-emptive action to ensure the safety of its employees, contractors and supply chain in light of COVID-19. This includes a full financial and strategic review designed to safeguard and ensure the stability and longevity of Bluejay activities for the benefit for all its stakeholders. They are paying close attention to government guidelines and note that the Government of Greenland has announced that it is considering a number of changes to protect investment and jobs in the Greenlandic exploration and mining industry by relieving companies of certain financial pressures.
Despite the current pandemic taking over the news cycle, here are some positive news items to brighten your day that you may have missed, and some ways to make the social distancing days pass faster:
Some reasons to continue to feel positive.
The Telegraph is compiling positive coronavirus news stories every weekday.
Some stories showing the best side of humankind.
The ‘volunteer army’ joining the front line against the virus at the NHS.
Chester Zoo is doing a live virtual tour of their inhabitants to cheer up your day.
The National Theatre is posting full length plays to their YouTube.
The Metropolitan Opera in New York is also posting a nightly opera stream.
Plenty of (virtual) travel opportunities and museum visits from the comfort of your home are available.