Jubilee Metals Group Plc (AIM: JLP) entered into a third party Run-Of-Mine chrome ore offtake agreement that fully commits its Windsor chrome beneficiation plant for the next three years, with the option for this to be extended further. Under the terms of the Agreement, Jubilee is committed to the production of 40,000 tonnes per month of chrome concentrate or, subject to the chrome content in the ROM, saleable chrome concentrate, while also retaining the rights to all discard material including the contained PGMs. Additionally, Jubilee has entered into a joint venture agreement with a privately held South African company to secure the rights to a further 35,000 tonnes per month chrome processing capacity (Windsor 8). Under the JV agreement, Jubilee will assume operational control of the Windsor 8 facility whilst also committing to upgrade it by incorporating Jubilee’s processing solutions. The company’s recent significant progress in Zambia, as announced last week, followed by the successful implementation of these two key agreements supports the expansion of its South African chrome and PGM operations as it continues its track record of driving to set new industry standards.
Empire Metals Limited (AIM: EEE) entered into an Option Agreement to acquire a 75% interest in the high-grade Eclipse gold mining licence in Australia from Philips Exploration Pty Ltd.
The large, high-grade and previously producing mining licence is located less than 60km along strike from the Kalgoorie super pit, with only cursory modern exploration but has a historical gold production of 954 tonnes at 24.6 g/t Au for 754.25 oz Au and recent drilling in 2014 has identified high-grade mineralisation. The site has potential for significant high-grade gold resource development and is a great addition to Empire’s portfolio.
Jangada Mines Plc (AIM: JAN) sold 7,000,000 of its ValOre Metals Corp. common shares at C$0.25 per share for total gross proceeds of C$1,750,000, leaving Jangada’s remaining shareholding position in ValOre equivalent to 17.14% of the total basic common ValOre shares outstanding. The funds from the sale will be used to further advance the Pitombeiras Vanadium Project, which is currently progressing to define the maiden JORC resource after a highly successful drill campaign.
Armadale Capital Plc (AIM: ACP) commenced testing with Australia’s Commonwealth Scientific and Industrial Research Organisation (‘CSIRO’) of its natural flake graphite from its 100%-owned Mahenge Graphite Project in Tanzania for battery applications. This follows on from previous programmes which have demonstrated that outstanding purity of up to 99.99% Total Graphitic Carbon can be achieved using conventional treatment. It represents the next step in Armadale’s goal towards becoming a significant graphite producer, and Armadale is confident that it will highlight the premium quality of its graphite allowing the company to market it as a high-value product to the rapidly expanding EV market and provide a great deal of value for shareholders. Additionally, Armadale has been successful in its application to be the recipient of a co-funding dollar for dollar grant from CSIRO whereby every dollar spent by the company in undertaking testwork related to the testing of the Mahenge graphite is matched by a CSIRO grant.
Erris Resources Plc (AIM: ERIS) announced further results from the Loch Tay gold project in Scotland. Results for 53 rock samples were received with additional gold mineralisation identified at the Lead Trial area. The fieldwork continues to upgrade the Lead Trial Prospect and other new targets including the Corrie Buidhe silver mine area where gold has been sampled in the lower dump west of the old mine.
At Lead Trial, the mapping of outcrop and boulders along with sampling outlined an extensive area of well-developed quartz vein stockworks and localised hydrothermal breccias over a distance of at least 400m. The results point to a vigorous hydrothermal system in the area while the highest-grade samples are located 2km to the southeast at Lead Trial-Dunan, the area in between having poor exposure. A work programme including systematic soil sampling has commenced that will aim to link the two areas into a coherent major target area extending over 3 km.
Bluejay Mining Plc (AIM: JAY) finalised a low-cost fieldwork programme for its recently acquired, 100% owned Thunderstone Project in South Greenland following a pause in all field activities due to Covid-19 restrictions. An application for the programme was submitted to the Mineral Licence and Safety Authority, Greenland for approval with mobilisation scheduled for late August 2020. The programme will focus on following up several high-priority gold, platinum group elements and base metal geochemical anomalies identified as part of Bluejay’s recent re-analysis of historical stream sediments. Based on this analysis, Bluejay has also applied for an extension of the Thunderstone licences. This programme marks the first step in regaining the company’s momentum after the global lockdown, with the new licences representing a true greenfield region of Greenland that has received hardly any previous commercial exploration and the diverse geology providing the scale and potential for a wide range of metals and deposit types. Elsewhere in Greenland, the final meeting of the Public Consultation successfully took place for Bluejay’s Exploitation Licence application for the Dundas Ilmenite Project in North-West Greenland and the Public Consultation Period is due to end on 2 September 2020.
Cora Gold Limited (AIM: CORA) announced an update on progress made by Digby Wells on the ESIA for the Sanankoro Gold Project in Mali, which commenced on 4 May 2020. The ESIA continues on schedule and within budget with numerous concurrent work streams ongoing. Baseline water and air quality monitoring programmes have been established with several rounds of sampling completed and representative ore samples have been shipped to a laboratory in Australia for geochemical characterisation test work. The ESIA is expected to be completed in the middle of 2021 in order to align with Cora’s plans to move Sanankoro towards development as quickly as possible.
Dekel Agri-Vision Plc (AIM: DKL) provided a production and sales update for the Ayenouan palm oil project in Cote d’Ivoire for July 2020, with trading benefiting from improving CPO prices which continue to recover from Covid-19 induced lows. Paired with high extraction rates, it has offset the lower CPO production volumes achieved at Ayenouan. Dekel is confident that the positive tailwind of higher pricing levels will be maintained in August as the strong recovery of palm oil prices are combined with the 4-5 week lag for local prices to reflect international moves. Together with the progress being made at Tiebissou, which remains on track to commence production in Q2 2021, Dekel looks forwarding transforming into a multi-project, multi-commodity agriculture business.
Contango Holdings Plc (LSE: CGO) signed a letter of intent with South Mining Limited relating to an off take agreement for coal products produced at the Lubu Coalfield Project in Zimbabwe. South Mining is a prominent coking coal producer and is committed to producing 420,000 tonnes of coke from its new battery oven and has agreed to purchase a minimum of 30,000 metric tonnes of raw coal per month from Contango’s subsidiary company, Monaf. The formal offtake agreement is expected to be entered ahead of the anticipated commissioning of Lubu in Q4 2020 and demonstrates the significant demand for high quality coking coal in Southern Africa.
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Joe Biden has chosen California Senator Kamala Harris as his running mate, making history as the first black woman to run as VP.