Critical Metals Plc announced it has published its Prospectus in connection with its listing on the Standard Segment of the Main Market of the London Stock Exchange – first day of trading being Tuesday 29th September – under the ticker CRTM. An investment company formed to make investments into operators or near term production operators within the natural resources development and production sector in the continent of Africa, CRTM intends to search initially for acquisition opportunities in the natural resources sector on known deposits and more specifically minerals that are perceived to have strategic importance to future economic growth. Commodities such as antimony, beryllium, cobalt, copper, fluorspar, gold, rare earth elements, tin, tungsten and vanadium have been identified by several governments as “critical minerals” and so guaranteeing supplies is seen as a strategic necessity. The Company therefore believes that the market conditions for these minerals will remain strong in the short-to-long term.
Vast Resources Plc (AIM: VAST) announced that Mark Mabhudhu, the Executive Director of the Diamond Division, has been appointed as the CEO of Zimbabwe Consolidated Diamond Company. Mark will focus on the diamond sector’s contribution towards the Zimbabwean Government’s 2023 $12bn mining vision which is also driven by the attendant implementation of Joint Ventures between the ZCDC and investors in the diamond sector. Vast CEO Andrew Prelea commented that they are “excited to be able to continue working with him in his new role within the Zimbabwe diamond sector”.
Harvest Minerals Limited (LSE: HMI) is in the final stage of the expansion of the mining and product storage areas of its Arapua Fertiliser Project in Brazil. The product storage capacity is being expanded by 300% to comprise a total of 30,000 tonnes of product, and the mining area is being increased four fold to 78.8km2. The expansion work is on track to be concluded by the end of the month, ahead of the main buying season, and enables Harvest to meet growing demand for its high quality remineraliser product. Additionally, a Protocol of Intentions has been signed with the Government of Minas Gerais, the state in which Harvest operates, in order to provide assistance on key initiatives related to operations and development including business matchmaking with local suppliers, permitting and licenses, tax planning, and funding options, as it may be required.
Bluejay Mining Plc (AIM: JAY) has successfully and safely completed its maiden fieldwork programme at the Thunderstone Project in Greenland targeting precious and base metals. The field observations align with historical geochemical anomalies for gold and remote sensing targets and support a significant southern extension to the Nanortalik Gold Belt. The resulting geochemical data is expected later this year and will allow Bluejay to further refine target areas for a more focused future field programme.
Prospex Energy (AIM: PXEN) used its half year report to detail the roadmap it has in place to build a highly cash flow generative investment company focused on European gas and power projects. The roadmap starts with first gas at the Selva field in Italy in H1 2021 and the completion of the transfer of the 49.9% interest it acquired in the El Romeral gas and power project to its Spanish affiliate. These two milestones alone could see Prospex’s annual production reach 7,800,000 scm in 2021, which would generate a significant revenue stream even at current gas prices. This will enable the Company to pursue additional prospectivity across its asset base including multiple follow-up targets in Italy, which are estimated to hold aggregate gross prospective resources (best estimate) of 91.5 Bcf; 11 prospects on the El Romeral Project, which have been assigned 90 Bcf of gross, un-risked prospective resources; and the up to 830 Bcf of gross prospective resources estimated at the Tesorillo Project in Spain.
Keras Resources (AIM:KRS) have announced that a number of constructive meetings have been conducted whilst the management team have been in Togo. In particular CEO Russell Lamming met with Togolese Prime Minister Komi Selom Klassou and the Minister of Mines and Energy Marc Ably-Bidamon, in order to discuss the near-term development path to commence production through the issue of an exploitation permit at the Nayéga Manganese Project in which Keras currently holds an 85% interest. COO Graham Stacey is currently on-site at Nayega where he is ensuring that the bulk-sample plant, with installed capacity to produce 6,500 tonnes per month of beneficiated manganese, is production-ready. In addition, Mr. Stacey is sitting water boreholes for the additional water required when the Company commissions the new plant to expand production to 25,000 tonnes per month.
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Critical Metals Plc CEO Russell Fryer talking to Share Talk about the company commencing trading on the London Stock Exchange on Tuesday 29th September and his strategy for the company on listing. Have a listen here .
In the news this week…
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