It would appear that things are certainly getting warmer as far as Eurasia Mining (EUA) and the long-awaited potential asset sale.
By Zak Mir
Further to the proposal from the credible party, the buyer has informed Eurasia in writing that it has successfully completed its due diligence. The company said it sees competition for Nickel-Copper-PGM assets increasing on a global scale. It is also advancing its development projects to production, increasing production on its operating mines adding value to Eurasia, while also focusing on other strategic options that are progressing well.
There was more due diligence in the air, this time for Dev Clever (DEV) reached a key milestone in its development. The developer of online and immersive career guidance, and development platforms, confirmed that the detailed due diligence process in respect of the acquisition of Veative Labs Private Ltd has now been completed and the share purchase agreement has been exchanged.
Tirupati Graphite (TGR), the specialist graphite producer released its forthcoming AGM statement. The company said that World Energy Outlook 2021 shows a new energy economy is emerging – but not yet quickly enough to reach net zero by 2050. CEO Shishir Poddar said that “Given our business is positioned to develop solutions – namely a suite of graphite products, that can help enable net zero pathways, Tirupati’s rapid expansion could not come at a better time.”
There was more positive news for DVRG. Modern Water, a division of DeepVerge (DVRG), said it has been selected to contribute newly enhanced monitoring equipment, with a value of £0.48m to be installed in a Government National COVID-19 Infrastructure Trial. The multiplex wastewater development trial is expected to last until the end of February 2022 and it is anticipated that revenue from these installations will crystalize in the 2022 financial year.
Mosman Oil and Gas (MSMN) the oil exploration, development, and production company, announced an update on EP 145 situated in the Amadeus Basin in central Australia. Exploration activities have been ongoing throughout the current calendar year including the airborne gradiometry acquisition and related geological interpretation work. This is the first permit wide data acquisition and evaluation and has provided positive clarification of the basement structure and composition. Given the results by Geognostics, Mosman will engage in follow up study. The project will aim to further update the geological model and petroleum/helium play.
Orcadian Energy (ORCA), the North Sea focused oil and gas development company, said that it has received three expressions of interest for the provision of an FPSO for the Pilot development. The company engaged Crondall Energy to approach the appropriate FPSO providers on its behalf and has been delighted with the quality of the responses.
ZOO Digital Group (ZOO), the provider of end-to-end cloud-based localisation and media services to the global entertainment industry, updated on its global growth strategy to scale its operations by establishing regional hubs in key international locations. The company said, accelerated growth in international distribution of regional content, alongside the launch of new global direct-to-consumer platforms, continues to generate strong demand and opportunity for ZOO’s globalisation and media services.
Greatland Gold (GGP) provided an update on the drilling campaign at the Havieron gold-copper project in the Paterson region of Western Australia. The latest results comprise 22 new drill holes from the Infill and Growth Drilling programmes plus 11 holes previously reported. Significant mineralisation was reported in 18 of the new holes. The Havieron joint venture has now completed a total of 210,629 of drilling from 254 holes, with all the latest completed holes continuing to intersect mineralisation, and all but one reporting significant mineralisation. A further 24 drill holes have been completed, awaiting assay.
Rainbow Rare Earths (RBW) announced its preliminary results for the year ended 30 June 2021. Rainbow’s rare earths basket prices for the Gakara project have risen 64% during FY 2021, significantly outstripping forecast price rises. The Phalaborwa basket is more highly geared to high value NdPr, with additional economic Dy and Tb credits, and has seen a 67% increase over FY 2021. JORC (2012) compliant inferred mineral resource estimate at the Phalaborwa Project in South Africa of 38.3Mt at 0.43% total rare earth oxide. An exclusive rare earths separation technology agreement signed with K-Technologies, Inc.
Pure Gold Mining (PUR) reported high-grade drill intercepts returned from surface and underground drilling completed during the third quarter of 2021. This drilling was successful in demonstrating the tenor and continuity of gold mineralization for planned, near-term mine production from both the Main Ramp and the East Ramp areas, as well as establishing the potential for resource expansion close to existing development. Infill and extension drilling continues from both surface and underground to establish and prioritize mine sequencing, optimize mine development, and identify potential for resource expansion. Drill results are being integrated into the near-term mine plan on an ongoing basis.
Botswana focused Kavango Resources (KAV) announced it has been awarded an Environmental Management Plan that covers all of its Prospecting Licences in the Kalahari Copper Belt. These interests include PLs held within the Kanye Resources Joint Venture and the LVR JV.
Predator (PRD) unveiled its report and interim financial statements for the 6 months to 30 June 2021. The company said that despite the ongoing challenges created by the COVID pandemic it has successfully executed the drilling of its first well as an approved operator. The most significant event following the reporting was the completion of the MOU-1 well for perforating and rigless testing. The focus of the company has been re-aligned to prioritising step-out drilling from MOU-1 to appraise and develop the MOU-4 Prospect for a CNG development.
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