Weekly Mining Highlights, 11th August 2019

London’s small-cap miners had an interesting mix of news this week.

Proactive weekly mining highlights

By Oliver Haill

Exploration activity at Anglo Asian Mining PLC’s (LON: AAZ) three properties in Azerbaijan in the first half of the year has delivered positive results, the company said in an update on Thursday.

Pure Gold Mining Inc (LSE: PUR) has pressed go on the construction of its exciting Madsen Red Lake gold mine in Ontario after it told investors Wednesday that it had closed a US$90 million financing package with Sprott Resource Lending Corp.

Bezant Resources PLC’s (LON: BZT) latest assays from the Buffalo prospect in Zambia indicated high-grade copper.

ECR Minerals PLC (LON: ECR) hit high grades of gold in rock chip sampling at its Timor project in Australia.

Soil testing at Alba Mineral Resources plc’s (AIM: ALBA) Clogau gold licence area in North Wales has indicated a strike four times longer than the UK’s most prolific gold mine.

Jubilee Metals Group (LON: JLP) boosted revenue by 75% to £14.36mln in the six months to June 2019, when set against the second half of 2018, with operational earnings rose by 47% to £5.64mln.

Kavango Resources PLC (LON: KAV) closed out the six months to 30 June 2019 with US$808,000 cash in the bank and said while exploration work on the Ditau prospect fell “short of expectations”, geology continues to suggest it is “a prospective target for mineralisation”.

Resolute Mining Limited (LSE: RSG) (ASX: RSG) continues to ride high on the gold wave, with forwarding sales of an additional 30,000 ounces of gold at an average price of US$1,519 per ounce in scheduled monthly deliveries of 5,000 ounces between January 2020 and June 2020.

Oriole Resources PLC’s (LON: ORR) area of interest at the Medina Bafe target has expanded to 16 sq km after more indications of gold were found by IAMGOLD, its partner on the project in Senegal.

Savannah Resources PLC (LON: SAV) is to be awarded mining licences over the Mahab 4 and Maqail South high-grade copper deposits near the Port of Sohar in Oman.

W Resources PLC’s (LON: WRES) is getting to the closing stages of construction at the La Parrilla mine in Spain, says, chairman Michael Masterman.

Europa Metals Limited (LON: EUZ) has started a formal engagement process with the local community over its Toral project in north-west Spain.

European Metals Holdings Ltd (LON: EMH) has been granted an extension to the exploration licence that covers the two granted Preliminary Mining Permits at its Cinovec lithium project in the Czech Republic.

NQ Minerals PLC (NEX: NQMI)(OTCQB: NQMLF) has made a further strategic investment in private Tasmanian mining company Tasmania Energy Metals Pty Ltd.

Goldplat plc (LON: GDP) steadied in the second half of year just ended after cost-cutting and the mothballing of the Kilimapesa gold mine.

Shanta Gold Limited (LON: SHG) has arranged a US$10mln loan to help develop the Singida gold deposit in Tanzania.

BlueRock Diamonds PLC (LON: BRD) has signed a contract with South Africa’s Teichmann Group to mine the ore at its Kareelvlei mine near Kimberley.

Salt Lake Potash Ltd (LON: ASX: SO4) has completed the placement of 10.58 million shares to international fund manager Fidelity International raising $7.4 million.

Northern Irish explorer Galantas Gold Corp (LON: GAL) is planning to drum up £1mln (C$1.6mln) in a share placing from the UK and Canadian investors and directors.

By Oliver Haill

 

Source www.proactiveinvestors.co.uk

 

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