Weekly Mining Highlights, 15th September 2019

A look back at some of the week’s more interesting news from London’s junior miners.

By Calum Muirhead

Chaarat Gold Holdings Limited (LON:CGH) signed a joint venture with Turkish mining contractor Çiftay İnsaat Tahhüt ve Ticaret to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyz Republic.

The company also received US$9.5mln in cash as part of a loan upsizing.

Indonesia-focused copper mine developer Asiamet Resources Limited (LON:ARS) drastically reduced half-year losses in the first half of 2019.

Exploration and evaluation expenses were lower at US$2.53mln compared to US$3.7mln in the first half of 2018, while employees benefits dipped to US$1.1mln from US$1.2mln.

The loss before tax narrowed to US$4.2mln from US$6.2mln the year before.

Kibo Energy PLC (LON:KIBO) provided a strategy overview in a comprehensive Q&A as well as reporting renewed water rights for its planned Mbeya coal power (MCCP) project in Tanzania.

Regency Mines PLC (LON:RGM) said its former chairman and chief executive Andrew Bell has now resigned as a director of the company.

Arc Minerals Limited (LON:ARCM) unveiled further “excellent” results from its maiden diamond drilling exploration programme at the Cheyeza East target in Zambia.

The company said drilling had intersected further high-grade shallow copper intersections. One hole uncovered 1.27% of copper over a length of 32.5m from 23.5m of drilling while another found 0.95% of copper over a length of 17m from 22m of drilling.

Pan African Resources plc (LON:PAF) said full year earnings per share from its continuing operations are likely to have grown 124%-134%, boosted by the reversal of an impairment charge.

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Greatland Gold PLC (LON:GGP) reported what are described as ‘excellent’ drill results from the Havieron project, in Western Australia, where work has been focussing on higher-grade zones.

Savannah Resources PLC (LON:SAV) was conditionally awarded new mining concessions for the Mutamba project in Mozambique.

The project is described as “one of the most significant undeveloped heavy mineral sands deposits in the world” and the new concessions span some 280 square kilometres.

Bluebird Merchant Ventures Ltd (LON:BMV) was granted the permit to develop the Gubong gold mine in South Korea. It is the first permit to be issued for a gold development project in the country since Ivanhoe Mines in the 1990s.

Pure Gold Mining Inc (TSX.V:PGM) (LSE:PUR) (OTCMKTS:LRTNF) moved closer to realising cashflow from its Madsen Red Lake gold mine in Ontario and has begun construction.

The Vancouver-based firm revealed it had been awarded the surface engineering and procurement (E/P) contract to JDS Energy & Mining (JDS), in partnership with Hatch Ltd (Hatch) and Knight Piesold Ltd (Knight Piesold).

W Resources PLC (LON:WRES) began the formal application process to receive a €5.3mln grant from the regional government in Extremadura, Spain.

Red Rock Resources PLC‘s (LON:RRR) noted that one of its investments is worth more than its entire market value.

Red Rock owns an 0.86% stake in Aussie-listed Jupiter Mines, which in turn has a 49.9% holding in Tshipi é Ntle Manganese Mining, operator of the South African mine.

Tshipi é Ntle has announced plans to pay a A$59mln dividend to shareholders, of which Jupiter will be due 49.9% plus roughly A$3mln from marketing operations.

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Small cap movers from the junior market over the past week

Mkango Resources Ltd (LON:MKA, TSX-V:MKA) appointed experienced Africa hand Senet as the lead engineer and project manager for its Songwe rare earths project in Malawi.

Bluejay Mining PLC (LON:JAY) confirmed the shipping of an ilmenite bulk sample from its Dundas project in Greenland.

Ariana Resources PLC (LON:AAU) said it saw potential to expand the Tavsan project in Turkey after new mineral discoveries outside of the initial mine plan.

Source www.proactiveinvestors.co.uk
Article originally published by proactive investors. Share Talk is not responsible for its content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.
The above has been published by Proactive Investors Limited (the “Company”) on its website and is made available subject to the terms and conditions of use of its website (see T&C )
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