Weekly Mining Highlights, 17th August 2019

A look back at some of this week’s news from the junior miners.

By Tom Howard

Thor Mining PLC (LON: THR) unveiled what it said is a “substantial” initial copper resource of 114,000 tonnes at its Moonta project in South Australia.

NQ Minerals PLC (NEX: NQMI) highlighted an improved performance through the second quarter as it released interim results for the first six months of its financial year.

Scotgold Resources Limited (LON: SGZ) appointed Ian Proctor, the chief executive officer of Sky Betting and Gaming, as a non-executive director.

Kibo Energy PLC (LON: KIBO) told investors it has been granted seven new mining rights relating to the Mbeya Coal to Power Project (MCPP) in Tanzania.

Base Resources Limited (LON: BSE) said UBS has decreased its interest in the company by a 5.96% stake.

Sunrise Resources PLC (LON: SRS) successfully completed proof of concept trials for a horticultural grade of perlite from its CS deposit in Nevada.

Chaarat Gold Holdings Limited (LON: CGH) revealed it is in advanced discussions to extend the repayment date of a US$10mln loan into 2020. The Kyrgyzstan-focused miner also wants to increase the size of the loan, which matured on 13 August.

European Metals Holdings Limited (LON: EMH) raised gross proceeds of £750,000 via a share placing to UK investors to support the development of its development of the Cinovec project in the Czech Republic and to progress discussions with CEZ Group and potential off-take partners.

Savannah Resources PLC (LON: SAV) has completed a glass and ceramics test work programme on the feldspar and quartz that are found at its Mina do Barroso lithium project in Portugal.

Bluejay Mining PLC (LON: JAY) received an export permit from the government of Greenland for the shipment of the 40,000 tonnes of run of mine bulk sample material from the Dundas ilmenite project to be processed at the company’s pilot processing plant in Quebec, Canada.

It also promoted Danish geologist  Dr Bo Møller Stensgaard to the board as an executive director.

Caledonia Mining Corporation PLC (LON: CMCL)(TSE: CAL) said it produced 12,712 ounces of gold from its Blanket mine in Zimbabwe in the second quarter of 2019, up 6.4% on the amount produced in the first quarter.

Thor Mining PLC (LON: THR)(ASX: THR) received further assay results from the second metallurgical bulk sample drill hole at the company’s wholly-owned Molyhil tungsten molybdenum deposit in the Northern Territory of Australia.

Shanta Gold Ltd (LON: SHG) booked revenues of US$53.6mln during the first half 2019 on the production of 42,230 ounces of gold from its New Luika mine in Tanzania.

Kodal Minerals PLC (LON: KOD) is seeking clarification over the status of £200,000 expected from stockbroker SVS Securities. The money was part of a £575,000 funding in July and due to be transferred today, but SVS went into administration last week.

Katoro Gold Plc (LON: KAT) appointed SI Capital Ltd as a broker with immediate effect as it looks to advance its projects in Tanzania.  “As mentioned recently, we are actively looking to increase the current combined JORC compliant gold resource at Imweru while continuing to develop Haneti in tandem with AIM-listed Power Metal Resources plc, who are farming into this highly prospective project,” said chief executive Louis Coetzee.  “ I am bullish about the commodity basket that Katoro offers and I look forward to updating the market on further news as we advance the portfolio up the value chain.”

By Tom Howard

 

Source www.proactiveinvestors.co.uk

 

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