Weekly Mining Highlights, 21st July 2019

A look back at some of the top news from London-listed junior miners.

By Proactive Investors

Arc Minerals PLC (LON: ARC) has recorded more eye-catching grades of copper from its maiden drill programme at Cheyeza in Zambia.

Assay results from the latest hole again exceeded all initial expectations, Arc said, showing relatively shallow, high-grade intersections of copper as well as good continuity of mineralisation.

Shanta Gold (LON: SHG) says additional resources booked from drilling at New Luika will extend the life of the Tanzanian gold mine to at least 2025.

Anglo Asian Mining PLC (LON: AAZ) boosted production by 7% to 39,905 gold equivalent ounces in the six months to June 2019, when set against the comparable period a year earlier.

Asiamet Resources Ltd (LON: ARS) shares surged on Wednesday after it received a key permit for its BKM copper project in Indonesia. The environmental permit, issued by the provincial government of Central Kalimantan, will allow it to proceed with the development of the BKM mine and infrastructure associated with the project through to closure of operations.

Greatland Gold PLC (LON: GGP) said it has identified numerous high-priority exploration targets at Paterson Range East after conducting an aeromagnetic survey over the licence area.

Premier African Minerals Limited (LON: PREM) says Zimbabwe’s electricity company ZESA has started work to electrify the RHA tungsten mine ahead of a possible re-start of production.

Bezant Resources PLC (LON: BZT) has completed a key component of the environmental impact assessment baseline study required for the successful future completion of a pre-feasibility study at the Mankayan copper-gold project in the Philippines.

Small cap movers from the junior market over the past week

Kavango Resources PLC (LON: KAV) has received the assay results from the two holes drilled at the Ditau Camp prospect in Botswana. Kavango is currently undertaking its own programme of checks and duplicates at an independent laboratory.

BlueRock Diamonds PLC (LON: BRD) has sold a 12.2-carat diamond for US$105,000 in its July tender.

Danakali Ltd (ASX: DNK) (LON: DNK) (FRA: SO3) (OTCMKTS: SBMSF) is primed to execute the world-class Colluli Sulphate of Potash (SOP) Project in Eritrea with the imminent securing of Mandated Lead Arranger credit approvals a key milestone.

Tanzania-focused miner Shanta Gold PLC (LON: SHG) is comfortably on track to hit its guidance of 80-84,000oz this year, says Eric Zurrin chief executive.

“In the second half of this year we expect more on-mine and regional exploration results, the launch of the Singida IPO and hopefully some movement on the US$25mln VAT receivable which is roughly the same size as our net debt,” said Zurrin.

Pure Gold Mining Inc (TSX.V: PGM) (LSE: PUR) (OTCMKTS: LRTNF) has set itself up with a dream-team of key investors, the most recent of which is the founder of Sprott Capital Partners, billionaire investor Eric Sprott, who now has a 10.2% stake in Pure Gold.

AngloGold Ashanti (NYSE: AU), the world’s third-largest gold miner by production, is to take a significant additional stake in Pure Gold Mining Inc (LON: PUR)(CVE: PGM) as part of wider fundraising that was first announced in late June.

Two of the top brass at Kore Potash PLC (LON: K2P) poured in their own money as part a £10.5mln (US$13.1mln) fundraising round.

BlueRock Diamonds PLC (LON:BRD) Directorate Change

ECR Minerals PLC (LON: ECR) started rock chip sampling at the Timor gold project in Victoria, Australia.

Later in the week, ECR said its service providers have shown a “vote of confidence” in the business by agreeing to by paid in shares.

European Metals Holdings Ltd (LON: EMH) has secured a €2mln convertible loan from CEZ Group, one of Central and Eastern Europe’s largest power utilities, with a successful due diligence outcome that could see CEZ become European Metals’ largest shareholder and co-development partner for the Cinovec lithium-tin project.

By Proactive Investors

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.


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