A look back at some of the top news from London-listed junior miners.
By Renae Dyer
Turkey-focused gold miner Ariana Resources PLC (LON:AAU) is looking at adding other commodities to its portfolio.
The AIM company wants to diversify its business and explore commodities that are associated with emerging technologies.
“We recognise the importance of diversifying our portfolio partly into other commodities, and particularly those associated with the development of new technologies, within countries representing low risk profiles,” said chairman Michael de Villiers.
BlueJay Mining PLC’s (LON:JAY) Dundas minerals sands project in Greenland is worth US$83mln over a nine-year mine life, according to a pre-feasibility study.
Costs to build the mine and infrastructure are estimated at US$245mln.
BlueJay added that the PFS was based only on a JORC compliant mineral reserve of 67.1Mt and not the entire resource of 117Mt and designed both as a high-level assessment of Dundas and to accelerate the permitting process.
Galileo Resources PLC (LON:GLR) has published an initial inferred resource estimate for its Star Zinc project in Zambia.
The AIM-listed miner said the resource had indicated reasonable prospects of around 500,000 tonnes at 16% Zinc for 77,000 tonnes of metal.
In other news, the group has acquired the 15% of its subsidiary Enviro Zambia Ltd that it didn’t already own.
The net effect of this acquisition is to bring Galileo’s beneficial interest in the Star Zinc project up to 95%.
Regency Mines PLC (LON:RGM) has appointed executive director Scott Kaintz as chief executive director and appointed a former investment banker as non-executive chairman.
Nigel Burton, who has more than 30 years of experience in operational and financial management, has taken on the chairman’s role that has been vacant since Andrew Bell resigned as chairman and chief executive officer in January.
Salt Lake Potash Ltd (LON:SO4) has begun pumping high-grade brine from the Williamson Pit into a commercial-scale Sulphate of Potash (SOP) brine evaporation pond at its Lake Way Project in WA.
This follows completion of construction of the Williamson Ponds with pond dimensions of 2.5 kilometres by 0.5 kilometres.
These ponds have been designed to receive 1.2GL of high-grade SOP brine from the Williamson pit with de-watering underway and scheduled for completion in the September quarter of 2019.
South Africa’s BlueRock Diamonds PLC (LON:BRD) sold 71% more carats from its Kareevlei mine last year as the opening up of a new section led to a strong improvement in average grades.
Just over 5,800 carats were sold in 2018, with 189,990 tonnes processed from total tonnage of 572,664 tonnes mined from the Kimberley-based kimberlite.
The average grade increased 34% to 3.28 carats per hundred tons (cpht), up from 2.45 cpht last time, with the average stone size recovered during 2018 around 0.35 carats in size and more than 90% of diamonds of gem or near gem quality.
W Resources PLC (LON:WRES) has almost completed construction of the expanded ore processing system at its La Parrilla tungsten and tin mine in Spain, where mining is already up and running.
Construction of the large scale concentrator plant at La Parrilla, which has an estimated resource of 49mln tonnes of tungsten trioxide (WO3) and which has produced more than 3,500 tonnes of pre-concentrate so far, is “imminent” and will begin commissioning next month, the company said on Friday.
Rainbow Rare Earths Limited (LON:RBW) has said a Competent Person’s Report (CPR) received from MSA, dated 4 June 2019, has increased the estimation of the group’s high-grade rare earth vein tonnages by 30% at the mid-point of the range, even taking into account depletion from recent mining production.
The AIM-listed firm – which is focused on the Gakara Project in Burundi – said the full text of the CPR contains, inter alia, a review of the company’s recently announced strategy to invest in the opening of additional mining areas and new mining machinery and endorses Rainbow’s strategy on the assumption that risk areas identified in its report are addressed.
Greatland Gold PLC (LON:GGP) has commenced early stage exploration at its Panorama project in Western Australia with field reconnaissance and surface geochemical work.
Additionally, a detailed, low level aeromagnetic survey covering the entire Panorama project area is scheduled to begin next month.
Richland Resources Ltd (LON:RLD) told investors it has entered into an option deal to sell the Capricorn sapphire project to Fura Gems Inc (CVE:FURA), which if exercised will effectively leave the AIM-quoted firm as a cash shell.
Fura is to pay a C$150,000 option fee – of which C$125,000 must be loaned by Richland to the Capricorn subsidiary interest-free – and, upon exercise, a further US$185,000 of cash would be paid along with 4.85mln Fura shares. Some additional future payments would also be due.
ARC Minerals Ltd (LON:ARCM) has updated investors on its maiden drill programme at the Cheyeza East project in Zambia.
The explorer noted that the first two holes have now been completed and visible mineralisation was intersected in both holes.
AfriTin Mining Limited (LON:ATM) has concluded a confirmatory drilling programme at its flagship Uis Tin mine in Namibia, described as a “significant milestone” for the firm.
The AIM-listed group said the drilling was designed to support the declaration of a mineral resource estimate on the V1 and V2 pegmatites at the project.
ECR Minerals PLC (LON:ECR) has begun exploring for gold exploration at the Timor gold project in Victoria, Australia after completing a review of the site.
A review of Timor, the third active project of ECR’s five Victorian plays, highlighted multiple gold exploration targets in historically mined areas, with some areas of high-grade gold deposits that were not developed fully at depth due to the limitations of mining technology at the time, but now have potential for modern open cut and underground mining techniques.
Galantas Gold Corp (LON:GAL) is expecting to book approximately US$460,000 in concentrate sales for the second quarter of the year, as underground production from the Omagh gold mine in Northern Ireland continues.
The main decline tunnel has reached the fourth level and an access drive to intersect the Kearney vein on this level has commenced. The vein is expected to be intersected on this level in approximately four weeks’ time.
The latest X-Ray Diffraction analysis conducted by IronRidge Resources Ltd (LON:IRR) on metallurgical composites has reaffirmed the dominance of spodumene as the main ore in the Ewoyaa project in Ghana.
That, in turn, provides confidence in the likelihood of a simple process flow-sheet design and good customer acceptance.
By Renae Dyer
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