Weekly Mining Highlights, 6th October 2019

A look back at some of the top news from London’s small-cap miners.

By Madeleine Taylor

Europa Metals Ltd (LON:EUZ) said it had raised £1mln in an over-subscribed issue of stock at 0.025p a share.

The proceeds will be used for “progressing the workstreams” required for a pre-feasibility study on the Toral lead-zinc-silver project located in the Castilla y León region, northern Spain.

Savannah Resources PLC (LON:SAV) confirmed that major shareholder Al Marjan has now bought £1.24mln of shares as part of a £5mln fundraising.

Metal Tiger Plc (LON:MTR) said the acquisition of 100% shares in MOD Resources Ltd (LON:MOD) by Sandfire Resources NL (ASX:SFR) is an “important point” for the company.

Oriole Resources PLC (LON:ORR) said it is expanding its footprint in Cameroon, following early success at the Bibemi and Wapouzé gold projects where it is earning up to a 90% interest.

The company formed a new local subsidiary, Oriole Cameroon SARL, and has submitted applications for a district-scale land package in the centre of the country.

W Resources PLC (LON:WRES) said it was on track to begin concentrate production from La Parrilla tungsten and tin mine in October, after construction of processing works was completed this month.

Kavango Resources PLC (LON:KAV) told investors that its drill programme at the Kalahari Suture Zone (KZS) project in Botswana will kick off in “early October”.

Strategic Minerals PLC (LON:SML) received A$575,000 as a loan recourse to the expected 2019 research and development grant/reimbursement from the Australian Taxation Office (ATO).

The cash received is in relation to works conducted at Leigh Creek Copper Mine.

Bezant Resources PLC (LON:BZT) closed out the financial half year to June 2019 with just £69,000 in cash, following a loss before tax of £387,000.

Power Metal Resources PLC (LON:POW) confirmed the existence of nickel sulphide targets at the Molopo Farms Complex project in Botswana.

IronRidge Resources PLC (LON:IRR) identified more potential targets at its Dorothe gold prospects in Chad from a wide-ranging electrical resistivity programme.

Thor Mining PLC (LON:THR)(ASX:THR) noted the publication of a maiden resource for the Big Sandy lithium deposit in Arizona.

Ariana Resources PLC (LON:AAU) said it expects to reveal ‘in due course’ its plans for Cyprus, where it has been carrying out due diligence on a potential exploration portfolio for two year

READ
Vast Resources plc (LON:VAST) Chiadzwa Community Diamond Project

Bluejay Mining PLC (LON:JAY) said that in the first six months of the year it had made “excellent progress” in Greenland, a “jurisdiction increasingly recognised as one of the last underdeveloped mineral regions”.

Operationally, it continued to focus on the Dundas Titanium Project, the world’s highest-grade ilmenite mineral sand deposit.

Goldplat PLC (LON:GDP) booked a loss of  £501,000 for the year to 30 June 2019, a steep drop from the £2.5mln profit booked last year

Ormonde Mining plc (LON:ORM) said it expects to achieve access to the main ore body at its Barruecopardo tungsten mine in Spain by the end of the year.

Vast Resources PLC (LON:VAST) said it is “near to finalisation” on documentation for enough funding to cover commissioning at the Baita Plai polymetallic mine in Romania and to begin diamond mining in Zimbabwe.

Anglo Asian Mining PLC (LON:AAU) entertained a delegation from the British Embassy in Azerbaijan at its Gedabek gold, copper and silver mine.

Bushveld Minerals Limited (LON:BMN) appointed Tanyaradzwa Chikanza as finance director as it finalised its US$68mln Vanchem acquisition.

Katoro Gold PLC (LON:KAT) raised £100,000 for its Haneti nickel project in Tanzania through a placing and subscription of 10mln new shares.

Pure Gold Mining Inc (CVE:PGM) (LON:PUR) (OTCMKTS:LRTNF) said the latest drilling at Wedge Zone at its flagship Madsen project in Red Lake, Ontario, has further underlined the potential of the mine currently being built there.

Amur Minerals Corporation PLC (LON:AMC) said it is focusing on the feasibility study to determine total resources in its Russian developments.

European Metals Holdings Limited (LON:EMH) took a lot of encouragement from the  decision by Volkswagen to locate its first electric vehicle plant at Zwickau, 90km from the Cinovec lithium deposit.

Horizonte Minerals PLC (LON:HZM) appointed a South American mine veteran to oversee the construction of its Araguaia project in Brazil.

Pedro Rodrigues dos Reis will be project director in the run-up to scheduled first nickel production in 2022.

Wishbone Gold PLC (LON:WSBN) said it was looking to focus more on gold trading in the Middle East as it reported a big increase in sales in the first six months of the year.

Oracle Power PLC (LON:ORCP) set up a new working capital facility for £200,000 with major shareholder Brandon Hill.

READ
Asiamet Resources ltd (LON:ARS) Management Update Call

Pembridge Resources PLC (LON:PERE) said it is working with the regulators to relist the company as it unveiled plans to raise £2.2mln in a fundraiser backed by its new board members.

Arc Minerals Ltd (LON:ARCM) said the year was one of considerable change and progress for the company as it increased its’ interest in Zamsort Limited from 14% to 66%, giving it control of a significant copper opportunity in Zambia.

Galileo Resources PLC (LON:GLR) said negotiations over a zinc ore offtake agreement with Jubilee Metal Group PLC (LON:JLP) are progressing “satisfactorily”.

The three-year renewable deal being discussed involves the supply of ore for up to 60,000 tonnes per annum, from Galileo’s Star zinc project to Jubilee’s Kabwe zinc refinery.

Pan African Resources plc (LON:PAF) swung strongly back into profit and re-started dividend payments as gold production jumped 54% to 172,400oz in the year to June.

Shanta Gold Ltd (LON:SHG) returned positive surface exploration drilling results from its ongoing exploration programmes within its existing mining licences at the New Luika gold mine in south western Tanzania.

Premier African Minerals Limited (LON:PREM) refused to confirm reports in Zimbabwe that is has been awarded an exclusive prospecting order application (EPO) for its Zulu lithium project.

By Madeleine Taylor

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 )
All copyrights @proactive_UK

 

Register for the Share Talk investor evening, London 26th November 2019


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.

Terms of Website Use

All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Malcare WordPress Security