Breaking Stories

Proactive weekly mining highlights:: Nord Gold, Anglo American, Cornish Lithium …

The London initial public offer of Nord Gold PLC, a Russian owned gold miner also focused on Africa and Kazakhstan, has been postponed amid criticism over whether it would contravene HM Treasury’s plan to block certain flotations on security grounds.

The company, also known as Nordgold, said late on Tuesday that its planned £3.5bn initial public offer has been postponed.

Anglo American PLC (LON:AAL) saw strong demand for rough diamonds in De Beers Group’s fifth sales cycle of 2021. “With demand for diamond jewellery in the key consumer markets of the US and China continuing to be positive, and midstream capacity in India returning, we have seen strong demand for rough diamonds during the fifth sales cycle,” said Bruce Cleaver, chief executive of De Beers Group.

Cornish Lithium has raised £6mln in a crowdfunding round that took less than 20 minutes. The battery metals specialist raised the money through Crowdcube at a price that values the group at £80mln, double the level of its previous funding in October last year

Thor Mining PLC (LON:THR, ASX:THR) announced “highly significant” results from soil surveys at the Sterling Prospect, part of its Ragged Range gold project in Western Australia.  Up to 114 parts per billion (ppb) gold was found in soil samples in the central area of the Sterling Prospect versus background levels of around 2-3 ppb

Chaarat Gold Holdings Ltd (LON:CGH) said it has entered into a new investment agreement with Çiftay İnşaat Taahhüt ve Ticaret A.Ş, the Turkish mining contractor for Chaarat’s Tulkubash project.

Oracle Power PLC (LON:ORCP) is following up highly positive geochemical sampling results at the Jundee East gold project in Western Australia with a full geochemical survey set to start next week. A sampling programme will take place over most of the 90 square kilometre area, with some 980 samples expected

Savannah Resources PLC (LON:SAV) said it joined the newly created Portuguese Association for the Battery Cluster (BATPower) as a founding member and has been elected to its board.

Bacanora Lithium PLC (LON:BCN) said its stake in Zinnwald Lithium will slide to 35.5% from 44.2% as a result of Zinnwald’s buy-out of Deutsche Lithium. Zinnwald is buying the 50% of Deutsche Lithium it does not already own.

Strategic Minerals PLC (LON:SML) said it wants to list its Leigh Creek copper project (LCCM) on the Australian Stock Exchange within a year. Ahead of that, it is looking to raise A$10mln in debt funding to bring the Australian prospect into production in the second half of 2021.

Tirupati Graphite PLC (LON:TGR) updated the market on its speciality graphite downstream operations in India, where it is developing a suite of speciality graphite for use in hi-tech applications like lithium-ion batteries, fire retardants, thermal management, and composites.

Bezant Resources PLC (LON:BZT) said reconnaissance and sampling work has indicated the potential for high-grade manganese deposits at its Kanye project in Botswana.

Ariana Resources PLC (LON:AAU) said drilling results confirm high grades from the Derya area of the Kiziltepe gold-silver mine in western Turkey. The drilling programme is testing the central and south-eastern extents of the Derya vein system over 670 metres of strike to depths of about 130 metres below surface.

Kavango Resources PLC (LON:KAV) has appointed existing board member Ben Turney as chief executive. Michael Foster, the outgoing chief executive, has decided to step down as CEO after 40 years in the mineral exploration industry.

Emmerson PLC (LON:EML) said the environmental approval process for its Khemisset potash project in Morocco is nearing completion. The company is waiting to be called for an evaluation meeting with the Environmental Evaluation Committee (EEC), 

ECR Minerals PLC (LON:ECR) said it intersected gold with the first hole drilled into the Dimocks Main Shale (DMS) at the Creswick gold project in the Victoria Goldfields, Australia. The first four drill holes at Creswick are now complete, said the London-listed gold exploration and development company.

Karelian Diamond Resources PLC (LON:KDR) said an aerial magnetic survey has been completed over the Anomaly 5 (Tervavaara) target in the Kuhmo region of Eastern Finland, an area where the company announced the discovery of a very rare, pale green diamond in early 2017.

Landore Resources Ltd (LON:LND) unveiled its final results for 2020 and said it is funded for the current exploration programme at the BAM gold deposit in Ontario, Canada. The explorer finished last year with just over £1mln of cash and no debt after incurring a loss after tax of £2.55mln compared to £2.15mln the year before.

Alien Metals Ltd (LON:UFO) said it has been granted a further extension under an exclusivity agreement to assess the potential acquisition of the Elizabeth Hill silver tailings project in Western Australia.

Power Metal Resources PLC (LON:POW) said ongoing due diligence work at the Tati gold-nickel project in Botswana indicates substantial mineralisation. Significant arsenic, nickel and gold-in-soil anomalies were identified from a historical data review and geochemical sampling, mapping and prospecting are now underway to validate the findings.

Panthera Resources PLC (LON:PAT) has announced that drilling has commenced at the Bassala Project in Mali for a planned 9,000-metre air-core (AC) and reverse circulation (RC) drilling programme.

Europa Metals Ltd (LON:EUZ) said it appointed mining consultancy Wardell Armstrong International Ltd (WAI) as the Pre-Feasibility Study (PFS) manager for its wholly owned Toral lead, zinc and silver project in northern Spain, following a competitive tender process.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published.