Latest News

Proactive weekly mining highlights: Great Western Mining, Arkle Resources, Tirupati Graphite, Castil


Great Western Mining Corporation PLC (LON:GWMO) has announced the first pour of gold and silver at its Mineral Jackpot property. The company produced a dore bar as a pilot exercise using material from test spoil heaps on the Mineral Jackpot property, which is in Mineral County, Nevada.

Arkle Resources PLC (LON:ARK) has identified gold-bearing vein outcrops at the Inishowen project in Ireland. Recent trenching showed grades as high as 40.7 grams per tonne gold in a 10 centimetre quartz vein 85 metres along strike from a high grade hole drilled in 2016.

Tirupati Graphite PLC (LON:TGR) has said it is fast-tracking the expansion of primary graphite output from its Vatomina and Sahamamy projects in Madagascar. The company is on track to commission Vatomina in the second quarter of 2021 and to build production to 6,000 tonnes per year.

Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) is eagerly awaiting assay results from Big One Deposit of the Mt Oxide Copper Project in northwest Queensland that are expected to provide an entree for a “transformative” year in 2021. During the fourth quarter of 2020, the drilling contractor completed 20 drill-holes at Big One and the board is targeting to shortly release complete drill logs and relevant observations for all 20 drill-holes in two to three batches.

Empire Metals Ltd (LON:EEE) announced the start of the second phase of reverse circulation drilling and other field studies at the Eclipse Gold Project in Western Australia. The miner said it is a 4,000-metre drilling programme, comprising over 40 holes, designed to infill the first phase drilling as well as test extensions to the mineralisation at Eclipse both along strike and at depth, including better definition of the near-surface resource potential.

Asiamet Resources Limited (LON:ARS) said it has received further key approvals for the BKM copper project in Indonesia. The AIM-listed company said it has received approval from the governor of Central Kalimantan after demonstrating the technical and commercial viability of the project, with the provincial government and local communities having now provided their support for the project advancing to the development stage.

Power Metal Resources PLC (LON:POW) has updated on exploration work at the Ditau project in Botswana, which is prospective for rare earths and includes two prospecting licences held in a joint venture with Kavango Resources PLC (LON:KAV). The first stage of orientation work at Ditau is now complete, the pair said, including geophysical and geochemical surveys.

Caledonia Mining Corporation PLC (LON:CMCL) has confirmed an increased quarterly dividend, to be paid later this month. At 11 US cents per share, the dividend is up 10% from the prior quarterly dividend of 210 US cents, paid in October.

Emmerson PLC (LON:EML) chief executive, Graham Clarke has outlined the company’s position in a letter to shareholders. “Emmerson has continued to flourish safely,” he said in the letter. “Key milestones were achieved during 2020. The coming year is looking no less busy as we advance our exciting Khemisset potash project towards construction and production.”

Metal Tiger PLC (LON:MTR) said it has spent around A$146,000 on increasing its stake in Southern Gold Limited to around 17.72%. The investor in natural resources bought 1.23mln shares in the Aussie-listed gold explorer at an average price of around A$0.1193 a share.

Pembridge Resources PLC (LON:PERE) has said it is to raise GBP570,000 by issuing shares to some existing shareholders and directors at 4p a pop. As well as issuing 14.25mln shares to raise fresh capital, the company has issued 308,793 shares to satisfy a liability.

Ncondezi Energy Ltd (LON:NCCL) has provided an update on historical development cost reimbursement negotiations with China Machinery Engineering Corporation (CMEC) for work on the integrated Ncondezi 300MW coal-fired power project and coal mine in Tete, Mozambique. “It is with great pleasure that we update investors on the positive progress regarding agreement of project historical development costs to be reimbursed to the company at financial close,” said Ncondezi chief executive Hanno Pengilly in a statement.

Earlier in the week Pembridge said an operator arrangement in relation to the Minto mine in the Yukon in Canada has been terminated as of January 1, 2021, instead consolidating management expertise into Minto Explorations Ltd itself rather than continuing with the third-party operator.

Panthera Resources PLC (LON:PAT) has agreed with Moydow Holdings Ltd to extend the date for completion of the sale of the Kalaka gold project to Moydow, to January 14, 2021. While substantial progress has been made, the extension of time is required due to the limited progress over the holiday period.

Mkango Resources Ltd (LON:MKA) has received approval from the TSX-Venture exchange for the issue of Mkango shares to Talaxis Limited. Talaxis is to be granted 1mln shares and in return has agreed to give up the right to buy 12mln Mkango shares at 6.6p each.

Shanta Gold Ltd (LON:SHG) said it has appointed Yuri Dobrotin as its group exploration manager. Dobrotin is a global expert in gold exploration with 35 years’ experience, joining from Barrick Gold where he was a senior district geologist in Tanzania.

Pure Gold Mining Inc. (CVE:PGM) (LON:PUR) has announced the appointment of Chris Haubrich as vice president, business development. The group noted that Haubrich is a mining finance professional and registered Professional Mining Engineer with over a decade of experience in mergers and acquisitions, corporate strategy, capital markets, operations, and engineering consulting in the mining industry.

NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) has said that Colin Sutherland will cease to be a director of the company and also cease acting as its chief financial officer effective from close of business on January 8, 2021, to pursue other interests. The group said Sutherland will remain as a consultant to the company to assist with key initiatives currently underway with respect to efforts to elevate NQ’s shares to trading on a recognised Tier-1 stock exchange.

European Metals Holdings Ltd (LON:EMH) said it has appointed ambassador Lincoln Palmer Bloomfield Jr to the firm as a non-executive director. The AIM-listed firm said Bloomfield’s appointment will deepen its understanding of environmental threats and emerging resource insecurity concerns having potential national, regional and global impacts and that he will serve as a “valuable addition” to the firm as it focused on the environmental and sustainable governance (ESG) aspects of the critical raw materials and battery supply chain.

Small cap movers: Argo Blockchain lifted by Bitcoin hitting new highs

Previous article

Castillo Copper soars as broad high-grade results confirm ‘game-changing’ copper discovery at Big On

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News