Latest News

Proactive weekly mining round-up: Centamin, Anglo American, Hochschild…


Centamin PLC (LON:CEY) confirmed its reduced guidance is for 445,000-455,000 ounces of gold for this year, with a significant fall next year to 400,000-430,000 ounces.  A review of the Sukari mine will be presented on December 2.

Anglo American PLC (LON:AAL) reported a 24% increase in mineral production in the third quarter compared to the second and is currently operating at roughly 95% of its normal mining capacity as some coronavirus (COVID-19) measures still remain in place. Copper production was 4% higher than last year.

Hochschild Mining PLC (LON:HOC) is on track to deliver the full-year production target of 280-290,000 gold equivalent ounces. In the nine months to September 30, the miner produced 39,195 ounces of gold and 2.5mln ounces of silver.

Shanta Gold Limited (LON:SHG) raised gross proceeds of £32.2mln through a fundraising at  16.5p.  The fundraising was significantly oversubscribed and was supported by both existing shareholders and new investors said the gold miner.

Chaarat Gold Holdings Ltd (LON:CGH) completed a refinancing and extended its US$19.4mln investor loan plus US$1.1mln of accrued interest. It has also issued 7.5mln of new shares and US$1mln of convertible loan notes to its largest shareholder, Labro Investments.

Premier African Minerals Ltd (LON:PREM) revealed it is debt-free. A day after raising £1.1mln through a placing, the company issued £600,000 worth of new shares to repay accrued but unpaid contractual amounts and outstanding loans.

Alien Metals Ltd (LON:UFO) agreed on terms of a farm-out deal with Capstone Mining Corp (TSX:CS) for its Donovan 2 copper-gold project in Mexico. Capstone will spending circa US$10mln to earn up to an 80% interest in the project,

Thor Mining PLC’s (LON:THR) latest sampling at the Pilbara Goldfield tenements project, in Western Australia, confirmed gold in stream sediments. Thirteen of 54 stream sediment sites had visible gold.

MetalNRG PLC (LON:MNRG) is planning a placing of up to £4.5mln after entering into a bid implementation agreement for the acquisition of Lake Victoria Gold Ltd (LVG). It plans to acquire 100% of its shares in issue via a share swap deal.

Europa Metals Ltd (LON:EUZ) has been awarded a €467,000 grant by the Centre for the Development of Industrial Technology, a Spanish government entity operating under the umbrella of the Ministry of Science and Innovation. The grant is for use towards the Toral project.

BlueRock Diamonds PLC (LON:BRD) sold 2,900 carats at an average price of US$300 per carat. The aggregate consideration amounted to just over US$870,000.

W Resources PLC (LON:WRES) has told investors it is “extremely encouraged” by the La Parilla mine’s performance in the month of September, as the Spanish operation began showing improved performance following a phase of upgrade work.

Mineral & Financial Investment Limited (LON:MAFL) has noted the start of work on Ascendant Resources Inc‘s autumn exploration program at the Lagoa Salgada VMS project in Portugal. Ascendant’s programme is part of a phased earn-in to the project.

Vast Resources PLC (LON:VAST) confirmed that the flotation plant at its Baita Plai mine in Romania is now fully operational and producing concentrate. The AIM-listed company also said that it is on track to surpass its initial copper sales delivery target included in the project production

Pembridge Resources PLC (LON:PERE) said a higher copper price gave a boost to its Minto mine in Canada in the three months to end September 2020. The mine was also helped by access to additional funding under the US$12.5mln prepayment facility with Sumitomo, said Gati Al-Jebouri, Pembridge’s chief executive and chairman.

FTSE 100 wraps up the week with 74 point gain; US stocks tumble again

Previous article

Directa Plus signs initial agreement to supply US lithium sulphur battery company

Next article

You may also like


Leave a reply

Your email address will not be published.

More in Latest News