Proactive weekly mining highlights: Caledonia Mining, Ormonde Mining, Anglo Pacific, NQ Minerals, BlueRock Diamonds…
Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) said production at its Blanket gold mine in Zimbabwe was up sharply year-on-year in the first quarter of 2020, with 14,233 ounces of gold produced. This was up 19% on the 11,948 ounces produced in the first quarter of 2018.
Ormonde Mining plc (LON:ORM) has said it expects to see more new investment opportunities arise as a result of the present macroeconomic environment, given the turmoil created by the coronavirus pandemic. More than 60 new opportunities have been assessed over the past two months and a number of those are now being considered “for advancement”.
Anglo Pacific Group PLC (LON:APF) revealed it delivered record income in the year to December 31, 2019. The company saw its royalty related revenue hit a record £55.7mln, an increase of 21% on the previous record in 2018, driven by a strong performance at the Kestrel coal mine in Australia.
NQ Minerals PLC (LON:NQMI) produced 8,127 tonnes of lead and 4,609 tonnes of zinc from its Hellyer gold mine in Tasmania during the first quarter. The mine has been designated “essential” by the Tasmanian government and is still operating during the current coronavirus pandemic.
BlueRock Diamonds PLC (LON:BRD) has said it produced 2,503 carats of diamonds in the first quarter of 2020, an increase of 76%.
Horizonte Minerals PLC (LON:HZM) highlighted, in its final results for 2019, that it is well-funded through the current global coronavirus (COVID-19) crisis.
Erris Resources PLC (LON:ERIS) halved its losses last year and closed out the period with €1.4mln cash in the bank as it continues with exploration projects in Ireland, Norway and Scotland.
Anglo Asian Mining PLC (LON:AAZ) has made a further shipment of gold doré containing 4,688 ounces of gold to MKS Finance. The company has received advance sale proceeds of approximately 90% of its share.
ECR Minerals PLC (LON:ECR) has raised £500,000 via a placing to support its ongoing activities, particularly in relation to its gold exploration projects in Victoria, Australia.
Resolute Mining Limited (ASX:RSG LON:RSG) has committed more than US$1 million to support West African host governments in their response efforts to combat the COVID-19 pandemic.
Power Metal Resources PLC (LON:POW) shares rose on Wednesday as investee company Katoro agreed to sell its Imweru gold project.
Oracle Power PLC (LON:ORCP) said project planning continues despite the temporary slowdown caused by restrictions to prevent the spread of the coronavirus pandemic.
Chaarat Gold Holdings Limited (LON:CGH) has agreed to extend the maturity date of a US$17mln loan and accrued interest of US$2.4mln to December 31, 2020, from March 31.
Premier African Minerals Limited (LON:PREM) revealed it has signed a US$200,000 secured loan agreement to support ongoing development and provide additional working capital.
Eurasia Mining PLC (LON:EUA) executive chairman Christian Schaffalitzky has said the company’s mining operations are “ongoing without any impact of [coronavirus]” as it updated investors on its progress.
Panther Metals PLC (LON:PALM) told investors that its directors have taken a 51% pay cut as part of measures made in response to the challenges created by the coronavirus (COVID-19) pandemic.
Similarly, Pembridge Resources PLC (LON:PERE) chairman and chief executive, Gati Al-Jebouri has reduced his salary by 50%.
Pensana Rare Earths Plc (ASX:PM8) (LSE:PRE) has appointed one of Europe’s leading investment banking boutiques as its investor relations adviser in Europe.