Proactive weekly mining highlights: Europa Metals, Resolute Mining, Anglo Pacific, Rainbow Rare Earths, Anglo Asian Mining…
Europa Metals Ltd (LON:EUZ), the lead-zinc and silver projects developer, has hailed high-grade recovery results from the second phase metallurgical testing at its Toral project. The results demonstrate the potential for high-grade saleable and marketable Pb and Zn concentrates, Europa said and were at the higher end of management’s expectations.
Resolute Mining Ltd (ASX:RSG) (LON:RSG) has received “highly encouraging” oxide gold drilling results from ongoing exploration at satellite deposits of the Syama Gold Mine in Mali, West Africa. Syama North results demonstrate the potential for a return to oxide mining at areas near previously mined open pits while at Tabakoroni a new zone of shallow oxide mineralisation has been identified.
Rainbow Rare Earths Ltd (LON:RBW) shares jumped higher on Wednesday as it told investors that it has now exported a further 100 tonnes of concentrate, in addition to the 75 tonnes sold in February. The company noted that in Burundi the impact of the coronavirus (COVID-19) pandemic has been limited to the closure of certain borders and airports, but the import and export of goods continues to be permitted via the land border with Tanzania.
Anglo Pacific Group PLC (LON:APF) is in “a very strong position currently,” says Julian Treger, the company’s chief executive. London’s only mining royalty company of any scale put out full year results on 7 April, and they were good, showing new records in terms of revenues and earnings, and highlighting that it has access to a huge amount of financial firepower.
Power Metal Resources PLC (LON:POW) has unveiled the conditional acquisition of a 51% interest in the Ditau project in Botswana for £150,000 from Kavango Resources PLC (LON:KAV).
Anglo Asian Mining PLC (LON:AAZ) has repeated previous guidance that its revenues will exceed US$100mln this year. The Azerbaijan-focused gold miner said output was 18,216 ounces on an equivalent basis in the three months to March, but helped by gold’s strength relative to copper there was a dip in gold production to 15,874 ounces.
Galileo Resources PLC (LON:GLR) has said it is to assume the rights owned by Enviro Mining Ltd, a subsidiary of BMR Group PLC, with the exception of the Kabwe small scale mining licence and associated rights to property and plant held by Jubilee Group Metals (LON:JLP).
Ariana Resources PLC (LON:AAU) continues to mine strongly from its Kiziltepe mine in Turkey with the gold producer noting that ore production was at a record level last quarter and gold output 14% was ahead of guidance.
Strategic Minerals PLC (LON:SML) said it has increased underlying sales at its Cobre iron ore tailings project in New Mexico by almost 9% for the twelve-month period to March in spite of the coronavirus pandemic.
The Cobre operation introduced social distancing measures early, which has allowed it to stay open even though the copper mine next door has closed temporarily.
W Resources PLC (LON:WRES) has said that production from the La Parrilla mine in Spain is “building”, though there have been challenges.
The company noted that full-scale operations were put on hold in late March due to the Spanish State of Emergency amid the coronavirus (COVID-19) pandemic shutdown, but these have since been lifted for mining operations.
Red Rock Resources PLC (LON:RRR) has relayed commentary from associate Jupiter Mines Ltd (ASX:JMS) on the operations of the Tshipi operations and South Africa’s national lockdown due to the coronavirus pandemic.
Bluejay Mining PLC (LON:JAY) said it has signed a memorandum of understanding with a multinational commodity trading company and major ilmenite market participant, with a target of 200,000 tonnes per year of ilmenite production as part of ongoing commercial discussions.
Jubilee Metals Group PLC (LON:JLP) moved higher on Friday after it said it has recommenced its operations in South Africa in “strict adherence” to the country’s coronavirus pandemic lockdown rules.
The metals processing firm said its Inyoni Surface platinum group metals (PGM) and chrome operation has resumed production, while its Windsor joint venture is preparing to recommence production “shortly”.
Base Resources Limited (LON:BSE) has told investors that operations at the Kwale project in Kenya continue uninterrupted, with procedures in place to minimise the coronavirus (COVID-19) risks to its personnel and communities.
Kodal Minerals PLC (LON:KOD) has told investors that its exploration permits have been renewed for the Dabakala and Korhogo gold properties in Côte d’Ivoire.
Cadence Minerals PLC (LON:CNC) chief executive, Kiran Morzaria, provided an upbeat assessment of the potential of the Amapá iron ore project in Brazil after the green light was given to begin high-grade exporting stockpiled material to China.
Shipments are likely to start in “late Q2, early Q3”, he confirmed, adding: “We are in advanced discussions with off-takers and contractors, including the local port authorities and trucking companies.”
Alien Metals Ltd (LON:UFO) has revealed the results of its induced polarisation survey at the Donovan 2 copper-gold project in Mexico.
Bluejay Mining PLC (LON:JAY) has expanded its footprint in Greenland after it was awarded two licences spanning some 2,025 square kilometres.
Chaarat Gold Holdings Ltd (LON:CGH) has unveiled plans to raise at least US$12mln through a share placing in a bid to “opportunistically strengthen its balance sheet”.
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has received strong endorsement of its sulphate of potash (SOP) strategy by raising A$20mln (£10.2mln) in a placement well-supported by institutional shareholders.
Vast Resources PLC (LON:VAST) said it has raised £600,000 in a share placing to maintain working capital ahead of the anticipated conclusion of its Chiadzwa Community Diamond Concession joint venture in Zimbabwe.
Metal Tiger PLC’s (LON:MTR) part-owned associate Cobre published assay results confirming the presence of high grade mineralisation at the Perrinvale project, in Western Australia.