Proactive weekly mining highlights: Pan African Resources, Eurasia Mining, Chesterfield Resources…
Eurasia Mining PLC (LON:EUA) shares soared as the Russia-focused miner returned to AIM following the clarification of its relationship with Chinese group CITIC Merchant Co. The company confirmed that it has entered a success fee-based engagement letter with CITIC to explore possible strategic options for its mining assets.
Chesterfield Resources PLC (LON:CHF) said that recently restarted percussion drilling at the Troodos West licence area has encountered significant intersections of sulphide mineralisation. Two intersections were encountered at the Evlim target in percussion holes.
Galantas Gold Corp (LON:GAL) told investors that it understands financial matters have now been mutually agreed in connection to a proposed increase in underground blasting at the Omagh mine in Northern Ireland. The company’s ore mining is presently suspended until finance is available to expand the underground operation.
Caledonia Mining Corporation PLC (LON:CMCL) said production in the last quarter was an outstanding achievement, with gold output rising 6.2% at 13,499 ounces in the three months ended June 30, 2020. Production in the first half of 2020 rose12.5%.
NQ Minerals PLC (AQSE:NQMI) hailed “ excellent” production metrics for the second quarter of 2020. The company said its Hellyer gold mine in Tasmania produced a total of 8,762 tonnes of lead concentrate in the three months ended June 30, 2020, while zinc concentrate volumes amounted to 4,241 tonnes.
Highland Gold Mining Limited’s (LON:HGM) four operating mines produced 61,357 ounces of gold and gold equivalent in the second quarter, in line with forecasts. In the same period of last year, 70,293 ounces of gold were produced.
Ariana Resources PLC said gold production at the Kiziltepe Mine in Turkey in the three months to the end of June was higher than anticipated. Kiziltepe, which is part of the Red Rabbit 50/50 joint venture produced 4,679 ounces.
IronRidge Resources Ltd (LON:IRR) released initial drill results from its ongoing second phase programme at the Zaranou gold project in Côte d’Ivoire. They comprised multiple high-grade and also broad low-grade results from the Ehuasso target area.
Salt Lake Potash Ltd (LON:SO4) said it has procured 90% of all major long-lead items for its process plant and non-process infrastructure in line with or ahead of schedule for its Lake Way Project. The project in the Goldfields region of Western Australia remains on track for first sales in the March 2021 quarter.
Red Rock Resources PLC (LON:RRR) noted the proposed listing by Jupiter Mines (ASX:JMS) of its Central Yilgarn of its iron ore assets. Red Rock has a holding in Jupiter Mines valued currently at approximately A$4.35mln.
Cornish Lithium said it has raised just over £826,000 from shareholders. This money will be used to continue exploration for lithium in Cornwall.
Thor Mining PLC (LON:THR) (ASX:THR) said it has received positive vanadium potential from field sampling in the Colorado mineral claims held by American Vanadium. Other samples, identified as potentially uranium-rich, are being assayed at a separate laboratory facility.
Ferrexpo PLC (LON:FXPO) produced 2.9mln tonnes of iron ore pellets in the second quarter of 2020, up 5% on the 2.9mln tonnes produced in the first quarter. Overall production for the first half rang in at 5.6mln tonnes.