Proactive weekly mining highlights: Pure Gold Mining, Anglo Asian Mining, Tharisa, Galileo Resources…

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Proactive weekly mining highlights: Pure Gold Mining, Anglo Asian Mining, Tharisa, Galileo Resources…

Pure Gold Mining Inc. (CVE:PGM) (LON:PUR) has agreed a non-brokered private placement of flow-through common shares to raise gross proceeds of C$15,000,000, with well-known Canadian investor Eric Sprott agreeing to be the back-end buyer of all of the offering.

Anglo Asian Mining PLC (LON:AAZ) chief executive, Reza Vaziri has said five new exploration discoveries at the company’s projects in Azerbaijan have the potential to “significantly increase the production and mine life” of the company.

Galileo Resources PLC (LON:GLR) told investors it has completed the acquisition of Botswana business Crocus-Serv which holds 21 exploration licences.

Salt Lake Potash Ltd’s (ASX:SO4) (LON:SO4) pumping of initial brine extraction drilled into the paleochannel at Lake Way SOP Project in Western Australia has delivered flow rates of 18 litres per second with a consistent potassium grade of 7,100mg per litre.

Danakali Limited (ASX:DNK) (LON:DNK) said it is on schedule to complete the second phase of developing the Colluli potash project in Eritrea, East Africa, from which first production of sulphate of potash (SOP) is on schedule for 2022.

Jubilee Metals Group PLC (LON:JLP) has worked out a low-cost deal to move fine-chrome operations from a joint venture to its larger operations elsewhere in South Africa.

Power Metal Resources PLC (LON:POW) and Red Rock Resources PLC (LON:RRR) joint venture Red Rock Resources Australasia has applied for new licences in the Victoria Goldfields of Queensland, Australia.

Arc Minerals Ltd (LON:ARCM) has acquired a further 20% interest in Zaco Investments Ltd, increasing Arc’s interest to 72.5% from 52.5%.

Conroy Gold and Natural Resources PLC (LON:CGNR) identified new geological and structural features on the Clontibret gold project which it says are important in regard to controls on high gold grades within the deposit. Later in the week, Conroy completed its £302,500 fundraising from February as a final £100,000 was paid by an investor.

Tharisa PLC (LON:THS) said first-half profit jump by 72% year-on-year, helped by a sharp increase in platinum group metal (PGM) prices.

Rainbow Rare Earths Ltd (LON:RBW) has completed a structural and lithological review of the Gakara rare earths project in Burundi which has confirmed high priority areas for the group’s ongoing exploration programme.

Chaarat Gold Holdings Ltd (LON:CCG) updated investors on production numbers for the Kapan mine in Armenia, which yielded 12,992 gold equivalent ounces in the first quarter.

Power Metal Resources Plc (LON:POW) highlighted a period of significant change and notable success as it released its financial results statement for the twelve months ended September 30, 2019.

Strategic Minerals PLC (LON:SML) said it has lodged a draft program for environment protection and rehabilitation (PEPR) for its Leigh Creek copper mine (LCCM) with the South Australian government.

Metal Tiger PLC (LON:MTR) announced a new investment, subscribing for £570,000 worth of shares in Trident Resources PLC (LON:TRR) which is currently raising £16mln, with shares priced at 20p each, as it prepares to float on London’s AIM market.

Metal Tiger PLC (LON:MTR) has borrowed around A$1mln as it agreed a further equity derivative financing with its lender, secured over shares it holds in Australian explorer Sandfire Resources.

Vast Resources PLC (LON:VAST) has raised £900,000 via a placing and subscription of just under 61mln shares at a price of 0.15p each.

Arkle Resources PLC (LON: ARK) has raised £250,000 via the issue of 33.3mln shares at 0.75p each.  

Oriole Resources PLC (LON:ORR) said it has received a rebate totalling £165,000 from Her Majesty’s Revenue and Customs in relation to a research and development (R&D) tax relief claim in respect of geoscientific advances sought by the company through its exploration programmes.
 

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