Proactive weekly mining round-up: Centamin, Polymetal International, Eurasia Mining…
Centamin PLC (LON:CEY, TSX:CEE) said it will start a pre-feasibility study at its Doropo project and undertake a further exploration programme at its ABC project, both in the Ivory Coast, following the completion of a review of its West African exploration portfolio.
However, the Batie West project in Burkina Faso fell short of the gold miner’s investment criteria and so Centamin will carry out a review into third-party development options.
Polymetal International PLC (LON:POLY), a Russia and Kazakh-based precious metals miner, said it agreed US$400mln of new sustainability-linked financing with interest rates linked to Greenhouse Gas (GHG) emission intensity reduction targets. The financing consists of two loans obtained from AO Raiffeisenbank and UniCredit.
Eurasia Mining PLC (LON:EUA), a platinum group metals and gold producer, said it completed a private placement yesterday, raising about US$20mln to finance the joint venture with Rosgeo.
Tharisa PLC (LON:THS) said its growth strategy remains on track after a first half that saw steady improvements in mined and processed tonnes. Revenue in the six months to the end of March rose 61.2% to US$313.6mln from US$194.6mln the year before
Alien Metals Ltd (LON:UFO) said initial results from test leaching at the Elizabeth Hills silver tailings project in Western Australia showed high levels of silver recovery.
Caledonia Mining Corp PLC (LON:CMCL, NYSE:CMCL) announced an increase in reserves and resources at its 64%-owned Blanket gold mine in Zimbabwe. Proven and probable reserves increased 1% to 528,000 ounces
Shanta Gold Ltd (LON:SHG) said visible gold was identified in seven different intersections as part of an 11-hole drilling programme on the West Kenya project. The AIM-quoted company said 2,489 metres of drilling was conducted in March and April 2021 at the project’s Isulu deposit.
Chaarat Gold Holdings Ltd (LON:CGH) provided an updated JORC-compliant bankable feasibility study for its Tulkubash oxide gold project in the Kyrgyz Republic and said it is in the process of starting exploration works for the 2021 season
Power Metal Resources PLC (LON:POW) said an agreement has been reached for the acquisition of a 75% strategic interest in a UK special acquisition vehicle which is to acquire First Development Resources, an Australian private company. FDR Australia holds a portfolio of copper-gold focused exploration interests in the Paterson Province in the eastern Pilbara Region of Western Australia.
IronRidge Resources Ltd (LON:IRR) has hit additional broad and high-grade lithium pegmatite drill intersections at new targets adjacent to the Ewoyaa lithium project in Ghana.
AEX Gold Inc (LON:AEXG) (CVE:AEX) said critical contracts to advance the 2021 exploration and limited infrastructure early works programme at its Nalunaq gold mine in South Greenland have been signed and work is expected to start in early June.
Karelian Diamond Resources PLC (LON:KDR) said it raised £600,000 through a placing and subscription and a debt to shares conversion to fund drilling at its Lahtojoki diamond deposit in Finland.
Kodal Minerals PLC (LON:KOD) has kicked off aircore drilling and has added a second drill rig, reverse circulation (RC), at the Nielle project, Cote d’Ivoire.
ECR Minerals PLC (LON:ECR) has applied for three new licences in the north of Queensland, Australia.
Pembridge Resources PLC (LON:PERE) said it is planning to issue convertible loan notes worth up to US$2mln to fund potential future investment opportunities.
Panther Metals PLC (LON:PALM) said a new target has been defined at its majority owned Merolia gold project in Western Australia. “We are very pleased with the results of this first auger drilling programme over the Merolia gold project,” said chief executive Darren Hazelwood.
MetalNRG PLC (LON:MNRG), a natural resource investing and exploration company, said it has entered into an option agreement with BritEnergy Holdings LLP to buy additional shares in BritNRG Ltd for £545,000.