Proactive weekly mining round-up: Rio Tinto, Eurasia Mining, Kodal Minerals …

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Rio Tinto PLC (LON:RIO) appointed Peter Cunningham as chief financial officer with immediate effect. Cunningham has been interim CFO at the mining giant since 1 January 2021 when his predecessor Jakob Stausholm was moved up to the top job.

Eurasia Mining PLC (LON:EUA) is proceeding with its plans to create a series of joint venture companies with partner Rosgeo. On 26 March 2021, Eurasia signed a binding agreement to create a joint venture with Rosgeo in which Eurasia will own a 75% equity stake in nine platinum group metal and battery metals assets

Kodal Minerals PLC (LON:KOD) said geochemical sampling continues to return high-grade surface samples at its Dabakala gold concession in central Côte d’Ivoire. “We are making great progress with our gold exploration programmes in Côte d’Ivoire,” said chief executive Bernard Aylward.

Imperial X PLC (LON:CDL) and Alianza Minerals Ltd (TSX-V:ANZ) have formed a strategic alliance, the Southern US Copper Exploration Alliance, to explore for copper deposits in the US. The alliance will focus on the identification, acquisition and advancement of copper projects in Arizona, Colorado, New Mexico and Utah. The two companies intend to find a partner to develop the projects further.

Kavango Resources PLC (LON:KAV) has identified an electro-magnetic anomaly in Target Area C in the Hukuntsi section of the Kalahari Suture Zone project. Designated Target C1, the conductive anomaly is located 11km from Target A2, which was first announced in April 2020.

Horizonte Minerals PLC (LON:HZM) said it is close to finalising a debt finance package for the construction of the Araguaia Nickel Project in Brazil Due diligence has been completed by five international banks for the US$325mln sum, Horizonte said, with credit approval expected to be received in the third quarter of this year.

Pembridge Resources PLC (LON:PERE) hailed an agreement by which the Minto copper project in Canada, in which it owns a major stake, will list on the TSX Venture Exchange via a reverse takeover. Minto Explorations Ltd will reverse into a Canadian shell company.

Empire Metals Ltd (LON:EEE) said it started exploration activities on the four exploration licences of the Central Menzies gold project in Western Australia. The work included verifying historical drilling results and the acquisition of airborne geophysical survey data

W Resources PLC (LON:WRES) said it successfully completed the construction of a new water dam at the La Parrilla mine in Spain to resolve the issue of the high water levels. Dewatering of the mine pit is now underway and once water levels are reduced the team will be in a position to safely regain access to high-grade ore areas.

ECR Minerals PLC (LON: ECR) has announced results from recent soil sampling undertaken within the Historic Reserve #3 at Bailieston in Victoria, Australia. “I am delighted to announce further positive exploration news, this time from the implementation of a soil sampling programme utilising an innovative exploration methodology at HR3 that has revealed particularly high gold grades in soils and therefore identified a new target for drilling,” said ECR chief executive Craig Brown.

AfriTin Mining Ltd (LON:ATM) produced 183 tonnes of tin concentrate from its Uis mine in Namibia during the first quarter of the 2022 financial year. The concentrate contained 114 tonnes of tin metal and exceeded the production target.

Oracle Power PLC (LON:ORCP)(AQSE:ORCP) returned positive geochemical sampling results from its maiden orientation survey at its 100% owned Jundee East gold project in the Eastern Goldfields region of Western Australia

Ncondezi Energy Ltd (LON:NCCL) signed a term sheet with binding exclusivity with Nesa Capital (Pty) Ltd and Nesa Engineering (Pty) Ltd detailing the proposed formation of a new joint venture company to create a leading regional Southern African champion in the commercial and industrial renewable energy and storage sector.

Caerus Mineral Resources PLC (LON:CMRS) is continuing with due diligence drilling on the recently acquired Troulli project and results so far have significantly exceeded expectations.

Sunrise Resources PLC (LON;SRES) agreed to sell two Nevada-based gold prospects to Power Metal Resources PLC (LON:POW). Consideration for the Garfield and Stonewall Properties is £82,000 comprising £20,000 cash plus new Power Metal shares with a value of just short of £62,000 and additional warrants.

Trident Royalties PLC (LON:TRR) appointed Paul Smith as its new non-executive chair, with effect from 21 June. Smith was formerly a senior executive at Glencore and was with the mining and commodities trading firm for nine years. He was most recently head of strategy for the group before leaving in 2020.

Condor Gold PLC (LON:CNR)(TSE:COG) has commenced a 1,700 metre infill geotechnical drilling programme within the permitted La India open pit in Nicaragua. Two diamond drill rigs have been deployed.

Panther Metals PLC (LON:PALM) announced the completion of data processing from airborne geophysical programmes on its wholly-owned projects in Western Australia and the Northern Territory.

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