UK Politics

Proactive weekly mining highlights: Europa Metals, European Metals, Horizonte Minerals, Condor Gold…

48Views

Europa Metals Ltd (LON:EUZ) shares surged on Friday after the group released a 40% resource upgrade for the Toral lead-zinc-silver project located in northern Spain. The new independent resource estimate is for 3.8mln tonnes with a zinc equivalent grade (including lead credits) of 8.3% and silver at 30 grams per tonne.

Earlier in the week, Europa signed an agreement with concentrate marketing agent Conrad Partners over product from Toral.

Galileo Resources PLC (LON:GLR) has kicked off a new programme of exploration on the Kalahari Copper Belt licences, in western Botswana.

Berkeley Energia Ltd (LON:BKY) has been granted a land-use permit for its Retortillo project by the relevant municipal authorities in Castilla y León, Spain. The permit, known as an Urbanism Licence, is needed for construction works at the Salamanca mine.

Arkle Resources PLC (LON:ARK) has restarted fieldwork at its Mine River and Inishowen gold projects in the Republic of Ireland.

Power Metal Resources PLC (LON:POW) said that final preparations for drilling on the Molopo Farms Complex project, which is partially controlled by the company, are now underway.

Panther Metals PLC (LON:PALM) has identified 253 geophysical anomalies at its Big Bear project on the Schreiber-Hemlo greenstone belt in Ontario, Canada, following a recently conducted airborne geophysical survey, with 39 designated for priority investigation.

There could be as much as two million ounces of gold in the ground at the old Nalunaq mine in Greenland, according to AEX Gold Inc (LON:AEXG)(CVE:AEX) chief executive Eldur Olafsson, the man tasked with getting operations there back up and running.

European Metals Holdings Ltd (LON:EMH)(ASX:EMH) said it has commenced drilling at the Cinovec lithium project in the Czech Republic, with the aim of establishing a measured resource.

Horizonte Minerals PLCs (LON:HZM) (TSE:HZM) chief executive Jeremy Martin described as a “major milestone” the agreement struck with five international banks tasked with raising the US$325mln required to get work underway at the group's Araguaia ferro-nickel project in Brazil. The mining company reported on Friday that it had £15.6mln in the bank as at the end of June 2020 following the royalty arrangement with Orion Mining Finance signed at the end of last year.

Condor Gold PLC (LON:CNR) shares rose on Thursday as it said it has “significantly” de-risked and progressed its La India gold project in Nicaragua. Condor later said its objective remains to begin site preparation and place a deposit on a processing plant by the end of 2020, the miner said as it reported quarterly and half-year results.

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) has completed the $A71 million institutional component of its fully underwritten A$98.5 million equity raising at A$0.50 per new ordinary share.

NQ Minerals PLC (LON:NQMI) has increased its debt restructuring facility with ING Bank to US$55mln.

Conroy Gold and Natural Resources PLC (LON:CGNR) is raising £800,000 through a placing and subscription of shares at 25p each.

Alien Metals Ltd (LON:UFO) said in the coming week it will give shareholders notice to approve the acquisition of the high-grade Elizabeth Hill silver project in Australia. Alien said later in the week that is had hired North American investment bank IBK Capital Corp to assist with project-level funding and the joint venture process for the Donovan 2 copper-gold project in Mexico.

Jubilee Metals Group PLC (LON:JLP) has tied up a deal that fully utilises its chrome processing capacity at the Windsor recovery plant in South Africa while acquiring access to new facilities in an agreement that will further enhance output. Under the terms of the transaction, it is targeting production of 40,000 tonnes of concentrate per month for the next three years.

Oriole Resources PLC (LON:ORR) said it is considering its options over an agreement to sell the Hasançelebi and Doğala mining royalties in Turkey.

Alongside its results, Pure Gold Mining Inc (CVE:PGM) (LON:PRead More – Source