Alba Mineral Resources plc reported “exceptionally high-grade sampling results” from No.4 level at the lower Llechfraith workings in Clogau-St David’s gold mine, north Wales. OPPORTUNITY The company said it was encouraged by the findings from refined composites of heavy mineral concentrates produced from processing more than 40 samples. From composite 1, recovery of gold weighed 3.1 […]
Month: November 2024
i3 Energy secures new CA$75m credit
i3 Energy plc has re-financed its existing CA$57m loan with a CA$75 million reserve-based credit facility. VALIDATION The new senior secured credit with a Canadian chartered bank comprises a $55m revolving facility and a $20m operating loan. The agreement also see repayment of $57m, which is the outstanding balance of i3 Energy’s existing $75m loan […]
Power Metal signs Saudi Arabia earn-in
Power Metal Resources plc has signed a binding earn-in for 15 tenements, mainly prospective for lithium, in Saudi Arabia. JOINT VENTURE The deal is with Australian company EV Metals Group plc’s special purpose vehicle RIWAQ Al-Mawarid for Mining (RIWAQ). An option over RIWAQ was rejected in June 2023 by Critical Mineral Resources under its then […]
Public consultation begins on Hemerdon MPF permit
Tungsten West plc said that the Environment Agency has begun a six-week public consultation on the mineral processing facility permit for the Hemerdon tungsten mine in Devon. The exercise is the final step before the EA can issue the permit. In February, the company said that the EA would “identify that they are ‘minded to’ […]
CAML targets stake in Aberdeen Minerals
Central Asia Metals plc, focused on North Macedonia and Kazakhstan, has conditionally invested an initial £3 million for a 28.7% stake in explorer Aberdeen Minerals Ltd. DRILLING With a footprint of 7,400ha (75km2) agreed with landowners, Aberdeen is exploring for nickel, copper and cobalt at the Arthrath project in Aberdeenshire, northeast Scotland. The company states […]
Power Metal mulls assets merger for uranium investors
Power Metal Resources plc might combine its uranium licences with some of its other assets to secure an investment agreement. OPTIONS The company, currently preparing Uranium Energy Exploration plc for listing, said it had seen interest from institutional, high-net worth and retail investors in the UK and elsewhere, “including a potential cornerstone investor”. “However, a number of significant […]