Panther Metals plc has confirmed a 1.2km long open-ended gold trend from diamond drilling at Dotted Lake on the north limb of the Schreiber-Hemlo greenstone belt in Ontario, Canada. CORRELATION The company’s first phase I drill core assays also showed an intersection of “high grade zinc/gold volcanogenic massive sulphide-style mineralisation”. Drill hole DL24-001 returned “highly anomalous […]
Metals & Minerals
Karelian deputy chairman resigns
Karelian Diamond Resources plc deputy chairman and non-executive director Séamus Fitzpatrick resigned, effective today. The company said that Mr Fitzpatrick’s “significant” business interests in the USA had left him insufficient time for the company. “Seamus has confirmed his ongoing support and commitment to the success of Karelian and I would like to thank Seamus for […]
Hummingbird secures loan extension
Hummingbird Resources plc has secured a binding agreement with its major investors on a new loan extension. SUPPORT The transaction is with CIG SA and Nioko Resources Corporation regarding the new CIG loan. Shareholders voted in favour of converting the CIG US$30 million loan, dated 6 November, into new ordinary shares in a debt-to-equity conversion. The […]
FCM loan increases for North Hemlo-Sunbeam
First Class Metals plc’s existing loan has further increased from £500,000 to £700,000 for the North Hemlo and Sunbeam gold projects in Ontario, Canada. DRILLING The money from Seventy Ninth Group Ltd, which initially loaned £230,000 in June, adds to the investor’s proposed £2.18 million financing. Funds will be drawn in a single tranche and […]
Tertiary pauses Zambia projects until New Year
Tertiary Minerals plc has paused operations at three of its Zambia copper joint venture projects until after the Christmas and New Year break. DATA The company’s earn-in partner KoBold Metals drilled at Konkola West until 16 December but has yet to reach the target horizon. The programme is expected to resume on or around 7 […]
CMR chairman purchases loan notes balance
Critical Mineral Resources plc’s chairman has agreed to acquire the balance of the July convertible loan notes. VOTING RIGHTS Dominic Traynor will purchase in cash £325,619.17 of the balance due under the loan notes from the loan note holders. Under the terms of the CLNs, Mr Traynor will convert the balance into 29,601,743 new […]