Altona Rare Earths plc has signed an memorandum of understanding for up to a 70% earn-in of the Monte Muambe rare earths project in northwest Mozambique. OPEN PIT Altona, which also has rare earth interests in southeast Uganda and southern Malawi, signed the MoU with Ussokoti Investimetos Limitada to start a legal and technical due […]
Metals & Minerals
Oriole cuts losses by 81% and raises £2.37m
Oriole Resources plc reduces losses by more than 80% and raised £2.37 million through its portfolio of assets in Africa and Turkey. The company said that the significant reduction was partly driven by an unrealised foreign exchange gain of £317,000, compared with a £445,000 exchange loss in 2019. The remaining sum of £578,000 was the […]
Altus finds potential new zone at Tabakorole gold project
Altus Strategies plc said it had discovered a potential new parallel zone of mineralisation at the Tabakorole gold project in Southern Mali. The final results from a 6,300 metres reverse circulation (RC) drilling programme also show an extension of the current strike length of the project. Exploration at Tabakorole is funded by Marvel Gold Ltd […]
Oriole agrees gold exploration budget for Senala
Oriole Resources plc said it had reached an agreement over an underspend with its joint venture partner of £1.8 million at the Senala gold project in Senegal. Earlier in March, IAMGOLD Corporation had requested to carry forward US$172,000 from Year 3 into Year 4. bityl.co/660c As per the terms of the option agreement, IAMGOLD proposed […]
Oriole completes one third drilling at Bibemi
Oriole Resources plc announced it was now a third of the way through its planned diamond drilling programme at the Bibemi gold project in Cameroon. The company will drill 3,080 metres for 28 holes, with a total of 967.50m completed to date in nine holes, BBDD001 to BBDD009. The programme is testing the depth extension […]
Altus raises £7.7 million via placing and subscription
Altus Strategies plc announced it had conditionally raised £7.7 million (CA$13.35m) before expenses by way of an oversubscribed placing and subscription of 10,266,668 new ordinary shares at an issue price of £0.75 per share. Altus has a balance sheet of £12.5m in cash and £1.5m in listed equities. The company said the fundraising had attracted […]