Altona Energy plc recorded £11 million impairment of historic Australian coal assets as the company continues its transformation into an African-focused rare earths miner. For the year ended 30 June 2020, Altona reduced loss before taxation to £228,000 compared with £11.6m during 2019. The impairment of the intangible assets of £11,033,000 was due to Altona […]
Metals & Minerals
Altona Energy share placing to raise £523,000
Altona Energy plc announced it had received subscription letters in respect of a further fundraising of approximately £523,000 before expenses, at an issue price of 6.5 pence per share. The company today said it had received £168,214 from the new investors and issued 2,587,909 new ordinary shares. The balance of the funds, £355,139, is expected […]
Altus tests show ‘excellent’ Tabakorole gold recoveries
Altus Strategies plc said it had excellent results from preliminary metallurgical test work on fresh rock samples at the FT Prospect of its Tabakorole gold project located in southern Mali. Bottle roll tests on core samples from diamond drilling at the FT Prospect indicated a straightforward, clean and non-refractory ore with low reagent consumption. The […]
Altus finds karst-style system at Lakanfla gold site
Altus Strategies plc announced it had confirmed a karst-style system and low-grade gold following 3,8000m reverse drilling and associated passive seismic surveys at its Lakanfla gold project in western Mali. The mining and royalty company said that results showed a karst-style system along a 6km margin of granite intrusion, and that drilling had intersected widespread […]
Altus marks more positive Diba gold drill results
Altus Strategies plc announced further encouraging results from the recently completed 10,308m reverse circulation (RC) drilling programme at its 100% owned Diba gold project in western Mali. Diba, located in the Kayes region of the country, hosts a shallow-dipping, near-surface gold deposit and several other prospect areas. The company’s current mineral resource estimate (MRE) for […]
Power Metal looks to increase Ontario assets
Power Metal Resources plc plans to increase its interests in Ontario just days after the company’s acquisition of gold projects in the Canadian province. FOOTPRINT The company has signed a 30-day option for four gold exploration properties in the Hemlo-Schreiber greenstone belt for a total C$260,000. McKellar comprises 58 mining claims over 12.3km² prospective for […]