Alba Mineral Resources plc has acquired an option to earn into a portfolio of gold licences, including “near-term” production opportunities, in northern Tanzania. VALUE The move follows the company’s signing an option last week for the Finnsbo rare earth project in eastern Sweden. Alba said that the Tanzanian licences were in the same district as […]
Tag: extractive industries
Karelian appoints Brendan McMorrow as chairman
Karelian Diamond Resources plc has appointed non-executive director Brendan McMorrow as non-executive chairman with immediate effect. Mr McMorrow, who became a board NED in November 2018, replaces founder and executive chairman Professor Richard Conroy who died last month. Karelian is exploring for diamonds in Finland and copper, nickel and platinum group metals in Northern Ireland.
WGE survey indicates numerous anomalies at Lorne
Western Gold Exploration Ltd reported “strong depth and near-surface potential” from a 779-line km helicopter survey at the Lorne porphyry district in Argyll, Scotland. WIDESPREAD Magnetotelluric (MT) geophysics over the Lagalochan and Ardlochan prospects also identified “other possible porphyry-related centres” across the company’s Crown Mines Royal licence. The Canadian company said it was the first […]
Hummingbird faces delisting and buyout
Hummingbird Resources plc could be delisted and bought out after it agreed to convert US$30 million debt into shares for its main creditor. CHALLENGES Negotiations on debt restructuring continue with the company’s primary lenders Coris Bank International and CIG SA and its largest shareholder Nioko Resources Corporation. Hummingbird said that challenges at Yanfolila in southern […]
Panther issues 59,000 shares for CLNs
Panther Metals plc has issued 59,000 new ordinary shares each at £1.025 to remaining convertible loan note holders for £60,987 CLNs, including interest and a 4.25% extension premium. Following admission, the company’s total issued share capital consists of 4,226,720 ordinary shares. Panther holds no ordinary shares in treasury.
Ormonde-TRU positive on Golden Rose assays
Ormonde Mining plc’s investee has returned positive assays from exploration at the Golden Rose copper-gold project in the central Newfoundland gold belt, Canada. MODEL The company highlighted “significant” copper values from the Jacob’s and King George prospects, of up to 3.7% copper. Owner-operator TRU Precious Metals Corp, in which Ormonde owns 36.3%, also recorded anomalous values […]