New Ballarat Gold Corporation (NBGC) reported “extensive gold confirmed” from diamond drill results at the Berringa gold mine joint venture (JV) project in Victoria, Australia. POTENTIAL Partners comprise Red Rock Resources plc (51.1%) and Power Metal Resources plc (49.9%). The limited 988m inaugural drill programme of six holes aimed to test three potential sites of South […]
Tag: precious metals
Kavango in talks for £6m investment
Kavango Resources plc is in talks for a £6 million investment in the company and a potential new project for gold exploration in Zimbabwe. INVESTOR The investment by a single investor would be via a non-brokered direct subscription for a proposed price of 1p per share. The transaction is subject to regulatory and shareholder approvals. […]
Alba ‘very bullish’ as losses rise with operations on hold
Alba Mineral Resources plc reported an increase in losses but remained “very bullish” while it continues to await permits for the Clogau-St David’s gold mine in Wales. FINANCES Final results for the year ended 30 November 2022 showed operating losses of £1,623,000 before impairments (2021: £1,067,000). The figure reflected a full year of administrative expenses […]
Galantas to extend loans after losses rise
Galantas Gold Corporation aims to extend its current loans after it recorded more than a three-fold increase in losses at Cavanacaw gold mine in Omagh, Northern Ireland. FINANCES For the year ended 31 December 2022, Galantas’ financial statement showed net loss rose to C$16,633,939 due to a property, plant and equipment impairment of $10,124,920 (2021: loss […]
Hummingbird begins commissioning Kouroussa plant
Hummingbird Resources plc has started commissioning of the processing plant ahead of first gold pour this quarter at Kouroussa open pit gold mine in Guinea. PREPARATIONS The high grade gold mine, at over 4 g/t, is the company’s second operating gold asset in West Africa, after Yanfolila in Mali. Hummingbird said that practical completion on […]
FCM to advance exploration before sale or JV for Ontario licences
First Class Metals plc said it planned to advance it exploration strategy before selling or entering a joint venture (JV) for its metals’ licences in Ontario, Canada. STRATEGY In the company’s final results for the year ended 31 December 2022, chief executive Marc Sale added that most of the six out of nine properties explored […]