Power Metal Resources plc has identified a second large geophysical conductor at the Molopo Farms Complex nickel-copper-platinum group element (PGE) project, southwest Botswana. T2-3 The company previously identified at target area T-16 where two holes are currently being drilled. Power Metal’s most recent findings follow anaylsis of data from ground-based electromagnetic (EM) as well as magnetic […]
Tag: precious metals
Kavango marks priority target areas in KCB copper-silver licences
Kavango Resources plc said it had delineated 13 priority target areas in four of its 12 copper-silver prospecting licences (PLs) in the Kalahari copper belt (KCB), Botswana. PROGRAMME The company’s field exploration has for the past 12 months focused on PLs 082/2018, 036/2020, 049/2020 and 052/2020. Kavango added it had finalised a flexible strategy, to […]
Shareholders back Ormonde’s €2.3m sale of La Zarza
Ormonde Mining plc has received 99.77% shareholder approval for the €2.3 million sale of its La Zarza copper-gold-zinc project in Spain. ACQUISITIONS The vote was held in the company’s extraordinary general meeting earlier today. Following completion of the sale, Ormonde will become an AIM Rule 15 cash shell and have to make an acquisition or acquisitions constituting […]
Ormonde cuts losses and considers next projects
Ormonde Mining plc’s “significant reductions” in management salaries resulted in more than halving losses from its base and precious metal operations in Spain. FINANCES For the six months ended 30 June 2022 the company’s results showed post-tax losses of €363,000 (2021: €630,000 loss). Ormonde held €3.4m in cash (€3.7m at 31 Dec 2021). OPERATIONS The company conditionally sold La Zarza for €2.3 […]
New Ballarat completes Berringa acquisition
New Ballarat Gold Corporation plc has completed the acquisition of the historic Berringa gold mine in the Victoria gold fields in Australia. LICENCE The joint venture subsidiary is between Red Rock Resources plc (50.1%) and Power Metal Resources plc (49.9%). The subsidiary’s holding company Red Rock Resources Australasia plc (RRAL) initially signed the agreement in […]
Scotgold lowers Q3 guidance following Cononish delays
Scotgold Resources Ltd has lowered production Q3 2022 guidance following delays at its Cononish gold and silver mine near Tyndrum in Scotland. PRODUCTION In its quarterly report, the Australian company said it had lowered its guidance to 2,000 ounces from the previous target of 2,900 to 3,500 oz gold. This is due to the delayed […]