Scotgold Resources Ltd said it was in “advanced discussions” with a new strategic investor after its previous most advanced prospective investor withdrew from negotiations. ADMINISTRATORS The Australian company added that an agreed financing deal to develop the Cononish gold-silver mine, would provide sufficient funds to continue as a going concern. “Whilst financing discussions are at […]
Tag: precious metals
Alba Mineral dewaters Clogau to level 3
Alba Mineral Resources plc has dewatered the lower Llechfraith workings at Clogau-St David’s gold mine to level 3 and completed field work at the historic Caerwych mine site. LOWER LLECHFRAITH The programme began following Natural Resources Wales’ refusal to allow a higher pump rate after heavy rainfall reflooded the lower Llechfraith workings. The company said […]
Power Metal targets ‘high priority’ superconductor
Power Metal Resources plc has identified a high priority drill target on a superconductor at the 1,723km2 Molopo Farms Complex nickel-platinum group elements discovery, southwest Botswana. TWO CONDUCTORS A hole, drilled in 2022, to a depth of 520m failed to intersect the modelled superconductor which is on target area T1-14. The company then engaged a geophysicist […]
Power Metal exploration focuses on six targets at Tati
Power Metal Resources plc has restarted field exploration at its Tati gold project on the Tati greenstone belt near Francistown, Botswana. KEY AREA The owner-operator previously identified two gold-in-soil geochemical anomalies and continuity within the 8km gold trend at the site. Six unique additional target areas have now been identified for detailed soil sampling which is […]
CMR’s welcomes positive sampling results at Anzar
“Exceptionally” high copper and silver grades from channel sampling results along with the discovery of new mineralised layers have been reported at Anzar, central Morocco. SAMPLING Critical Mineral Resources plc (CMR) said that of a total 11 samples taken from random locations at three different historical mining sites, several returned “significantly higher grades than expected”. […]
Scotgold could appoint administrators ‘over coming days’
Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]