Power Metal Resources plc said it was preparing for the most effective way to develop target areas in its gold, rare earth element (REE) and uranium projects in Australia. WALLAL-BRAESIDE WEST-RIPON HILLS The company owns 83.33% of local company First Development Resources Ltd (FDR), which plans to list on the London capital markets in Q3 2022. FDR recently completed a […]
Tag: precious metals
New Ballarat pauses drilling for results at Victoria
New Ballarat Gold Corporation plc joint venture (JV) has paused drilling to await assay results from exploration in the Victorian gold fields, Australia. JOINT VENTURE The JV comprises Red Rock Resources plc (50.1%) and Power Metal Resources plc (49.9%). New Ballarat has a 100% interest in Red Rock Australasia Pty Ltd (RRAL). INITIAL RESULTS The company completed […]
Oriole receives £403,000 R&D tax rebate
Oriole Resources plc said it had received a tax rebate of £403,000 in relation to “geoscientific advances sought by the company through its exploration programmes” in West Africa. GEOLOGICAL DATA The company made the research and development (R&D) tax relief claim from Her Majesty’s Revenue and Customs for the year ended 31 December 2021. Oriole added […]
Scotgold signs £3m loan with Fern Wealth
Scotgold Resources Ltd said it had entered into an agreement with Fern Wealth GmbH for up to £3 million to advance the Cononish gold-silver mine near Tyndrum in Scotland. FERN WEALTH The company added that the loan would be from a syndicate of high net worth investors. Fern Wealth is a wealth management company based […]
Hummingbird notes thicker mineralisation zones at Kouroussa
Hummingbird Resources plc said it had identified thicker mineralisation zones than originally believed as it reported further drill results at the Koekoe (KK) deposit at Kouroussa, Guinea. PROGRAMME The assay results are from a further 86 reverse circulation (RC) and 12 diamond drill holes which comprise 9,900m of a 24,000m infill 2021 drilling programme. The […]
Hummingbird on schedule for Kouroussa first gold pour
Hummingbird Resources plc said it had started civil works as remained on course to achieve first gold pour by the end of Q2 2023 at Kouroussa, Guinea. WORK PROGRAMME Chief executive Dan Betts added that the company would double its current production profile once the mine was in operation. Earthworks are nearly complete at the […]