Pure Gold Mining Inc (CVE:PGM) (LON:PUR) this week said it has enough funds to kick off exploration drilling at its Red Lake gold mine development project in Ontario, as it revealed it had raised C$12.3mln from an exercise of share purchase warrants.
Asiamet Resources Ltd (LON:ARS) shares surged higher after it said investor Aeturnum has finalised all its due diligence workstreams and now intends to start further investment talks. In March, Aeturnum took a 19.9% stake in Asiamet and entered a period of exclusivity for a project level investment in the KSK contract asset, which kicked off technical and commercial due diligence work that is now complete.
Ariana Resources PLC (LON:AAU) managing director Kerim Sener told investors the average monthly production at the firm’s Kiziltepe gold mine in Turkey is “currently running above target”, on track to deliver on its 2020 production target of 18,000 ounces of gold.
Zanaga Iron Ore Company Limited (LON:ZIOC) said it has completed a concept study to assess the viability of a floating dewatering, storage and offloading port facility at its project in the Republic of Congo, demonstrating the potential “to enhance significantly the economics of the Zanaga Project through the reduction of upfront capital costs and enhanced internal rate of return”.
Shanta Gold Limited (LON:SHG) published an updated assessment of the reserves and resources at the Singida gold mining project in Tanzania, confirming a JORC compliant reserve of 243,000 ounces of gold.
Salt Lake Potash Ltd (ASX:SO4 LON:SO4 OTCMKTS:WHELF) said chemical analysis on a bulk sample from the Kainite harvest ponds at its Lake Way Sulphate of Potash (SOP) Project has revealed potassium grades above the modelled average.
Bluebird Merchant Ventures PLC (LON:BMV) said due diligence has been completed by its prospective South Korean lender and finance terms should be confirmed shortly over a US$5mln loan to be repaid from future gold production.
Mako Gold Ltd (ASX:MKG) told investors it has received binding commitments for a two tranche placement to raise A$3.25 million before costs, funding further exploration at the Napié Gold Project in Côte d’Ivoire, West Africa.
Amur Minerals Corporation (LON:AMC) (OTCMKTS:AMMCF), the nickel-copper sulphide mineral exploration and development company focused on the far east of Russia, said it has raised £0.5mln, before expenses, through a share placing to progress the development of its Kun-Manie project.
Bacanora Lithium PLC (LON:BCN) said it expects to reopen the Hermosillo pilot plant at its flagship Sonora lithium project in Mexico in June and that it has a “strong cash position” to weather market fluctuations caused by the coronavirus pandemic.
On Friday, Mkango Resources Ltd. (LON:MKA) posted its quarterly results for the three months to March 31, 2020, ending the period with US$7mln in cash. Earlier in the week Mkango had announced the launch of a project funded by an £1.9mln Innovate UK grant to recycle rare earth magnets into electric vehicles, with subsidiary Maginito holding a 25% equity interest in project partner HyProMag.
Metal Tiger PLC (LON:MTR) posted results showing it swung into the black in the last calendar year as the value of its 3.57% stake in Aussie-listed Sandfire Resources rose. Earlier in the week, the firm had said it is impressed by ongoing progress and results from Sandfire Resources’ Tshukudu project in Botswana.
Sunrise Resources PLC (LON:SRES) said its progress has not been impacted by the coronavirus pandemic as it has spent the period focusing all its efforts on the permitting for the CS Pozzolan-Perlite Project in Nevada, where the US Bureau of Land Management has set a June 15 deadline for the public to comment on the project’s environmental assessment.
Power Metal Resources PLC (LON:POW) revealed it has extended its option to acquire an additional 10% of the Haneti polymetallic project in Tanzania until the end of August, with an ongoing evaluation of approaches to take a stake or farm into the project.
Premier African Minerals Ltd (LON:PREM) provided an update to investors regarding a proposed increase to its stake in MN Holdings, the owner of the Otjozondu manganese mining project, reaffirming the basis for its proposed purchase of a further 7% interest for US$700,000.
And Eurasia Mining PLC (LON:EUA) this week appointed a new nominated adviser (nomad) and a non-executive director, and as well as updated investors on the status of its shares, which are currently suspended from trading on AIM.