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Mining, Resources and Basic Materials News

Resource stocks (as opposed to mining stocks) tend to be companies with a resource of material, with no need to “mine” to get to it.and data on Pan European listed mining and resource stocks. Mining is a process of extraction of materials (the resource) from the earth, usually (but not always) from an ore body, vein or seam. Any material that cannot be grown from agricultural processes, or created artificially in a laboratory or factory, is usually mined.

25 Jan 2017

Rambler Metals plans to reach 1,250 mtpd by mid-2017

Rambler Metals (RMM:AIM) (RAB:TSXV) The company provided production guidance for the 2017 fiscal year, which will now be the same as the calendar year. Also provided five month Stub period for production ending December 31, 2016 as they transition their fiscal year. Saleable metal for 2017 is expected to be 5,100-5,800 tonnes of copper and […]

19 Jan 2017

Rambler Metals DMS testing increases grade 1.4x with 93.6% recoveries.

Rambler Metals (RMM:AIM) (RAB-TSXV) The company has been testing the use of Dense Media Separation (‘DMS’) as a pre-concentration step before milling of the ore in the processing plant with the objective of expanding the Ming Mine beyond the current planned 1,250 metric tonnes per day (‘mtpd) mining rate. The test processed 2,200 dry metric […]

19 Jan 2017

Shanta Gold record annual gold production

Shanta Gold (SHG:AIM) The company reported record annual gold production for 2016 of 87,713 oz; beating guidance of 82k-87k oz. All in sustaining cost for 2016 was US$661/oz which was lower than guidance of US$690-740/oz and an improvement over 2015 AISC of US$845/oz. Q4 2016 production was 18,897 oz Au, at AISC of US$747/oz. The […]

17 Jan 2017

Mariana Resources PEA shows post-tax NPV of US$1.37 billion.

Mariana Resources (MARL:AIM) (MARL:TSX-V) Mariana announces a positive preliminary economic assessment (PEA)  for the Hot Maden underground mining project, 30% owned with Tukish partner Lidya who owns 70%. Post-tax NPV US$1.37 billion. Post-tax IRR for the base case mining 153% excluding acquisition costs. Total metal production of 2.6 million ounces of gold and 142,000 of copper over […]

11 Jan 2017

Hummingbird Resources reports mine construction at Yanfolila underway

Hummingbird Resources reports that in Q4 16 it started construction of the Yanfolila gold mine, in Mali. The US$70 million mine is expected to begin production at the end of 2017 and is projected to produce an average of 107koz/y of gold at a low AISC of US$700/oz.   In October 2016, the first concrete […]

11 Jan 2017

Tharisa, 2017 will be a definitive year

Tharisa plc (THS:LSE) The company reported solid production results for Q1 2017, period ended 31 December 2016. Produced 34.8 koz of PGM and 322.2 kt of chrome concentrate in the quarter, compared to 24 koz of PGMS’s and 272.1 kt of chrome in the same quarter 2015. Out of the chrome production 77.1 kt was […]

09 Jan 2017

Toachi Mining intersects 15.89m@7.63 g/t Au, 49.74 g/t Ag, 2.4% Cu

Toachi Mining (TIM:TSX-V) The company reported results from its on-going drill program at La Plata, a gold-rich volcanogenic massive sulphide (“VMS”) project in Ecuador. A first phase metallurgical optimisation programme has also been initiated. Hole CMLP-16-14: 15.89m@7.63 g/t Au, 49.74g/t Ag, 2.40% Cu, 11.82%Zn an 0.97%Pb from 135.57m. Included within this zone is a higher grading […]

06 Jan 2017

Polo Resources looks to change investment policy

Polo Resources will send a Circular to adopt a new investing policy in accordance with AIM Rule 8 and a Revised Share Options Plan. The Company became an investing company under AIM Rules in July 2010 to invest in the resource and energy sectors. Whilst the Board is seeing improvements in market sentiment across the natural resources […]

20 Dec 2016

Gemfields ruby auction raises US$30 million

Gemfields plc has completed its seventh auction of rough rubies from the Montepuez ruby mine, in Mozambique, in which it has a 75% interest (local partner 25%). The auction raised US$30.4m, the fourth highest ruby auction total to date. The company sold almost 1.1 million carats (85% by value of the total offered) at an […]

13 Dec 2016

Positive feasibility results for Dalradian’s Northern Ireland gold mine

Dalradian Resources has received a positive feasibility study on its 100%-owned Curraghinalt gold project, in Northern Ireland. The study was prepared by JDS Energy and Mining Inc, supported by SRK Consulting. Based on reserves of 5.24 Mt at grades of 8.54 g/t gold and 3.9 g/t silver, for 1.44 Moz of gold and 0.66 Moz […]

08 Dec 2016

Dalradian Resources test Stope 3 recovers 35% more gold than anticipated

Dalradian Resources (DALR:AIM) (DNA:TSX) A  third stope test was conducted to validate the long-hole mining method on a shallow dipping (50-55 degrees) portion of the vein, located 60 metres below the surface on the V-75 vein at the deepest point of the current development. In comparison Stopes 1 and 2 had dips of 73 degrees and […]

06 Dec 2016

Hummingbird Res. gold project now fully funded

Hummingbird Resources (HUM:AIM) The Project capex for Yanfolila of US$88 million, is now fully funded. After a rigorous due diligence process, Taurus Funds Management Pty Limited has agreed to provide a US$45 million Senior Secured Term Facility and a US$10 million Cost Overrun Facility for the Yanfolila Gold project in Mali. The existing Bridge Loan […]

24 Nov 2016

Wolf receives important approvals from planning authorities

Wolf Minerals has received approval to operate its tungsten plant on a 24/7 basis, permanently, and  permission to extend mining activities to 2036. Both permissions will have a significant impact on future production at its Drakelands open-pit mine, in Devon. On 23 November, Devon County Council (DCC) extended the mine’s planning permission from 2021 to […]

24 Nov 2016

Atalaya Mining 97% production increase from Q2 2016

Atalaya Mining Plc (ATYM:AIM) (AYM:TSX) As a result of an increase in volume of copper concentrate sold, lower cash costs and higher realised copper prices, EBITDA improved significantly in Q3 2016 to €1.9 million compared to a loss of €3.6 million for H1 2016. Atalaya, had a 97% increase in the production of tonnes of […]

17 Nov 2016

Sierra Metals, discovery at Yauricocha mine in Peru

Sierra Metals (SMT-CN) The discovery of a new high grade sulfide zone 200 meters north of the central mine, along strike and adjacent to current mining activities, contributes to the future growth potential of the company. Underground drilling intersects several wide high-grade copper, lead, zinc and silver sulfide intercepts at the Cuye-Mascota area of the […]

16 Nov 2016

Savannah Resources, assays reveal high grade zones of copper

Savannah Resources (SAV:AIM) Final results for the resource drilling program at the Mahab 4 prospect in Block 5, Oman reveal high grade zones of copper. Mahab Resource Drilling: 14.25m@3.86% copper, 0.62% zinc and 0.22 g/t gold from 109.1m. Mahab 4: 67.4m@4.64% copper, 1.13% zinc and 0.3 g/t gold from 18.6m incl. 35.4m@8.3% copper, 2.1% zinc and 0.4 […]

14 Nov 2016

Serabi Gold record Q3 production and profit

Serabi Gold (SRB:AIM) (SBI-CN) In the quarter the company was able to achieve record production, reduce debt and dramatically increase profit for the nine months ended September 30, 2016. The company achieved record Q3 2016 gold production of 10,233 oz, compared to 9,896 in Q2 2016. The addition of a third ball mill, a second flotation […]

14 Nov 2016

Jubilee Platinum sees improvement in gross profit for 2016

Jubilee Platinum Plc (JLP:AIM) Released results for the year ended 30 June 2016. Loss for the year was 3.67m vs 3.44m for 2015. Total comprehensive 2016 loss improved to (£1m) vs loss of (£7.94m) in 2015; due to exchange rate differentials on foreign operations.  There was an improvement in gross profit at 865k vs 23k […]

10 Nov 2016

Gem Diamonds stays on track, Q3 update.

Gem Diamonds Limited (GEMD:LSE) The company is on track to achieve full year production guidance at Letšeng, despite extreme weather disruptions. In Q3 2016: 24,388 carats were recovered at Letšeng, compared to 28,682 carats in Q2 2016. The weather conditions restricted access to the pits, therefore ore was sourced from surface stockpiles which resulted in a reduction […]

10 Nov 2016

Ariana Resources completes Tavsan scoping study, pre-tax IRR 80%

Ariana Resources Plc (AAU:AIM) The completion of a scoping study for the Tavsan Project in Turkey reveals excellent results. Tavsan is part of the Red Rabbit JV with Proccea Construction Co. and will be 50% owned by Ariana once mine construction at the Kiziltepe Sector is completed in Q4 2016. The Tavsan project is planned to be […]

08 Nov 2016

Savannah – initial heavy mineral sands resource defined.

Savannah Resources Plc (SAV:AIM) Announces an initial resource estimation on the Jangamo and Dongane deposits which form part of the Mutamba project in Mozambique. Savannah currently holds a 10% interest in the Mutamba project with partner Rio Tinto and has the right to earn 51% upon completion of key milestones. CEO, David Archer said: “Savannah believes that […]

03 Nov 2016

Anglo Asian Mining lowers AISC to US$703

Anglo Asian Mining Plc (AAZ:AIM) Gold, copper and silver production & exploration in Azerbaijan; the company posted an updated investor presentation today. The presentation provides details of the all in sustaining costs per ounce of gold produced at their Gedabek mine in Western Azerbaijan. Target production for the full year to 31 December 2016 is 73k – […]

01 Nov 2016

Gemfields Q1 2017 sees significant reduction in unit cost of rubies

Gemfields (GEM:AIM) Operational update for 3 month period ending 30 September 2016, the first quarter of the 2017 financial year. Ian Harebottle, CEO of Gemfields , commented: “Work on new projects continues apace and plans remain on schedule to meet our annual target production of 40 million carats of rough emeralds from Kagem and 20 million carats of […]

31 Oct 2016

Savannah Resources reports impressive drill results

Savannah Resources Plc (SAV:AIM) Releases drill results for 19 diamond holes located on Blocks 4 & 5 in the Sultanate of Oman; results from Mahab 4 have returned some of the broadest and highest-grade results at the project to date. Savannah is earning 65% interest in Al Thuraya LLC, the owner of Block 4 and is a […]

31 Oct 2016

Wolf reports progress in ramping up to full production at Drakelands

Wolf Minerals reports progress in ramping up to full production at its Drakelands tungsten/tin open-pit mine. In the September quarter, the plant processed a record 505,414t of ore to produce almost 30,000t of concentrate, also a record. The Drakelands mine, which commenced production in September 2015, has struggled to reach planned production rates owing to […]

31 Oct 2016

Centamin Q3 gold production up 41% over Q3 2015.

Centamin Plc (CEY:LSE) (CEE:TSX) Centamin reported Q3 production of 148,674 oz Au, a 6% increase over Q2 2016 and 41% higher than Q3 2015. AISC US$644/oz Au. Ongoing optimisation of the process plant resulted in a recoveries of 89.7% up 0.2% from Q2 2016. Full year production is expected towards the upper end of guidance, 520koz […]

26 Oct 2016

Mariana Resources: Hot Maden drill results are golden.

Mariana Resources Ltd. (MARL:AIM) (MRA:TSXV) Reports assay results for Hot Maden Project; a total of 13 infill and extension, diamond drill holes with drill log data provided for a further 7 holes for which assays are pending.  The drill program is to reduce drill hole spacings to 25m intervals in order to provide detailed geotechnical data for […]

24 Oct 2016

Wolf confirms debt rescheduling and bridging loan

Wolf Minerals has reached agreement with its major shareholders, its lenders and its concentrate offtake partners on a funding arrangement to ensure its Drakelands tungsten/tin mine can continue to ramp up operations to full, commercial production. The key points of the agreement are: 1.      A standstill of the senior debt conditions until either Devon County […]

24 Oct 2016

Rambler Metals & Mining, results for year ended July 31, 2016

Rambler Metal & Mining (RMM-LN) (RAB-CN) The company achieved their production target of 241,080 dry metric tons milled at the Ming Mine, a 12% increase over fiscal year 2015. Achieved lower C1 costs of US$1.72 /lbs down from US$2.11/lbs in fiscal 2015. The copper grades of 2.12% and gold grades of 1.40 g/t were in […]

24 Oct 2016

Petra Diamonds Q1 production rockets up 30%

Petra Diamonds (PDL-LN): Q1 2017 (1 July – 21 October 2016), production up 30% over Q1 2016 to 1,097,523 carats, due to the positive increase to initial production from undiluted areas, improving run-of-mine (RoM) grades at both Cullinan and Finsch and increased tailings production from Kimberley Ekapa Mining. The company is on track to be cash flow […]

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