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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.

03 Dec 2018

Rollover El Oro

Along with the notice of its AGM, El Oro has published details of a new proposed rollover into JPMorgan Elect that the board is exploring as an alternative to a liquidation of the Company. The board says that their proposal offers a real choice to shareholders of either cashing out or rolling over into a […]

30 Oct 2017

Wolf secures additional financing to complete turnaround plan

Wolf Minerals (AIM: WLFE, ASX:WLF) has secured an additional £10m in funding from major shareholder Resource Capital Fund VI to help it complete the operating turnaround plan at its Drakelands tungsten/tin mine. This increases the existing bridge facility from £45m to £55m. The key elements of the turnaround plan are modifications to the dense media […]

24 Sep 2017

CAML expands base metal production through bold acquisition

Central Asia Metals (CAML) is extending the range and size of its base metal production through the proposed US$402.5m acquisition of Lynx Resources, owner of the Sasa zinc/lead mine, in Macedonia. CAML is funding the acquisition through a combination of debt (US$187m) and equity (US$195.5m). Sasa is owned by Lynx Resources, a company set up […]

31 Aug 2017

Good news for Wolf Minerals on two fronts

Wolf Minerals (AIM: WLFE) has secured an additional £5 million in funding from major shareholder Resource Capital Fund VI to help it complete the operating turnaround plan at its Drakelands tungsten/tin mine. The key elements of the turnaround plan are modifications to the dense media circuit (Phase 1 completed and Phase 2 planned for 9 […]

17 Aug 2017

Wolf acts on noise problem at Drakelands

Wolf Minerals intends to recover the cost of rectifying a low frequency noise (LFN) problem caused by the vibrating screens in its Drakelands tungsten/tin processing plant from its lead construction contractor, GR Engineering Services Limited (GRES). It will take advantage of a £7.5 million Performance Bond provision included in the construction contract for the Drakelands […]

15 Aug 2017

Weaker H1 for Caledonia as mine focuses on essential reconfiguration to facilitate longer-term growth

Caledonia Mining has reported comprehensive H1 2017 earnings of US$4.2m against US$5.4m for the same period of 2016. EPS was US27.6c against US38.3c a year earlier, a decrease of 28%. Adjusted EPS was US45.7c against US43.0c in H1 2016. Net profit attributable to Caledonia’s shareholders decreased from US$4.2m in H1 2016 to US$3.0m in H1 […]

28 Jul 2017

Wolf increases tungsten production with adoption of turnaround plan

Wolf Minerals has seen significant improvements to its tungsten/tin processing operations at the Drakelands mine during the first trial period of an operating turnaround plan during the month of June 2017. Average daily ore throughput in the final week of June reached almost 10kt, a 43% increase on the previous week. Wolf developed the plan […]

29 Jun 2017

Wolf Minerals secures additional working capital from major shareholder

Wolf Minerals has secured additional funding from its major shareholder to support its short term working capital as it works towards identifying additional funding sources for long term self-sustainable operations at the Drakelands open pit mine. Resource Capital Fund (RCF), which owns 56% of the company, has increased its existing bridge facility from £30m to […]

01 May 2017

Kounrad starts producing copper from new dump

Central Asia Metal’s Kounrad copper operation, in Kazakhstan, is now recovering the metal from the Western dumps on the property. In April, the company applied the first acid through an extensive drip irrigation system to an initial leach area on its dump 22 and when QuotedData visited the site last week we observed pregnant leach […]

28 Apr 2017

Wolf reports improved operations at Drakelands

Wolf Minerals reports that during the March quarter it implemented significant equipment changes and modifications in the processing plant at its Drakelands tungsten/tin mine, in Devon. These modifications have resulted in improvements in ore throughput rates in the plant and in the grade of tungsten concentrate being produced. In addition, open pit mining operations are […]

16 Mar 2017

Wolf reports increased net loss for six months to end December 2016

Wolf Minerals has reported a net loss after tax for the six months to 31 December of A$37.7m, an increase from the A$24.3m loss reported in the corresponding period of 2015. The total loss (including items affected by exchange rate movements) amounted to A$50.6m (2015: loss of A$31.5m). After revenue from sales of tungsten and […]

13 Mar 2017

Wolf Minerals draws an additional £10 million from RCF facility

Wolf Minerals is to draw down an additional £10m from the 12-month secured bridge loan facility that major shareholder, Resource Capital Fund (RCF), provided in October 2016. This will take the amount received from RCF to £30m. The loans carry interest at rates between 10% and 15% per annum and may be repaid with cash […]

22 Feb 2017

Ariana Resources potential for significant resource growth at Tavsan

Ariana Resources (AAU:AIM) Completed a resource-focused target generation for the  Tavsan Project which is part of the Red Rabbit 50% joint venture with Proccea Construction Co. Sixteen target areas were identified, including the following important drill intercepts: 11m@5.11 g/t Au + 6.83 g/t Ag, 6m@3.37g/t Au + 3.67 g/t Ag and 9m@1.30 g/t Au + 4.32g/t Ag, […]

21 Feb 2017

Vast Resources stock rose 9% on production update

Vast Resources (VAST:AIM) Quarterly production and operations update for the three months ended 31 December 2016, for their mines in Romania and Zimbabwe. Their 50.1% owned Manaila Polymetallic mine in Romania saw a 44% increase in copper concentrate production over the previous quarter, producing 889 tonnes at an average 19.5% copper. Zinc concentrate production increased […]

17 Feb 2017

Landore Resources maiden resource of 301k oz Au

Landore Resources (LND.L:AIM) Announced a Maiden Mineral Resource Estimate for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada. The resource estimate was 301,000 oz consisting of an indicated resource of 193k oz at 1.35 g/t Au and an inferred resource of 108k oz at 1.23 g/t Au. The estimated cost to […]

14 Feb 2017

Mariana Resources, positive initial drilling results for Ergama project

Mariana Resources (MARL:AIM) (MARL:TSX.V) Reported initial drilling results from their 100% owned Ergama project in western Turkey, located 90km SE of Teck’s Pilot Gold Halilaga Au-Cu project and 230km west north west of Eldorado Gold’s Kisladag gold mine which produced 211k oz of gold in 2016. The Ergama project license covers an area of 2,168 Ha (21.6 km2). Drill […]

06 Feb 2017

Gemfields, Fabergé sales orders increase 95% versus same quarter 2015.

Gemfields (GEM:AIM) Announces second quarter operational update for the period ending 31 December 2016. Production at the 75% owned Kagem Mine was 4.7 million carats of emerald and beryl with an average grade of 156 carats per ton, versus the quarter ending 31 December  2015 of 8.2m carats with an average grade of 272 cpt. […]

31 Jan 2017

Tungsten production fall offsets significant positive developments in Wolf’s December quarter

Wolf Minerals reported revenues from sale of tungsten concentrates at its Drakelands open-pit mine, in Devon, of A$5.4m for the quarter ended 31 December 2016. After considering spending of A$4.2m on development, A$20.7m on production and A$5.0m on finance costs, net cash used in operating activities for the quarter was A$24.6m. At the end of […]

30 Jan 2017

Jubilee Platinum commissioning of Chromite and PGM recovery plants on schedule

Jubilee Platinum (JLP:AIM) First delivery of chromite concentrate product targeted within the next 2 weeks, after integrating the Recovery Plant into Hernic’s current operations. The tailings from the Chromite Recovery Plant forms the feed to the PGM Recovery Plant. The integration of the two circuits will commence during February 2017.  The PGM benefaction plant is expected to […]

30 Jan 2017

Sylvania Platinum quarterly production hits a record

Sylvania Platinum (SLP:AIM) Results from its PGM, Sylvania Dump Operations (“SDO”) in the Bushveld region of South Africa, for the quarter ended 31 December 2016 (Q2). The company produced a record 18,562 oz for the quarter, an 8% increase on the previous quarter of 17,257 oz. H1 production was 35,819 oz. The outlook for the […]

26 Jan 2017

Firestone Diamonds recovers 20 stones over 10.8 carats while ramping up to nameplate capacity

Firestone Diamonds (FDI:AIM) The Liqhobong Diamond Mine, 75% owned by Firestone and 25% by the Government of Lesotho, is ramping up to nameplate capacity after completing construction in early Q4, 2016. First diamond recoveries occurred in late October 2016. By the end of the quarter ended 31 December 2016, over 20 special stones larger than […]

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 […]

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