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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.

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 […]

21 Oct 2016

Jubilee Platinum Q3 2016 revenue for chromite production up 94.73% over Q2

Jubilee Platinum (JLP-LN) Q3 2016 chromite concentrate production from the Dilokong Chrome mine (DCM) tailings project was 28,559 tons an increase of 88.04% from Q2, 2016. The revenue generated from chromite concentrate sales increased 108.22% to £2.09m over Q2, 2016. Chromite project earnings were up 108.13% to £1.55m over Q2. Earnings attributable to Jubilee, for […]

21 Oct 2016

Production ramp-up for Firestone Diamonds

Firestone Diamonds (FDI-LN), The company recovers its first diamonds from the Liqhobong Diamond mine in Lesotho, owned 75% by Firestone and 25% by the Government of Lesotho. Initial recoveries are as expected and confirm presence of fancy yellow diamonds. Commissioning is 96% complete. Waste stripping is on target and ramp-up to commercial production has commenced. […]

18 Oct 2016

Kefi Minerals expects production at Tulu Kapi in mid-2018

Kefi Minerals has received a Front End Engineering and Design proposal for US$68 million from Lycopodium for the EPC contract to build a mine at its 95%-owned Tulu Kapi gold project, in Ethiopia. Including contingencies and provisions for non-Tulu Kapi costs, the total capital estimate for the project has been increased to approximately US$150-160m. The […]

17 Oct 2016

Wolf Minerals close to completing funding solution

Wolf Minerals expects to complete discussions with its lenders and major shareholder, RCF, on funding arrangements to support the ramp up towards commercial production and design performance at the Drakelands open pit tungsten/tin mine by 21 October 2016. Once the agreements are complete, the company will release its annual report to 30 June 2016. In […]

12 Oct 2016

Ariana Resources, Phase One drilling shows significant mineralisation

Phase One drilling results from the Arzu Central target area at Kiziltepe, reveals continuity of mineralisation for at least a further 200m beyond the northern end of the current Arzu South pit and vein system appears to be increasing in width; says Dr. Kerim Sener. The initial round of drilling indicates significant mineralisation occurs within […]

11 Oct 2016

Atalaya Mining – Q3 copper production up 97% over Q2.

Atalaya Mining PLC (ATYM:AIM; AYM:TSX) Focused on ramping up production to 9.5Mtpa, to achieve nameplate capacity by the end of 2016. Completed a US$14M copper concetrate prepayment agreement with Transamine Trading S.A. The company is working on additional, alternative funding solutions to improve working capital for final phase of ramp-up; capex for H1 was €17.1M. Q3 2016 […]

10 Oct 2016

Tharisa Minerals – Record Q4 production, 2017 looking even better.

Tharisa Minerals (THS.L) Modifications to Voyager’s Plant chrome processing circuit in H1 FY2016 to facilitate increased production of higher value speciality grade chrome concentrates, enables Tharisa to distribute to more globally diversified markets. The average PGM basket price for quarter ended September was US$804 oz, which was US$59 an ounce higher than previous quarter. Metallurgical grade […]

27 Sep 2016

Gemfields’ annual profits almost double as emerald sales values soar

Gemfields, the AIM-listed emerald, ruby and sapphire producer, has reported profits for the financial year ended 30 June 2016 up 91%, to US$23.5m, from the previous year. EPS doubled to US$0.02. Revenue increased by 13%, to US$193.1m. The biggest increase came from emerald sales, rising from US$64.9m in FY2015, to US$101.2m in FY2016 with record […]

20 Sep 2016

Zinc is zooming

Zinc is zooming – it is up 55% since hitting a 6 year low mid-January. Prices have risen around 3% on the LME since Monday. The closing of 4 major zinc mines since 2013 has reduced supply by over 1 million tons. Glencore cut H1 2016 production by 31% to help shore up prices. Beijing […]

02 Sep 2016

Dalradian work suggests higher grade than resource estimate

  Dalradian Resources has tested part of its resource base at its 100%-owned Curraghinalt gold project, in Northern Ireland and estimates that the grade could be significantly higher than that in the May 2016 resource statement. The resource estimation released in the May 2016 and conducted by independent consultants SRK, used standard geostatistical estimation methods, […]

30 Aug 2016

Anglo American sells Foxleigh metcoal mine

Anglo American plc has completed the sale of its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia to a consortium led by Taurus Fund Management. The parties have not disclosed the terms of the sale. Foxleigh is an open cut coal operation which produces high quality pulverised coal injection (PCI) coal, located […]

24 Aug 2016

Glencore’s bottom line hit by lower commodity prices but net debt down

Glencore has posted its results for the six months ended 30 June 2016 with adjusted EBITDA of US$4.0b, 13% lower than H1 2015, and adjusted EBIT down 38% to US$875b as the group’s commodity production was impacted by lower prices. The company delivered on lowering its costs and reports that 66% of the negative price […]

10 Aug 2016

Centamin posts EPS up 78%: increases interim dividend

Egyptian gold miner, Centamin plc, has increased its interim dividend from USc0.97 per share in 2015 to USc2.00 per share after posting Q2 16 earnings of USc6.3 per share, a 78% increase on Q2 15. The improved income performance was a result of both higher revenue and lower costs. Revenue for the quarter increased by […]

28 Jul 2016

Anglo American’s underlying earnings fall in H1 2016

Anglo American’s underlying earnings for the first half of 2016 fell by 23%, to US$698 million from the corresponding period of 2015. Underlying earnings per share was US$0.54 against US$0.70 a year earlier. The company reported an actual loss for the period of US$682 million, an improvement from the US$2.7 billion loss a year earlier. […]

20 Jul 2016

Anglo’s production generally lower y-o-y in H1

Anglo American’s production results for the first half of the year were generally lower than the corresponding period of 2015, although nickel was an exception. Copper production from retained operations was 290.7 kt, down 4% year-on-year as expected lower grades and significant snowfall impacted operations at Los Bronces, where production was down 16% as the […]

30 Jun 2016

Wolf continues to optimise plant operation as prices improve

Wolf Minerals reports that tungsten prices improved in Q2 16 with the ammonium paratungstate (APT) price reaching US$225/mtu in May, up from an average of US$172/mtu for the March quarter. APT is the main traded intermediary tungsten product on which tungsten concentrate prices are based. The company notes, however, that the price remains some US$160/mtu […]

15 Jun 2016

MMG to invest in US$30 million Aureus Mining and gain majority interest

MNG Gold, a privately-owned Turkish gold exploration and development company focused on West Africa and Turkey, is to invest US$30 million in Aureus Mining to achieve a 55% interest in the company. The agreed price of 3.21p per share represents a premium of 22% to the closing price on AIM on 14 June. The funds […]

10 Jun 2016

Polo increases interest in Blackham Resources

Polo Resources Limited has announced that its subsidiary Polo Investments Limited has given notice of its intention to exercise its right to purchase a further 49 per cent of Perfectus Management Ltd for A$3.0 million to be satisfied by the issue of 9,832,358 new ordinary shares in Polo  at the price agreed in 2014 of 15p per […]

02 Jun 2016

Kefi reduces estimated capital to build its Ethiopian gold mine: KEFI

Kefi Minerals has reduced the estimated funding required to build a mine at its 100%-owned Tulu Kapi gold project, in Ethiopia, from US$145.0 million in the 2015 definitive feasibility study to US$131.7 million, principally through a change in the life-of-mine plan. With an open pit processing ore by conventional CIL at a revised rate of […]

25 May 2016

Anglo Pacific Q1 royalty income £1.9 million; full year expected to exceed last year’s £8.7 million

Anglo Pacific Group PLC reported royalty income of £1.9 million in Q1 2016, down from £2.3 million in the previous year. However, the company expects the majority of its royalty income, similar to 2015, will be received in H2 2016. According to CEO, Julian Treger, “We continue to expect royalty income for 2016 as a […]

23 May 2016

Gemfields realises record prices for rough emeralds

Gemfields plc achieved a record US$5.15 per carat for lower quality rough emeralds at its latest auction held in Jaipur, India, last week. The company sold 14 lots (out of 18 offered) comprising 2.78 million carats, representing 76% of gemstones offered. The auction raised revenue of US$14.3 million. The gemstones were mined by the company’s […]

28 Apr 2016

Wolf continues plant optimisation and secures additional funding amid weak prices

Wolf Minerals treated 310,949 t of ore during the March quarter at its Drakelands open-pit mine and produced 17,607 metric tonne units (mtu) of tungsten concentrate. Revenue from sales of concentrates was A$3.8 million (£1.9 million). The total cash expenditure for the quarter was A$16.8 million (£8.2 million), including A$3.9 million (£1.9 million) on development, […]

22 Apr 2016

Wolf shareholders approve £25 million equity facility

Wolf Minerals shareholders have approved the establishment of a standby equity facility of up to £25 million with Resource Capital Fund (RCF). The company announced the agreement with its major shareholder, which holds an interest of almost 42%, in January this year. The facility will enable Wolf to strengthen its balance sheet during the ramp-up […]

31 Mar 2016

Gold bullion is rising and shares in gold miners have powered ahead too. Are mining stocks the shining investment of 2016?

http://www.cityam.com/237716/gold-bullion-is-rising-and-shares-in-gold-miners-have-powered-ahead-too-are-mining-stocks-the-shining-investment-of-2016 Gold bullion is rising and shares in gold miners have powered ahead too. Are mining stocks the shining investment of 2016? Gold bullion has been among the best-performing investments so far this year, as prices rose 18 per cent from the start of January up to mid-March. Since gold’s low of $1,050 an ounce in […]

24 Mar 2016

Dalradian completes infill drilling at Curraghinalt; updated resource by end-April

Dalradian Resources has completed Infill drilling at its 100%-owned Curraghinalt gold project, in Northern Ireland and expects to release an updated resource estimate by the end of April. The infill drilling programme comprised 51,479 m in 181 holes and was planned to convert Inferred resources to Measured and Indicated in support of a feasibility study, […]

16 Mar 2016

Progress for Wolf at Drakelands

Wolf Minerals has reported its first financial results since commissioning the Drakelands tungsten/tin mine in September 2015. The company recorded a loss for the six months to 31 December 2015 of A$24.2 million (approximately £12.8 million), equivalent to 1.6 pence per share. The mining operation and processing plant are still ramping up to full production, […]

08 Mar 2016

Aureus Gold’s New Liberty mine attains commercial production

Aureus Mining has declared commercial production at its New Liberty gold mine, in Liberia, seven months after official opening of the mine in August 2015. Gold production in February was over 9,000 oz as the plant finally operated at 88% of design throughput capacity and recovery levels exceeded 90% The company continues to work towards […]

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