Galantas Gold Corp has halved its net losses while it still has to post a commercial revenue from the Cavanacaw mine in Omagh, County Tyrone. FINANCES Net loss for the year ended 2023 totalled approximately CA$8.6 million compared with $16.7m the previous year. The Canadian company recorded an impairment of $3.6m (2022: $10m) along with […]
Exploration & Mining
WCM needs ‘substantial’ additional funds
West Cumbria Mining Ltd said it would need “substantial” additional financing to develop and construct its underground coal mine and Woodhouse colliery in Whitehaven, Cumbria. EXPECTATION WCM’s 2023 annual report states that as at 31 December 2023, the group held cash reserves of £6.8 million which had fallen to £5.6m as at 5 April 2024 […]
CMR appoints Dominic Traynor as chairman
Critical Mineral Resources plc has appointed Dominic Traynor as non-executive chairman. Mr Traynor was appointed a non-executive director of the company two years ago under its previous name of Caerus Mineral Resources. Over the last year he has worked with the management on the evolution of the CMR’s strategy and its transition to an exploration and […]
Kavango exercises Hillside-Leopard South options
Kavango Resources plc has exercised its call option over the Hillside and Leopard South projects in Zimbabwe. The company said it intended to extend the call option on Leopard North to 30 June 2025. Purchase agreements for Hillside and Leopard South are being drawn up with completion scheduled for 15 May 2024. In January, Kavango […]
Alba signs West Pilbara lithium option
Alba Mineral Resources plc has signed a 30-day option to buy an initial 50% of the Andover West lithium project in the West Pilbara, Western Australia. SIGNIFICANT The project comprises exploration licence E47-3373 (AW1), of 10 blocks over 10.9 square miles, due to expire on 4 November 2024 with the right for the licence holder to […]
Power Metal intersects Molopo superconductor
Power Metal Resources plc has intersected the targeted steeply dipping geophysical superconductor at Molopo Farms Complex, southwest Botswana. ANALYSIS The company is targeting a district-scale nickel and platinum group element (PGE) discovery at the project. Diamond drilling on DDH1-14C began in February and has now completed to a final depth of 832.6 metres at the high priority […]