First Class Metals plc (FCM) reported high grade results from its Pickle Lake nickel project in Ontario, Canada. PROSPECTIVITY Partner Palladium One has the option to earn-in to an 80% undivided working interest in the project, subject to a three-year work programme commitment. The project, comprising 33 single cell mining claims, is on the eastern […]
Tag: metals and minerals
Power Metal acquires Badger Lake uranium project
Power Metal Resources plc has expanded its uranium portfolio with a new property and increased the footprint of an existing one in the Athabasca Basin area, Saskatchewan, Canada. EXPLORATION Badger Lake covers 16.71km2 and takes the company’s uranium holding in the region to 12 properties, including the conditional sale of Reitenbach, with a combined area of 829.58km2. […]
Horizonte raises £70.5m to meet rising costs at Araguaia
Horizonte Minerals plc has raised £70.5 million in an oversubscribed placing at 90.5 pence per share to meet rising costs for its Araguaia nickel development in Brazil. PLACING The placing, which is one part of a fundraise that also includes a subscription, exceeded the company’s original gross target of £61.7m. Horizonte said that 77,945,627 new ordinary shares […]
FCM looks to acquire Sunbeam gold project
First Class Metals plc (FCM) plans to acquire the three claims covering 48km2 of developed gold mines in the Sunbeam project in northwest Ontario, Canada. SUNBEAM The potential purchase from Canadian vendor Nuinsco Resources Ltd lies in Ramsay-Wright township in the Superior Province of the Canadian Shield. The property comprises the Sunbeam mine, which operated […]
Oriole granted two-year extension for Bibemi
Oriole Resources plc has been granted a two-year licence extension for its 90%-owned Bibemi orogenic gold project in Cameroon. PROSPECTS The company said that under Cameroonian law, no mandatory ground relinquishment was required on renewal and the Oriole has maintained the full 177km2 licence area. The extension, which is non-renewable, is valid until 26 September 2024 after […]
Ormonde completes €2.3m La Zarza assets sale
Ormonde Mining plc has completed the €2.3 million sale of its land, data and drillcore assets at La Zarza copper-gold-zinc project in Spain. The company has now received an initial €800,000 from the purchaser La Zarza Mineria Metalica S.L.U., a subsidiary of Tharsis Mining S.L. The balance will be paid in three equal payments of […]