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Kore’s share price falls amid ongoing discussions on EPC
Published: 24 Jun 24
Johannesburg- and London-listed Kore Potash’s share price on the JSE and the LSE fell by more than 20% on June 24, after the company reported ongoing discussions with regard to the engineering, procurement and construction (EPC) proposal and draft EPC contract with PowerChina International Group. The potash development company revealed that further important issues had been raised about completion and performance guarantee tests, which now needed to be further discussed and agreed on with PowerChina.
optimum coal mine Liberty extends deadline for retrenched Optimum workers to apply for reemployment
Published: 24 Jun 24
Coal mining company Liberty Coal has confirmed that it will be extending the deadline for former Optimum Coal Mine (OCM) employees to submit their applications for reemployment. The company said on June 24 that this was part of its prioritisation of the reemployment of former employees who were retrenched by OCM, which remains in business rescue.
Galileo to undertake Phase 3 drill programme at Zambian project
Published: 24 Jun 24
Aim-listed Galileo Resources has decided to undertake a Phase 3 drill programme to validate its current view that near-surface copper/gold mineralisation occurs along the Shinganda fault splay over a strike length of potentially more than 4 km, offering scope for the development of a preliminary mineral resource at the Shinganda copper/gold project, in Zambia. The Phase 1 and 2 drill programmes have confirmed the presence of copper/gold mineralisation associated with major regional and more localised structures.
An image of Orion CEO and MD Errol Smart Drilling programme at Orion’s Okiep project confirms high-grade potential
Published: 24 Jun 24
JSE- and ASX-listed Orion Minerals has reported further “outstanding” assay results from the confirmation diamond drilling programme in the Flat Mines area at its Okiep copper project (OCP), in the Northern Cape, South Africa. The latest results add further momentum to Orion’s development strategy for the OCP, building on the initial results reported on April 22 and confirming the geology and endowment of the Flat Mines area, the company notes in a statement.
Calibre's El Limon complex in Nicaragua B2Gold sells C$139m Calibre shares
Published: 24 Jun 24
Vancouver-headquartered B2Gold has announced the sale of 79-million shares of Calibre Mining for gross proceeds of C$139.04-million. Immediately prior to the transaction, announced on Friday, B2Gold owned 110 950 333 common shares of Calibre, representing about 14.1% of the company’s stock. B2Gold’s ownership has decreased to less than 10% of the issued and outstanding common shares.
The Douay gold project Maple gains full ownership of Quebec projects from Agnico
Published: 24 Jun 24
TSX-V-listed Maple Gold has consolidated ownership of the multi-million ounce Douay gold project and past-producing Joutel gold project, in Quebec. This follows the restructuring agreement between Maple and joint venture (JV) partner Agnico Eagle, terminating the 2021 agreement between the companies.
An image of Godfrey Gomwe MC Mining names interim MD, CEO
Published: 24 Jun 24
Coal miner MC Mining has appointed nonexecutive director Christine He interim MD and CEO, with effect from July 1. This follows the earlier announcement that Godfrey Gomwe has resigned as MD and CEO of JSE-, Aim- and ASX-listed MC Mining, with effect from June 30.
Copper smelting Funds to retrench, magnifying copper's losses
Published: 24 Jun 24
Sluggish demand in top consumer China and soaring inventories mean funds are likely to retreat further from the copper market, analysts say, adding more pressure to prices which have dropped around 12% since hitting record highs last month. However, funds will return as shortages of the metal created by significant demand growth from the electric vehicle sector and new applications such as data centres start to appear.
Power Nickel secures C$20m investment from leading investors
Published: 24 Jun 24
Exploration junior Power Nickel has closed an over-subscribed flow-through offering, raising C$20-million at C$1.25 a unit. Each unit includes one flow-through common share and one-half of one share purchase warrant. The financing round received strong backing from industry heavyweights Robert Friedland, Rob McEwen, CVMR and Terra Capital. These investors have shown confidence in Power Nickel’s potential, particularly its Nisk project, in Quebec, said CEO Terry Lynch.
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