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Adriatic to raise $50m Adriatic to raise $50m
Published: 28 May 24
Silver developer Adriatic Metals has announced a $50-million institutional placement to optimise its balance sheet while ramping up the Vares operation in Bosnia and Herzegovina. The company, which is listed on the ASX, LSE and OTCQX, will issue about 18.3-million CHESS depositary interests (CDIs) over new fully paid shares in the company. The offer price of A$4.15 per CDI represents a discount to the five-day volume weighted average price on the ASX on May 24.
Sierra Nevada reviews assets, focus shifts to Blackhawk
Published: 28 May 24
Australia-listed Sierra Nevada Gold has announced a strategic review of its assets, exploring options such as joint ventures, strategic partnerships or project sales. The company has five 100%-controlled projects in Nevada, comprising four gold and silver projects and a large copper/gold porphyry project.
China President Xi Jinping Post-Covid, China is back in Africa and doubling down on minerals
Published: 28 May 24
China's flagship economic cooperation program is bouncing back after a lull during the global pandemic, with Africa a primary focus, according to a Reuters analysis of lending, investment and trade data. Chinese leaders have been citing the billions of dollars committed to new construction projects and record two-way trade as evidence of their commitment to assist with the continent's modernisation and foster "win-win" cooperation.
AngloGold expands position in NSW gold/copper province
Published: 28 May 24
Gold major AngloGold Ashanti is expanding its interests in the Macquarie Arc, New South Wales, with another earn-in and joint venture (JV) agreement. The Macquarie Arc is considered a premier porphyry gold/copper province and hosts several major mines, including the country’s biggest gold mine Cadia.
Lucapa chairperson Stuart Brown is a former De Beers CFO and interim CEO. Angola is world’s foremost diamond exploration target, says Lucapa’s Brown
Published: 28 May 24
Australia-based diamond miner Lucapa’s newly appointed chairperson, Stuart Brown,has hailed Angola as foremost diamond exploration target on the world stage. In an address to shareholders on Tuesday, he positioned Angola at the forefront of Lucapa’s strategic direction, stating that the country’s diamond-rich provinces remained unexplored for primary source kimberlites.
BlueScope waives Illawarra pre-emptive rights BlueScope waives Illawarra pre-emptive rights
Published: 28 May 24
The sale of the Illawarra metallurgical business to an entity owned by Singapore’s Golden Energy and Resources and coal trader M Resources remains on track to be completed in the first half of the 2025 financial year. Diversified miner South32 reported on Tuesday Australian steelmaker BlueScope had waived its pre-emptive right to the assets.
Electric Metals confirms Minnesota’s Emily as premier high-grade manganese resource Electric Metals confirms Minnesota’s Emily as premier high-grade manganese resource
Published: 27 May 24
US-based developer Electric Metals has unveiled an upgraded mineral resource estimate for its Emily manganese project, solidifying the Minnesota project as the continent’s “highest-grade manganese resource”. At a 10% cutoff grade, Emily’s indicated resources increased by 20.9% to 6.2-million tons, with a grade of 19.27% manganese. Inferred resources surged by 596.5% to 4.9-million tons, with a grade of 17.5%.
Barrick's Porgera mine in PNG operating without restriction after landslide Barrick's Porgera mine in PNG operating without restriction after landslide
Published: 27 May 24
The Porgera Mine in Papua New Guinea is running without restriction and has enough fuel on site for 40 days, operator Barrick Gold said on Monday, after a massive landslide struck in the province the mine is located. The landslide in Enga province buried more than 2 000 people, the government said earlier on Monday, as treacherous terrain impeded aid and lowered hopes of finding survivors.
Giyani looking to appoint directors with EV battery, financing expertise Giyani looking to appoint directors with EV battery, financing expertise
Published: 27 May 24
TSX-V-listed, Botswana-focused Giyani Metals is streamlining its board of directors as it transitions into a manganese battery metals producer. Jonathan Henry, Michael Jones, John Petersen and Nicola Spooner have resigned from the board with effect from May 24.
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