Thor today announces preliminary results from test work at its Alford East In situ Recovery (ISR) copper project in South Australia (Thor earning an 80% direct interest). This essential work has been funded by a South Australian Government Accelerated Discovery Grant of A$0.3m and is another example of how Thor makes its money work hard for shareholders.
Companies: Thor Mining PLC
Thor has begun its 3,000m RC drilling program at Ragged Range in the Pilbara in Western Australia. The program has been designed to determine the source of the obvious gold in soils and in streams found during geological mapping and sampling close to the thrusted contact of the Dalton Suite ultramafic rocks and the Euro Basalt. The 10-12 drilling lines at the Sterling Central and Sterling South prospects have been designed to cover the anomalies found with drill holes angled -60 degrees toward
Thor has today provided the results of soil sampling results from its Ragged Range project in the Pilbara Western Australia. Gold in soil anomalies (some quite high at up to 348ppb gold and many in excess of background 5ppb) have defined 8 drill targets. Visible gold has even been panned from soils.
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Responsible Housing REIT to join the Main Market (Premium) raising up to £250m. The Company's investment objective is to generate a consistent and sustainable income-based return from the provision of Supported Housing accommodation assets and aligned sectors. The Company is dedicated to the expansion of Supported Housing accommodation and aligned sectors in the UK and will acquire and create quality, fit
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Thor today announces a further round of drilling at its Kaunda project (operated by EnviroCopper in which Thor has a 30% stake). The drilling is being undertaken by MinEx CRC using an innovative Coiled Tube drilling program. MinEx CRC is the world's largest mineral exploration collaboration bringing together the Mining Industry, including drilling companies, Government and Research Organisations. Coiled Tube drilling is a rapid, safe, energy and water-efficient drilling method at a fraction of
Thor today announces it has completed its drilling campaign at its Alford East copper-gold ISR project in South Australia (Thor earning 80%). Historic drilling has allowed a large resource of 126Mt grading 0.14% copper to be outlined with recent drilling to checking this resource and drill in open zones to extend mineralisation and to test the areas of structure thought to control mineralisation. Drill results and assay results have been impressive and in our opinion could lead to an upgrade in
Early indications from drilling support Thor's ideas on the extent of mineralisation and location of the top of the weathered zone at Alford East. We expect the current in-house XRF copper analyses to be confirmed from laboratory assays (there are delays in labs in Australia due to the increased extent of mineral exploration activities) and that Thor will be able to identify extensions of the mineralisation – potentially to increase the scale of the resource. Thor has interests in several area
Thor today provides an update on its exploration in Ragged Range in WA:
• Gold in soils anomalies (peak at 114ppb gold) tie in closely with the stream sediment gold anomalies which defines trends associated with a structural contact between two rock units – drilling will begin at the ‘Sterling' prospect shortly, after Thor was awarded A$160k as part of the Western Australian Government Co-funded grants program.
• Further sampling along the identified trend will determine additional prospects
Thor Mining today announces that it is beginning its drilling at Alford East (Thor earning an 80% interest). The 2,000m diamond drill program will focus on the northern portion of the Alford East copper gold deposit around the Netherleigh Park and AE5 mineralised domains. These will test the depth extent (previous drilling often stopped in mineralisation) and any strike extension of the known resource. Thor will also take time to understand the ground water characteristics (pH and chemistry)
Thor announced yesterday that it had received a grant from the South Australian Government for A$300k for further investigation into Proof-of-Concept work for In Situ Recovery (ISR), including resource drilling, hydrometallurgical and environmental studies at Alford East project (Thor earning an 80% interest) in South Australia as part of the Accelerated Discovery Initiative programme.
Thor Mining (Thor) provides investors with exposure to a wide range of commodities in two safe jurisdictions (the USA and Australia). We see Thor's priority projects as its In-situ Recovery (ISR) projects in South Australia and its shovel-ready Molyhil tungsten project in Northern Territory. Short term, we expect news from exploration and drilling at its Ragged Range gold project in Western Australia and drilling in its uranium projects in Colorado – either of which could be transformational f
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Companies: Sylvania Platinum Ltd.
We are initiating coverage of VAST Resources (VAST), which has wholly-owned Baita Plai and Manaila polymetallic mines plus an interest in two exploration projects, all located in Romania. At this stage, Baita Plai is the main driver for our valuation as it is currently being ramped up to 14kt per month. As such, we expect Baita Plai’s Cu eq output to reach c 2.4ktpa in FY23F followed by 3.3ktpa in FY24F. This, coupled with Manaila’s potential re-start of an additional 3ktpa of Cu eq over the sho
Companies: Vast Resources plc
Phoenix copper today provides an update on its ground geophysical survey over the Red Star prospect near its Empire copper project in Idaho. The Red Star skarn mineralisation (lead and silver ± copper, zinc) is associated with magnetite; the survey just undertaken was to better understand the distribution and orientation of magnetite to find potential mineralisation and to inform the location and direction of a further drilling programme.
Companies: Phoenix Copper Ltd. (United Kingdom)
We see the UK Government’s Net Zero Strategy as being overall helpful but not especially definitive. Amongst our coverage group, Drax Group (DRX LN) and Velocys (VLS LN) benefit from the Humberside CCS cluster prioritisation and Velocys from SAF support. The amount of renewables is likely to boost the need for flexibility solutions where Drax, Gore Street (GSF LN) and SIMEC Atlantis (SAE LN) can benefit. Hydrogen companies ITM (ITM LN) and Powerhouse Energy (PHE LN) are likely to find support. T
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
Today’s IPO of Tungsten West (TUN-LON) unlocks a valuable, long term revenue stream for Hargreaves. This comprises a £1m per annum fee (first payment next month) as well as a mining services contract once the mine recommences production. The resulting EPS upgrades are 6% and 7% in FY22 and FY23 respectively, followed by 9% in FY24 with the first partial contribution from the mining services contract. This continues Hargreaves’ impressive recent run of forecast upgrades and reinforces our convict
Companies: Hargreaves Services plc
Companies: Shanta Gold Limited
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Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov.
Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
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Shanta Gold (AIM: SHG) has, this morning, announced its production and operational results for the quarter ended 30th September 2021 – see Fig 1. Operationally this was a slightly weaker than expected quarter but very promising from the corporate side with a new five-year plan announced, an 0.10cps interim dividend announced and a resource update at the West Kenya Project (WKP).
QoQ production was flat at 14,194 oz and AISC rose to $1,480/oz caused by a temporary drop in grade as well as hig
Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as US crude supplies shrink.
Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest US storage hub are draining to levels last seen when crude pr
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Anglo Asian Mining* (AAZ LN) - BUY – 180p – 4.5c special dividend
BeMetals (BMET CN) –– Drilling commences at South Mountain, Idaho
Condor Gold* (CNR LN) – BUY, valuation 102.5p – Progress of the La India feasibility study
Hochschild (HOC LN) - Hochschild to spin off rare earth assets
Rambler Metals and Mining* (RMM LN) – BUY, fair value 10.7p - Ming mine underground drilling programme demonstrates grade and width improvements at depth
SolGold* (SOLG LN) – Tandayama-America initial resour
Companies: BMET AAZ CNR HOC RMM SOLG
Trifast has released a good interim trading update ahead of its interim results due on 23 November. Overall trading has been in line with management expectations at “both revenue and profit levels” since the AGM update in July although this belies the strength of the Group's top line performance in our view. We remain buyers.
Companies: Trifast plc
Rio’s investors day was focused on two of the most critical mining industry thematics in today’s times, i.e. green and growth. The announced measures couldn’t have materialised at a better time, given the (recent) woes pertaining to governance and the iron ore market sell-off. Remember, considering Rio’s enviable balance sheet strength, it has the flexibility to pursue the targeted plans with rigorously and, at the same time, maintain ‘relative’ shareholder reward attractiveness. Hence, we reite
Companies: Rio Tinto plc
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ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas company which has incubated and financially supported ATOME to date, by way of a dividend in specie and flotation.
Devolver Digital to join AIM, an award-winning digital video games pu
Companies: SAE HMI MNO MSMN NSCI OMG PCA
Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m.
Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
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i3 Energy indicated that Q3 2021 production amounted to 13,740 boe/d (WHIe: 13,742 boe/d) and that production in September amounted to 18,985 boe/d (WHIe: 18,834 boe/d). The company indicated that it now forecasts net operating income (“NOI” = revenue minus royalties, opex, transportation and processing) to be $US 65.7m for 2021 and $US 119.1m for the next twelve months starting 1 October 2021 – in line with our assessment that i3 Energy is on the cusp of generating more than $US 100m of cash fl
Companies: i3 Energy Plc