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TRADING UPDATES: URA orders Gravelotte parts; Kefi sustains progress

Wed, 06th Sep 2023 15:40

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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URA Holdings PLC - Africa-focused mineral exploration company - Says significant progress has been made at Gravelotte, its 74%-owned emerald mine in South Africa. Orders have been placed for a custom-made optical sorter following the completion of test work at Angelon Electronics Co Ltd in China. Notes that the costs for an optical sorter from Angelon are significantly cheaper than the costs of one from Germany. A primary crusher and primary sizing screen with associated conveyors and dewatering pumps, are all in the process of being sourced, acquired and installed into the current circuit. Says trial mining and processing activities could potentially re-start as soon as six to eight months from September, subject to schedule.

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Alien Metals Ltd - Australia-focused minerals exploration and development company - Says that exploration review of Pinderi Hills in Australia confirms potential for nickel and copper. Near surface results at the site include 5.2 metres at 2.1% nickel, 166 ounces of silver per tonne. Alien Metals plans to undertake focused exploration activities on additional base metal targets, and has commissioned detailed aerial reconnaissance over the Pinderi Hills area. Chief Executive Officer Troy Whittaker says: "Whilst our priority remains the development of the Hancock iron ore project, it is pleasing to see the detailed work by the geology team to continue focusing on valuable nickel, copper and other base metals targets that have been overlooked by previous explorers. The Elizabeth Hill silver mine is part of the greater opportunity the company must make in identifying significant new discoveries in the unique multi-commodity, mineral-rich province of the Pinderi Hills."

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Atlantic Lithium Ltd - Sydney-based, Africa-focused lithium exploration and development firm - Receives further assay results from the resource and exploration drilling programme underway at the Ewoyaa lithium project in Ghana, West Africa. These show high-grade infill drill intersections at the Ewoyaa South-2 deposit, designed to convert inferred to indicated resources. Additional intersections are reported at the Kaampakrom Ewoyaa Main and Ewoyaa North-West deposits, also outside of the current resource. Executive Chair Neil Herbert says: "A total of 18,500m of infill, extensional and exploration RC drilling has been planned for 2023. These programmes are intended to grow and improve the confidence of the Ewoyaa Resource, in turn, improving the economics of the project."

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Bezant Resources PLC - Botswana-focused copper and gold explorer and developer - Notes positive results of Phase Two metallurgical testing carried out by Wardell Armstrong International on a sample from its 100%-owned Kanye manganese exploration project in Botswana. Testing showed that both grind size and leaching temperature had minimal influence on the final manganese recovery. Says the Kanye manganese deposit demonstrates an excellent overall manganese recovery using moderate leaching conditions compared with benchmarked projects. Further metallurgical test work will be considered at a later stage of project advancement.

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Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Completes 13,000 metre drill programme at Jibal Qutman in Saudi Arabia. Trenching and diamond drilling to identify additional resources is ongoing, while metallurgical test work has been completed on oxide ore. Meanwhile, at Hawiah, the ongoing infill and expansion drilling campaign "continues to yield positive results". The programme is designed to upgrade the resource classification to allow for further ore reserves definition.

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Savannah Resources PLC- London-based lithium development company - Lauds progress at its Barroso lithium project in northern Portugal. On the topic of commercial arrangements, says it is in a strong negotiating position and has yet to commit to any offtake arrangements. Adds that, following the endorsement of the project by the Portuguese environmental regulator, the level of strategic partnership interest in the project has "notably" increased. Savannah is currently working to identify a shortlist of potential strategic partners which are willing to assist with the financing of the project's construction. It expects to provide an update on the project's commercial arrangements towards the end of the year.

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Severfield PLC - North Yorkshire, England-based structural steel group - Says that trading in the first five months of the year is in line with expectations, and that its cash and balance sheet position remains strong. Adds that it is pleased with the " continuing high quality of the UK and Europe order book", which was GBP479 million on September 1, down from GBP510 million on June 1. Is continuing to see some large project opportunities in the UK and in continental Europe, supported by the recent acquisition of Voortman Steel Construction. In India, the group's order book has increased to GBP170 million in September from GBP139 million in June. Looking ahead, says that the outlook "remains positive", and that "our businesses are well-positioned".

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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9 Aug 2022 11:42

Bezant Resources shares up on Hope & Gorob project licence application

(Alliance News) - Shares rose in Bezant Resources PLC on Tuesday as the company submitted its mining licence application alongside an exploration licence renewal application for the Hope and Gorob project in Namibia.

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IN BRIEF: Bezant Resources sees "pleasing" results at Gorob prospect

Bezant Resources PLC - copper-gold project developer - Reports that drill assay results for eight diamond drillholes testing near-surface copper mineralisation at the Gorob Prospect in Namibia have returned "significant" intercepts.

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8 Jun 2022 12:39

IN BRIEF: Bezant and Caerus post upbeat drilling results in Cyprus

Bezant Resources PLC - copper and gold project developer focused on Namibia, Cyprus and Zambia - and Caerus Mineral Resources PLC - copper miner in Cyprus - Post drilling update for a project of their joint venture mine near Troulli, Cyprus. Assay results show up to 3.3 grammes of gold per tonne in 1 of 11 holes. Three holes show gold over 1.0 gram per tonne, both firms say. Hole AN22DD006, which shows the most proven gold per tonne, also yields the most copper per tonne at 2.36 grammes per tonne. Seven holes show more than 1.0 grammes of copper per tonne.

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8 Jun 2022 12:26

Bezant rises on results from Anglisides drilling

(Sharecast News) - Bezant Resources updated the market on drill results from the Anglisides Licence on Wednesday - a satellite project of its Troulli copper-gold joint venture with Caerus Mineral Resources in Cyprus.

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3 May 2022 13:45

IN BRIEF: Caerus and Bezant joint venture assays confirm extension

Bezant Resources PLC - copper and gold project developer focused on Namibia, Cyprus and Zambia - And Caerus Mineral Resources PLC - copper mining company focused on Cyprus - Publish drilling results of their joint venture Troulli Mine Development Project in Cyprus. The companies confirm that there is an extension of mineralisation to the northwest of the current deposit. They plan to follow-up drill the extension. The plans are based on a hole of the joint venture returning 1.83% copper equivalent per 21.25 metres.

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27 Apr 2022 16:18

IN BRIEF: Caerus and Bezant Resources note positive potential of JV

Bezant Resources PLC - copper and gold project developer focused on Namibia, Cyprus and Zambia - And Caerus Mineral Resources PLC - copper mining company focused on Cyprus - Complete 10 diamond drill holes as part of the Anglisides programme at the Troulli mine development joint-venture project in Cyprus. Holes show visible native copper and sulphide mineralisation at shallow depths, companies explain. A further 40 holes commissioned, totalling 2,700 metres of drilling.

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6 Apr 2022 16:03

IN BRIEF: Bezant and Caerus Mineral note maiden results at Troulli

Bezant Resources PLC - copper-gold project developer - Reports initial mineral resource estimate for the Troulli copper-gold project, a joint venture with fellow developer Caerus Mineral Resources PLC. Says a selected cut-off grade of 0.5% copper, a hard rock resource estimate of approximately 2.7 million tonnes at a copper equivalent grade of 0.74% copper equivalent - 0.51% copper and 0.26 grams per tonne of gold - has been established. Both companies look to the further expansion of the Troulli deposit moving forward.

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6 Apr 2022 11:58

Bezant reports positive resource estimate from Troulli JV

(Sharecast News) - Bezant Resources updated the market on its Troulli Mine copper-gold joint venture with Caerus Mineral Resources on Wednesday, announcing the results of an initial mineral resource estimate on the Cyprus project.

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18 Mar 2022 11:44

Bezant upbeat on approval renewal over Mankayan Project

(Sharecast News) - Copper-gold explorer and developer Bezant said on Friday that the Philippines Mines and Geosciences Bureau has renewed Crescent Mining Development Corporation's mineral production sharing agreement for a second 25-year term, with effect from 12 November 2021.

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18 Mar 2022 11:21

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18 Mar 2022 10:22

Bezant shares up as Mankayan receives extension in Philipines

(Alliance News) - Bezant Resources PLC shares climbed on Friday, after it said long-awaited approvals from the Philippines government had been received for the Mankayan project.

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15 Mar 2022 19:45

TRADING UPDATES: Hyve exits Russia; Genel revenue rises in 2021

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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15 Mar 2022 13:39

Bezant upbeat on latest work at Hope and Gorob

(Sharecast News) - Copper-gold exploration and development company Bezant updated the market on the Hope and Gorob drill programme on Tuesday, targeting previously-untested near-surface mineralisation.

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