Proactive weekly mining highlights: Bushveld Minerals, Greatland Gold, Base Resources…

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Bushveld Minerals Ltd (LON:BMN), a vertically integrated primary vanadium producer, said a consortium of investors in Enerox GmbH will invest US$30mln (£21.8mln) to scale up annual production capacity to 30MW (120-240 MWh) by 2022.

Enerox is a vanadium redox flow battery (VRFB) manufacturer, providing grid scale and micro-grid energy storage solutions. Future expansion plans could allow Enerox to increase its production capacity to at least 150 MW (600-1,200 MWh) by 2025.

“Investing in VRFB manufacturers is a part of Bushveld Energy’s strategy, designed to play a catalytic role in mobilising third-party capital to assist VRFB manufacturers scale up of sales and manufacturing capacity in order to meet the fast-growing demand for long duration energy storage solutions,” said Bushveld chief executive Fortune Mojapelo.

Greatland Gold PLC (LON:GGP) applied for two new exploration licences adjacent to the company’s Ernest Giles project in Western Australia. The two applications are for Mount Smith (E38/3612) and Welstead Hill (E38/3613) and cover a total area of 1,070km2. 

Base Resources Ltd (LON:BSE, ASX:BSE) said it completed a pre-feasibility study (Kwale North PFS) on the potential for the North Dune and Bumamani deposits to extend the mine life at its Kwale mineral sands operation in Kenya. The study concluded that it was not currently viable to mine all of these deposits mainly due to the low heavy mineral grade, high land acquisition costs and elevated slimes content and associated tailings disposal costs.

Petropavlovsk PLC (LON:POG) expects total gold production to fall as much as a fifth this year mainly due to a drop in third-party output after management issues disrupted the signing of concentrate contracts. It forecast 2021 gold production of 430,000-470,000 ounces, comprising of 370,000-390,000 ounces of its own output and third-party gold production of 60,000 to 80,000 ounces.

Conroy Gold and Natural Resources PLC (LON:CGNR) hit high grade zinc in an infill soil sampling programme on the northern section of its holdings on the Longford Down massif in Ireland. Values of 3,700 parts per million zinc were recorded, with 10 samples greater than 1,000ppm zinc.

Scotgold Resources Ltd (LON:SGZ) said it raised £1.5mln through a placing and will use the proceeds for working capital through the current production ramp up at the Cononish gold and silver mine in Scotland. It placed 2.1 million new shares at 70 pence each.

IronRidge Resources Ltd (LON:IRR) announced additional high-grade drill intersections at the Zaranou project in the Ivory Coast, following the results of drilling over the Mbasso, Ehuasso and Yakassé targets. Two of the highest-grade intercepts were reported from the Mbasso target

Power Metal Resources PLC (LON:POW) says exploration at Molopo Farms in Botswana has confirmed the presence of nickel sulphides. The metal was identified in three core samples containing visible sulphide grains taken from drill hole KKME 1-6.

Oriole Resources PLC (LON:ORR) said the first hole of a planned 28-hole programme at Bibemi in Cameroon has confirmed the proof of concept.

Pembridge Resources PLC (LON:PERE) said it has made the first payment towards the purchase of the Minto operations in the Yukon, Canada, under a deal inked in 2019.

Horizonte Minerals PLC (LON:HZM) (TSE:HZM) said it had ended 2020 with £10.9mln in cash which was supplemented post-period by an £18mln fundraising in February.

BlueRock Diamonds PLC (LON:BRD) sold three recently recovered gem quality stones of 8.4 carats, 10.6 carats and 9.7 carats.  The stones were sold for US$88,000, US$73,000 and US$53,000 respectively.

Afarak Group PLC (LON:AFRK, NASDAQ:AFAGR) cleared the decks with a series of statements, after Wednesday’s market close, detailing a refinancing as well as uploading a financial statement and an auditor’s report to its website.

Great Western Mining Corp PLC (LON:GWMO, Euronext Growth:8GW) said drilling has started on its operations in Mineral County, Nevada to test a prospective copper target and is likely to be followed by a second hole on the same prospect

Cobra Resources PLC (LON:COBR) said analysis of the drilling at the Wudinna gold project in South Australia had identified a strike extension of mineralisation at the Clarke prospect.

Panther Metals PLC (LON:PALM) completed the initial exploration programmes on its 100%-owned Merolia gold project in Western Australia.

Trident Royalties PLC (LON:TRR) is set to complete on the acquisition of the Talga gold royalty, once the consideration shares are admitted to trading. The deal was initially announced in August 2020

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