IronRidge Resources Ltd (LON:IRR) said Piedmont Lithium Inc., a Nasdaq-listed lithium exploration and development company, has agreed to fully fund and fast track the Ewoyaa lithium project in Ghana for US$102mln.
Under the agreement, Piedmont can earn 50% of IronRidge’s Cape Coast Lithium Portfolio (CCLP), which includes the Ewoyaa project, in three stages. Piedmont will subscribe to 54.0mln shares in IronRidge at 20p per share, totalling GBP10.8mln (US$15mln) and giving it a 9.5% stake in IronRidge.
Vision Blue, the investment vehicle run by mining mogul Mick Davis, has pumped a further US$7mln into Ferro Alloy Resources Ltd (LON:FAR) via a subscription and the issue of loan notes. The Investment will bring the total invested to date by Vision Blue and its co-investors into Ferro Alloy to US$10.1mln.
Shanta Gold Ltd (LON:SHG) announced high-grade drilling results from the phase 1 drilling programme at its West Kenya project. Visible gold was identified in four different intersections across 15 holes drilled as part of the drilling programme conducted in April and May 2021 at the Isulu and Bushiangala deposits.
Rio Tinto PLC (LON:RIO) said all mining and smelting operations at Richards Bay Minerals (RBM) in South Africa have been halted until further notice and the FTSE-100 company declared force majeure on customer contracts due to an escalation in the security situation at the operations.
BlueRock Diamonds PLC (LON:BRD) said it expects to complete the expansion project shortly at its Kareevlei diamond mine in South Africa. It anticipates building up to full production in August enabling it to hit its full-year output guidance of 750,000 tonnes to 850,000 tonnes processed and between 30,000 to 39,000 carats produced.
Sunrise Resources PLC (LON:SRES) has returned high-grade gold assay results from the recently completed drill programme at its wholly-owned Baker’s gold project in the Meekatharra district of the Murchison Goldfield in Western Australia.
Amur Minerals Corp (LON:AMC) announced a 12% increase in JORC-resource estimates at its Kun-Manie nickel-copper sulphide project in Russia’s far east. The overall ore tonnage increased by 19.2mln tonnes (Mt) to 174.3 Mt,
Oriole Resources PLC (LON:ORR) reported initial results from the Phase 2 exploration programme at the Assaleyta project in Djibouti. Best results from reverse circulation drilling include 16-metre grading 1.08 grammes per tonne of gold from 12 metres.
Scotgold Resources Limited (LON:SGZ) said it encountered high-grade ore zones more quickly than hoped at the Cononish gold and silver project in Scotland. In recent weeks the AIM-listed company accessed ore at levels that peaked at 40 grammes per tonne (g/t) in a zone where it now plans to continue mining for two months, with expected blended grade averaging above 10 g/t.
Trident Royalties PLC (LON:TRR) said it entered a US$10mln secured loan facility agreement with a syndicate managed by Tribeca Investment Partners, including the CNL Sprott Strategic Asset Fund and Paul Smith, the company’s chairman.
Cornish Metals Inc. (LON:CUSN, TSX-V:CUSN) said it had reached an agreement to restructure the deferred payments to be made to the sellers of the South Crofty tin project and associated mineral rights.
Kavango Resources PLC (LON:KAV) said geological surveys at the Ditau rare earths project in Botswana identified seven targets, of which three will be followed up with drilling. Each target includes a possible carbonatite intrusive body within a depth of 300m and lying within range of reverse circulation (“RC”) drilling.
AEX Gold Inc. (LON:AEXG, TSXV: AEX) said it applied for a new exploration licence in the Kobberminebugt region of South Greenland covering an area of approximately 266 km2. The area hosts numerous copper-gold showings including the small past-producing Josva copper mine.