Kainantu Resources (TSX-V: KRL; FSE: 6J0) Ltd is kicking off a financing round to raise funds for exploration at its Papua New Guinea property. The private placement includes up to 100 million shares at C$0.02 per share, with a potential gross proceeds of up to C$2 million. Vancouver-based Kainantu plans to spend around US$500,000 of the proceeds on exploration. Another $500,000 will go towards fulfilling a payment obligation to Harmony Gold (NYSE:HMY) (PNG) Exploration Limited under an Asset Sale and Royalty Agreement from April 2022. The remaining balance will be directed towards general administrative and working capital purposes. Kainantu, or KRL, is an Asia-Pacific focused gold mining company that operates four promising gold-copper projects in Papua New Guinea: Kili Teke, KRL South, KRL North, and the May River Project. More at #Proactive #ProactiveInvestors #TSXV #KRL http://ow.ly/jyQp1053lZs
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Read more about the commencement of drilling to define and extend copper mineralisation at our Mumbezhi Project in Zambia in the below Stockhead article ➡️ #ProspectResources #PSC #Mumbezhi #Zambia #Copper
Prospect Resources has started maiden drilling to define resources and test extensional opportunities at its recently acquired Mumbezhi copper project in Zambia. Prospect Resources Limited https://buff.ly/3S1VYrG #ASX $PSC
Prospect Resources starts copper drilling at Mumbezhi Project - Stockhead
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TEMPLARS has advised ElectroChem Ghana Limited (the largest salt mining company in Africa) on a USD 30 million equity investment to the Minerals Income Investment Fund (MIIF) – a sovereign fund that seeks to manage the equity interests of, and receive mineral royalties and income for, Ghana. The transaction aims to finance Electrochem’s expansion of the Ada Songhor salt mining project, which spans over 40,000 acres of salt-rich basins. Since obtaining the concession in 2020, Electrochem has invested significantly to increase salt production to over 1 million metric tonnes annually, with a projected revenue of USD 6 billion over the next decade. MIIF's investment will support earthworks, equipment purchases, and the construction of a port facility, expected to create over 100,000 jobs and boost local economic growth. The investment leverages opportunities from the African Continental Free Trade Area (AfCFTA) Secretariat and reinforces MIIF’s commitment to diversifying its mining portfolio. This strategic move enhances Electrochem’s valuation ahead of its planned initial public offering. The TEMPLARS team was led by Partner, Sarpong Odame supported by Senior Associate, Kojo Amoako, and Associates, Matilda K. Sarpong and Nana Kofi Amadieh. ..................................................................... #Electrochem #Ghana #MIIF #SaltMining #EquityInvestment #AfCFTA #MineralRoyalties #GhanaEconomy #Mining #SovereignFunds #Investment #EconomicGrowth #ProjectExpansion #LegalAdvisory #AfricaBusiness #CorporateFinance #IndustrialDevelopment
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Aterian plc (LSE: ATN), the critical metal-focused exploration and development company, is pleased to provide an update on Rwandan exploration activities by its Rwandan subsidiary, Eastinco Limited ("Eastinco"). Highlights: 👉 Eastinco has been formally invited by the Rwanda Mines, Petroleum and Gas Board ("RMB") to negotiate terms for a significantly larger mineral exploration licence for the Musasa project area in Rwanda. 👉 Eastinco will exercise its option to acquire the 15 % minority partner interest from Kuaka Cooperative ("Kuaka"), its partner in the Musasa project. 👉 Eastinco announces that it has sent a joint venture termination notice to its partner, Dynasty Construction ("Dynasty"). 👉 The Government of Rwanda recently announced that it has partnered with Rio Tinto Minerals Development Limited ("Rio Tinto") to collaborate in mineral exploration activities and potential mineral development and mining operations for lithium, tin, tantalum, tungsten and associated metal deposits in Rwanda. The Musasa licence area is known for its significant mineral potential, showing prospective mineral opportunities for #lithium, #tantalum, #niobium, tungsten, and tin. The RMB invitation to negotiate final terms for the exploration agreement marks a key step forward in Eastinco's strategic expansion within the region and, upon completion, will increase Eastinco's total Rwandan project exploration area by no less than 350 hectares to 3,100 hectares. The new licence area significantly increases the licence area from 50 hectares under the original agreement with Kuaka. https://lnkd.in/gR5AUsW7
Aterian PLC - Rwanda Exploration Update - Vox Markets
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TEMPLARS has advised ElectroChem Ghana Limited (the largest salt mining company in Africa) on a USD 30 million equity investment to the Minerals Income Investment Fund (MIIF) – a sovereign fund that seeks to manage the equity interests of, and receive mineral royalties and income for, Ghana. The transaction aims to finance Electrochem’s expansion of the Ada Songhor salt mining project, which spans over 40,000 acres of salt-rich basins. Since obtaining the concession in 2020, Electrochem has invested significantly to increase salt production to over 1 million metric tonnes annually, with a projected revenue of USD 6 billion over the next decade. MIIF's investment will support earthworks, equipment purchases, and the construction of a port facility, expected to create over 100,000 jobs and boost local economic growth. The investment leverages opportunities from the African Continental Free Trade Area (AfCFTA) Secretariat and reinforces MIIF’s commitment to diversifying its mining portfolio. This strategic move enhances Electrochem’s valuation ahead of its planned initial public offering. The TEMPLARS team was led by Partner, Sarpong Odame, supported by Senior Associate, Kojo Amoako, and Associates, Matilda K. Sarpong and Nana Kofi Amadieh. ..................................................................... #Electrochem #Ghana #MIIF #SaltMining #EquityInvestment #AfCFTA #MineralRoyalties #GhanaEconomy #Mining #SovereignFunds #Investment #EconomicGrowth #ProjectExpansion #LegalAdvisory #AfricaBusiness #CorporateFinance #IndustrialDevelopment
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B2Gold plans N$624m investment into Otjikoto mine for 2024 B2Gold Corp. is set to invest N$624 million in capital expenditure into the Otjikoto mine in 2024. According to a release by the Canadian gold miner, within this financial framework, approximately N$605 million is designated for sustaining capital expenditures. The release also states that sustaining capital expenditures are poised to cover crucial aspects such as capitalized stripping and deferred underground development, essential for sustaining and enhancing the mine's operational efficiency. Meanwhile, B2Gold has also earmarked a record N$170 million for exploration activities at its Otjikoto Mine in Namibia in 2024 with a primary focus on the recently unearthed Antelope deposit located approximately 3 kilometers south of the Otjikoto Mine Phase 5 open pit. https://lnkd.in/dkpCsYri #namibia #goldmining #gold #investment Namibia Investment Promotion and Development Board (NIPDB) Chamber of Mines Namibia John Roos
B2Gold plans N$ 624m investment into Otjikoto mine for 2024
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TERTIARY MINERALS’ ZAMBIAN SUBSIDIARY SIGNS STRATEGIC AGREEMENT WITH FQM ON MUKAI COPPER PROJECT Tertiary Minerals’ newly established Zambian subsidiary, Copernicus Minerals, has signed a binding letter of agreement (BLA) with First Quantum Minerals (FQM) for the Mukai copper project in Zambia. Copernicus Minerals is 90% owned by Tertiary Minerals (Zambia), which is 96% owned by Tertiary Minerals. Under the agreement, FQM is granted an initial 24-month exploration due diligence period, during which it is committed to funding a minimum of $1.5 million in exploration expenses, with $500,000 allocated for the first year (Phase 1). FQM can earn an initial 51% stake in the…READ MORE HERE https://lnkd.in/dSuXyADE
Tertiary Minerals’ Zambian Subsidiary Signs Strategic Agreement with FQM on Mukai Copper Project
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ZCCM-IH INVESTEE COMPANY – MAAMBA COLLIERIES LTD – GRANTED EXPLORATION LICENSES FOR LITHIUM AND OTHER MINERALS IN SOUTHERN PROVINCE, ZAMBIA ZCCM Investments Holdings Plc (ZCCM-IH) is pleased to announce that its investee company, Maamba Collieries Limited (MCL), in which it has a shareholding of 35%, has been issued two Large Scale Exploration Licenses for Lithium and other minerals (amethyst, aquamarine, tantalum and tin) in the Southern Province of Zambia. MCL intends to commence exploration as soon as possible to ascertain the presence of these minerals in these licence areas. The licenses are valid for a period of four years during which period MCL plans to carry out detailed exploration to ascertain the presence of mineable resources of the various minerals and thereafter proceed to determine the quantum of resources and reserves if applicable. These two license areas are located approximately 100 km southwest of MCL’s coal mine in Maamba. Lithium is part of the critical battery metals that ZCCM-IH has planned to explore for in its 2020-2026 strategic plan. As such the granting of the two licences to its investee company contributes to the strategy to diversify the company’s mineral commodity base. #MaambaCollieries #ZCCMIH #investingsmartly
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Option to Acquire Baga Gold Project, Cote d’Ivoire Many Peaks Minerals (ASX:MPK) Executive Chairman, Travis Schwertfeger commented: “Having quickly established ourselves in Côte d’Ivoire and successfully initiating exploration activity within weeks following acquisition of the exciting Odienné and Ferké projects, the Company is very pleased to identify an additional opportunity further bolstering our pipeline of projects for growth within the same jurisdiction. The Baga Gold Project is complimentary to the existing portfolio in Côte d’Ivoire providing several operational synergies delivering opportunities for an increase in positive results to the market and significant leverage to adding value through exploration success. Located in a region that has demonstrated its potential to host world-class gold deposits, this acquisition aligns with our commitment to adding shareholder value through innovative and cost- effective exploration, discovery, and resource development.” Congrats to the whole team at Many Peaks Minerals (ASX:MPK) Travis Schwertfeger Ben Phillips, Marcus Harden, Aaron Bertolatti #asxnews #investingnews #gold #goldinvesting https://lnkd.in/ga_sJTa6
Option to Acquire Baga Gold Project, Cote d’Ivoire
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Secretary, Special Investment Facilitation Council Secretariat (SIFC), Prime Minister's Office, Government of Pakistan
Exploration & development of the Mines & Minerals sector is on top of the priority list of Special Investment Facilitation Council-SIFC. In addition to the existing exploration by Barrick Gold, the second phase of Rekodeq development is expected to start soon inshaAllah... #RisingPakistan #SIFC
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Pensana PLC (LSE:PRE, OTC:PNSPF), a rare earth exploration, mining, and processing group, highlighted several operational milestones in today’s interim results. Among them was finalising the revised execution plan for its Longonjo project, reducing upfront capital expenditure to US$217 million. Post-period, Pensana concluded a term sheet for a US$156 million project finance debt facility. The company also noted the approval by one of its major potential customers of the product qualification specifications for Longonjo’s proposed mixed rare earth carbonate (MREC) product. Pensana also did not issue any equity during the period, though it did receive a bridging loan facility from the Angolan sovereign wealth fund. Pensana managed to decrease administration expenses from $4 million in last year’s interims to $3.46 million in the latest period. It exited the period with $2.45 million on the... More at #Proactive #ProactiveInvestors http://ow.ly/Z7Yf105nFw9
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