Prospect Resources Limited’s Post

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

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

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

Royal Road Minerals' Saudi Arabian joint venture, Royal Roads Arabia (RRA), has been granted preferred bidder status for the Jabal Sahabiyah exploration license in Asir province. The joint venture, formed with Saudi investment holding company MSB for copper and gold exploration, is set to operate under a 50/50 basis. The license covers around 284 km² and was discovered in the late 1970s. The company plans to deploy advanced exploration techniques, including drone-borne hyper-spectral scanners and expects to spend at least $5.5 million over the initial five years. The license, subject to certain conditions, has an initial term of five years, renewable for a total of 15 years. Following the announcement, Royal Road Minerals' shares surged 10.5%. #saudivision2030 #miningindustry #goldmining #coppermining

🌟 Drilling commences at Mumbezhi Copper Project 🌟   We are pleased to announce the commencement of our maiden drilling program at the Mumbezhi Copper Project in Zambia's renowned Copperbelt. This initial phase includes approximately 30 holes of reverse circulation and diamond drilling, totaling around 7,000m.   Highlights ➡️ - Targeting the Nyungu Central deposit with both Mineral Resource definition and extensional growth drilling. - Significant copper intersections from validated historical drilling data, including:  - 140.0m @ 0.59% Cu from 51.0m  - 32.0m @ 0.87% Cu from 353.0m  - 20.0m @ 1.08% Cu from 27.0m  - 17.0m @ 1.03% Cu from 29.0m  - 11.0m @ 1.37% Cu from 134.0m - 3D modelling and interpretation of the Nyungu deposits underway. - Environmental and Social Impact Assessment reporting in progress.   Our Managing Director and CEO, Sam Hosack, emphasises the importance of this milestone for our team and the significant potential of the Nyungu Central deposit. Stay tuned for more updates as we advance this project!   Read the full announcement ➡️ https://bit.ly/4bCRUFw   #ProspectResources #PSC #CopperExploration #Zambia #Mining #Drilling #MineralResources

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

**#Sibanye to shut loss-making 4B shaft in Marikana, South Africa** - Sibanye-Stillwater, a South African #mining company, has announced the impending closure of its lossmaking 4 Belt (4B) shaft at the #Marikana #platinum operations, a move that is set to impact 855 jobs. - The decision to close the shaft follows its failure to meet profitability conditions, as determined by the Section 189A process of the South African PGM (Platinum Group Metals Ltd.) operations, which was announced in October last year. - Despite various successful initiatives and stronger PGM prices that had previously kept the shaft operational, efforts to restore profitability since 23 February 2024 have been unsuccessful, leading to the decision to cease operations at the 4B shaft. - Out of the 1,496 workers and 54 contractors at the shaft, 643 employees have accepted voluntary separation or early retirement packages, while the fixed-term contracts of 93 employees will not be renewed. - Furthermore, since 23 February 2024, 226 employees have left due to natural attrition, while 65 employees and 54 contractors have been laid off. As a result, a total of 469 employees have been reassigned to other PGM operations within South Africa. #mines #mining #rawmaterials #decarbonisation #mineralexploration

PNR SECURES OVER P270 MILLION FUNDING TO ADVANCE WORK ON SELEBI ASSETS Premium Nickel Resources Ltd, the Canadian firm redeveloping former BCL assets has closed in on private placement, raising C$27.5 million (over P270 million) to advance its work in Botswana. This funding comprises (i) C$15 million, which closed on June 14, 2024, and (ii) C$12.5 million, which closed earlier this week. The net proceeds of the Offering will be used by the Company to advance the exploration and development of its past-producing nickel-copper-cobalt-platinum group element (Ni-Cu-Co-PGE) sulphide assets in Botswana and for general corporate and working capital purposes. All securities issued under the Offering are subject to a hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the Exchange. The Offering remains subject to final acceptance by the Exchange. Keith Morrison, CEO of PNRL, commented: "We are very pleased with the result of this financing. This financing will provide the capital needed for continuing the underground infill drilling at Selebi North, and the surface in-fill and exploration drilling at Selebi Main and in the Hinge Zone. The Selebi mineral resource estimate is on track to be released in the coming weeks. Additionally, we anticipate publishing a maiden mineral resource estimate, prepared in accordance with NI 43-101, for Selkirk in Q4 2024". -The Projects Magazine #MiningIndustry #InvestmentMagazine #PremiumNickelResources

We are thrilled to announce that Limeco Resources, a key project under Firering Strategic Minerals plc (LON), which is a corporate client of Shard Capital, has been awarded a 392.51-hectare exploration licence adjacent to its current project site in Zambia. This development significantly enhances Limeco’s quicklime project, which is set to begin phased production later this year.   Key Highlights:   Expanded Resource Potential: The new licence could increase Limeco’s Mineral Resource Estimate (MRE) by an additional 60 to 70 million tonnes, supporting their robust 30-year life-of-mine operations.   Strategic Advantage: Positioned to meet Zambia’s growing copper production needs, Limeco will soon be producing 600-800 tonnes of quicklime per day, reducing the region's reliance on imports. Rapid Progress: With the first of eight kilns coming online in Q4 2024, Limeco is on track to become one of the largest quicklime producers in the region, contributing to Zambia's goal of boosting copper production to 3 million tonnes annually by 2030.   We are proud to support Firering Strategic Minerals as they continue to drive this transformative project forward, contributing to the growth of Zambia's critical minerals sector.   Read the full article below, including the interview given by Yuval Cohen, Chief Executive of Firering Strategic Minerals and Limeco.   #Quicklime #Mining #CopperProduction #Zambia

We are pleased to share the latest exploration updates from our Step Aside and Omaruru Lithium Projects in Zimbabwe and Namibia, respectively.   Step Aside Lithium Project (90% PSC): 🔹 Phase 4 diamond drilling results are in, revealing significant intercepts, including:   - 13.0m @ 1.68% Li₂O from 75.5m (CDD078) – WinBin   - 15.3m @ 1.25% Li₂O from 179.9m, incl. 11.0m @ 1.60% Li₂O from 182.0m (CDD090) – Pegmatite E   - 5.0m @ 1.68% Li₂O from 149.0m (CDD042 – re-entry) – Pegmatite C 🔹 The high-grade WinBin zone extends another 100m southwest and remains open. 🔹 Northern Pegmatite E deposit shows promising thickness at depth.   Omaruru Lithium Project (100% PSC): 🔹 Completed Phase 2 RAB and RC drilling programs. 🔹 Results show extensions of the Karlsbrunn Main deposit and further anomalous lithium mineralisation along Brockmans' strike.   As we now gear up to advance our Mumbezhi Copper Project in Zambia, we are set to explore commercialisation strategies for Step Aside and Omaruru, including potential sales to fund our key initiatives.   Our Managing Director and CEO, Sam Hosack, stated: “We are very pleased with the progress made at Step Aside and Omaruru via our exploration activities to date. Our teams have worked diligently to produce these results over four phases of drilling at Step Aside and two phases at Omaruru, conducted progressively over the past two years. At every stage, these assets have indicated substantial additional mineralisation growth potential ready to be further uncovered.”   Read the full announcement here ➡️ https://bit.ly/4cqN2Ut   #ProspectResources #PSC #ASXNews #Zambia #ResourceExploration