Wishbone Gold (LON: WSBN) says drilling at the Red Setter gold dome project in Western Australia has reached the top of a significant breccia pipe. Variable intensity is observed from 570 metres to 700 metres. The hole will continue to a depth of 750 metres. The share price jumped 112.4% to 0.79p.
Pulsar Helium (LON: PLSR) says that the Jetstream#1 appraisal well at the Topaz helium project in Minnesota achieved a peak natural flow rate of around 501,000 cubic feet/day. That was achieved with no compression or stimulation. This is better than the tests in 2024. There will be further news from the flow results. The share price rose 19.1% to 30.5p.
Empire Metals (LON: EEE) has reported further assay results from the Pitfield project in Western Australia. This was focused on the weathered cap at the Thomas prospect. There are some of the highest titanium dioxide grades recorded at the project and many of them are more than 7% titanium dioxide. Nearly two-thirds of the drill holes had an average grade of more than 4%. The share price increased 17.7% to 35p.
Cadence Minerals (LON: KDNC) has identified cost reductions at the 35.1%-owned Amapa iron ore project in Brazil. Mining costs have been cut by 37% to $11.20/t and FOB costs are reduced by 19%. Zeus has updated its far value from 18.9p/share to 21.8p/share, most of which is due to Amapa. The share price improved 13.9% to 2.05p.
FALLERS
Low emission fuels developer Quadrise (LON: QED) is near to completing the agreements with MSC and Cargill, but progress is slower than hoped. The commercial scale marine sector trials with the partners will not commence in the third quarter. In the US, production by Valkor has built up slower than expected. There is not enough supply to commence marketing, and a compensation payment is being discussed because of the delay to the deferred licence fee payment. Trials have completed in Panama and results are expected. The share price slipped 10.8% to 2.855p.
European Metals Holdings (LON: EMH) has raised A$3m at A$0.16/share to help pay its A$9.67m contribution to a fundraising by 49%-owned Cinovec project company Geomet. The rest will come from financing a loan and sale of surplus Dukla land, which was going to be for a lithium chemical plant. The Cinovec DFS is progressing and should be completed in October. The share price declined 10.5% to 8.5p.
Lexington Gold (LON: LEX) says that the conceptual study for the Jelani Resources JV project in South Africa has been expanded. This means that it will take longer. When it is completed, the JV will assess whether to apply for a mining licence. Assay results from drilling at the Jennings-Pioneer project in the US are expected in early September. The share price fell 6.49% to 3.6p.
Mosman Oil and Gas (LON: MSMN) has generated $357.3m in revenues from production at the Sagebrush project in Colorado. The average sales price per barrel of oil fell in the second quarter, The after-tax revenues were $230,160. This will help to finance helium exploration. The share price dipped 8.06% to 0.0285p.