Shares in Goldstone Resources (LON: GRL) have risen a further 41.2% to 1.2p following last week’s announcement that it is raising £2m at 1p/share, which was then a premium to the market price. The share price has trebled in the past week. The cash will fund exploration at the Homase mine in Ghana to expand the JORC resource and to evaluate other gold projects, including one in Sierra Leone.
Nativo Resources (LON: NTVO) has appointed Constructora e Inversiones Andina Kuboc C&P SAC as mining contractor for the Bonanza gold mine in Peru. The focus is improving the mine infrastructure. This brings gold production nearer and first gold sales could be in March. Early production of 50-90 tonnes per month is targeted. The share price increased 32% to 0.66p.
Andrada Mining (LON: ATM) has revealed good surface sampling results from Lithium Ridge in Namibia. Multiple samples had grades exceeding 4% Li2O. There is also tin and tantalum mineralisation. The share price improved 3.53% to 4.4p.
Thor Explorations (LON: THX) has announced a pre-feasibility study for the Douta gold project in Senegal and first production could be in 2028. The pre-tax project NPV5% is $908m at a long-term gold price of $3,500/ounce, while the post-tax NPV5% is $633m. This assumes 100% ownership. Payback of initial capital investment of $254m could be less than one year. There could be one million ounces of gold produced over nearly 13 years. The resource can be extended. Thor Explorations is buying out its 30% joint venture partner in the Douta West permit joint venture Birma Resources for an initial $1.5m. The share price gained 5.49% to 96p.
FALLERS
Contract proteomics services provider Proteome Sciences (LON: PRM) has raised £840,000 at 1.75p/share and a retail offer could raise up to £60,000. The cash will be used to increase Tandem Mass Tags plexing rate from 32x to 96x and introduce novel Solvent Shift chemoproteomic workflows. It will also go towards launching a new range of DXT isotopic plex tags and concluding a DXT licence, will increasing capacity in San Diego. The share price slumped 31.9% to 2.2p.
Botswana Diamonds (LON: BOD) been awarded eight prospecting licences in north west Botswana. They have been chosen for prospectivity for copper, gold, silver and other critical minerals. The company is speaking with potential joint venture partners. The share price dipped 6.56% to 0.285p.
Active Energy Group (LON: AEG) has entered a non-binding memorandum of understanding with two existing UAE-based partners to form a joint venture for Bitcoin mining in the UAE. One partner has digital infrastructure expertise and the other has relationships with hosting clients and sales expertise. The share price fell 9.76% to 0.0925p.
Stephen Diggle has stepped down from the board of Oxford BioDynamics (LON: OBD) after nearly a decade. He is also a director of Proteome Sciences and controls Vulpes Investment Management, which owns 14.4% of Oxford BioDynamics and will nominate another director for the EpiSwitch 3D genomics platform developer. The share price slipped 3.7% to 0.26p.