The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Fulcrum Metals PLC - Canada-focused commodity explorer - Subsidiary Fulcrum Metals Canada Ltd enters into agreement to acquire a 100% interest in the Sylvanite Gold Tailings project, Ontario. Says the mine, located near Fulcrum’s Teck-Hughes Gold Tailings project, ‘significantly expands its footprint in the Kirkland Lake Gold Camp, one of the most productive gold camps in Canada’. The project has a historic tailings resource estimate of up to 67,051 ounces of gold, and Fulcrum believes a combination of gravity, grinding and flotation techniques could boost the recovery of gold tailings to 70%. Chief Executive Officer Ryan Mee says: ‘This not only enhances our presence in the Kirkland Lake gold camp, one of the most productive gold camps in Canada, but provides us with an opportunity to create a tailings hub and, therefore, economies of scale.’ Fulcrum will pay a total consideration of C$340,000 for the interest, around £197,000, comprising a C$240,000 cash consideration and C$100,000 worth of Fulcrum shares. Panther Metals PLC, which holds a 20% interest in Fulcrum, noted the announcement, describing the deal as ‘a significant win for the company given the potential economic returns available through tailings reprocessing and mine waste management opportunities’.
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Vinanz Ltd - British Virgin Islands-based cryptocurrency business and bitcoin miner - Receives The Depository Trust Company full-service eligibility in the US, which Vinanz says will make its shares ‘more accessible to US retail and institutional investors’. The DTC is the largest securities depository in the world, and facilitates the electronic settlement of stock certificate transfers in the US. Vinanz shares are now eligible to be electronically cleared and settled through the DTC, and the company says this security clearing method ‘offers a more efficient, lower-cost settlement process for investors and brokers’. Executive Chair David Lenigas says: ‘Securing DTC eligibility is very exciting news for the company and completes our goal of enabling US investors to easily trade in Vinanz’s shares under our OTCQB listing on-line, in real-time and in US dollars with the ticker symbol ’VINZF’’.
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Aura Energy Ltd - clean energy mineral developer focused on advancing the Tiris Uranium Project in Mauritania - Says that the results from recent drilling at Tiris ‘continue to demonstrate the significant potential to grow the Project’s Mineral Resources’. The current resource estimate for Tiris is 58. Drilling has defined mineralisation over an 8 kilometre strike at the Hippolyte South section, and Aura said that further drilling at the Sadi area will contribute to an updated estimate of the project’s resources. Aura is expecting to release an updated mineral resource estimate for Tiris this quarter. A recent front end engineering design study at Tiris demonstrated the project’s ‘excellent economics’, Aura says, with a net present value estimate of $366 million and a 34% internal rate of return.
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Premier African Minerals Ltd - acquirer and developer of mineral assets across Africa - Says that the findings from the engineering contractor at the Zulu lithium plant identified ore grades and contained spodumene consistently ranging from 1.1% to 1.7% lithium oxide. Stability in the comminution circuit has been achieved at the plant, and ‘the new mill and jet sizers are now consistently able to provide the required tonnage of correctly sized material to the thickener’, Premier adds. Chief Executive Officer George Roach says: ‘Premier believes we are now in the home stretch with commissioning the Zulu plant operation. Our team at Zulu and our original equipment manufacturers should be commended for what has been achieved in the past 5 weeks and Premier looks forward to finally getting this plant over the line.’
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