Among the milestones passed is that a project concept note (PCN) which started in July 2015 as part of a formal review process, has been reviewed and accepted by the State-run Tanzania Electric Supply Company Ltd ( Tanesco).
Since a partial suspension order was lifted in April, executive chairman Ian Holzberger said Metal Ex had rapidly moved into the ore commissioning and "debugging" phase.
The transaction will allow the group to correct possible dilution of its black economic empowerment (BEE) ownership, it said in the statement.
Sunrise Resources (LON:SRES) has raised £300,000 to fund further work on its precious and industrial metals tenements in Nevada, US.
The placing was priced at 0.12p per share with a warrant attached exercisable at double that price.
Condor Gold (LON:CNR) will focus this year on obtaining permission for a 2,800 tonne daily processing plant at it La India gold project in Nicaragua, said chief executive Mark Child.
“Much of 2015 was spent executing a twin strategy of de-risking the La India Project, Nicaragua, by preparing and submitting an Environmental Impact Assessment,” he said.
Andrew Suckling, Rare Earth Minerals plc (LON:REM) non-executive chairman, today highlights lithium is coming into high demand across the globe due to the rapid technological advances in electric vehicles.
In today’s financial results statement the company, which is developing lithium assets, told investors it is confident that each of its significant projects will continue to grow.
The new shares, which were sold at 1p, will fund further exploration and development of its two main projects at MB in Nevada and Storuman in Sweden.
Bass has completed due diligence and a sale and purchase agreement is being negotiated, Stratmin said.
Xtract Resources (LON:XTR) has sold its Manica gold project in Mozambique less than a year after it acquired it.
The explorer only received government approval for its acquisition in March but said the likely dilution in raising US$35mln to build a mine had prompted it to accept the offer from Nexus Capital/MTI.
The company, which had focussed on mining, is now backing a new vehicle called WestportEnergy PLC which is targeting gas acquisitions in the United States.
Three more holes at Mariana Resources Ltd’s (LON:MARL) Hot Maden have returned high grades of gold and copper.
Drilled down to more that 300m, best intercepts from holes HTD-51 to HTD-53 included gold at 4.4g/t and 8.8g/t over 31m and 40m and 0.77% copper.
Shares in Tajikistan-focused China Nonferrous Gold Ltd (LON:CNG) rose over 6% as it struck a procurement deal with its 38.36% shareholder China Nonferrous Metals International Mining Co Ltd (CNMIM).
The group is currently mining the Pakrut project, where first gold was produced in January.
Predominately a copper mine, Ming produced 4,530 tonnes of concentrate in the three months to April, which was 25% more than the previous quarter but down on the first.
Royalties in the first quarter to March dropped to £1.9mln (£2.3mln) but, like 2015, income is expected to be heavily weighted towards the second half of the year said Julian Treger, chief executive.
Asiamet Resources Limited (LON:ARS, CVE:ARS) has kicked off a 9,000m resource definition drill programme at the Beruang Kanan Main (BKM) copper project in Indonesia with a view to posting an updated estimate before the end of the third quarter of 2016.
It follows a positive preliminary economic assessment for the copper project and is part of the feasibility study process.
Eurasia Mining (LON:EUA) has farmed out the mining of its West Kytlim alluvial platinum deposit in the Urals to local Russian firm SKRS.
SKRS will be responsible for construction and processing ore from the Malaya Sosnovka sub-area at West Kytlim in return for a 70% share of revenue
Metals miner Mandalay Resources Corporation (TSE:MND) has appointed capital markets professional Amy Freedman to its board as an independent director with immediate effect.
She will also serve on the audit committee, where she will replace Peter Jones, who was serving on an interim basis. Jones will remain on the board.
Production at the site, a former producer, is suspended as the firm awaits the outcome of a judicial review in September this year concerning the planning consent for an underground operation granted last year.
Production in the three months to March Totalled approximately 415,000 carats at an average grade of 12ct per tonne of alluvial gravel.
Latest drill results have boosted Ormonde Mining’s (LON:ORM) plan to extend the life of its Barruecopardo tungsten mine in Spain by going underground.
Assays from holes drilled beneath the expected open pit site returned tungsten grades between 1.95% to 2.59% over narrow widths and 0.26% and 0.21% over 23m and 25m at depths below 170m.
The gold miner raised US$10.5m through a placing, a US$5.25m silver stream deal and paid off US$10mln worth of convertible loans.
Westgold Inc will focus on low-cost acquisition of precious metal projects in the western USA and two projects have already been claimed and it is now compiling historical data.
Production at the recently commissioned mine in Liberia was suspended three weeks ago after too high concentrations of cyanide were found in waste from the process plant.
Lithium suppliers have been quick to respond to the likely upsurge in demand when electric cars became mainstream.
Broker Liberum, however, still expects demand to outstrip even this new supply and says junior miners are in a prime position to benefit.
The Aim-listed junior is developing the mine in two stages, with the fast track (FTM) first stage granted approval last November.
Michael Masterman, chairman, said work on the La Parrilla mine plan was progressing well.
Laying out the reasoning for its ‘buy’ recommendation the broker said the North Yorkshire polyhalite mine development will be a ‘paradigm-shifting’ project.
Sable said it noted “recent media comment and speculation regarding allegations of bribery and corruption made against the company in Liberia.”
Not much, certainly from the financial figures themselves, which showed revenues at a low-key C$28,000 and net losses at a mild C$373,345, down from the C$415,000 reported in the corresponding quarter in 2015.
It is to acquire a stake in NAE Resources (UK) Limited, otherwise known as Redmoor, from Aussie firm New Age Exploration Limited.
If Sam Spring’s comparison of south eastern Mongolia now to Chile in the 1970s holds any water at all, then Kincora Copper’s (CVE:KCC) latest deal could position it as a significant player in the world’s next major copper province.
Azerbaijan-focused Anglo Asian Mining Plc (LON:AAZ) said increased metal prices in 2016 give it confidence of a sustained recovery, as it posted 2015 results, which showed record gold production from its Gedabek mine.
Total output of the yellow metal was 72,032 ounces, compared to 60,285 ounces in 2014, while sales were 63,924 ounces (2014: 50,615 ounces) for an average of $1,161 per ounce (2014: $1,267 per ounce).
Mariana Resources Ltd (LON:MARL) expects to complete a new resource estimate for the Hot Maden project in Turkey next month (June) as it continues to receive exciting. high grade results from on-going drilling.
Funds managed by Blackrock have put up £7.7mln through a placing of 9.75mln units at 79p each. The units include warrants that if exercised would take the amount raised to £10mln.
Gemfields PLC (LON:GEM) achieved a new record at its auction of rough emeralds in Jaipur, India last week.