Shares in Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) jumped 12% in the wake of an encouraging trading update – one from which it emerged gross profit for the 12 months to 31 March 2023 had increased 170% year-on-year to £1.37mln.
Total production for the period was up 59% to 4,770 tons, while sales jumped 76% to £2.89mln. The basket price of graphite sold was up 17% at £726.
Bradda Head Lithium Limited (AIM:BHL, OTCQB:BHLIF, TSX-V:BHLI) reckons it may have a tiger by the tail in the form of a district-scale lithium discovery in Arizona.
In an update, it said soil sampling results from its property indicated a 9-kilometre mineralised trend while drilling intercepted high-grade lithium-bearing minerals on multiple targets.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has raised £7.52mln through a private placement of shares at a significant premium to Friday's closing price.
The new money along with the company's existing cash balance will be used to finance the completion and operation of the Phalaborwa pilot plant, finalise the Phalaborwa definitive feasibility study (DFS) and for general working capital.
Ora Banda Mining Ltd (ASX:OBM) is aiming to transform from a ~60,000 ounces per annum (kozpa) gold producer to more than 100kozpa within 2 years, underpinned by progressing high-grade underground opportunities and a strong focus on operational delivery.
Portal support works are underway and portal firing is planned for mid-May at the company’s Riverina Underground in Western Australia's Goldfields.