Panthera Resources PLC (AIM:PAT) reported a narrower loss in the six months to September, gave an update on the next stages of its legal challenge in India, and said it will need to raise more cash before long.
This month the group raised £935,000 from a share issue.
Gold hit an all-time high in 2023, dragging silver up with it and experts see little reason why its upward progress should falter in the coming 12 months.
Traditionally, gold is on the other end of a seesaw with the US dollar.
Galileo Resources PLC (AIM:GLR) reported a reduced loss for the first half of the year while also progressing its various projects in Zambia, Zimbabwe, Botswana, South Africa, and the US state of Nevada.
A post-tax loss of £521,764 was recorded for the six months to 30 September 2023, versus £1,554,313 a year earlier, or 0.05p per share compared to 0.13p.
Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) has completed site works at the location of the planned Bolling #4 SESW development well at its high-grade Voyager helium project in Las Animas County, Colorado.
The company reports that the hydro spudder rig is now mobilising to site to set the conductor after which the well will be ready for the main rig arrival.
ATHA Energy Corp (CSE:SASK, OTCQB:SASKF) said it has completed its previously announced private placement financing, raising gross proceeds of approximately C$23,494,532.20 by issuing a combination of charitable federal flow-through common shares, charitable Saskatchewan flow-through shares, and ATHA subscription receipts.
The mineral exploration company said net proceeds of the offering will be used to advance exploration and development of ATHA’s uranium assets, as well as for working capital and general corporate purposes.
Sidney Resources Corporation (OTC:SDRC) is coming off a strong year of development at its Idaho mineral assets, but the company has even more ambitious plans for 2024.
Nestled in the heart of Idaho, the company's Lucky Ben project showcases remarkable gold grades, exceeding 131 grams per tonne, setting it apart from conventional endeavors. However, Sidney goes beyond traditional mining practices, incorporating a visionary approach. Its commitment to cleaner processes extends to a strategic partnership with solar panel company Xexus Greene Energy. This holistic perspective envisions a complete supply chain, from ore extraction to powering green energies.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has reported gross profit of almost £10 million at the half-year stage following its acquisition of Suni Resources in April.
Tirupati netted income of £9.7 million from the takeover of Suni, the company reported on Thursday, alongside revenue of £3.1 million for the six months to September 2023.
Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it had shipped 22,000 tonnes of its Quintuple Zero Green Lithium concentrate to Glencore at the Port of Vitoria in Brazil.
The lithium company's fifth shipment helps to position it as a key player in sustainable lithium production.
Shares in Tribe Technology PLC (AIM:TRYB) fell 10% on Thursday morning after the manufacturer announced the shipment of its first generation autonomous TTDS 700 GC drill rig would be delayed.
This is “due to unanticipated technical issues [...] identified in the final product integration stages and related supply chain issues”, the firm said in an update.
Zanaga Iron Ore Co Ltd (AIM:ZIOC) shares climbed 26% on Thursday, as the company unveiled an initial agreement to power its Republic of Congo project
A memorandum of understanding has been signed with China Machinery Engineering Corporation (CMEC) relating to hydroelectric power solutions for the iron ore project, Zanaga announced.
Shares in Corcel PLC (LSE:CRCL) jumped over 12% on Thursday morning as the company reported positive drilling results from its part-owned site in Angola.
Drilling in the TO-14 well, which is part of the onshore KON-11 block, confirmed oil throughout, the company said in an update.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) has reported a doubling of production during the first half of its financial year, ended 30 September 2023, albeit financially the company’s performance was hampered by prevailing economic conditions.
The company produced 204,998 tons of clean metallurgical coal in the half year, up 105% on 2022, with the completion of 18 train shipments, up 125% - included in the shipments was a delivery to Arcelor Mittal, one of the largest steel producers in the world.
Asiamet Resources Ltd (AIM:ARS, OTC:KMGLF) chief executive Darryn McClelland told investors in a year-end project update that 2023 has seen a new baseline for the BKM copper heap leach project.
The key achievement in the year was a fully updated feasibility study which has put the company on a path to deliver its main strategic goal – to establish a copper mine as part of a larger energy transition metals business in the Asian region.
PYX Resources Ltd (LSE:PYX, NSX:PYX) has laid out expectations that the price of zircon will hold firm in the new year as demand continues to outdo supply.
Such market imbalance has meant zircon remained above US$2,200 per tonne for much of this year, the producer pointed out in a shareholder update, marking an increase on historic levels.
Great Southern Copper PLC (LSE:GSCU) chief executive Sam Garrett cheered a “very positive first half” as the explorer filed its interim results covering the six-month period ended 30 September 2023.
“We continue to make strong progress across our prospects and in particular at Especularita where our exploration campaigns have delivered encouraging results and helped to delineate promising prospects for further exploration,” he said in a statement.
Cloudbreak Discovery PLC (LSE:CDL, OTC:CDBDF) has successfully concluded agreements with its former directors and management following a comprehensive review conducted by the board after the resignation of Kyler Hardy as chief executive and the appointment of Andrew Male as interim chief executive.
The group resolved an existing liability of £907,710 with former management and their related consulting companies Cronin Capital and Cronin Services in relation to outstanding management charges incurred over the past two years.
The US Securities and Exchange Commission (SEC) has approved European Lithium Ltd (ASX:EUR, OTCQB:EULIF)’s proposed merger to combine the company’s Wolfsberg Lithium Project in Austria with Sizzle under a new lithium exploration and development company named 'Critical Metals Corp.' to be listed on the NASDAQ under the symbol 'CRML'.
Following completion of the transaction, European Lithium will be issued US$750 million worth of ordinary shares in CRML.
While Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF) encountered several challenges in 2023, the company is in a strong operational and financial position moving into 2024 as it aims to become a fully independent end-to-end producer of dry yellowcake.
Notably, the company adjusted its production strategy by bringing forward the planned incorporation of circuits to treat its loaded resins in-house. This strategic move is expected to expedite production ramp-up, offering a significant competitive edge in the current uranium market.
Resource stocks are, by nature, cyclical due to supply and demand dynamics that drive the underlying commodity price. Thus, buying when these equities are most unloved by the market has, in general, paid off for investors historically over the longer term.
But is there a better time of the year to buy these stocks? ‘Sell in May and go away’ is an old stock market adage that has, historically, rang true for some resource stocks.
Silver North Resources (TSX-V:SNAG, OTCQB:TARSF) said it has completed the second and final tranche of its previously announced private placement financing, raising a total of C$1 million including C$460,000 from the sale of flow through (FT) shares, at $0.20 per FT share, and C$540,000 from the sale of non-FT units at a price of $0.20 per unit.
A total of 5 million Silver North shares and 1.35 million warrants were issued in the private placement.
A spike in deal-making dominated the winners' list in the AIM 100 as investors swooped to pick up some well-known UK names at knockdown prices.
The sweetest deal of all saw Hotel Chocolat Group PLC (AIM:HOTC) bought by Mars for £534 million, helping shares in the up-market chocolatier to soar 120% during 2023.
Infinity Stone Ventures Corp (CSE:GEMS, OTC:GEMSF) announced that it has entered into a mining claims purchase agreement with Boivin Exploration for the Tesla iron project located in Quebec, Canada.
It also announced the appointment of Glenn Giles as interim CEO and Jeremy Close as interim CFO. Both have also been appointed as directors of the company.
Awalé Resources Ltd (TSX-V:ARIC) announced that it has commenced a new 4,000-metre diamond drill program at its Odienné copper-gold joint venture project with Newmont Ventures Limited, a wholly owned subsidiary of Newmont Mining Corporation of Canada Ltd (TSX:NGT), located in West Africa.
Awalé also said it has secured another US$750,000 in joint venture funding from Newmont bringing its 2023 exploration budget to US$3.75 million.
Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) announced that it has signed a definitive option agreement with Mamba Exploration Ltd (ASX:M24) for the Canary uranium project in the Athabasca Basin, Saskatchewan.
The company said that the optionee can earn a 75% interest over three years in the project by exercising the option in three stages.
Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF) announced that it has completed the final property payments required for 100% ownership of the Virgin Arm and Deep Cove claim blocks at the Toogood gold project located in Newfoundland, Canada.
The company also said that it has amended the terms of its previously announced Toogood Option Agreement with Storm Exploration.
Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF) announced that Nuton LLC, a subsidiary of Rio Tinto, has formally opted into Stage 2b of the option to earn-in agreement, a significant step forward in the development of the Yerington copper project.
As part of the agreement inked in October 2023, Stage 2b entails full funding of $10 million dedicated to completing a pre-feasibility study for Yerington. The study is projected to conclude in the third quarter of 2024.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) has agreed a US$20 million interim funding package provided by Orion, Glencore and La Mancha, sending its shares up 20%.
In a statement, Horizonte said the funding package is expected to provide liquidity while a full funding package is worked out for its Araguaia nickel project in Brazil.
Accomplished company director and finance professional Wayne Zekulich will join Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) as non-executive chair from February 1, 2024.
Zekulich has held several chief financial officer roles and is currently the chairman of Pantoro Ltd and a board member of Western Australian Treasury Corporation.