Gold has demonstrated its defensive qualities by rising approximately 2.8% since the US$/JPY fell below 160 on 11 July.
However, during the recent market turbulence, the yellow metal suffered a sharp decline, with a high-to-low drop nearing 5%, notes Aussie bank Macquarie.
Tirupati Graphite started full-scale mining operations from the Vatomina operation in Madagascar on 28 July with steady state production from 6 August, the group said in a statement.
The current run rate is 165 tons per week of high-grade graphite, the equivalent of just 8,000 tons per year or around 97% capacity. The head grade is around 3%.
Brokerage Stifel has initiated coverage of Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) with a buy rating and a 65p price target.
Analysts cited the development of Sovereign’s Kasiya project in central Malawi as key to the company’s investment thesis.
NextSource Materials Inc. (TSX:NEXT, OTCQB:NSRCF) said it has appointed Dr. Tilo Hauke as executive vice president of downstream operations.
Hauke brings extensive experience from his previous role as EVP of Supply Chain Management at FREYR Battery and his 20-year tenure at SGL Carbon SE, where he held senior leadership positions in fuel cell components and technology innovation.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)'s irst-half numbers were strong and ahead of forecasts, says Panmure Liberum, reflecting a good production period at the 64%-owned Blanket mine in Zimbabwe.
Meanwhile, Caledonia is now expecting to deliver the new feasibility study on the Bilboes Sulphide project in the first quarter of 2025, something that can be transformational for the group.
Strong gold prices supported a surge in Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s gross revenues in the second quarter to $50.1 million, a substantial increase from $37 million in the same period last year.
Gross profit more than doubled to $22.9 million, reflecting both the increased revenue and lower production costs.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has started an infill drilling programme at its Kasiya Rutile-Graphite Project in Malawi.
It will focus on the southern part of Kasiya, which is planned to provide ore for the first eight years of production with the aim of upgrading the resource estimate from the 'indicated' to 'measured' category and converting ore reserves from 'probable' to proven 'status'.
Sovereign Metals Ltd (ASX:SVM, OTC:SVMLF, AIM:SVML) has started infill drilling at the Kasiya Rutile-Graphite Project in Malawi focused on the southern section and aimed at upgrading mineral resources and supporting ongoing technical studies.
The aircore drilling, supported by push tube/diamond core and hand auger drilling, aims to upgrade the mineral resource estimate (MRE) at southern Kasiya from the indicated to the measured category, which will allow the conversion of ore reserves from the probable to the proven category.
Kodal Minerals PLC (AIM:KOD) CEO Bernard Aylward discusses the latest update on the company's Bougouni Lithium Project in Southern Mali with Proactive's Stephen Gunnion.
