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Star Diamonds case against Rio Tinto allowed to proceed

By: Mariaan Webb     13th August 2020 Canada-based Star Diamond has made headway in its case to take joint venture (JV) partner Rio Tinto to court over its purported exercise of four options under an option and JV agreement relating to the Star-Orion South project, in Saskatchewan. This week, a Court of Queen’s Bench for... 

Horizon raises A$16m for exploration work

By: Esmarie Iannucci     13th August 2020 ASX-listed Horizon Minerals will raise A$16.1-million to accelerate exploration work and mine and mill studies at its Boorara project, in Western Australia. The company on Thursday announced that it had received binding commitments for the placement of 115-million shares, at a price of 14c each,... 

Gascoyne unveils recapitalisation plans

By: Esmarie Iannucci     13th August 2020 Gold miner Gascoyne Resources has unveiled a A$125-million funding package to recapitalize the company. The company on Thursday announced that it will undertake a fully underwritten institutional placement and a two-for-one accelerated pro-rata non-renounceable entitlement offer to raise an... 

US Gold gains ‘industry leading’ shareholders with exploration project buy

By: Mariaan Webb     13th August 2020 Gold exploration and development company US Gold has closed the acquisition of Nevada-based Northern Panther Resource Corporation in an all-share transaction pursuant to a merger agreement. Northern Panther's principal asset is the Challis Gold exploration project – an exploration project in... 

Alto secures bridging facility

By: Esmarie Iannucci     11th August 2020 ASX-listed Alto Metals has secured an additional A$1-million short-term, unsecured bridge loan facility from shareholder Harvest Lane Asset Management. Alto said on Tuesday that the funding would allow the company to continue with its exploration work and to meet working capital requirements... 

Solaris shares surge 38% on first assay results

By: Mariaan Webb     11th August 2020 Copper company Solaris Resources on Monday reported assay results for the first hole from the ongoing 40 000 m diamond drill programme at its Warintza project, in south-east Ecuador, sending its share price up 38%. This is the first drill hole completed on the Warintza project in nearly 20 years. 

Xanadu raises cash for Mongolian exploration

By: Esmarie Iannucci     10th August 2020 Metals explorer Xanadu Mines is hoping to raise A$12-million to fund exploration work at its flagship Kharmagtai copper/gold project, in Mongolia. Xanadu on Monday announced that it would issue 266.7-million shares, at a price of 4.5c each, in two tranches. 

Syngas ups its offer for Jumbuck

By: Esmarie Iannucci     10th August 2020 ASX-listed Syngas has agreed to increase its offer price for the Jumbuck gold project, in Western Australia, from A$2-million to A$2.25-million, after facing a slue of competition for the asset. A tug-of-war emerged for the asset after owner Tyranna Resources received offers from both ASX-listed... 

Gas to assist in Covid recovery - report

By: Esmarie Iannucci     10th August 2020 – The global gas industry is expected to play a ‘vital role’ in economic recovery post Covid-19, and in a cleaner energy future, a new report by the International Gas Union (IGU) has found. In its Global Gas Report 2020, the IGU noted that after growing by more than 2% in 2019, global gas use is... 

GoviEx completes C$5m private placement to fund exploration

By: Simone Liedtke     7th August 2020 TSX-V-listed GoviEx Uranium has closed the last tranche of a nonbrokered private placement offering of over 35.7-million units for gross proceeds of about C$5-million. The net proceeds from the private placement will be used to fund continued exploration and development activities on three... 

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