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ANGLO Australian (ASX: AAR) has kicked off 2020 with a bang, finalising a capital raising of $550,000, resuming works at the Mandilla gold project and restructuring the management team in order to review and evaluate all its projects. The $550,000 capital raising was completed through the placement of about 5.3m shares at 10.5c per share. At 10.5c, the issue price represented a premium of 12.9pc to the last price the shares were traded at, prior to the company entering a trading halt on January 8. The company issued the maximum number of shares that it could within the existing placement capacity, and said that the proceeds of the share placement would be used to kickstart work programs at the Mandilla...

ASX-LISTED lithium company Sayona Mining is to bid for the North American lithium mine in Québec, Canada, after securing $2.75m of funding from a New York-based investor. Sayona Mining said the funding injection reflects increased investor confidence in the lithium sector. In a statement, the company said: “The new investment follows an upturn in the lithium sector since the start of 2020, and as Sayona builds momentum in its bid for the NAL mine, which it aims to make the centrepiece of a lithium hub comprising a concentrator supplied by two or potentially three ore bodies.” Sayona said it will use the funds from Obsidian Global to press ahead with its bid for NAL, and to advance its flagship Authier...

JUNIOR explorer Aldoro Resources (ASX: ARN) has commenced the maiden drilling at the Penny South project in the Murchison region of WA. This preliminary 5000m aircore campaign will test the magnetic corridor, which has been interpreted as the strike extension of the Penny West Shear by Aldoro’s recent targeting work, which identified seven areas over a 2.5km strike extension of magnetic low greenstone and granodiorite assemblage. The program at Penny South will consist of about 100 holes at 100m x 25m spacing along 2km of strike, with sample analysis for gold and multi-element geochemistry for pathfinder elements known to be associated with mineralisation at the neighbouring Penny West and Penny North deposits. Aldoro managing director Caedmon Marriot said that the...

GULF Manganese (ASX: GMC) has inked a deal securing necessary funds to construct and commission the first of two smelters at the Kuapang smelting hub in West Timor, Indonesia. The company executed a binding term sheet for the establishment of a €52m structured loan facility with Glacier International Depository Ltd, Legal and General Investment Management Limited and HSBC Bank The loan, which is presently being finalised, is expected to be received by the end of January. Gulf Manganese will be fully funded to complete the construction and commissioning of the smelter, which currently sits at 60pc complete and requires a further six to seven months’ work and about US$13m capital. The loan facility would also provide the company with the...

INDEPENDENCE Group has beaten its forecasts for copper, nickel and gold production for the half-year ended December 2019 as a result of higher output from its Nova and Tropicana mines in Western Australia. The company said gold output from Tropicana was 257,250oz in the six months ended December 2019, exceeding Independence Group’s guidance of 225,000 to 250,000oz for the period. Independence Group’s 30pc mine share from Tropicana was 77,550oz which was just over the company’s guidance figure of 75,000oz. Independent Group chief executive Peter Bradford said the company was expecting the Nova mine to maintain its production in line with company guidance as it focuses on delivering cost improvements and operational efficiencies. “At Tropicana, we also expect to produce within...

GOLD has peaked at a near seven-year high of US$1579.72 after the US launched a deadly attack against Iranian military leader Major General Qassem Soleimani. The destabilising effect on the international market was swift, and was the latest in a string of contributing factors that has continued to drive investors to gold as a safe-haven metal to protect against market downturn. The price spike has come after a momentary lapse in gold’s momentum in Q4 2019, surging to its highest price since April 2013 at US$1579.72. The assassination of General Soleimani has escalated international fears that tensions between Washington and Tehran could spill over into a new war in the Middle East. The targeted attack was given the go-ahead by...

A 793C haul truck rumbling down Hannan Street in Kalgoorlie-Boulder provided a fitting, awe-inspiring finale to the 20th annual St Barbara’s parade. The annual event draws in big crowds each year to honour the patron saint of mining, St Barbara, as well as the mining sector as a whole. The Gold Industry Group (GIG) brought West Coast Fever netball stars to the parade, alongside other GIG members Northern Star Resources, Gold Fields, SMS Mining Services, Saracen Mineral Holdings, Norton Gold Fields and Evolution Mining. KCGM displayed a NAIDOC-themed haul truck, with truck tray artwork commissioned by local indigenous artist Jason Dimer and his family earlier this year. Other entries included a 992K loader, force water cart and a newly-purchased Mining...

AUSTRALIAN company Sodexo has partnered with plant-based meat innovator Beyond Meat to deliver sustainable protein alternatives to miners and corporate workers. Sodexo delivers a unique array of more than 100 integrated services lines including catering, facilities management, concierge services, security, asset maintenance and hospitality services in sectors such as energy and resources, defence, healthcare and seniors, and education. Following demand from mine workers, Sodexo will deliver Beyond Meat’s Beyond Burger, a non-beef patty, to several sites as part of a three-month trial. The Beyond Burger patty requires 99pc less water and 93pc less land than its beef equivalent, according to a recent Beyond Meat-commissioned study by the Center for Sustainable Systems at University of Michigan. The burger also generates 90pc...

LITHIUM Australia has secured up to $6.3m funding from New York-based institutional fund manager, The Lind Global Macro Fund, under a convertible security and share purchase funding agreement. The initial $3m investment and a $100,000 share placement will help fund growth of the Soluna Australia battery business, commercialisation of the company’s cathode business (owned by its subsidiary VSPC) and growth of the company’s battery recycling business (owned by its subsidiary Envirostream Australia) and costs of the funding, as well as general working capital. Lithium Australia also has the option to repay the convertible security in cash, subject to Lind Partners’ buyback conversion rights for up to 30pc of the outstanding Face Value. Lind managing director Jeff Easton said the fund...

SOON-TO-BE producer Core Lithium has announced the strategic acquisition of the Walanbanba Lithium Project from Todd River Resources – adjacent to its existing Anningie and Barrow Creek (ABC) project in the Northern Territory. The ABC Lithium Project comprises large-scale lithium rich pegmatite fields and historic tin-tantalum mining districts with established “LCT” granite sources - similar to Core’s Finniss Lithium Project and various WA lithium pegmatite projects. Core’s managing director Stephen Biggins said the company is positioning itself, and the NT, to be an important long-term lithium supplier in Northern Australia. “Core’s recent discussions with a number of large lithium consumers at various levels within the electric vehicle and lithium battery supply chain suggest that world needs to heavily invest in...

KIRKLAND Lake Gold has announced new, high-grade results from both its Fosterville Operation in Victoria, and Canadian-based Macassa operations. Recent surface drilling at Robins Hill, Fosterville, has confirmed an extended mineralisation down-plunge of the existing mineral resource, outside of the current resource. Key drilling results that confirmed mineralisation at depth were 3.7mat 24.5g/t gold, including 1m at 82.3g/t gold; and 8.8m at 11.7g/t gold, including 0.5m at 81.7 g/t gold. Kirkland Lake Gold chief executive Tony Makuch said that the company believed there were “more Fostervilles at Fosterville” for a long time, and that Robbin’s Hill had emerged “clearly” as a second potential mining front to provide feed to the Fosterville mill. “Based on current drilling, we have already identified...