ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia, is pleased to announce an update on its gold and rare earths projects in Queensland and Victoria.

·    Ongoing discussions with three Australia-domiciled public and private companies in relation to the potential sale of ECR's A$75 million of tax losses

·    Rock chip results from Lolworth Project, including Butterfly Creek, Uncle Terry and Gorge Creek expected in the coming weeks

·    Partnership with the Geological Survey of Queensland ("GSQ") to further investigate the critical minerals potential at the Lolworth Project

·    Maiden diamond drilling program at the Tambo Project to commence this month

Further to the Company's announcement of 2 July 2024, ECR, through its engagement with Argonaut PCF Ltd (''Argonaut''), is currently in discussions with three Australia-domiciled public and private companies in relation to the potential sale of its A$75 million of tax losses. Each company has signed a non-disclosure agreement.

ECR's tax losses are held within its wholly owned subsidiary, Mercator Gold Australia Pty Ltd, and were incurred during the period from 2006 to date. Any sale of the tax losses would be coupled with a disposal of certain non-core assets of the Company.  Whilst no guarantee can be given as to any potential sale or agreement being reached or as to the timing or terms, the board of directors of ECR (the "Board" or the "Directors") continues to be encouraged by the considerable interest shown in this potentially valuable asset.

https://www.share-talk.com/ecr-minerals-plc-aimecr-gold-rare-earths-projects-update-in-queensland-victoria/

Zak Mir talks to Mark Routh, CEO of Prospex Energy, as the AIM-quoted investment company focused on European gas and power projects announced that it has qualified to apply for onshore open acreage hydrocarbon exploration licences in Poland.

Expansion into Poland: Prospex Energy has spent about a year preparing to apply for licenses in Poland, demonstrating both financial and technical capability.

European Growth Strategy: The company is not seeking "domination," but rather expansion, aiming to grow into a significant European gas-producing company.

Current Projects: Prospex Energy is already operating in Spain and Italy, and Poland is viewed as a long-term growth project, with drilling expected in 2–3 years.

Self-Funding Plan: As their projects in Spain and Italy develop and increase production, they hope to be self-funded for future expansions into Poland.

Market Perspective: While there may be concerns about taking on too much, Routh is confident in the company’s strategy and the ability to attract potential partners.

“After several months of preparation, I am very pleased to announce that Prospex is applying for licences to search for and develop onshore natural gas in a third European nation.  Poland is well known for its hydrocarbon resources and has a regulatory regime which is supportive of natural gas investment with a track record in quickly approving permits for hydrocarbon exploitation activities as the nation focusses on its security of energy supply.

“There are several reasons for choosing to expand into Poland, aside from the favourable regulatory environment and prospective hydrocarbons, one of them being our experience in country.  The Prospex senior team has valuable prior exploration experience in Poland and is very familiar with the regional geology and importantly, the regulatory environment.  During the operational phase in 2016 Prospex met all local regulatory commitments, which puts the Company in a good position to leverage the experience and relationships gained at that time.

“The Prospex technical team has identified attractive onshore areas for the application and we hope to be able to announce a positive outcome from the applications in Q1 2025.

“The Company’s strategy is to add additional geographic reach to the existing portfolio of producing assets in a cost-effective manner.  The Company’s entry into Poland has been financed entirely from production income.

“I look forward to updating shareholders on progress with these applications in the coming months.”

Jason Brewer flowed into London from Nairobi, Kenya, this week for meetings with broker houses, investors, and company representatives, not forgetting his flight today across to Dublin to attend the Unicorn Mineral Resources annual general meeting.

Share Talk asked Jason to call into the London SE1 studio, where Zak Mir was hosting proceedings. Here is the full interview. We have not edited or removed any of the questions/answers. Holders and investors of Marula Mining should be aware that the company’s directors are no longer in a closed period.

Jason Brewer, a director involved with multiple junior mining companies discusses various aspects of the mining industry and companies he’s associated with, particularly focusing on Marula Mining, Neo Energy Metals, and Unicorn Mineral Resources.

Key highlights from the initial part of the video:

The interview continues with Jason Brewer discussing the unique position of his companies, particularly focusing on funding and strategic development:

Secured Funding: Jason highlights that his companies have eliminated the uncertainty of funding by securing investments early on. This allows them to focus on project delivery without the need for frequent fundraising, which is a common challenge for junior mining companies. He mentions how some other companies rely on heavily discounted placements, which they avoid through strategic planning.

Market Perception: Despite securing funding, there remains skepticism in the market, with investors frequently asking about the next fundraising round. Jason emphasizes that securing a strategic partner allows them to focus on project development in a more streamlined manner without interruptions.

Unicorn Mineral Resources: Unicorn is a standard-listed company that has been on the market for just over a year. Jason’s involvement has brought a focus on African projects, which are aligned with Unicorn’s base metals strategy. He mentions a general meeting and ongoing due diligence on a series of projects in Africa, expressing excitement for the company’s future.

Marula Mining: Jason talks about Marula, a company focused on battery metals in East and Southern Africa. He mentions several operations, including manganese in East Africa, copper in Tanzania, and lithium. The company is pushing forward with projects like the Kify plant for manganese, a copper mining site in Tanzania, and plans for a large Heap Leach operation by 2025.

https://www.share-talk.com/jason-brewer-london-se1-studio-interview-highlighting-maru-neo-umr-more/

Mike Whitlow, Managing Director, said: “It has been a highly productive year for ECR, with significant progress made across our portfolio of gold and rare earths projects, and exploration activities are set to accelerate even further. We consider that we’re on the verge of identifying the key sources of gold at Lolworth, with a number of high-priority drill targets soon to be lined up for testing. 

This marks a pivotal step forward as we look to unlock the project’s full potential. At the Blue Mountain Project, we are eagerly anticipating the results from our enhanced gold recovery process which will be critical in guiding us towards the potential commercial options for gold extraction. 

In Victoria, our focus remains firmly on drilling. We’re set to commence drilling at the Tambo Project in the coming weeks and work is underway to further explore the highly prospective Antimony potential at Bailieston. With the recent surge in this critical mineral’s price, we believe that the Bailieston project’s Antimony potential may become increasingly significant.”

https://www.share-talk.com/ecr-minerals-plc-aimecr-up-to-75-6g-t-gold-rock-chip-identified-at-lolworth-queensland/

Zak Mir talks to Rupert Verco, CEO of Cobra Resources, as the mineral exploration and development company advancing a potentially world-class ionic Rare Earth Elements discovery at its Boland Project in South Australia announced the results from ongoing metallurgical studies. This included exceptionally high recoveries of up to 82% of high-value rare earths.

Key Points:

High Recovery Rates: Cobra Resources has achieved exceptionally high recoveries of rare earth elements, particularly magnet and heavy rare earths, with up to 82% recovery from samples containing 0.5% total rare earth oxides. These results are promising due to the low levels of impurities, leading to reduced processing costs.

Market Understanding and Challenges: Despite strong results, the market may not fully understand the significance of the REEs or may be impacted by broader market conditions. The company has faced challenges in raising capital, but maintains strong support from major shareholders, minimizing dilution.

Scalability and Environmental Impact: The project utilizes a unique geological setting favorable for "in-situ recovery" (ISR), a process involving injecting and extracting a solution to mobilize rare earths without moving ore, resulting in low environmental impact and cost. This method is well-established in uranium mining and considered scalable for REEs.

Market and Strategic Positioning: Demand for heavy rare earths remains high, with current reliance on supply from China and some emerging sources like Brazil. Cobra aims to produce rare earths responsibly and cost-competitively, contributing to the West's efforts to reduce dependence on China for critical minerals necessary for energy efficiency and decarbonization.

Future Plans and Commercial Options: Cobra is exploring options including joint ventures or sales while focusing on proving up their resource to ensure it is marketable and economically viable.

The discussion highlights Cobra Resources' strategic approach to rare earth production, leveraging unique geological advantages, scalable processes, and positioning in a market with growing demand for critical minerals.

https://www.share-talk.com/zak-mir-talks-to-rupert-verco-ceo-of-cobra-resources-achieved-exceptionally-high-recoveries-of-rare-earth-elements/

Zak Mir talks to Jonathan Owen, CEO of Metals One, after the recent announcement that the company which is advancing strategic minerals projects in Finland and Norway, said that the Company’s Råna Project partner and operator, Kingsrose Mining Limited, has entered into a service agreement with Arctic Drilling AS, for the commencement of helicopter supported core drilling at the Rånbogen prospect on the Råna Project in August 2024.

The program aims to prove two high-priority targets by September, with results expected in October.

The Rana Project, a former successful mining site, holds promising geological potential near the base of the intrusion.

Successful drilling could lead to extensive resource definition and potential development, moving from exploration to a more de-risked development phase. Kingsrose Mining has invested over $3 million and is approaching a majority shareholding in the joint venture, demonstrating a strong commitment to the project’s prospects.

Metals One benefits from a free carry on the project, relying on Kings Rose’s expertise and operational leadership.

·    Drilling is anticipated to complete in early September 2024, with assay results expected in October to November 2024

·    Drilling is focused on two targets identified last year through geophysics

·      Compelling targets comprise shallow, highly conductive electromagnetic (“EM”) anomalies immediately down dip from mineralised nickel-copper-cobalt massive sulphide at surface (*see Figure 2)

·    Completion of a minimum 700m drilling will satisfy the drilling milestones under Metals One (via Scandinavian Resource Holdings Pty Ltd’s) Transaction Implementation Agreement with Kingsrose and Global Energy Metals (*see Kingsrose’s ASX announcement dated 18 January 2023)

·    Arctic Drilling is a Norwegian owned and domiciled company based out of Finnmark County, Norway, bringing extensive experience of operating in arctic regions with local knowledge

“It’s great news that Kingsrose is ready to begin drilling again at the Råna Project. This strategic work programme is aimed at testing two compelling anomalies characterised by highly conductive EM responses down dip of nickel-copper-cobalt mineralised massive sulphide in outcrop, which were identified during last year’s core drilling and are located within a previously undrilled area.

We look forward to updating shareholders on the progress at the Råna Project as Kingsrose continues to build on the high-grade results from last year’s drilling to verify the largely underexplored Råna intrusion’s scale potential.”

Prospex Energy (AIM: PXEN), an investor in European gas and power projects, announced that Spanish regulatory authorities have granted a 10-year extension to the El Romeral 1, 2, and 3 natural gas production concessions, owned by Tarba Energia. Prospex holds a 49% interest in El Romeral through its investment in Tarba.

The royal decree, signed on July 24, 2024, permits the Spanish Ministry for Ecological Transition and the Demographic Challenge (MITECO) to extend the El Romeral natural gas concessions for 10 years, the maximum allowable term.

This extension ensures the supply of electricity to the Spanish grid from the El Romeral gas facility and power plant until at least July 2034, with a potential further extension to 2044.

El Romeral is currently operating at 30% capacity (2.7 MW) as Tarba awaits permits to drill five additional infill wells on the concessions to boost production. Moreover, an adjacent solar project named "Helios" is expected to add 5 MW, utilizing shared infrastructure with the gas facility.

Commenting on the development, Prospex's CEO Mark Routh said, "The official extension of the El Romeral production concessions for the maximum allowable term of ten years is a very welcome step by the Spanish regulatory authorities. It is also an important official acknowledgment by the Spanish state of the crucial role natural gas will continue to play in the nation's energy security and the ecological transition process."

European Green Transition PLC (AIM: EGT) CEO Aiden Lavelle and CFO Jack Kelly take Share Talk Zak Mir through the latest developments at the Limni copper project in Cyprus.

Lavelle announced promising results from the initial due diligence phase of the project. The company collected 68 samples, revealing acid-soluble copper concentrations ranging from 0.4% to 0.9%. This finding indicates that the mine waters are leaching copper from oxidized tailings and re-precipitating it during the dry season, confirming the potential for copper recovery.

Additionally, the company identified significant gold potential, with rock samples showing grades up to 1.5 grams per ton. Lavelle noted that this gold likely went unnoticed during the original mining operations in the 1960s and 70s.

These findings bolster the company’s confidence to proceed with further due diligence and low-cost sampling to validate the copper recovery model. Lavelle emphasized that Cyprus provides a cost-effective environment for advancing the project towards potential near-term revenue generation.

·    The first stage of diligence on the Cyprus Copper Tailings Recycling Project at the past-producing Limni copper mine has delivered encouraging results across 68 samples.

·    Acid soluble copper ranging from 0.41% to 0.92% found in crusts clearly demonstrates the presence of copper in water at surface.

·    Results also indicate potential upside for gold, with samples of up to 1.48 g/t Au recorded from waste near the edge of the pit.

·    EGT will now progress to the next stage of diligence as part of its option agreement (as announced on 29 April 2024) to develop a copper tailings recycling project through low-cost water treatment and tailings development, with subsequent potential for solar development.

“The first stage of diligence at the Limni site has yielded encouraging results, indicating the potential for recovering a meaningful amount of copper, in addition to newly identified gold potential at the site which offers further upside for the project. Dry sulphate crust samples returned grades of acid-soluble copper ranging from 0.41% Cu to 0.92% Cu and averaging 0.756% Cu. We were also pleased to find indications of gold in rock chip samples taken from the pit edge, with results up to 1.48 g/t providing additional upside value.

“As a next step, we will now progress to the next stage of diligence as part of our 12-month option agreement. This will include further rock sampling, water sampling, and analysis of the potential for solar development at the site.”

https://www.share-talk.com/european-green-transition-plc-aimegt-operational-update-from-ceo-aiden-lavelle-cfo-jack-kelly/

The helium exploration and development company focused on helium deposits within the ‘Montana Helium Fairway’, after the company announced the commencement of construction work on an access road and drill pad, at the Ingomar Dome project area in Montana.

The latest Oak Securities note on Helix Exploration: Oak Securities – Helix Exploration (HEX) – Rudyard Acquisition (FINAL)

·    Construction commenced of 0.75-mile access road and drill pad at Ingomar

·    Two well Q3 2024 drilling program: Clink #1 well at Ingomar and Darwin #1 well at Rudyard

·    Drilling of Clink #1 well to commence following completion of civils

·  Combined budget cost of the two well programmes are estimated at approximately $4.1m which demonstrates the potential for the Company to operate cost-effective exploration and development within the state of Montana

Construction on the access road and drill pad has commenced at the Clink #1 location within the Ingomar Dome Project.  The access road has been surveyed at 0.75 miles, allowing Civils work to be completed relatively quickly over a short development distance. 

Following completion of Civils the Company targets to commence drilling operations in early-August:

·    Mobilisation and rig-up is anticipated to take approx. 1 week

·    Drilling is anticipated to take approx. 3-4 weeks

·    Wireline and well completion is anticipated to take approx. 1 week

·    Flow testing and appraisal is anticipated to take approx. 4 weeks

The Company will keep investors updated as drilling progresses via RNS, potentially including updates on commencement of drilling, significant helium gas shows in drilling mud, wireline results, initial flow test results and full flow test results.

Quoted costs for drilling at Ingomar and Rudyard have come in below budget:

The quoted cost for drilling and appraising the Clink #1 well at Ingomar is approximately $2,130,000 including extended well test but excluding contingencies.  Significant savings were achieved using local suppliers from within the state of Montana, reducing mobilisation costs and standing-time charges.

The estimated cost for drilling and appraising the Darwin #1 well at Rudyard is approximately $1,980,000 including extended well test but excluding contingencies.  The cost of drilling at Rudyard is lower than Ingomar due to the shallower target depth at ~5,500ft at Rudyard compared to ~8,000ft at Ingomar.

The Company benefits from relatively low drilling costs in Montana compared with other jurisdictions as well as from savings made by the Company in vendor selection. Expected savings to be achieved will help maintain adequate funding for planned development activities after completing the two-well Q3 2024 drilling campaign. These activities may include project pipeline growth, detailed plant engineering and construction financing.

Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the 'Montana Helium Fairway'. Founded by industry experts with extensive experience of helium systems in the US, the Company's assets comprise of 52 leases over the Ingomar Dome; a large closure of 16,512 acres with P50 unrisked prospective helium resource of 2.3Bcf and upside of 6.7 billion cubic feet. Historic drilling and/or testing has identified gas in all target reservoir horizons.

Helix Exploration will focus on a drilling campaign and early production at the Montana Ingomar Dome Project.  An aggressive development timeline will see a drilling campaign targeted for Q3 2024 and first helium production targeted for Q4 2025.  Helix is committed to open and transparent communication with investors and the wider market as the project progresses through development.

The Company's Admission Document, and other information required pursuant to AIM Rule 26, is available on the Company's website at https://www.helixexploration.com/.

Kavango Resources (LON: KAV), the Southern Africa-focused metals exploration company, announced the successful completion of drilling the first high-priority target at the Karakubis Copper Project in Botswana’s Kalahari Copper Belt. 

Field analysis of drill cores taken from this target confirms the presence of a copper-silver mineralising system at Karakubis, as well as further indicators of structural trap sites. KAV said it started drilling at Karakubis to confirm the presence of a copper-silver mineralising system. Results from its first target have surpassed its expectations.

This validates the geological model and confirms the potential to discover a large-scale copper/silver deposit.

Conclusion: Early stages of the drilling at Karakubis have helped to validate the exploration model and we look forward to detailed assay results from the early drilling and further results as the rest of the 5,000m programme continues.

“We started drilling at Karakubis to confirm the presence of a copper-silver mineralising system. Results from our first target have surpassed our expectations. The validate our geological model and confirm the potential to discover a large-scale copper/silver deposit.

Our original goal in the drill campaign was to prove the presence of a copper mineralising system and structural regional traps within Karakubis. We’ve met this objective within our first 500m. This speaks to our team’s meticulous preparations prior to drilling. I would like to thank everyone involved for all they have contributed.

The core from the two holes validates the interpretations we’ve applied to modelling the Kalahari Copper Belt (KCB). In particular, the core highlights rock sequences consistent with and comparable to descriptions of lower D’Kar Formation sequences to the west in Namibia and along strike towards Sandfire Resources’ (ASX:SFR) Motheo Mine to the northeast. The contact position between the D’Kar Formation and Ngwako Pan Formation is one of the main regional controls for large-scale copper/silver deposits and will be tested by other holes in the programme.

The intersection of pathfinder elements and pyrite, along with copper values in our pXRF readings, provides an encouraging indicator of the presence of structural trap sites. Such traps have enabled the accumulation of economic copper deposits elsewhere in the KCB.

Kavango looks forward to building on these results as our drilling continues. This is our most ambitious drill programme to date. Preparations took two years to maximise our chances of discovery success.

Now that we have received such strong confirmation that our modelling appears to be correct, we move forward in eager anticipation. With a further 4,300m of drilling planned over our remaining 14 high-priority targets, we believe our chances of discovery success have increased significantly.”

Kavango’s exploration and drilling strategy at Karakubis is to validate the interpretations made to date from modelling of geological and geophysical data and to establish the stratigraphic position in the system, verify the presence of structural trap sites and confirm the presence of a copper/silver mineralising system through identification of pathfinder minerals.

https://www.share-talk.com/ben-turney-ceo-of-kavango-resources-lonkav-talking-to-zaks-traders-cafe/