There was a healthy stream of news from small-cap mining companies again this week
It was a busy week for (). On Thursday the AIM-listed firm shares got a lift as it described some of the latest drilling results from its Havieron gold prospect in Western Australia as ‘truly spectacular’.
One infill hole hit 109 metres (m) of gold at an average grade of 6.3 grammes per tonne (g/t). Greatland’s drilling partner Newcrest’s latest update also reported an 82m intersection of gold and copper in a new area 220m north-west of the previous drilling.
Gervaise Heddle, Greatland’s chief executive noted that this was the eighth set of excellent data from Havieron and contained some of the best results.
Meanwhile, Greatland shares also rose on Monday after the company said it had executed a series of agreements that will assist in the application process for a mining lease at the Havieron project in Western Australia.
The firm revealed that Newcrest had signed an indigenous land use agreement with the Western Desert Lands Aboriginal Corporation (Jamukurnu-Yapalikunu), the prescribed body corporate for the Martu People of the Central Western Desert region in Western Australia, to establish a framework between the parties in regards to any future development activities at Havieron, including mine construction and operation.
There was also good news for investors in another gold miner this week, with () surging on Thursday after the firm reported a 50% increase in the joint ore reserves at the Tavsan project in Turkey, part of its Red Rabbit joint venture (JV) with Proccea Construction.
The AIM-listed firm said the resource has increased to 4.49mln tonnes for 253,000 ounces of gold and 723,000 ounces of silver, while the estimate was also further de-risked with 77% of the resource now in the measured and indicated JORC categories.
And staying with gold, on Friday, () announced that it has received the greenlight from the Australian government for its proposed acquisition of the Beaconsfield gold mine in Tasmania.
A deal was struck in February for NQ to acquire “historically one of the richest gold mines” for an initial fee of A$2mln.
It has now been approved by the Australian Government’s Foreign Investment Review Board. With government approval in place the company can now advance to complete the deal and, in time, start work to reboot the project.
Moving to another commodity, BlueRock Diamonds PLC () got a boost on Monday from news it has sold 2,400 carats from its Karevleei mine in South Africa at an average price of US$290 per carat for a total of US$700,000. The transaction was conducted privately.
“This sale at a time when the traditional sales channels for diamonds remain closed and at a price which we estimate to be at current market value for that particular parcel of diamonds is an excellent result in a highly uncertain market,” said BlueRock executive chairman Mike Houston in a statement.
Also on Monday, …