Flagstaff Communications’ Post

--Company Update-- GOLDPLAT PLC, the AIM listed Mining Services Group, with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry, announces an operational update for Q1 ended 30 September 2024. The two recovery operations achieved a combined operating profit for the quarter of £1,838,000. Cash balances in the group remained strong at £3,100,000 at the end of Q1. Klingenberg Werner, CEO of Goldplat commented: "I am pleased with what our teams in the two business units have achieved during Q1. In Ghana, the team managed to implement several new processes and procedures in a short period to focus the business on local beneficiation and in South Africa, on streamlining the operations due to lower visibility of supply of material. This was all done whilst maintaining operational profitability. There is still significant work to be done, but all our efforts will create a more robust business providing a niche solution to the industry it operates in. The focus for the remainder of the year is to reduce inventory levels in Ghana, whilst increasing cash on hand, improve the local beneficiation solution in Ghana to ensure constant margins, progress the approval of the TSF pipeline, continue cost management efforts in South Africa and increase market share in South Africa." RNS for more: https://lnkd.in/edivtUQW === Cc Tim Thompson #GDP

Far East Gold Ltd (ASX:FEG, OTC:FEGDF) strategic investor Xingye Gold (Hong Kong) Mining Company Limited has received all necessary Chinese regulatory approvals to release the first placement tranche funds to FEG with almost A$6.4 million received by the company. This is part of a three-tranche conditional share placement agreement by Xingye Gold, a wholly-owned subsidiary of Inner Mongolia Xingye Mining Co.,Ltd, targeting an investment of more than A$14 million for a 19.99% strategic stake in Far East Gold. The first tranche totals A$6,391,669.60 and all tranches are priced at A$0.20 per share, representing a 47% premium to the company’s recent placement and share purchase plan. More at #Proactive #ProactiveInvestors #ASX #FEG #GoldMining #GoldStocks #MiningAustralia http://ow.ly/pN7N105OytU

Perseus Mining Limited (ASX:PRU, TSX:PRU, OTC:PMNXF) has increased its interest in #AfricanGold and West Africa in particular by making a strategic equity interest in Predictive Discovery Ltd (ASX:PDI, OTC:PDIYF), which holds the Bankan Gold Project in Guinea with an ore reserve of 3.05 million ounces. The prominent African gold producer, developer and explorer has acquired a relevant interest in 13.82% of the issued shares of Predictive Discovery, an emerging mineral development company listed on the ASX. Predictive’s key asset is Bankan, a pre-development project which has a reported probable ore reserve of 57.7 million tonnes at 1.64 g/t #gold containing 3.05 million ounces of gold. In addition to the Predictive share acquisition, Perseus has an economic interest in approximately 3.45% of Predictive shares through cash settled equity swaps. More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #Acquisition #GoldProduction http://ow.ly/xyO5105FrA0

More Possible Buyers Looking at Co. With Liberian Gold Project: https://ow.ly/AC7O50Ue3JK Pasofino Gold Limited says it continues to have discussions with "potential counterparties" as one offer's period of exclusivity has expired. The company says the west African country has untapped mining potential as experts say gold's bull market is continuing to pick up steam. $VEIN.V #goldstocks

Strong gold prices supported a surge in Caledonia Mining (CMCL) Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s gross revenues in the second quarter of $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. During the quarter, Caledonia's Blanket Mine produced 20,773 ounces of gold, marking a 19.1% increase compared to the second quarter of 2023. The on-mine cost per ounce decreased slightly to $906, while the consolidated all-in sustaining cost (AISC) dropped by 7.7% to $1,253 per ounce. Caledonia also made progress with its Bilboes Sulphide Project, publishing a preliminary economic assessment that forecasts a production of 1.5 million ounces of gold over a 10-year mine life at an AISC of $968 per ounce. More at #Proactive #ProactiveInvestors http://ow.ly/x8J7105F7yI

The ambitious joint venture between mining giants Gold Fields and AngloGold Ashanti has encountered a significant setback as key permits remain pending. Additionally, it aimed at merging the Tarkwa and Iduapriem gold mines in Ghana. Both companies have confirmed that they are still awaiting the necessary approvals. Initially announced in March 2023, the collaboration was designed to establish Africa’s largest gold mining operation. Under the proposed deal: Gold Fields would hold a 60% stake. AngloGold Ashanti 30%, in addition to the Ghanaian government the remaining 10%. In a joint statement on Thursday, Gold Fields and AngloGold Ashanti expressed disappointment over delays in securing approvals ahead of Ghana’s national elections in December. They emphasised that merging the two mines into a single operation would extend mine life. Additionally, it would increase production, and reduce costs, benefiting all stakeholders. However, without clear timelines from Ghanaian authorities, the companies will focus on their individual assets. Meanwhile, leaving room for future merger talks. Despite engaging with the government since March 2023, the necessary approvals, including parliamentary consent, have not been obtained. The companies had aimed to finalise this by October 2024. The joint venture was expected to yield 900,000 ounces of gold annually for the first five years. Besides 600,000 ounces over an 18-year lifespan. Both firms have shifted focus from South Africa to international markets like Ghana, Australia, and the Americas due to increasingly challenging extraction conditions in South Africa. Learn more here: https://lnkd.in/eP29dEvD #Mining #Gold #Ghana #Minerals

🌟 M&A on the Rise in the Gold Mining Sector: Key Recent Acquisitions As gold prices climb, the mining sector is buzzing with major moves: 🔹 Aura Minerals Inc (TSX:ORA) acquired Bluestone Resources Inc. (TSXV:BSR), gaining access to the near-production Cerro Blanco project in Guatemala, enhancing Aura's asset base with immediate production potential. 🔹 GOLD FIELDS (NYSE:GFI) purchased Minière Osisko / Osisko Mining (TSX:OSK), adding substantial resources like Canada’s Cariboo gold project, a strategic step to bolster Gold Fields’ North American presence. 🔹 Minera Alamos Inc. (TSX:MAI.V) acquired Sabre Gold Mines Corp. TSX:SGLD / OTCQB:SGLDF, strengthening its portfolio with U.S. assets for greater production resilience. Our analysts' weekly mining commentary dives into the strategy behind each acquisition and the broader trend of juniors with near-production assets becoming attractive targets. Explore the full analysis here: https://lnkd.in/gtqy__8k Disclaimer: Past performance is not indicative of future results. #Mining #Gold #MergersAndAcquisitions #JuniorMining

Lundin Gold lifts gold guidance, costs for Fruta del Norte Canadian precious metals miner Lundin Gold Ecuador (TSX: LUG) has revised up its gold production guidance for the Fruta del Norte underground mine in southeast Ecuador. “The commissioning of the plant expansion project is going well, which is expected to increase plant throughput to 5,000 tonnes per day and to improve gold recovery,” president and chief executive Ron Hochstein said. #mining #miningnews #copper #gold

Financial Insights from Euro Sun Mining At Euro Sun Mining, our projected production rates for copper and gold are key metrics driving our strategic planning and financial forecasting. These figures not only help us predict revenue potential, assess our cost structure, and ensure profitability, but they also play a critical role in managing resource depletion and securing future financing. For our flagship Rovina Valley Project, we're proud to share that our predicted average annual production rates for the first 10 years are: 🔸 Copper: 14 million pounds per year 🔸 Gold: 107,000 ounces per year What’s even more exciting is that according to our detailed mine extraction plan, average copper production rates increase further after year 10, showcasing the long-term potential and resilience of the project. We’re thrilled about our journey ahead and look forward to unlocking the full value of this incredible asset for European mineral security and Romania. In particular, the people of Hunedoara County now also have the real prospect of economic develop after decades of financial decline. #Mining #Copper #Gold #CRMA #energytransition #Sustainability #EuroSunMining

Perseus Mining Limited has delivered strong production from its three operating gold mines in the September quarter, #Yaouré and #Sissingué in Côte d’Ivoire and #Edikan in Ghana, with a combined 121,290 ounces of gold produced.  Perseus says the strong operating results “confirm once again Perseus’s position as one of the world’s better performing mid-tier gold producers.” ⚡Weighted average production cost of US$990/oz, weighted average AISC was US$1,201/oz of gold. ⚡Gold sales totalled 108,895 ounces. ⚡Realised gold price averaged US$2,249/oz — US$132/oz more than Q4 FY24. More at #Proactive #ProactiveInvestors #PRU #PMNXF http://ow.ly/yErQ105MHKM