News Archives - MiningNewsWire

TuesdayDec 03, 2024 9:30 am

MiningNewsBreaks – Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) Boosts Production with Successful Tubing Operation at SASB Gas Field

Trillion Energy (CSE: TCF) (OTCQB: TRLEF) has completed the installation of 2 3/8 velocity string tubing in four wells at the SASB Gas Field in Turkey, including three long-reach wells on the Akcakoca Platform. This operation aims to reduce water loading and enhance gas production by enabling wells to produce at lower wellhead pressures. Initial results show steady production improvements from Guluc-2 and West Akcakoca-1, while Akcakoca-3 continues with reduced water output. The next phase includes similar upgrades to two tripod wells, reservoir stimulation, and optimized choke adjustments to maximize gas recovery. Despite winter delays, Trillion anticipates a significant boost…

WednesdayNov 27, 2024 8:00 am

MiningNewsBreaks – Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Advances Plans for Saudi-Based PGM Smelter and Refinery

Platinum Group Metals (NYSE American: PLG) (TSX: PTM) has signed a memorandum of understanding (MOU) with Ajlan & Bros Company for Mining and Saudi Arabia's Ministry of Investment (MISA) to explore the development of a platinum group metals smelter (“PGM Smelter”) and base metal refinery (“BMR”) in Saudi Arabia. The initiative supports Saudi Arabia’s Vision 2030 by fostering the mining and minerals sector as a key economic pillar. Building on a 2023 Cooperation Agreement with Ajlan, the project includes a global PGM concentrate market study, a feasibility study, and potential for a 50:50 joint venture. The project aims to process…

TuesdayNov 26, 2024 9:32 am

MiningNewsBreaks – Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Reports High-Grade Mineralization in Santa Barbara Zone of Iska Iska Project

Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) announced initial assay results from its definition diamond drilling program in the Santa Barbara starter pit area of the Iska Iska silver-tin polymetallic project in Bolivia. Highlighted results from Hole DSB-68 include a 289.13-meter intersection grading 66.90g Ag/t, 0.63% Zn, 0.42% Pb, and 0.11% Sn, with higher-grade intervals reaching up to 126.10g Ag/t over 122.03 meters. The drilling confirms large high-grade mineralized shoots within breccia pipes that serve as feeders, with mineralization widening at depth. These results align with the geological zoning model of Bolivia's Tin Belt and suggest the potential for…

MondayNov 25, 2024 8:00 am

MiningNewsBreaks – Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) Updates 2024 Exploration Progress at Storm Copper Project, Highlights New Discoveries

Aston Bay (TSX.V: BAY) (OTCQB: ATBHF) provided an update on the 2024 exploration activities at the Storm Copper Project on Somerset Island, Nunavut, operated by American West Metals Limited under a 20/80 joint venture agreement. Aston Bay retains a free carried interest until a mining decision is made following a bankable feasibility study. CEO Thomas Ullrich highlighted the discovery of two new zones with copper, zinc, and silver mineralization, emphasizing the potential of the 110 km-long trend. He noted the success of prospecting, geophysics, geochemistry, and drilling efforts and announced ongoing development of a maiden resource and further testing of new…

FridayNov 22, 2024 9:59 am

MiningNewsBreaks – Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Featured in Editorial Highlighting Growing Demand for Critical Metals

Platinum Group Metals (NYSE American: PLG) (TSX: PTM) announced its inclusion in an editorial by NetworkNewsWire (NNW), titled “Critical Metals Surge Opens Prime Opportunity for Mining Investors,” which explores rising interest in mining fueled by the global shift to clean-energy technologies and the growing demand for critical and traditional metals. The editorial highlights the importance of platinum group metals (PGMs) in industrial applications, including autocatalysis and pollution control, driven by decarbonization efforts and geopolitical tensions affecting supply. Platinum Group Metals Ltd. is positioned as a leader in the PGM sector, supported by its flagship Waterberg Project in South Africa. To…

MondayNov 18, 2024 1:45 pm

MiningNewsBreaks – Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Ownership Led by Individual Investors Holding Majority Stake

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) was featured in a recent article by Simply Wall St. The publication describes Platinum’s ownership structure, explaining that the company is primarily owned by individual investors, who hold a 51% majority stake, granting them substantial influence over the company’s governance and management decisions. Institutional investors also hold a significant portion, contributing to PTM's credibility within the investment community, though ownership remains fragmented, with the top 25 shareholders collectively owning 48%. The largest single shareholder is Hosken Consolidated Investments Limited, holding 26% of shares. Insider ownership is minimal, with less than 1%…

MondayNov 18, 2024 10:27 am

MiningNewsBreaks – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Targets $1.05 Million in Proceeds Through Private Placement of Units

Fathom Nickel (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) announced details of its proposed private placement offering of up to 7,500,000 flow-through units (“FT Units”) at $0.04 per unit and 21,500,000 hard dollar units (“HD Units”) at $0.035 per unit, aiming to raise aggregate gross proceeds of $1,052,500. Each unit includes common shares and warrants exercisable for three years at $0.07. Proceeds from FT Units will fund exploration expenditures at the Gochager Lake Project in Saskatchewan, qualifying as flow-through critical mineral mining expenditures under Canada’s Tax Act, while HD Unit proceeds will support general exploration, project development, and corporate needs. The offering,…

TuesdayNov 12, 2024 8:15 am

MiningNewsBreaks – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) Expands Private Placement

Fathom Nickel (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) has amended its private placement offering by introducing a flow-through unit (“FT Unit”) component at $0.04 per unit, responding to high investor interest. Additionally, the price of hard dollar units (“HD Units”) has been adjusted to $0.035 per unit. The offering is expected to raise approximately $750,000, with proceeds allocated for Canadian exploration expenses under the Income Tax Act and exploration at the Gochager Lake Project in Saskatchewan. Closing is anticipated by Nov. 21, 2024, pending regulatory and Canadian Securities Exchange approvals. To view the full press release, visit https://ibn.fm/0dhIG About Fathom Nickel…

ThursdayNov 07, 2024 11:40 am

MiningNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Invests $400,000 in Inventus Mining’s Private Placement to Support the Pardo Project Advancement

McEwen Mining (NYSE: MUX) (TSX: MUX) has strengthened its support for Inventus Mining Corp. (TSXV: IVS) by acquiring 10,000,000 units in Inventus’s recently closed private placement, contributing $400,000 toward the $600,000 raised. Each unit in the placement includes one common share and one warrant, enabling further share purchases at $0.09 until 24 months post-closing, with potential for accelerated expiry if trading conditions are met. McEwen’s significant investment demonstrates its commitment to advancing Inventus’s Pardo Project, marking a strategic alignment in McEwen’s broader investment interests in the precious metals sector. To view the full press release, visit https://ibn.fm/MobQk About McEwen Mining Inc.…

WednesdayNov 06, 2024 10:35 am

MiningNewsBreaks – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Reports Strong Q3 Performance with 36% Revenue Increase and Major Profit Gains

McEwen Mining (NYSE: MUX) (TSX: MUX) announced impressive financial results for Q3 2024, driven by a 36% increase in revenue to $52.3 million due to higher gold prices and an uptick in production. The company’s gross profit surged by 268% to $13.8 million, reflecting improved operational efficiencies and robust production levels. Additionally, McEwen Mining reported a reduced net loss of $2.1 million, significantly lower than the $18.5 million loss in Q3 2023. Operating cash flow rose to $23.2 million, while adjusted EBITDA soared 586% to $10.5 million, highlighting the company’s enhanced cash flow and operational gains across its assets. To…

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