Giyani raises $1.2m to advance Botswana project

TSX-V-listed Giyani Metals’ non-brokered private placement financing has closed. The private placement, announced on May 19, was fully subscribed and comprised 15-million units at a price of $0.08 a unit for gross proceeds of $1.2-million in immediately available new funding.

Xtract Resources disappointed over poor first-quarter gold output

Total alluvial mining contractor gold production was 467 oz at the Manica concession for the first quarter, ended March 31, 2020, diversified metals and minerals producer Xtract Resources reports, noting that the results “are a little bit disappointing for the first quarter”. This compares with the 1 045 oz produced in the fourth quarter of 2019, ended December 31.

Second stage of Kefi’s drilling programme in Saudi Arabia completed

Gold and Minerals (G&M), Kefi Minerals’ 34%-owned joint venture company, has now completed Stage 2 of the Hawiah diamond drilling programme, in Saudi Arabia, thereby increasing the number of completed drill holes to 69 since October 2019, when the first drill hole was completed. Copper, zinc, gold and silver sulphide mineralisation has been intercepted in drilling consistently over more than 4 km in strike length, with intercepts within the supergene zone of up to 4.4% copper over a 6 m true width interval, including 5.8% copper over a 3 m true width.

NUM calls for closures of mines with a high number of Covid-19 cases

The National Union of Mineworkers (NUM) has expressed concern about the number of Covid-19 cases reported at South African mines and has called on the Department of Mineral Resources and Energy (DMRE) to stop mining operations until all safety measures have been adhered to. Following the outbreak of the virus in the mining industry, and with infections on the rise, the NUM has proposed that all mining operations that have a high number of Covid-19 infections be temporarily closed until the situation is remedied.

China’s mine development in sub-Saharan Africa likely to slow

The development of mines in sub-Saharan Africa by Chinese firms will slow in the coming quarters, before picking up again in 2021, says industry research company Fitch Solutions. In addition to logistical challenges being faced by miners as a result of the global Covid-19 pandemic, the company says Chinese firms will suffer from reduced access to State-subsidised capital.

Pandemic disrupts jewellery business, but recovery on the cards

The drivers for platinum jewellery business growth in 2019 point the way to a post-Covid-19 recovery, the Platinum Guild International’s (PGI’s) 2020 'Platinum Jewellery Business Review (PJBR)' has found. The  PJBR surveys more than 1 000 manufacturers and retailers and more than 4 000 consumers, to provide a comprehensive and in-depth analysis of platinum jewellery’s performance.

Sabina raises C$49m to advance Back River gold project development

Emerging precious metals company Sabina Gold and Silver has entered into an agreement with a syndicate of underwriters to raise C$49-million, which it would use to advance the Back River gold project, in Nunavut. Led by BMO Capital Markets and RBC Capital Markets, the underwriters have agreed to buy, on a bought-deal basis, a combination of shares, including common, flow-through, charity flow-through and super charity flow-through common shares.