This news article highlights recent updates from several mining companies, including Savannah Resources, Firering Strategic Minerals, Amaroq Minerals, and Ariana Resources. The companies report positive developments in lithium exploration, aggregate production, new licence acquisitions, and gold mining operations.
Savannah Resources announced further excellent results from rock chip sampling conducted as part of the ongoing exploration program at the Barroso lithium project. Laboratory analysis of samples from the C-100 and Aldeia (Block B) Mining Licences revealed extensive lithium mineralization within these areas. Shares of Savannah were trading at 4.26 pence per share, down 2%, in morning trading.
Firering Strategic Minerals provided an update on the production of its key ancillary product, aggregate, at its quicklime project in Zambia. Aggregate production has reached nameplate capacity, aligning with the company's strategy to establish multiple revenue streams. Over 30,000 tonnes per month of aggregate can be produced. Aggregate production surged by 58.9% to 84,702 tonnes in the fourth quarter of 2024 compared to the third quarter of 2024. This robust production increase has significantly boosted operating cash flow in Q4 2024 compared to Q3 2024. Firering anticipates the imminent commencement of first production for its core quicklime product. Shares of Firering experienced an 8% rise on the news, reaching 3.98 pence per share.Amaroq Minerals received the Johan Dahl Land licence (MEL 2025-17) in Greenland. This new licence expands Amaroq's presence in the South Greenland copper belt, a region known for its high potential for copper-gold mineralization. The acquisition complements the company's existing portfolio in the area. Shares of Amaroq increased by nearly 3% on the day, closing at 108.5 pence per share. Ariana Resources' Zenit mine in Türkiye produced and sold 20,866 ounces of gold in 2024, exceeding the full-year production guidance of 20,000 ounces of gold for 2024. As of the end of 2024, the mine had produced a total of 171,907 ounces of gold (planned at approximately 100,000 ounces of gold), and, including silver credits, it recorded over US$328 million in revenue since operations began in early 2017. The company stated that mining operations at Kiziltepe and Tavsan are ongoing, with the Arzu South pit at Kiziltepe scheduled to resume production shortly. Ariana reported gross full-year revenue of $54.7 million at an average revenue per gold ounce of $2,621/oz. The company also mentioned that new results from diamond drilling and other exploration findings are anticipated from the Dokwe project in Zimbabwe, which will support revised resource and reserve estimates. Diamond drilling in Türkiye has been temporarily halted at the Salinbas project due to inclement weather conditions. Meanwhile, a new drilling program of up to 15,000 meters has commenced at Tavsan.Despite the positive news flow, shares in Ariana continued to underperform. On Wednesday morning, they were trading at 1.68 pence per share, down 4% from the previous session.
LITHIUM PRODUCTION EXPLORATION MINING COMPANY UPDATES AGGREGATE
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