This article reports on recent developments in the mining sector, highlighting key events impacting share prices. Jubilee Metals secures a power supply agreement, New Frontier Minerals partners with Austral Resources, KEFI wins a legal battle, and Rome Resources unveils promising tin exploration results.
Jubilee Metals has received regulatory approval for a new power supply agreement in Zambia, marking a significant step forward for the company. Power delivery is slated to commence on January 20, 2025, enabling Jubilee Metals to restart its Roan concentrator and secure a reliable power supply for its operations. Shares of Jubilee Metals surged by 5%, reaching 4.72 pence per share.
Meanwhile, New Frontier Minerals and Austral Resources have signed a memorandum of understanding (MoU) to create a strategic framework for collaboration. This partnership aims to leverage the combined strengths of both companies to demonstrate integrated scaling across the Mt Isa copper belt. New Frontier Minerals' shares experienced a 4% increase, settling at 0.89 pence per share.The English High Court of Justice, King's Bench, has ruled in favor of KEFI, dismissing all claims against the company and awarding it all of its counterclaims. This legal victory represents the final resolution of a series of threats and attempts to interfere with KEFI's operations, all of which have been successfully dismissed. All accusations against KEFI's executive chairman and the president of one of its banks have been withdrawn. KEFI's share price rose by 3% to 0.49 pence per share.Finally, Rome Resources announced laboratory results from its latest drilling campaign at the Mont Agoma tin prospect in the Democratic Republic of Congo. Assays from the first two of five completed diamond core drill holes revealed significant widths of tin mineralization across three distinct zones within the tin, copper, and zinc zone. MADD016A showed a combined width of 38.4 meters, while MADD017 reached 32.1 meters, both ending in mineralization. The company noted increased tin grades and visible cassiterite in the deeper intersection of MADD017, supporting its zonation model, which predicts higher tin mineralization at depths closer to the granitic source. However, Rome Resources' shares declined by 18%, reaching 0.28 pence per share
Mining Jubilee Metals Power Supply New Frontier Minerals Austral Resources KEFI Legal Victory Rome Resources Tin Exploration Share Price Fluctuations
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