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Summary
- Greatland Gold got approval for a mining lease application for Havieron gold-copper deposit.
- The Company observed the potential for bulk tonnage opportunity at the Havieron project.
- Jubilee Metals Group's application for small scale mining license in Zambia got approved.
- The Company secured agreement for the supply of feed resources for Inyoni operations in South Africa.
Greatland Gold PLC (LON:GGP) and Jubilee Metals Group PLC (LON:JLP) are two mining stocks listed on the FTSE index. Shares of GGP and JLP were up by around 10.60 percent and 5.82 percent, respectively from their last closing pricing (as on 14 September 2020, before the market close at 1:30 PM GMT+1). It is mindful to note that shares of GGP touched their 52-week high of GBX 22.50 on 14 September 2020.
Greatland Gold PLC (LON:GGP) - Expects initial resource at Havieron deposit in Q4 2020
Greatland Gold PLC is a UK based mining company that deals in gold and nickel projects. The Company has an interest in projects such as Paterson, Panorama and Firetower in Western Australia, and two projects in Tasmania. Greatland Gold PLC is listed on the FTSE AIM 100 index.
Project Overview of Greatland Gold
(Source: Company website)
Recent Events
- On 10 September 2020, Greatland Gold announced that the mining lease application 45/1287 for Havieron gold-copper deposit got approved. The application was granted from the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS). The lease is for 12-block area that had a farm-in agreement between Greatland Gold and Newcrest. The Company plans to file proposal for early work activities at the Havieron deposit that includes the construction of a boxcut.
- On 19 August 2020, the Company announced the start of the drilling programme at Scallywag project in Paterson region. Areas such as Kraken, Blackbeard and London at Scallywag prospect will be on top priority for the drilling programme. After the completion of the initial drilling phase at Scallywag, it would focus on other prospects such as Paterson Range East and Black Hill License. The Company has started conducting an electromagnetic survey using NRG's XciteTM Airborne Electromagnetic (AEM) system that would cover the western parts of Havieron and Paterson Range license. In June 2020, the Company won the ballot for the fourth exploration license in the Paterson region. The Paterson project includes three licenses that include Havieron, Paterson East Range and the Black Hills and license application for Rudall.
Updates on Havieron Deposits
In the recent update on a drilling programme at Havieron deposit in the Paterson region of Australia, the Company highlighted the potential for bulk tonnage opportunity. In the Northern Breccia, it observed massive sulphide mineralization and the infill drilling depict geological and grade continuity within the crescent sulphide zone.
Share Price Performance Analysis
1-Year Chart as on September-14-2020, before the market close (Source: Refinitiv, Thomson Reuters)
Greatland Gold PLC's shares were trading at GBX 22.01 and were up by close to 10.60 percent against the previous closing price (as on 14 September 2020, before the market close at 1:30 PM GMT+1). GGP's 52-week High and Low were GBX 22.50 and GBX 1.51, respectively. Greatland Gold had a market capitalization of around £754.99 million.
Business Outlook
The Company highlighted that it expects the delivery of initial resource at Havieron deposit in Q4 2020. It is also exploring other assets in the Paterson region. Subject to supportive results at Havieron, the Company plans stage-3 that includes an investment of USD 25 million & pre-feasibility study, stage-4 that involves the investment of additional USD 20 million for pre-feasibility study and the last stage would be to decide on mining.
Jubilee Metals Group PLC (LON:JLP) - Assessing the expansion at Inyoni
Jubilee Metals Group PLC is a UK based company engaged in the business of metal recovery. The Company is focused on metal recovery from mine tailings, waste, slurry and slag, and it has exposure to platinum group metals (PGM), copper, vanadium, zinc and cobalt. Jubilee Metals Group is listed on the FTSE AIM All-Share index.
Metal Portfolio of Jubilee Metals
(Source: Company website)
Recent Events
- On 14 September 2020, Jubilee Metals announced that its application for the renewal of small scale mining license 7081-HQ-SML in Kabwe, Zambia was approved. The mining license is for ten years. The Company also announced the appointment of Nicholas Taylor as a non-executive director to the board.
- On 24 August 2020, Jubilee Metals signed an agreement for the supply of feed sources for a minimum of 40,000 tonnes per month to a potential of 80,000 tonnes per month for three years and extendable by five years at its Inyoni operations. The new run on mine is in addition to 95,000 tonnes per month secured for Windsor chrome plant. The new agreement has increased the platinum group metals (PGM) resources. As per the processing agreement, Jubilee Metals would provide funding of close to £1.34 million to upgrade the chrome ore benefaction plant.
H1 FY2020 results (ended 30 June 2020) as reported on 13 July 2020
(Source: Company website)
In H1 FY20, the Company achieved revenue of £29.4 million, which increased from £14.3 million reported in H1 FY19. The reported earnings improved from £5.6 million in H1 FY19 to £12.7 million in H1 FY20. The Company produced 191,995 tonnes of chromite concentrate in H1 FY20 that generated revenue of £8.4 million. Jubilee Metals processed 481,353 tonnes of tailings in H1 FY20 and produced 19,682 ounces of PGM and generated revenue of £21.0 million.
Share Price Performance Analysis
1-Year Chart as on September-14-2020, before the market close (Source: Refinitiv, Thomson Reuters)
Jubilee Metals Group PLC's shares were trading at GBX 5.82 and were up by close to 5.82 percent against the previous closing price (as on 14 September 2020, before the market close at 1:30 PM GMT+1). JLP's 52-week High and Low were GBX 5.90 and GBX 1.80, respectively. Jubilee Metals had a market capitalization of around £116.19 million.
Business Outlook
The Company is focused on expansion and developments of projects in Zambia and South Africa, and the renewal of the license in Zambia has strengthened its plan. Jubilee Metals expects to produce the copper concentrate in next three months from the vast amount of copper surface tailings it had received recently, and it will start the processing of 150 tonnes of copper tailings it acquired in June 2020. The Company is assessing the expansion at Inyoni to 3,500 PGM ounces per month.
