Kendrick assigns US$400m NPV to Teufelskuppe rare-earth project
Kendrick Resources (AIM:KEN) published an internal review assigning a US$400m net present value to its Teufelskuppe carbonatite project in Namibia, underpinned by a 14Mt tonnage and a 448kt light rare earth oxide (LREO) inventory from verified in-situ mineralisation. The company is targeting a maiden JORC resource by the end of Q3 2026, with chief executive Colin Bird overseeing the programme. The valuation lifted the shares 3.98% to 8.63p.
Sovereign Metals confirms dysprosium and premium by-product potential
Sovereign Metals (AIM:SVML) confirmed that monazite concentrate at its flagship project contains the heavy rare earths dysprosium, terbium and yttrium, establishing a potential high-value by-product stream alongside its primary rutile and graphite production. The company said the composition creates scope for premium pricing in markets where dysprosium and terbium command significant strategic value. The update drove the shares up 10.45% to 37.0p, the sharpest move in the sector on the day.
Richmond Hill Resources submits Martello drill cores for assay
Richmond Hill Resources (AIM:RHR) has dispatched all cores recovered from its Martello Gold Project drill programme for laboratory assaying, with results expected within three weeks. The submission marks the completion of the physical drilling phase, shifting the project into its analytical stage. The shares eased 10.34% to 1.3p ahead of the results.
Firering exercises fourth Limeco option tranche, lifting stake to 41.7%
Firering Strategic Minerals (AIM:FRG) exercised its fourth option tranche over Limeco, taking its shareholding to 41.7% and deepening its exposure to the asset's growth trajectory. Chief executive Youval Rasin said the increased position allows Firering and its shareholders to participate more fully in Limeco's continued development. The shares edged up 2.39% to 1.0495p on the news.
Zeus Capital initiates on Tungsten West with Buy ahead of Hemerdon restart
Tungsten West (AIM:TUN) received a fresh Buy initiation from Zeus Capital, which argued that a US$25m bridge loan and tangible progress on commissioning have materially de-risked the restart of the Hemerdon tungsten and tin mine, a project the broker described as the next UK mine. Zeus's coverage adds institutional visibility to the developer at a critical stage in its financing and construction timeline. The shares added 0.7% to 39.475p.
Jangada Mines extends Molly Gold mineralised corridor with high-grade assays
Jangada Mines (AIM:JAN) reported high-grade gold, silver and copper assays from its Molly Gold Project in Brazil, with the results extending the known mineralised corridor and strengthening the geological case for the asset. The company said the data underpins a funded expansion of the drilling programme, with chief executive Paulo Misk overseeing the next phase. The shares slipped 2.99% to 1.3p despite the positive assay news.
Andrada Mining secures Namibian bank loans and completes Lithium Ridge drilling
Andrada Mining (AIM:ATM) conditionally agreed senior secured term loans from Bank Windhoek and the Development Bank of Namibia, providing a domestic financing foundation for its operations. Separately, the company confirmed completion of an expanded diamond-drilling programme at its Lithium Ridge project, carried out in partnership with SQM, the Chilean lithium major. The shares dipped 1.0% to 3.8611p as the market digested the conditional nature of the loan agreements.
