A busy day for small-cap miners brought a significant resource estimate, a major earn-in deal, and fresh drilling results across the sector. GreenX Metals (AIM:GRX) commanded the most attention after outlining a large Exploration Target at its Tannenberg copper-silver project in Germany, while Great Western Mining (AIM:GWMO) handed KGHM a six-year option to earn into its Nevada copper project and Galantas Gold (AIM:GAL) closed a US$100m funding package for its Chilean assets.
GreenX Metals outlines 144-279 Mt copper-silver target at Tannenberg
GreenX Metals (AIM:GRX) published an Exploration Target of 144-279 Mt at its Tannenberg project in Germany, carrying 1.3-3.9 Mt of contained copper and 69-188 Moz of contained silver. The estimate marks the transition from archive and desktop work to active field programmes at the project, representing a meaningful step-up in the asset's development timeline.
The announcement lifted GreenX shares 3.67% to 50.28p, reflecting market enthusiasm for the scale of the target. CEO Ben Stoikovich is now expected to advance field-based exploration to test the geological model underpinning the estimate.
Zeus Capital initiates on Tungsten West with Buy ahead of Hemerdon restart
Tungsten West (AIM:TUN) received a Buy initiation from Zeus Capital, which backed the developer's plan to restart the Hemerdon tungsten and tin mine in Devon. The broker identified execution progress and the close of an up-to-US$85m funding facility as the primary near-term catalysts for the stock. Shares edged 0.7% higher to 39.475p on the coverage launch.
Great Western signs earn-in option with KGHM on Nevada copper project
Great Western Mining Corporation (AIM:GWMO) signed a six-year option agreement with Polish mining giant KGHM, giving the major the right to earn up to 100% of the Eastside-Tango copper project in Nevada. The deal includes staged payments, a commitment to spend at least US$5m on exploration, and royalty upside retained by Great Western. The arrangement hands a well-capitalised partner the operational lead while preserving meaningful economic exposure for the London-listed firm. Shares slipped 1.23% to 4.0p.
Galantas Gold completes $100m funding for Chile mine projects
Galantas Gold (AIM:GAL) closed a $100m funding package to advance two Chilean assets: the Indiana Gold and Copper Project and the Andacollo Gold Project. The capital will fund both exploration and development activity across the two projects, giving the AIM-quoted company a substantial war chest for its South American growth strategy. Shares were quoted at 26.0p.
Cadence Minerals moves Azteca project to contractor mobilisation phase
Cadence Minerals (AIM:KDNC) reported that its Azteca iron ore project in Mexico is entering the execution phase, with the licence in place, funding progressing, and contractor mobilisation expected to commence shortly. CEO Kiran Morzaria described the recommissioning as advancing rapidly. Shares fell 3.88% to 6.06p despite the operational progress.
GreenRoc produces first spheronised graphite from Amitsoq pilot plant
Greenroc Strategic Materials (AIM:GROC) announced the production of first spheronised graphite from its pilot anode plant, a processing milestone for the Amitsoq project in Greenland. CEO Stefan Bernstein said the plant is delivering encouraging early data and providing a foundation for optimising particle size distribution and grain shape in the flowsheet. The company is also preparing a drilling campaign at Amitsoq. Shares were quoted at 3.6p.
Oriole Resources reports positive rock-chip results from Eastern CLP
Oriole Resources (AIM:ORR) released rock-chip sampling results from its Eastern CLP licence area, with the data continuing to support what management described as significant prospectivity for further gold discoveries. The results reinforce the geological case for the project but did not prevent a 3.45% decline in the shares to 0.28p on the day.
