Central Asia Metals acquires Cygnus for A$232m copper-gold deal
Central Asia Metals (LSE:CAML) has agreed to acquire Cygnus Metals in a transaction valued at A$232m, adding the Chibougamau copper-gold project to its existing portfolio of producing assets. Chair Nick Clarke described the deal as "a compelling opportunity to add a high-grade copper-gold asset that fits well alongside our existing operations." The stock edged up 0.13% to 156.2p, a muted reaction that likely reflects the scale of the consideration relative to Central Asia Metals' current market capitalisation rather than any scepticism about the strategic rationale.
Aura Energy signs nuclear utility MOU for Tiris uranium funding and offtake
Aura Energy (AIM:AURA) has signed a strategic non-binding memorandum of understanding with a major international nuclear power company, covering funding, offtake and technical collaboration for its Tiris uranium project in Mauritania. The agreement targets a Final Investment Decision by year-end 2026, a timeline that would represent a significant acceleration for the project. The news sent the shares up 16.72% to 7.295p, making Aura the standout mover of the session among mining names.
Xtract secures 10-year Amghas licence and relocates gravity plant to site
Xtract Resources (AIM:XTR) has been granted a 10-year renewable mining licence for its Amghas antimony project in northwest Morocco, a milestone that clears the path to production. The company has simultaneously begun relocating a 70,000 tonne-per-annum gravity plant to site, with first concentrate production and sales targeted in Q4 2026. The combination of a long-dated licence and plant mobilisation in a single announcement marks a material step-change in the project's development status.
Elementis sells pharmaceutical unit to ABF for €34.3m enterprise value
Elementis (LSE:ELM) has completed the disposal of its pharmaceutical manufacturing business to Associated British Foods at an enterprise value of €34.3m. Net proceeds of about €30m (c.$35m) will be returned to shareholders via a share buyback, sharpening the group's focus on its core specialty chemicals operations. The stock gained 2.5% to 155.6p on the news.
Panther Metals intersects sulphides with nickel and cobalt at Obonga
Panther Metals (AIM:PALM), the Canada-focused explorer, has reported that initial drilling at the Awkward Conduit target within its Obonga Project has intersected broad intervals of disseminated and veined sulphides carrying elevated nickel and cobalt readings. The result validates the target's geological model and sets up further step-out work. The shares rose 4.3% to 140.8p on the announcement.
GoldStone Resources identifies visible coarse gold at Sierra Leone wash plant
Goldstone Resources (AIM:GRL) reported that visible coarse gold was identified during commissioning of a newly installed wash plant at MinCorp SL, the Sierra Leone venture in which GoldStone holds a 50% equity interest. The discovery during commissioning, rather than in formal production, suggests the plant is processing mineralised material ahead of schedule. The shares climbed 6.67% to 0.72p.
Strategic Minerals advances Redmoor prefeasibility with $10.76m in the bank
Strategic Minerals (AIM:SML) updated the market on progress at its Redmoor Tungsten-Tin-Copper Project, confirming a $10.76m cash balance and reporting that successful resource infill drilling is advancing the prefeasibility programme. The company also extended the sale timetable for its Leigh Creek asset to 31 August, giving additional runway to conclude that process. The stock added 3.03% to 5.1p.
Great Southern Copper commences scout RC drilling at Victoria porphyry
Great Southern Copper (AIM:GSCU) has commenced scout reverse-circulation drilling at the Victoria porphyry prospect within its Especularita project in Chile, with up to four holes planned to test both high-grade breccia-vein and disseminated copper-gold-silver mineralisation. The programme is designed to confirm the extent and grade of a target that the company believes has porphyry-scale potential. The shares rose 7.69% to 2.8p.
Critical Mineral Resources confirms shallow copper-silver at Agadir Melloul
Critical Mineral Resources published new assays and an internal block model showing laterally extensive, near-surface copper-silver mineralisation at its Agadir Melloul project in Morocco. The data underpins plans to deliver a maiden JORC Mineral Resource Estimate later in 2026, which would represent the project's first formal resource statement and a key de-risking milestone for potential partners and investors.
Fulcrum Metals outlines 2km gold target at Big Bear after soil sampling
Fulcrum Metals (AIM:FMET) has completed soil sampling at its Big Bear project in Canada, returning a peak result of 1,460 ppb (1.46 g/t) Au and outlining a regional 2km by 2km target sitting within a broader 3km gold corridor. Multiple permitted, drill-ready targets have been identified across the area. The stock was unchanged at 9.0p, with the market likely awaiting drill results before re-rating the project.
