A busy Monday for mining news brought two major financing milestones, KEFI Gold and Copper (AIM:KEFI) locking in over US$400m to build its Tulu Kapi gold mine and Pensana securing a US$165m anchor investment for its Longonjo rare earths project, alongside a boardroom shake-up at Neo Energy Metals and strong drill results from Oriole Resources (AIM:ORR) and Mila Resources.
Pensana lands US$165m Cascade investment for Longonjo build
Pensana (AIM:PRE) secured a US$165m investment from Cascade to anchor the development of its US$250m Longonjo mine-to-magnet project in Angola. The funding is intended to cover the full scope of the integrated rare earths development, which spans mining through to magnet-grade separated oxides. The shares added 0.66% to 91.2p.
Neo Energy Metals suspends CFO and names interim financial lead
Neo Energy Metals (AIM:NEO) suspended chief financial officer De Wet Schutte pending an investigation and appointed Martin Westerman to oversee the company's financial function with immediate effect. No further detail on the nature of the investigation was disclosed. The shares rose 1.32% to 0.77p.
Total Graphite launches optimisation programme and reshuffles board
Total Graphite (AIM:TGR) launched a Portfolio Optimisation Programme designed to accelerate development across its asset base and maximise shareholder value, accompanying the announcement with immediate board changes to support execution. The company made several director appointments, Christian Dennis, Mark Rollins, Andrew Wright, Thomas Hill, and Michael Lynch-Bell among those involved, as it restructures its leadership ahead of the programme's rollout. The shares jumped 6.15% to 1.38p.
Arkadian Strategic Metals begins trading under new AIM ticker AKN
Arkadian Strategic Metals (AIM:AKN), formerly Alba Mineral Resources, began trading on AIM under its new ticker from 8 June following Companies House approval of the name change. The rebrand reflects the company's strategic repositioning toward critical and strategic metals. The shares fell 8.75% to 0.0146p on the first day under the new identity.
Oriole Resources returns strong step-out intercepts at MB01-S
Oriole Resources (AIM:ORR) reported results from a 10-hole, 2,476.80m step-out diamond drilling programme at its MB01-S deposit, with the best intersection returning 27.20m at 1.69g/t Au. The programme was designed to extend the known mineralisation envelope, and an updated JORC Mineral Resource Estimate for MB01-S is expected in early Q3 2026. The shares surged 13.33% to 0.34p.
Mila Resources advances Yarrol gold project to pre-resource stage
Mila Resources (AIM:MILA) reported assay results from a 12-hole RC drilling programme at its Yarrol gold project, with multiple high-grade and wide gold intercepts returned. The company has moved directly into pre-resource modelling, with an initial Mineral Resource Estimate and preliminary economic work now under way. The shares slipped 5.6% to 1.18p.
Forgent takes five-month option to acquire 80% of Mount Sholl for A$2.7m
Forgent (AIM:FORG) entered into a binding exclusive option agreement with Raiden Resources and Pilbara Gold Corporate to acquire an 80% interest in the Mount Sholl nickel-copper-PGE project in Western Australia for A$2.7m, exercisable over five months. The option gives Forgent time to conduct due diligence on a project targeting battery and platinum-group metals in a well-established Western Australian mining jurisdiction. The shares fell 7.89% to 0.0175p.
Tertiary Minerals to drill 4,000m at Mushima North for maiden JORC resource
Tertiary Minerals (AIM:TYM) announced a 4,000m drill programme at its Mushima North copper project in Zambia, targeting the A1 deposit with the aim of generating sufficient data for a maiden JORC-compliant Mineral Resource Estimate. The programme is focused on converting the A1 Target into a defined resource. The shares gained 4.76% to 0.055p.
Premier African Minerals starts flotation of ROM ore at Zulu
Premier African Minerals (AIM:PREM) began flotation of run-of-mine ore at its Zulu lithium and tantalum plant in Zimbabwe, marking a key operational milestone in the restart of the processing facility. Managing director Graham Hill described the development as "a very positive step in the re-start of Zulu." The shares were broadly flat, edging down 0.87% to 0.0228p.
Bradda Head subsidiary Zenolith joins US Defense Industrial Base Consortium
Bradda Head Lithium (AIM:BHL) announced that its subsidiary Zenolith has been accepted into the US Defense Industrial Base Consortium, a body focused on securing domestic critical mineral supply chains. Executive Chair Ian Stalker said the membership strengthens Bradda's alignment with US efforts to reduce reliance on foreign sources of strategic materials, a significant positioning move for a company developing lithium assets in Arizona. The shares rose 3.16% to 2.94p.
Jangada Mines starts funded Phase 2 drilling at Molly Gold
Jangada Mines (AIM:JAN) commenced a fully funded Phase 2 drilling campaign at its Molly Gold Project, building on earlier work that identified potential to materially expand the existing 130,000 oz Au JORC resource at the Molly 1 deposit. Chief Executive Paulo Misk said recent drilling had already highlighted the deposit's growth potential. The shares added 2.09% to 1.123p.
