Latest Base Metals News

GR Engineering Services has been named preferred contractor for the A$295 million Sulphur Springs Copper-Silver-Zinc Project in Western Australia, marking a significant addition to its growing EPC portfolio.

Hammer Metals (ASX:HMX) has voluntarily suspended trading of its shares pending an announcement about a potential material corporate transaction that could change control of the company.

Orion Minerals has completed the conversion of a ZAR344.5 million loan from South Africa’s IDC into equity, giving IDC a 23.8% stake in the Prieska Project subsidiary and removing secured lending constraints.

Anax Metals has closed the second tranche of its placement, raising $4.8 million through a share issue that included $1.1 million from directors and granted options to its lead manager.

Orion Minerals has secured $15.4 million in a placement to accelerate development at its Prieska and Okiep copper projects in South Africa, paving the way for its transition to a copper producer.

Variscan Mines (ASX:VAR) has secured $690,000 in the first tranche of a $5 million placement, issuing 174 million shares at $0.004 each to new sophisticated investors. The capital raise supports ongoing development at the Novales-Udias zinc-lead project in Spain, which recently reported a JORC resource.

Peel Mining has formally moved forward in its acquisition by Aeris Resources with the dispatch of the Scheme Booklet to shareholders, setting the stage for critical meetings on June 15.

American West Metals has published a detailed JORC 2012-compliant Mineral Resource Estimate for its West Desert Zinc-Copper-Indium-Magnetite Project in Utah, affirming solid resource continuity and robust sampling techniques.

Sunshine Metals is set to transform its gold production profile with the $18 million acquisition of the Mt Moss processing facility and a $22 million capital raise to fund expansion and exploration.

American West Metals reported a 20% increase in contained copper at its Storm Copper Project and intersected promising skarn mineralisation in initial West Desert drilling, highlighting significant exploration upside across its North American base metals portfolio.

Anax Metals’ updated DFS for Whim Creek reveals a 113% surge in free cash flow to A$723 million, underpinned by a decade-long mine life and rapid payback. The company’s $10 million capital raise strengthens its balance sheet following full repayment of a $3.5 million loan.

Oceana Metals is set to transform its portfolio with the acquisition of the Serra Negra rare earths and niobium project in Brazil, backed by a $20 million placement to fund aggressive exploration.