Pan African Resources, Great Southern Copper, Buccaneer Energy, Rome Resources, Sovereign Metals
Pan African Resources PLC (LSE:PAF, OTCQX: PAFRY, JSE:PAN) posted record first-half profits of US$147.8 million with production up 51%. Net debt is down nearly 70%, and the company expects to be in a net cash position by month end. Great Southern Copper PLC (LSE:GSCU, FRA:E9E) reported high-grade copper hits at the Mostaza deposit at the Cerro Negro project in Chile. Management says the system is growing at depth and could link into a much larger deposit. Buccaneer Energy Plc (AIM:BUCE, FRA:LMU1) doubled production at its Pine Mills field in Texas in a successful organic oil recovery pilot. Water cut dropped sharply, boosting output and potentially improving cash flow. Rome Resources Plc (AIM:RMR, FRA:33R) delivered more high-grade tin intercepts at Kalayi in the DRC. Hit rates and widths are improving, with grades comparable to Alphamin’s nearby Mpama mine. Sovereign Metals Ltd (ASX:SVM, OTCQX:SVMLF, AIM:SVML, FRA:SVM) signed an MoU with Traxys for graphite from Kasiya project in Malawi. Management says the project could become the world’s largest natural flake graphite producer. Follow us and subscribe on YouTube, our social channels and on proactiveinvestors.co.uk.