Metal Tiger plc (LON:MTR) shares advanced on Friday as it reported some good news from Botswana.
The firm revealed, via a drilling report, that the highest grade to date had been hit at the T3 project.
Its joint venture partner MOD Resources (ASX:MOD), which has 70% of the project, revealed one hole in the final batch of assays had hit 18 metres (m) at 4.3% copper and 94 g/t (grams per ton) silver from 146m.
The results bode well for the expected Phase 2 mineral resource upgrade expected later this month (January).
The current phase of drilling started in August last year, with approval granted for both diamond core (DC) and reverse circulation (RC) drilling at the T3 Project and its vicinity, through to December 2018.
It was one of a few small cap mining stocks, which produced news last week, in what was a shortened trading week.
Another was Thor Mining PLC (LON:THR), which said the due diligence programme is now in progress at the Western Shaw project in the Pilbara region of Western Australia.
The company has paid A$50,000 to acquire a 120-day option to take a 75% stake in the Western Shaw project for A$250,000; the project looks like it might host commercial quantities of gold and lithium.
In other news, Kibo Mining PLC (LON:KIBO) told investors that it remains optimistic the memorandum of understanding (MOU) entered into for the Mbeya Coal to Power Project will be completed.
It follows meetings during December in Tanzania, with the Ministry of Energy and the Tanzania Electric Supply Company (TANESCO).
The company noted that Tanzania has a different holiday schedule, with fewer working days over the Christmas period compared to the UK. Additionally, it said that it has decided to postpone its attendance at the Proactiveinvestors event on January 11.
Elsewhere, Bezant Resources plc (LON:BZT) confirmed that the final option payment has been made for two licences in Colombia.
The company's wholly owned subsidiary, Ulloa Recursos Naturales, held the option for the areas that are prospective for alluvial gold and platinum.
By paying the US$200,000 the company has secured a 100% interest in the project areas, FKJ-083 and HCA-082, meanwhile, the option over the 91ha HGE-082 licence following test pitting and sampling.
This week, Premier African Minerals revealed it was in talks over financing options for its RHA tungsten mine following December's output as it also updated on its plan to list the Zulu lithium project in London.
The miner said that while throughput last month exceeded the target of 6,000 tonnes in feed, the ore processed was largely from on-strike development at a diluted grade insufficient to achieve planned profitable production.
RHA will complete one final shipment before mid-January and will then suspend production until an agreement is struck to ensure its long-term future, it said.
Premier is now in discussions with the National Indigenisation and Economic Development Fund (NIEEF), which has a 51% interest in the project, to agree alternative financing options.
On the potential Zulu list, the group said it plans, subject to appropriate legal and taxation advice, to distribute (at nil cost) a substantial proportion of Premier's retained interest in the Zulu Newco at the time of listing.
Elsewhere, Ortac Resources Ltd appointed Jonathan de Thierry to its board of directors as a non-executive director.
De Thierry has 25 years' experience in mining and investment banking in Africa & Europe, and was a founder of Casa Mining, which has become Ortac's key asset.
He has significant experience of raising capital for exploration and development of major mining projects in the Democratic Republic of Congo.
Last but not least, marble quarries operator Fox Marble Holdings PLC (LON:FOX) inked a sales and purchase agreement covering the Gulf Cooperation Council (GCC) nations.
The three-year agreement with Shailesh Patil is subject to a minimum commitment of 3,000 tonnes of marble a year and confers upon Mr Patil the exclusive rights to sell Fox Marble's product in Oman, Qatar, Saudi Arabia, Bahrain, Kuwait and the United Arab Emirates.
Fox Marble said the minimum commitment under the agreement equates to roughly ?,?600,000 to ?,?800,000 a year.