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Fortuna Mining says Burkina Faso will not withdraw existing permits
By Divya Rajagopal and Srivastava Vallari
Reuters
Monday, October 7, 2024
Fortuna Mining said today that the government of Burkina Faso does not plan to withdraw the Canadian company's existing mining permits in the country.
Junta leader Ibrahim Traoré said Saturday that Burkina Faso planned to withdraw mining permits from some foreign companies and would seek to produce more of its own gold, without specifying which permits would be canceled.
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Power Nickel Announces Assay Results from its Polymetallic Lion Zone Discovery
Company Announcement
Tuesday, October 1, 2024
TORONTO -- Power Nickel Inc. (TSXV: PNPN, OTCBB: PNPNF) announces the assay results obtained for the first five holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery.
"We announced that our summer exploration program had expanded the Lion Zone by 50% and today we provide the first assays from the program," CEO Terry Lynch said. "The results were obtained from targets we now realize were outside the main Lion Zone in what we refer to as the Halo area. Holes 63, 66, and 67 still delivered great value to the project. Five meters of 5.93% copper equivalent are excellent in Hole 63 and 66-67 both showed a very sizeable section of 12 meters of 2.97% and 2.36% copper equivalent respectively.
"After this set of holes we retargeted the drills at a lower pitch further west and once again found the main Lion Zone. Assays on these holes are pending." ...
... For the remainder of the announcement:
Shares of gold miners with projects in the West African country slumped sharply in Monday trade at the Toronto Stock Exchange, dragging down the entire index.
Shares of Fortuna Mining were down 9% at 3:25p ET. Orezone Gold Corp., which owns the Bombero gold mine, was also down 9% at the TSX.
Gold miner Endeavour Mining said Traor discussed several topics on Saturday to commemorate two years of his presidency and made a reference that certain mining permits may potentially be revoked.
However, Endeavour said the government remains supportive of the company and it is not aware of any plans to revoke any of its mining permits.
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