China to build over 50,000 5G base stations across 50 cities in 2019: MIIT

[SMM PGM Flash] Tharisa said on 25 September that the net proceeds of its US$300 million, five-year secured bond had been placed in escrow after a major settlement condition was met. Issued through Arxo Finance at 98% of face value, the bond carries an 11% coupon. Tharisa intends to use the proceeds to complete its Karo Platinum project in Zimbabwe, subject to the remaining conditions for releasing the money. The escrow step advances financing for a proposed source of platinum group metals on Zimbabwe’s Great Dyke. The money has not yet been released to Tharisa, and Karo is not a completed mine. The company targets first ore to Karo’s mill in the fourth quarter of 2027; both the drawdown and that operating milestone remain ahead.

[SMM Gold Flash] Montage Gold reported a first gold pour at its Koné mine in Côte d’Ivoire on 26 September, yielding approximately 1,140 ounces. Announcing the milestone on 27 September, the company said more than 400,000 tonnes of ore had passed through the oxide circuit since feed began on 8 September. The pour came ahead of the mine’s original second-quarter 2027 target following early completion of that circuit. The pour establishes that gold has been produced, but it does not establish commercial production or a sustained production rate. Montage expects the oxide circuit to reach commercial production in the fourth quarter of 2026. Its separate hard-rock comminution circuit remains under construction, with completion targeted for the second quarter of 2027. Koné’s contribution to Côte d’Ivoire’s supply will depend on how those circuits ramp up.