Xstrata (LON:XTA) has green lighted a US$1.36 billion development project to build a new coal mine in Australia. The Ravensworth North open cut mine, will be developed within the existing Cumnock Coal and Ravensworth complex in the Upper Hunter Valley of New South Wales.
Anglo American (LON:AAL) announced the completion of the sale of its Skorpion zinc mine in Namibia to Vedanta Resources for cash proceeds of US$707 million.
Ferrexpo (LON:FXPO) has agreed a long term sales deal with Japan’s JFE Steel - the fifth largest steel producer in the world. It will sell around 300,000 tonnes of its 65 percent iron pellets to JFE every year.
Hochschild Mining’s (LON:HOC) growth path has now become much clearer, according to Fox-Davies analyst Peter Rose. Last week Hochschild sold its 6 percent equity stake in Lake Shore Gold Corp (TSX:LSG) for just under C$80 million. It sold 21.5 million shares for C$3.70 each. It initially bought these shares back in 2007, as part of a larger investment in Lake Shore. It made a 37 percent gain on the 21.5 million shares.
Randgold Resources (LON:RRS) reported that its recently commissioned Tongon mine in the north of Côte d'Ivoire was operating normally but that it was closely monitoring the political and security situation in the country.
Chief executive Mark Bristow said that access and security at and around the Tongon mine had thus far not been affected by the post election developments. While this has impacted on some of the construction work, the effect on the operation has been minimal, said the company.
Kalahari Minerals PLC (LON:KAH) is planning on moving to the main market of the London Stock Exchange from the Alternative Investment Market. Kalahari Minerals will take a tighter grip of uranium exploration group Extract Resources (ASX:EXT, TSX:EXT, NSX:EXT) after participating in a private placing.
Shares in diversified mining and exploration company Red Rock Resources PLC (LON:RRR) were lifted as investors welcomed an update on developments at its projects in Kenya and Colombia. The group also has interests in steel feed, uranium, and rare earths.
The £37 million takeover of Chromex Mining (LON:CHX) by Synergy Africa has been declared wholly unconditional. Synergy Africa is jointly owned by Finnish mid-tier natural resources firm Ruukki (LON:RKKI) and private investment company Kermas.
DiamondCorp (LON:DCP) undertook an additional placing that will take the total funds raised this week to £3 million. The company has placed almost 0.6 million shares at 8.5 pence each to raise nearly £50,000, following a placing announced on 7 December to raise £2.95 million via an issue of 34.7 million shares, also at 8.5 pence.
Nyota Minerals (LON:NYO, ASX:NYO) has discovered a feeder zone style mineralisation characterised by abundant visible gold and associated high gold grades at its Tulu Kapi gold project in Ethiopia. Nyota Minerals confirmed it had begun a 2,000 metre diamond drilling campaign on its Billa-Guliso and Yubdo licence areas in Ethiopia.
Electrum Resources (LON:ECR, OTC:MTGDY) has changed its name to ECR Minerals PLC and announced a placing of 100 million new shares at 1.4 pence each per share to raise up to £1.4 million before costs.
Thor Mining (LON:THR, ASX:THR) issued a statement to the London Stock Exchange, reiterating what it told investors on the Australian Securities Exchange in response to a massive share price spike.
In a filing with the ASX it had said there was no material information that has not been announced to the market, and it was not in possession of any information requiring an announcement.
Prosperity Minerals (LON:PMHL) shares advanced over 7 percent after it announced a new joint venture to acquire iron ore exploration and mining interests in Brazil.
African Eagle Resources (LON:AFE) confirmed that the Anglo Pacific Group (LON:APF, TSX:APY) has further increased its stake in the company.
Hummingbird Resources (LON:HUM) has joined the AIM market of the London Stock Exchange following a placing of shares at 167 pence to raise £25.5 million before expenses.
African Aura Mining (LON:AAAM, TSX:AUR) has filed a NI43-101 technical report for its 100% owned New Liberty gold project in western Liberia.
Metminco (LON:MNC, ASX:MNC) has announced the appointment of William Howe as managing director and of FTSE 100 specialist banking group Investec (LON:INVP) as nominated advisor and broker to the AIM market. Metminco now has full control over Hampton Mining’s South American assets, thus paving the way to accelerate exploration at the Los Calatos copper project. The company told investors that it has now completed the deal to buy the remaining equity in Hampton, and it has concurrently completed its A$30 million fund raising. It has now issued 150 million new shares.
Edenville Energy (LON:EDL) noted the recent movement in its ordinary share price and stated that it was not aware of any information about the company that would lead to such a movement in the price of its ordinary shares.
Investors are naturally interested in Solomon Gold (LON:SOLG) and its Fauro project in the Solomon Islands which has the potential for a significant discovery, according to research by Fairfax Securities.
Ariana Resources (LON:AAU) said its joint venture partner Proccea has taken its first steps to earning into the Red Rabbit project in Turkey by injecting cash into the joint venture vehicle Zenit. Zenit’s registered capital moves to US$5.59 million, taking Proccea’s stake to 11 per cent.
Dublin- and London-listed Ovoca Gold PLC (LON:OVG, ISE:OVX) said the Russian state regulator has extended the Rassoshinskaya exploration licence for two years to February 15 2013, and it reported it has a strong cash position.
Patagonia Gold (LON:PGD) revealed that a fourth drill rig is expected on site in the first quarter of next year as its exploration programme in the Santa Cruz province of Argentina continues to deliver impressive results.
ZincOx (LON:ZOX) Korean Recycling Project (KRP) is beginning to gain momentum as the company has now secured a 50 year lease for the project.
Altus Resource Capital (LON:ARCL) has taken a 3.45 percent stake in Minera IRL (LON:MIRL, TSX:IRL, BVL:MIRL).
Sunrise Resources’ (LON:SRES) newly acquired projects are generating news flow and attracting a broader investor interest, according to chairman Patrick Cheetam.
Triple Plate Junction (LON:TPJ) shares shot up over 22 percent after its only self-operated gold project was re-issued exploration rights. It can now resume work on the Pu Sam Cap gold-copper project in Vietnam.
Beowulf Mining (LON:BEM) emphasised that it is very fortunate to have a 'Rainbow of Resources', particularly with peak iron, copper and gold prices. It also highlighted that uranium prices are recovering strongly. For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment