Mining News
Amur Minerals (LON:AMC) Corporation (AMC LN, 8.55p, ? 3.66%) announced that it has conditionally raised GBP5,480,800 by way of a subscription by existing shareholders and new investors for a total of 68,510,000 ordinary shares at 8p each. The proceeds of the Subscription will be used to fund bespoke metallurgical and engineering studies to be conducted concurrently with the 2012 drilling season at Kun-Manie.
Horizonte Minerals (LON:HZM) plc (HZM LN, 15.0p, ? 4.00%) announced that further to the announcement on 12 July 2011, the Company had entered into a definitive agreement with respect to the purchase of the Vila Oito and Floresta nickel laterite projects. Horizonte has now completed this purchase for total consideration of 8.5 million new ordinary shares equating to C$2 million based on the 20 day average price to 10 January 2011.
Paragon Diamonds (LON:PRG) Limited (BUY, 34p) (PRG LN, 31.0p, ? 0.80%) announced further micro-diamond results from 4 samples totalling 863 kg. A total of 1,641 diamonds (1.90/kg) were recovered weighing 0.9841 carats, equivalent to 1.14 carats per tonne. Samples were taken to extend the reach of sampling along the strike of the Motete Dyke.
Stratex International (LON:STI) Plc (UNDER REVIEW) (STI LN, 7.63p, ? 3.17%) announced that AngloGold Ashanti Ltd and Thani Ashanti have subscribed for additional shares in the Company in order to maintain their equity stakes following the issue of shares for the acquisition of Silvrex Limited. AngloGold has subscribed for 1,375,000 Stratex Ordinary shares at 8.0p raising £110,000. This increases their holding in the Company to 41,785,104 ordinary shares and maintains their percentage shareholding at 11.5%. Thani has subscribed for 260,000 Stratex Ordinary shares at 8.0p raising £20,800. This increases their holding in the Company to 7,983,669 ordinary shares and maintains their percentage shareholding at 2.2%.
Weatherly International (LON:WTI) Plc (WTI LN, 6.25p, ? 6.38%) presented a progress report on the Tschudi Feasibility Study. The total Resource increased 5% to 50.1mt at 0.86% copper (up from 47.7mt at 0.85% copper) and a maiden open pit reserve of 22.2mt at 0.87% copper has been delineated. The Reserves support an 11 year life of mine producing 15kt copper per annum. The feasibility study is due for completion in…
