Mining News
Berkeley Resources (LON:BKY) (BKY AU, A$0.35, ? 0.1%) have announced they consider Enusa to be in default after it did not form Newco on the agreed date yesterday, despite Berkeley believing they have addressed all of Enusa?s concerns regarding the Mining Domain Feasibility Study. Discussions will continue between the two companies.
Gemfields (LON:GEM) plc (GEM LN, 24.6p, ? 1.0%) has released an operational update for the 3 months ending 31 Dec 2011 for its 75% owned Kagen emerald mine. Ore mining rates reduced in the period because the company focussed on a waste moving programme to facilitate targeting new areas for future production. Gemstone production therefore came in at 3.9M carats compared to 4.9M carats in the prior quarter and production costs per carat increased to US$0.87 versus US$0.79.
Noventa (LON:NVTA) Limited (NVTA LN, 14.75p, ? 4.8%) has announced its application for voluntary delisting of its ordinary shares from the Toronto Stock Exchange ("TSX"). It is expected that the ordinary shares will be delisted from the TSX at the close of trading on or about Thursday, 8 March 2012.
Red Rock Resources (LON:RRR) PLC (RRR LN, 2.85p ? 0.2%) has announced that it has placed 39,269,231 new ordinary shares of 0.1p each (the "Ordinary Shares") at a price of 2.6 pence per share to raise £1,021,000 before expenses the ("Placing"). The net proceeds of the Placing will be applied towards assuring funding is in place to meet commitments for the upcoming exploration season in Greenland and for pursuit of investment opportunities that may arise that match the Company's investment criteria.
Norseman Gold (LON:NGL) PLC (NGL LN, 4.6p, ? 0.1%) announced an update with regards to its restructuring process, following the Company's agreement with Australian resource specialist Tulla Resources Group Pty Ltd ('Tulla') announced on 16 February 2012. Tulla and Norseman Gold have commenced the site re-organisation and are moving rapidly to establish the profitable mine strategy with Tulla assuming management and operational control of the Norseman Gold Project's entire site. The restructuring process is aimed at lowering operating costs, ensuring Norseman Gold develops into a consistent 100,000 ounce producer within two years and increasing the Company's current resource inventory of 3.4 million ounces of gold…
