Oil and Gas Corporate News
Chariot Oil & Gas (CHAR, 185.5p, ? 1.78%) announced the results from its latest independent Competent Person's Report from Netherland Sewell & Associates Inc. which reports gross P50 unrisked prospective resource volumes of 14.4Bnbbls with gross mean unrisked prospective resource potential of 16.1Bnbbls, a slight increase of 3.5% or 535mmbbl, within Chariot's licence areas offshore Namibia. The Probabilities of Success are in line with Chariot's risking.
Nostra Terra (LON:NTOG) Oil & Gas (NTOG, 0.65p, ? 9.09%) announced that it has successfully raised £2,000,000 before expenses by way of a placing of 333,333,335 new ordinary shares of in the Company at 0.6 pence per new Ordinary Share. The Placing was undertaken with existing and new investors. The net proceeds of the Placing will be used for working capital purposes.
Mining Corporate News
Berkeley (LON:BKG) Resources (BKY, 27p, ? 10.2%) announced that it intends to enter into a shareholders' agreement with Ng'wena Mining Resources Ltd to acquire a 76% interest in the Luanshya copper tailings. The shareholders' agreement will also be conditional upon the grant of the appropriate mineral processing rights. Total consideration for the asset is US$6 million, of which US$1.75m is payable on completion with the balance of US$4.25m payable in 2012. A report completed in 2008 concluded that the three tailings Dams contained SAMREC- and JORC- Indicated resources of 162Mt of tailings material at a copper grade of 0.24%, in total containing 380,700 tons of copper metal. Metallurgical test work carried out showed the tailings were amenable to processing by leaching of the oxides followed by flotation of the sulphide minerals.
Serabi Mining (LON:SRB) (SRB, 28.38p, ? 0.0%) the Brazilian focused gold exploration Company is pleased to announce the appointment of Fox-Davies Capital Ltd as Broker to the Company with immediate effect.
Tri-Star Resources (LON:TSTR) (TSTR, 0.77p, ? 0.0%) is pleased to announced it has extended its prospecting area in close proximity to the Company's existing mine site in the Goynuk area of Kutahya, Turkey by acquiring a further licence to the north and east of the Goynuk Mine covering 685.9 Ha. The new licence area covers rocks of the same geological sequence as the Goynuk Mine and will provide both additional exploration potential and additional access to surface areas for…
