Oil and Gas Corporate News
Petro Matad (LON:MATD) (MATD, 133.5p, ? 3.61%) announced its audited results for the year ended 31 December 2010. Highlights: 5 wells to-date drilled on Davson Tolgoi each of which has encountered hydrocarbons; Full drilling and testing programme scheduled for Davson Tolgoi during 2011; Exploration continues elsewhere on Block XX and on Blocks IV and V; Headcount increased from 26 to 80 including in-house exploration and engineering expertise; and broadened shareholder register with an aggregate of c.$54 million raised since last Annual Report.
Mining Corporate News
Conroy Gold and Natural Resources (CGNR, 4.38p, ? 0.0%) announced that it has received results from two additional drill holes completed in its ongoing 3,500 m infill drilling programme at its Clontibret gold project in Co. Monaghan, Ireland. The infill drilling is designed to enhance the resource, evaluate possible strike and down-dip extensions and to provide material for metallurgical test work. Best results include 8.40 metres at 2.00 g/t gold and 6.80 metres at 1.20 g/t.
Solomon Gold (LON:SOLG) (SOLG, 16p, ? 3.76%) announced a further Resource Estimate Upgrade for its 100% owned Central Rannes Prospects; Crunchie and Kauffmans-Homestead, in Central Queensland, Australia. The Inferred Resource increased by 34% to 14.81 Mt at 1.14 g/t gold equivalent for 543,858 oz of contained equivalent gold (gold to silver ratio of 1 : 40 and a 0.35g/t gold equivalent cut-off grade). The Kauffmans-Homestead resource component remains open at depth, below the existing drilled intersection and estimated resource. The drilling campaign is to continue on targets in the Central Rannes Area.
BHP Billiton (LON:BLT) (BLT, 2258.5p, ? 0.24%) coking coal mines in Australia face further rolling strikes in a move that could buoy prices of the raw steelmaking commodity if the mining giant's production is cut. Three labor unions representing more than 3,000 workers have given notice that they intend to stage strikes during the night shifts Friday, Saturday and Sunday at six mines in Queensland state. The mines are jointly owned by BHP and Mitsubishi Corp. (8058.TO). The company has been locked in negotiations with the unions over a new employment agreement for workers, and the sides have been divided over union demands for equal pay for contract workers and employees, and a say in recruitment, among other things. Each of the six mines…
