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Oil & Gas News
Mining News
Chalice Gold Mines Limited (CHN ASX, A$0.295, -3.3%) advised that further high-grade gold intercepts have been received from diamond drilling at the Debre Konate prospect, situated immediately south of the Koka Gold Deposit at its Zara Project in northern Eritrea. Best intersections include 4m @ 11.45g/t Au from 94m, 1m @ 12.55g/t Au from 119m, 1m @ 22.42g/t Au from 129m and 1m @ 30.55g/t Au from 163m.
Continental Coal (LON:COOL) Limited (CCC LN, 12.63p, 0.0%) provided an update on operating and financial performance at the Vlakvarkfontein and Ferreira Coal Mines and Delta Processing Operations in South Africa. During the month of November 2011, ROM coal production of 61,660 tonnes was achieved at the Ferreira Mine, 3% above the average monthly ROM production in the previous quarter. The Delta Processing Operations processed a total of 102,090 tonnes for the month, a 17% increase on the average monthly plant feed rate in the previous quarter. The Vlakvarkfontein Coal Mine achieved ROM coal production of 111,142 tonnes, an 18% increase on the average monthly tonnes of ROM production in the September 2011 quarter. Thermal coal sales from the Vlakvarkfontein Coal Mine to the South African domestic market of 105,807 tonnes of thermal coal were made during the month.
Copper Development (LON:CDC) Corporation (CDC LN, 16.75p, -5.63%) (UNDER REVIEW) has resolved to establish a share buyback programme. Accordingly, the Board has delegated the administration of the programme to an investment committee who will have the discretion to buy back up to 10% of the Company's issued shares over the next twelve months when the price at which the Company's shares trade is deemed by the investment committee to be at a significant discount to the Company's net asset value. It is the intention that any shares bought back will either be cancelled or re-issued at a later date. The Company also announces that its pre-feasibility study for the Hinoba-an Copper Project is now scheduled for completion in mid-February 2012, when additional metallurgical testing on low-grade ore samples will be completed.
Rambler Metals (LON:RMM) & Mining Plc…
