Mining News
African Eagle Resources (LON:AFE) (AFE LN, 5.75p, ? 6.1%) have reported new nickel and cobalt drill results from the Ngasamo deposit at its Dutwa nickel project in Tanzania. It is hoped with the reulsts of this campaign, a 122 holes campaign for 8045 m completed in Q4 2011, that AFE will be able to expand Ngasamoas JORC resource and upgrade it from Inferred to Indicated. The results have already confirmed 80m thickness of mineralisation at Ngasamo and notble intercepts included: 66m at 2.09% nickel including 15 metres at 5.01% nickel; and 81m at 1.41% nickel including 18 metres at 3.37% nickel.
Arian Silver (LON:AGQ) Corporation (AGQ LN, 24.0p, ? 1.03%) announced it has issued 25,000 common shares of no par value in connection with the exercise of share purchase options at Cdn$0.10 per share. Application has been made for these shares to be admitted to London's AIM on 12 March 2012. As a result of this share issue, the Company has in issue 301,714,112 common shares, with voting rights.
Centamin (LON:CEY) plc (BUY, 142p) (CEY LN, 79.2p, ? 8.4%) announced that it has temporarily halted operations at its Sukari Gold Mine in Egypt due to illegal labour unrest. The illegal unrest and work stoppage commenced as a result of a breakdown in on-going discussions involving general salary increases and other benefits with some members of the Sukari workforce. The Company is continuing discussions and has the full support of the Egyptian Mineral Resources Authority and the Ministry of Petroleum.
Eastern Platinum (LON:ELR) Ltd (ELR LN, 32.9p, ? 7.1%) announced its financial results for the quarter and year ended December 31, 2011. Eastplats recorded a loss attributable to equity shareholders of the Company of $64,325,000 ($0.07 loss per share) in the quarter ended December 31, 2011 ("Q4 2011") compared to earnings of $5,041,000 ($0.01 per share) in the quarter ended December 31, 2010 ("Q4 2010"). Eastplats recorded a net loss attributable to equity shareholders of the Company of $76,545,000 ($0.08 loss per share) in the year ended December 31, 2011 ("12M 2011") compared to earnings of $13,352,000 ($0.02 per share) in the year ended December 31, 2010 ("12M 2010"). In 2011, the Company determined that the carrying value of CRM exceeded the expected net…
