This week in Stockopedia’s Hard Hat Wrap, African Aura Mining (LON:AAAM), reported that a recently completed airborne geophysical survey undertaken across its Nkout, Ngoa and Akom iron ore projects in southern Cameroon had defined a major iron ore target close to Nkout.

African Consolidated Resources Plc (LON:AFCR), the AIM listed resource development company working in Zimbabwe, published a maiden JORC resource statement for its Blue Rock gold project, located in the Gadzema greenstone belt near Chegutu. The resource totals 8.5m tonnes @ 1 g/t for 270,000 oz, using a cut-off grade of 0.6 g/t. ACR's total JORC compliant gold resources at its Pickstone-Peerless, Giant and Blue Rock projects now 1,085,000 ounces.

Altona Resources (LON:ANR), the Australian based energy company, said it was making progress towards meeting the regulatory requirements connected with its JV with Chinese oil company, CNOOC-NEI, over the Arckaringa coal project. Altona has successfully completed the extension and transfer of interests in the exploration licences central to the JV and confirmed that the appointment of the Study Engineer was currently pending the completion of CNOOC-NEI approval processes. CNOOC-NEI is taking on a 51% stake in Arckaringa in return for its full funding of a bankable feasibility study there.

Amur Minerals Corp (LON:AMC), an exploration and development company focused on Far East Russia, entered into an agreement with broker Hybridan to raise up to £1.236m in a placing of shares priced at 3.5p each.

Anglesey Mining (LON:AYM) made a profit last year of £8.2m following the sale of shares in its Labrador Iron Mines (LIM) subsidiary, which took its holding from 50% to 41%. LIM is a TSX quoted Canadian company developing 150m tons of direct shipping hematite iron ore near Schefferville in Canada, with production due to commence later in 2010. Elsewhere, Anglesey owns 100% of the Parys Mountain copper-lead-zinc project in North Wales with a total historical resource of 7.76 million tonnes at 9.3% combined copper, lead and zinc.

Aquarius Platinum Limited (LON:AQP) said it would be appealing against a new directive from the Principal Inspector of Mines in the North West region of South Africa concerning bord and pillar mining techniques. The new rules were triggered after five people were killed at Aquarius’s Marikana mine in a “fall of rock” incident earlier in…

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here