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Mining Sector: AFCR to make contribution to Dalny costs

African Consolidated Resources (LON:AFCR) was the sector’s biggest faller after it announced that it has agreed to make a contribution to Falcon Gold Zimbabwe’s care and maintenance costs on the Dalny mine. AFCR has agreed to further extend the date for payment of the outstanding consideration (being a net cost of UD$7.5m) for the mine […]

AFCR to make contribution to Dalny costs

African Consolidated Resources has agreed to make a contribution to Falcon Gold Zimbabwe’s care and maintenance costs on the Dalny mine. AFCR has agreed to further extend the date for payment of the outstanding consideration (being a net cost of UD$7.5m) for the mine and associated infrastructure until 31 October. AFCR says that in view […]

EMED COO buys 1mln co. shares

The Chief Operating Officer of EMED Mining, Alberto Lavandeira, purchased 1 million ordinary shares in the company at an average price of C$0.135, on 19 August 2014. At 10:12am: (LON:EMED) EMED Mining Public Ltd share price was +0.25p at 7.5p Story provided by StockMarketWire.com

EMED Mining completes £13.1m subscription

EMED Mining has completed the £13.1m subscription by cornerstone investors, Yanggu Xiangguang Copper Co and Orion Mine Finance (Master) Fund I LP. The company confirmed that 181,200,000 new ordinary shares have been admitted to trading on AIM with 140,000,000 ordinary shares being subscribed by Orion and 41,200,000 being subscribed by XGC. Story provided by StockMarketWire.com

Mining Sector: Galantas Gold down after first half net loss

Galantas Gold Corporation’s (LON:GAL) shares fell after it posted a net loss of C$798,703 for the six months to the end of June – up slightly from C$798,217 last time. The net loss for the three months ended 30 June amounted to C$296,603 (2013 Q2: C$357,663) and the cash loss from operating activities before changes […]

Beijing Haohua Energy Resource to buy shares in Coal of Africa

Coal of Africa has responded to the recent announcement on the Shanghai Stock Exchange by Beijing Haohua Energy Resource Co. Ltd that one of its subsidiaries plans to acquire not more than 215 million shares in the Company for a maximum price of 5.5 pence per share. The Company stated in its interim financial results, […]

Mining Sector: Beacon Hill down after funding update

Beacon Hill’s (LON:BHR) shares fell after the group said talks with parties interested in providing a proposal for an equity investment continue. The company said the board remains confident it will achieve the required funding to complete the wash plant upgrades. The group says that a limited number of parties have been granted access to […]

EMED Mining raises £13.1m

EMED Mining has raised £13.1m following a subscription agreement with two of its cornerstone investors, Yanggu Xiangguang Copper Co Ltd and Orion Mine Finance (Master) Fund I LP. The agreement sets out the basis on which XGC, through its wholly owned subsidiary Hong Kong Xiangguang International Holdings Limited, and Orion have conditionally agreed to provide […]

EMED Mining raises £13.1m

EMED Mining has raised £13.1m following a subscription agreement with two of its cornerstone investors, Yanggu Xiangguang Copper Co Ltd and Orion Mine Finance (Master) Fund I LP. The agreement sets out the basis on which XGC, through its wholly owned subsidiary Hong Kong Xiangguang International Holdings Limited, and Orion have conditionally agreed to provide […]

Centamin downgraded by Numis

Numis has downgraded its recommendation on gold miner Centamin (LON:CEY) to ‘hold’ from ‘buy’ on price appreciation and following yesterday’s second quarter results. The broker said that the results were a miss, with earnings per share coming in at 0.99c (down 47 per cent quarter-on-quarter and down 79 per cent year-on-year), mainly due to a […]

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