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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 […]

Alba Mineral appoints Nomad and broker

Alba Mineral Resources has appointed Cairn Financial Advisers LLP as the company’s nominated adviser and Dowgate Capital Stockbrokers as broker with immediate effect. At 9:15am: (LON:ALBA) Alba Mineral Resources PLC share price was +0.03p at 0.78p Story provided by StockMarketWire.com

FTSE up on property, financial stocks as Wall St rises

FTSE indices closed up with commercial property, financial and some resources stocks lending northbound support, following disappointing euro zone GDP data and a firm start to trade on Wall St. Investors expect UK GDP to book quarterly growth of 0.8% tomorrow. At the close, the FTSE 100 was up 28.58 points, or 0.43%, to 6685.26. […]

Mining Sector: Mariana slides after scout drilling results

Mariana Resources (LON:MARL) was the sector’s biggest faller after the latest scout drilling results at the Condor de Oro copper-gold-molybdenum project in Peru failed to find any economically viable mineralisation. But it says the strong potassic alteration, late stage intrusives and phreatomagmatic mineralised breccias are all positive indications for a deeper mineralised intrusive core and […]

Pan African Resources appoints joint broker

Pan African Resources, the African focused precious metals producer, has appointed Peel Hunt as joint broker with effect from 1 September. The company has also appointed Bell Pottinger and Aprio Strategic Communications as its London market and South African-based communications advisers respectively. At 1:12pm: (LON:PAF) Pan African Resources PLC share price was -0.12p at 15.38p […]

Avocet Mining raises £0.7m

Avocet Mining has conditionally raised £0.7m, before expenses, through a placing of 9,950,000 new ordinary shares at 7.13p apiece. The placing funds will be used for corporate activities. Following commissioning of Inata’s new carbon blinding circuit, which is scheduled in September and is forecast to increase monthly production and improve cash generation, the vompany will […]

Mining Sector: Sunrise falls after update on projects

Sunrise Resources’ (LON:SRES) shares fell following an update on its Cue and Corona projects. Sunrise says it is pleased that drill sampling had confirmed the Soapy Bore kimberlite at the Cue diamond project to be diamondiferous, as is the case for all kimberlite samples tested so far there. “The size distribution of the recovered diamonds […]

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