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Avocet agrees loan increase

Avocet Mining (AVM) has announced that it has agreed, subject to certain conditions precedent, to increase the amount available pursuant to the US$2.1 million loan announced on 24 April 2015 (“the Third Elliott Loan Facility”) up to, in aggregate, US$2.4 million. The increase is to provide additional working capital to the Company in respect of […]

Mining Roundup

Avocet Mining’s (LON:AVM) gold production for the first quarter totalled 17,011 ounces at a cash cost of US$1,113 per ounce. This compares with 19,503 oz produced in the fourth quarter of 2014 at a cash cost of US$1,052 per ounce. Output in the first quarter of 2014 totalled 23,148 oz. Avocet said milling of ore […]

GoldStone update on Ghana project

GoldStone has issued an update of its operations and planned exploration at its Homase/Akrokerri project in Ghana. Highlights: · Auger sampling programme successfully completed over eight high-priority gold targets close to and along strike from the company’s 602,000 ounce Homase/Akrokerri gold deposit · 1,332 auger holes drilled to a maximum depth of 3m · Results […]

Avocet output falls

Avocet Mining’s gold production for the first quarter totalled 17,011 ounces at a cash cost of US$1,113 per ounce. This compares with 19,503 oz produced in the fourth quarter of 2014 at a cash cost of US$1,052 per ounce. Output in the first quarter of 2014 totalled 23,148 oz. Avocet said milling of ore resumed […]

Central Rand Gold to raise £0.6m

Central Rand Gold is raising £0.60m through a placing of 2,550,000 new ordinary shares and the subscription of 3,465,000 new ordinary shares at 10p apiece. The placing and subscription are conditional on approval at an extraordinary general meeting on 17 June. The proceeds will be used primarily to strengthen the company’s balance sheet and provide […]

Mining Roundup

Caledonia Mining (LON:CMCL) shares rose after it announced an increase and upgrade to the resource base at its 49%-owned subsidiary, the Blanket Mine in Zimbabwe. Based on the drilling that has been completed at depth below the AR Main and at Blanket Sections over the past year, it has been possible to upgrade 491,000 tonnes […]

SOLG says Hole 11 visuals extend rich copper gold zone

SolGold has provided an update in relation to the overall strategy and management of the on-going exploration of the Company’s flagship Cascabel Project in Ecuador. HIGHLIGHTS: Ø Strong visual copper mineralisation encountered at 996m and variably continues to current hole depth at 1,128m (open). Ø Strongly mineralised zone now extends a NW-SE strike of over […]

Mining Sector: CoAL jumps on mining right for flagship Makhado project

Coal of Africa Limited (LON:CZA) was the sector’s biggest riser after it was granted a new order mining right for its flagship Makhado hard coking and thermal coal project in Limpopo Province by the South African Department of Mineral Resources. The DMR has also granted the section 11 approval transferring the right from CoAL to […]

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