Resource round-up: Triple Plate, Sable Mining, Magnolia

Also includes: Kea Petroleum, Herencia Resources

Shares in gold miner Triple Plate Junction plunged 20% on Monday morning after it said drilling would be suspended at its Morobe project in Papua New Guinea for six months after it failed to strike gold. The firm said it would carry out additional fieldwork in the meantime and said "it must be remembered that we have only drilled eight holes and at what is a colossal exploration project with many prospects. To have hit a massive intersection in the first few holes was always an ambitious hope."

Meanwhile AIM-listed Sable Mining Africa announced "highly encouraging initial results" from its early stage surface sampling and mapping programme on its 532 sq km Kpo Iron Ore Project in northern Liberia. "These initial surface sample findings, which includes high grade material of up to 68.3% [iron], demonstrates the Kpo Project's potential to be a major new iron ore discovery," said Chief Executive Andrew Groves.

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