Edge Resources, an oil and gas exploration, development and production company, has purchased two undeveloped sections of land covering 1,280 acres for a cash payment of 60,000 dollars and a non-convertible overriding royalty of three per cent. The transaction was made at the start of June this year. "These two sections fit perfectly within our existing asset, where we have now created a large, enviable land position," the firm said.
CIC, the consulting and advisory firm operating primarily in the mining and energy infrastructure sectors, has reported that following a 48-day leaching period, the Shanba gold mine in China has produced 3,825 ounces gold, with a further three-heap leach due to complete final leaching in the near future. A total of 4,790 ounces gold has been produced to date. The company is planning to cover the mine and processing equipment costs, which are expected to total $8.3m, from initial gold production. Once these are paid the company will receive a diviend from Shanba, although shareholders will have the choice to fund increased oxide gold production at its various gold leases.
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Resources investment firm Creon has entered into a joint venture with a multi-billion dollar China based shipbuilding giant, Yangzijiang Shipbuilding, in the offshore oil and gas infrastructure sector. Under the terms of the JV, Creon and YZJ Holdings will each invest into the joint venture company, YZJ Offshore Engineering, a Singapore registered company. Creon will invest $15.33m, with YZJ Holdings and its associates investing a further $14.67m. As at June 30th 2012, YZJ Offshore had net assets of around $2.85m and made an operating loss of around $0.15m in the six month period to June 30th 2012.
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More pensioners dragged into 60% tax trap – could you be caught?Frozen thresholds are pushing more older workers into paying income tax at levels much higher than the headline rate, new figures show. We look at why and how you can avoid being caught in the 60% tax trap.
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Higher earners face £377 bill if Reeves puts up income tax – do you fit the Treasury’s definition of ‘working people’?Labour’s election manifesto pledged not to raise National Insurance, VAT or income tax but prime minister Keir Starmer appeared reluctant to repeat the promise this week
