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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Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
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Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
