Resources round-up: Edge, Creon, Orsu Metals and CIC

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.

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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