Kea Petroleum's drilling programme in the Taranaki basin of New Zealand has been delayed due to extreme weather conditions in the region. The programme to drill Mauku, which as previously advised requires challenging access and site preparations, is the worst affected area. The intention was to begin the drilling of Mauku with a shallow drilling rig, but Kea may now proceed to drill the entire hole with the bigger rig later. The company is now considering whether to drill the Douglas 1 well before Mauku as the site is already prepared. Puka 1 is now expected to start drilling later next week.
Arian Silver has reported an increase in resource tonnage along the San Jos Vein in Mexico. Contained ounces of silver are up 32%, lead resources are up 29% and zinc resources are up 30% compared to the previous estimates made in July of last year. The firm said the results "are positive indicators" for expanded future mining plans at San Jos, which it believes has "much more resource upside to offer". The site has an indicated mineral resource of 8m tonnes and an inferred mineral resource of 24.5m tonnes.
Thor Mining has reported a half-year loss of £0.47m compared to a loss of £0.57m for the same period the previous year, with the improvement almost entirely down to the absence of a £117,000 share based payment expense this time round. Cash at the end of the half year was £236m compared to £701m a yar earlier, despite the company raising £0.79m through a share placing during the reporting period. Since the period end the company has raised a further £0.57m through another share placing.
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The firm's definitive feasibility study of the Molyhil project saw an overall increase of 25% in the resource estimate to 4.7m tonnes, an increase in the tungsten recovery estimates and projected revenue increases of $7.0m per year over the life of the mine.
Potash miner Sirius Minerals has intersected two separate high grade seams of polyhalite, a hydrated sulphate of potassium, calcium and magnesium. The second new bore hole in the York Potash project was cored with 100% recovery throughout almost its entire thickness, which the firm said indicates that the new bore holes are confirming the geological continuity throughout the project area.
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Pension withdrawals on the rise, HMRC data reveals
Pension withdrawal data has led to some raising concerns over savers ‘raiding’ their pensions unsustainably.
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ONS: UK economy recovered from pandemic faster than previously thought
Revisions from the ONS showed the UK economy has grown since the pandemic, while the latest data showed GDP grew in the second quarter of 2023.
