Resources round-up: New World, CSS Stellar, Galileo Resources

Also included in the round-up is Scotgold Resources.

New World Oil and Gas, an oil and gas sector investor, has completed a Farm-Out Agreement with Danica Resources to acquire an initial 12.5 per cent (and up to an 80 per cent) working interest in the highly prospective 6,420 sq km licence 1/08 in southern Denmark. New World is now the operator of the licence. The estimated cost for the company was 1.4m dollars.

CSS Stellar, which has moved its business into the natural resources sector, has reported a very positive assessment of its 49%-owned investment in Gold Mines of Wales, which holds the licensce over the prospective Dolgellau gold-belt in County Gwynedd, North Wales. The global exploration target for the entire gold-belt is between 500,000 - 2,000,000 tonnes at 3g per tonne gold and 15g per tonne gold for 130,000oz gold and 500,000oz gold.

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