Resource round-up: ECR Minerals, Bullabulling, Faroe Petroleum

Shares in ECR Minerals rose almost 4% after it drew the market's attention to the filing of a feasibility study on a copper flat in New Mexico. The company that owns the flat, THEMAC, is, in turn 19% owned by ECR. THEMAC now plans to begin the definitive feasibility mid-September 2012 and shortly afterwards begin work on detailed engineering.

Gold Miner Bullabulling pleased investors after it said results of a drilling programme showed better mineral resources than previously discovered at its Gold Project in Western Australia. The firm said a new resource estimate would be prepared with a moderate increase in contained ounces of gold anticipated. It shares rose 8% on the news.

Faroe Petroleum said it had acquired a 12.5% interest in the Darwin prospect in the PL531 licence in the Norwegian Barents Sea. It said multiple targets had been identified on 3D seismic tests and the first exploration well was expected to spud from the end December. The firm said the deal was an important step towards its ambition of building a strategic position in the Barents Sea.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

MM