Gold and copper explorer Kefi Minerals rose on Monday after it reported promising initial drill results at its Selib North site in Saudi Arabia. Numerous dykes were found that were not evident at surface, the firm said. It added that they could potentially converge to a larger 'parent stock' at depth. Kefi also reported results from trench sampling and mapping at Jibal Qutman continued to support the existence of both narrow high grade and broader lower grade quartz vein fields. Shares rose 4% in morning trading.
San Leon fell on Monday after it announced delays at its Nowa Sol Concession in the Southern Permian Basin, southwest Poland. Initial flow testing will be later than initially indicated due to the need to retrofit the wellhead, the firm said. Well completion is now expected to be performed within the first two weeks of October to be followed by cleanup and initial flow testing immediately afterwards. Executive Chairman Oisin Fanning said the delay reflected the fact the firm was working in "an evolving regulatory environment" in Poland. Shares fell 2.4% in morning trading.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
