Astar Minerals, an operator of quarries in British Columbia, has signed a heads of terms with Aggregates West to operate a number of quarries based in an area between the US/Canadian border and Seattle. Aggregates West as a number of sites with high quality reserves of sand and gravel and either owns or has access to over 10m tons of materials. Under the agreement, Astar intends to take over the management of the operations of Aggregates West will pay royalties to Aggregates based on sales volumes. Astar's existing business and operations will benefit from access to a significantly larger sales operation and the ability to sell a wider range of products to its existing client base.
Nostra Terra, an oil and gas producer, has completed a placing raising £200,000 through the issue of 55.56m new ordinary shares at 0.36p each. The placing was made following requests by institutional investors. The funds will provide the company with additional flexibility to pursue other opportunities which have been presented to it.
Eurasia Mining narrowed its losses in the six months ended June 30th to £0.26m (H1 2011: £0.39m) on revenues of £0.038m (H1 2011: £0.0023m). Administrative costs decreased from £0.33m to £0.32m year-on-year. Basic losses per share halved to 0.03p. Cash levels soared from £0.32m to £2.5m over the year.
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
NR
-
Wallester Business: Simplify financial workflows with unlimited corporate cardsMake messy expense reports and card sharing chaos a distant memory with Wallester Business, an all-in-one corporate card and expense management platform
-
How to sell a property that floods – ways to avoid a 31% hit to your asking priceFlood risks can knock up to a third off the value of your home when you come to sell but there are ways to soften to blow
