Resources round-up: Quadrise Intl, Angel Mining, Solo Oil

Quadrise International, a manufacturer and supplier of emulsion fuels, has successfully developed an enhanced version of its MSAR fuel and has formed an agreement with Orlen Lietuva to proceed with the fuel manufacturing and assessment programme with the Mærsk test vessel. The results of the evaluation programme are expected before the end of 2012 and will complete the research and development phase of the programme before it enters the commercial phase in mid-2013.

By MoneyWeek

published 28 August 2012

Quadrise International, a manufacturer and supplier of emulsion fuels, has successfully developed an enhanced version of its MSAR fuel and has formed an agreement with Orlen Lietuva to proceed with the fuel manufacturing and assessment programme with the Mrsk test vessel. The results of the evaluation programme are expected before the end of 2012 and will complete the research and development phase of the programme before it enters the commercial phase in mid-2013.

Angel Mining has received a permit from the Bureau of Minerals & Petroleum enabling it to mine the high grade pillars at the Nalunaq gold mine in Southern Greenland. The pillars are estimated to contain 30,000 tonnes of recoverable ore at an expected average grade of 18 grams per tonne and is expected to underpin the level of gold production for the next year or more. Production is expected to begin around mid-September, with production levels expected to reach around 1,500 oz per month from a single gold pour.

Solo Oil has begun full-scale oil production at the Ausable Field in South Western Ontario, Canada, where two of the four well have now been put on line. The field has total liquids potential of 275 barrels of oil per day (boepd) which has been calculated based on the current gas cycling rate of 236 thousand cubic feet per day. Solo has maintained its expectation of reaching a rate of 500 boepd by the end of the current year.