Resources round-up: TomCo, Sunrise Resources, Weatherly,

Also includes: Thalassa, Aurum Mining, Ormonde Mining,

TomCo Energy, the oil shale exploration and development company, rose 3.8% after it said it had commenced measures to secure the necessary approvals and permits required for commercial production at its Holliday Block in Utah. The firm said it was currently streamlining its corporate structure to focus all of its efforts on the oil shale opportunity in Utah.

Shares in Sunrise Resources jumped 13.8% after it announced positive results from diamond evaluation work on surface samples at its wholly owned Cue diamond project in Western Australia. Chief Executive Patrick Cheetham said the overwhelming majority of stones recovered so far were white/colourless, transparent and without inclusions.

Weatherly said arbitration proceedings before the International Chamber of Commerce (ICC) over its rights in Burkina Faso would go ahead. The case revolves around Weatherly's rights to the Tambao manganese deposits in the country. The government there had argued the arbitration was inadmissible. However, the ICC has now confirmed the arbitration will go ahead with a final decision expected in 2014, Weatherly said.

Thalassa said its subsidiary, WGP Energy Services, had successfully completed a 2D survey in the Russian High Arctic on behalf of State Sevmorgeo Company. "To achieve over 5,000 survey kilometres without incident or damage to in-water equipment endorses WGP's expertise of working in challenging and frontier locations, providing bespoke marine geophysical services and solutions," said Operations Manager Marcus Smith.

Aurum Mining, the gold and tungsten explorer focused in Spain, reported "extremely encouraging results" from the initial trenching work carried out on the Cabeza de Caballo gold prospect area in Salamanca Province. The results indicated the possible identification a new, near surface gold system, the firm said. Aurum has a 54% majority interest in Cabeza held through the company's joint venture with Ormonde Mining. Share in the two firms rose 3.9% and 1.8% respectively.

MM

Recommended

Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022
Britain’s most-bought shares w/e 5 August
Stocks and shares

Britain’s most-bought shares w/e 5 August

A look at Britain’s most-bought shares as of 5 August, providing an insight into how investors are thinking and where opportunities may lie.
9 Aug 2022

Most Popular

Are UK house prices finally heading for a crash?
House prices

Are UK house prices finally heading for a crash?

The latest house price figures show a fall of 0.1% in July. With interest rates rising, inflation hitting double figures and a recession on the cards,…
5 Aug 2022
Brace yourself for the return of rationing
Economy

Brace yourself for the return of rationing

Russia is turning off the cheap energy. That is already leading to belt-tightening, says Matthew Lynn. Who will suffer most, and which sectors will th…
5 Aug 2022
Fear of missing out – what should investors do now?
Investment strategy

Fear of missing out – what should investors do now?

Markets have rallied from their mid-June lows. But if you missed out, as most investors did, what should you do now? Max King explains.
8 Aug 2022