Resource stocks round-up: Alexander Mining, Touchstone, SacOil

published 21 February 2012

Mineral processing technology firm Alexander Mining said its AmmLeach product is going to be trialled by Red Crescent Resources at the Canadian mining company's zinc and copper projects in Turkey.

Gold miner Touchstone Gold has found "gold in them thar hills" on its Rio Pescado property in Colombia, mainly from its 1141 zone area. The assays from the 1141 zone area represent the highest overall gold grades the company has reported to date and in the company's view demonstrate the potential for further discoveries in the Rio Pescado Project.

No news was interpreted as good news at independent African upstream oil and gas company. SacOil shareholders have been advised that the company is still in the process of considering various proposals and potential transactions, which if successfully concluded, may have a material effect on the price of SacOil shares. The company, which is listed on the Johannesburg Stock Exchange (JSE) and AIM in London, has been putting out these "cautionary statements" since October 2011, as required by the JSE. The latest memory jog pushed the price up to 4.75p at one point before it eased to 4.125p, up 0.25p on the day, but well below the 52-week high of 20p.