Alexander Mining’s (LON:AXM) shares soared after its subsidiary MetaLeach was granted a patent in the US for a method for leaching cobalt from oxidised cobalt ores.
The patent – number 8,486,355 – has a standard term of 20 years from 6 August 2010, the date of original filing of the PCT application from which the US patent is derived.
Ariana Resources (LON:AAU) has submitted its final environmental impact assessment report for the Kiziltepe gold-silver project to the Ministry of Environment and Urban Planning.
The report was submitted via its joint venture company in Turkey, Zenit Madencilik.
The company expects that the MEUP will review the submitted documentation ahead of ministerial approval which is anticipated during Q4 2013.
Once the company has received its environmental positive certification it will be able to proceed with final permitting for construction, targeted by the end of Q4 2013. In parallel, the company and its JV partners are negotiating finance for the construction of the mine and of expected commissioning of the mine, which is currently scheduled for H2 2014.
Chairman Michael de Villiers said: “The submission of our EIA marks a further crucial step towards Ariana and its partners commencing construction of our initial mine at the Red Rabbit gold project, before expected initial commercial production in H2 2014.”
SolGold (LON:SOLG) now holds a 50% interest, and can earn up to 85% interest, in Exploraciones Novomining S.A. (ENSA), an Ecuador-based company that holds 100% of the Cascabel concession.
Cornerstone Capital Resources holds the other 50% of ENSA.
“With the receipt of the Environmental Licence from the Ecuadorian Ministry of Environment … and drilling expected to start in the first week of September this increase of equity in ENSA comes at an exciting time for SolGold shareholders,” said CEO Alan Martin.
Mwana Africa (LON:MWA) said it has achieved an expected annual saving of $2.6 million, against an annualised target of $5 million. The savings were achieved through directors and management agreeing to fee, salary and/or bonus cuts.
Namibian Resources (LON:NBR) posts pre-tax losses of Â£1.3m for the year to the end of February – up from Â£330,243 in 2012.
Revenues rose to Â£57,046 – up from Â£13,629 last time.
Administrative expenses rose to Â£1.2m – up from Â£277,518 a year ago.
Minco (LON:MIO) reported a consolidated first-half loss of $0.9 million, from a profit of Â£0.1 million a year earlier. The result included a $0.4 million write down in the value of a financial asset.
Looking ahead, Minco said it is advancing the second phase of exploration for zinc in the Pennines and plans to drill a further four additional exploration holes in Cumbria and Northumberland.
The Lundberg lead/zinc project is at pre-feasibility study stage and the Woodstock manganese project is at preliminary economic assessment.
Minco also holds a 2% net smelter royalty in the Curraghinalt gold deposit in Co. Tyrone, Northern Ireland, currently being explored by Dalradian Gold Inc.
Meanwhile, Minco remains in a healthy financial position and we continue to review a number of other investment and acquisition opportunities.
Kibo Mining (LON:KIBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, has received commitments to a share placing of 22.1m new ordinary shares at a placing price of 5p per share to raise gross proceeds of Â£1,105,000 before expenses.
The funds raised will be applied towards the company’s exploration programmes in Tanzania and for general working capital purposes.
Louis Coetzee, Kibo’s CEO, commented: “Kibo is pleased with the successful outcome of the latest placing. This will allow the company to maintain and continue building on the momentum the company has been able to generate over the past months on its promising mineral projects in Tanzania.”
GoldStone Resources (LON:GRL) posts pre-tax losses of $6.5m for the year to the end of February – up from $5.7m last time.
Chief executive Jurie Wessels said: “Despite challenging market conditions, we have made significant progress at all of our projects and yielded encouraging drilling results at Sangola, Oyem and Ngoutou.
“In the coming months we will continue with cash conservation measures in order to stretch the funds raised in the recent placing and will be doing only essential exploration work at our permits.
“By leaving major exploration to joint venture partners such as Randgold and Ferrex and potentially by selling Homase/Akrokerri, we are seeking to add significant value to GoldStone with minimum expenditure.”