Condor Gold plc said that a fixed gold recovery of 91% will be used in the project economics of the forthcoming feasibility study for La India gold project in Nicaragua. METALLURGICAL TEST The figure comes from the final results of metallurgical tests for the FS on the La India open pit, which showed that gold […]
Author: editorial
United AJ-14 development well intersects oil at Abu Sennan
United Oil & Gas plc said it had encountered seven metres of net oil play, in line with the higher end of pre-drill estimates, in the Al Jahraa-14 development well (AJ-14) on the Abu Sennan licence, onshore Egypt. AJ-14 United holds a 22% working interest in the licence, which is operated by Kuwait Energy Egypt. […]
Galantas closes $530,000 loan with Ocean Partners
Galantas Gold Corporation said it had closed the US$530,000 (£435,000) loan agreement with Ocean Partners UK Ltd for its operations at Cavanacaw mine in Omagh, Northern Ireland. DIRECTOR ROLE Ocean Partners is closely associated with Brent Omland, a director of the Canadian mining company. Mr Omland is also chief financial officer of Ocean Partners and […]
Scirocco defaults on Prolific Basins loan
Scirocco Energy plc said it had defaulted the terms of its Prolific Basins LLC loan facility following defeat of two resolutions at the company’s general meeting. OUTSTANDING BALANCE Of a total of six, resolutions four and five failed to gain the required majority, with resolution five key to maintaining the terms of the facility. Scirocco […]
Orcadian signs farm-out for Carra prospect
Orcadian Energy plc has signed a farm-out agreement with Carrick Resources Ltd for a sub-area of licence P2320 which covers the Carra prospect, west of Aberdeen in the North Sea. TERMS The company will transfer the Carra interest to Carrick on completion of certain work milestones, not cash consideration. Carrick will review existing data, […]
Altus reports 67% rise in reserves and $150m NPV for Diba gold project
Altus Strategies plc announced a 67% increase in mineral reserves and post-tax net present value (NPV) of US$150 million for its 100% owned Diba & Laflanka gold project in western Mali. MINERAL RESOURCE ESTIMATE The company reported the figures in its revised mineral resource estimate (MRE) and preliminary economic assessment (PEA). Altus said it aimed […]