"To date Connemara Mining Company has discovered a series of seven staked veins over 250m, the first two holes will confirm the existing drilling that includes the 5.8g/t Au over 3.05m (16-MR-03). The second two holes will step out 100m along strike to test the continuity and grade..." Northland's note out on Research Tree this morning
"Alexander Mining will continue to advance its efforts to commercialise its processing technology but is also reviewing several complementary opportunities within the mining sector..." Northland Capital published a note on AXM this morning, you can get the full note on Research Tree
"Performance nutrition is an attractive category given its high growth rate. The sector is fragmented but this is an advantage for Glanbia as it is the only global player and hence it can seize the opportunity to cement its leadership both organically and through acquisition, which should give the company a lasting competitive advantage..." Edison's note on GLB out this morning, you can access it on Research Tree
"PhotonStar reported FY15 results which underline its commitment to repositioning as a retrofit integrated lighting and building management systems provider. Consequently it recognised a non-cash £1.98m impairment of non-strategic assets..." From Northland's note on PhotonStar, you can access it on Research Tree
SP Angel published a note on Mariana this morning, too - it's up on Research Tree: "Mariana has released results from its continuing drilling programme at Hot Maden in Turkey. Results from Holes HTD-36 to HTD-50 have been released and results from Holes HTD51-HTD53 are expected to be released shortly. The drilling has been planned to examine three different areas: Potential extensions to the known high grade copper/gold resource where the company announced a maiden resource of 2.2m oz of gold in August 2015. Scout drilling of the southern “Ridge Areaâ€￾ which is the southerly step out extension of the current resource area; and Scout drilling of the “Southern Vein Fieldâ€￾ which represents the northern extension of an area mined by Russian interests before 1923. The company reports that some of the highest grade zinc intersections it has encountered, have been located around the northern and eastern margins of the resource area, including an intersection of 36.5m at an average grade of 7.1% zinc; 1.8 g/t gold and 0.51% copper from a depth of 25.5m in Hole HTD-44. In the southern area, 400m south of the ciurrent resource area, high grade stockwork mineralisation includes an intersection of 1m at an average grade of 13.7 g/t gold from a depth of 64m “with assays pending for multiple sulphide bearing stockwork zones in HTD-51 and HTD-53â€￾. In the northern section of the current mineral resource area, Hole HTD-52 has intersected “a new down-dip extension to the high grade gold-copper resource.â€￾ Although assays for this hole are not yet available, “A total of 50m of multiphase, chalcopyrite-pyrite (hematite-jasper) bearing breccia was intersected from 262m.â€￾ The company is currently updating the Hot Maden mineral-resources estimate and this work, which will presumably incorporate much of the recent drilling since the August 2015 estimate, is expected to be completed next month. Drilling at Hot Maden is continuing to make high grade intersections. We look forward to the results of the current resource estimate..."
SP Angel's note on Gemfields is up on Research Tree: "Gemfields reports that its recent auction of “lower quality rough emeraldsâ€￾ held in Jaipur, India between 17-20th May, raised a total of US$14.3m, bringing auction revenues from the Kagem mine to over US$100m so far this year. A total of 2.78m carats, of the 3.67m carats offered for sale from the 75% owned Kagem mine in Zambia, was sold at a record average price of US$5.15/carat. The previous Jaipur auction of the lower quality material, held in November 2015, realised an average price of US$4.32/carat. The company notes that it did not offer any beryl for auction on this occasion, or at the previous auction of lower quality emeralds, as it had been sold direct “with a considerable degree of successâ€￾. The next Gemfields auction is due to be held in Singapore in June and is expected to comprise mainly mixed quality rough rubies from the Montepuez mine in Mozambique. Commenting on the unsold lots from the Jaipur auction, Gemfields notes that these lots had a higher degree of uncertainty with respect to final recovery and hence failed to reach the minimum reserve price. “The Company, however, believes that these goods offer considerable opportunity to further build demand in other new areas and is confident in the quality and longer term value of these lots and is supported by evidence of the US market continuing to come back on stream.â€￾ Gemfields is building confidence in the coloured gemstone market and it is particularly encouraging to hear their view that the US market is recovering..."
"Gemfields reports that its recent auction of “lower quality rough emeraldsâ€￾ held in Jaipur, India between 17-20th May, raised a total of US$14.3m, bringing auction revenues from the Kagem mine to over US$100m so far this year. A total of 2.78m carats, of the 3.67m carats offered for sale from the 75% owned Kagem mine in Zambia, was sold at a record average price of US$5.15/carat. The previous Jaipur auction of the lower quality material, held in November 2015, realised an average price of US$4.32/carat. The company notes that it did not offer any beryl for auction on this occasion, or at the previous auction of lower quality emeralds, as it had been sold direct “with a considerable degree of successâ€￾. The next Gemfields auction is due to be held in Singapore in June and is expected to comprise mainly mixed quality rough rubies from the Montepuez mine in Mozambique. Commenting on the unsold lots from the Jaipur auction, Gemfields notes that these lots had a higher degree of uncertainty with respect to final recovery and hence failed to reach the minimum reserve price. “The Company, however, believes that these goods offer considerable opportunity to further build demand in other new areas and is confident in the quality and longer term value of these lots and is supported by evidence of the US market continuing to come back on stream.â€￾ Gemfields is building confidence in the coloured gemstone market and it is particularly encouraging to hear their view that the US market is recovering..."
SP Angel's note on Kodal is up on Research Tree: "Kodal Minerals has announced the successful completion of its acquisition of a portfolio of west African gold exploration properties from Australian listed Taruga Gold. The acquisition of Taruga’s wholly owned subsidiary, International Goldfields (Bermuda), for £410,000 in new Kodal shares leaves Taruga Gold with a 27.45% interest in the enlarged company. Kodal reportsthat “Taruga intends to distribute the Consideration Shares on 3 June 2016 as an in specie return of capital to Taruga shareholdersâ€￾. In addition, Kodal Minerals has raised £680,000 through the issue of 1,700m new shares at a price of 0.04p/share to progress the exploration of the newly acquired west African properties and the existing Norwegian assets. The successful acquisition of a suite of gold exploration properties in west Africa marks a new chapter in Kodal Minerals’ evolution. Exploration of a number of the projects is being funded through joint-ventures with major mining companies which should limit Kodal Minerals financial exposure while retaining significant exposure to any successful discoveries..."
"Shanta Gold primarily engages in gold mining, processing and exploration in Tanzania. The open offer has been made after the company issued new ordinary shares to raise US$10.0m earlier this month. The earlier offer received positive response from shareholders, given about US$10.5m was raised. The funding would help Shanta Gold in meeting capital expenditure requirements at the New Luika Gold Mine (NLGM) over the rest of 2016. In addition, the company would be able to execute the Base Case Mine Plan, undertake the underground development of the NLGM and progress with satellite deposit exploration. Moreover, the proceeds from the open offer would strengthen its financial position, enabling further exploration work. Considering the argument mentioned above, we..." Beaufort published a note on Shanta Gold this morning, available for free on Research Tree
Beaufort's note on Asiamet is up on Research Tree, it's accessible for free: "The update mentioned above underpins the considerable potential and quality of the BKM mine. The PEA study results are attractive, indicated by high NPV and IRR. In addition, the study indicated low operating costs, low strip ratio, strong cash flow generation capacity and short payback period. Moreover, further work and exploration in and around the BKM mine would enhance project value. The mine remains open in several directions with presence of targets at Beruang Kanan South (BKS), Beruang Kanan West (BKW) and BKZ polymetallic prospects. These prospects have great potential for additional copper mineralisation, indicated by strong surface and drilling results until date. Asiamet plans to carry out drilling at the targets around the BKM site to expand resource potential. We are buoyed by Asiamet's PEA study results and look forward to further developments. Therefore, we maintain..."