Highlands Natural Resources Plc (LON:HNR) said it has achieved a “major milestone” after it started drilling the first well at its East Denver shale oil and gas project in Colorado. It will first drill and case the Wildhorse well, designed to target the Niobrara B horizon, before immediately shifting the rig to drill and case the adjacent Powell well, which targets the Niobrara C formation.
Asiamet Resources Limited (LON:ARS) has raised a total of £6mln through a placing of 139,534,884 new common shares at a price of 4.3p each, with significant shareholder support for the fund-raising. The AIM-listed miner said the net proceeds will be used to fund completion of the definitive feasibility study for the company's 100% owned flagship Beruang Kanan Main (BKM) project, drilling of high priority targets nearby BKM, and expansionary drilling at the Beutong Porphyry Project.
Horizonte Minerals Plc (LON:HZM) has told investors that the feasibility study at its Araguaia nickel project in Brazil is now at an “advanced stage” after making “significant progress” since the turn of the year. The study is on track to be delivered in the final quarter of 2017 into the start of 2018, Horizonte added.
Orosur Mining Inc. (LON:OMI) has seen strong demand for a funding to cover a drilling campaign on its acreage in Colombia. A placing at 14.7p was oversubscribed and the money means work can start at Anza (in Colombia) without having to divert funds from the producing San Gregorio mine in Uruguay.
VinaCapital Vietnam Opportunity Fund (LON:VOF) has taken a sizeable stake in FPT Digital Retail JSC (FPTR), a leading mobile phone distributor in Vietnam. VOF has invested US$11mln into FPTR, the largest investment among a group of institutions that have bought a 35% stake from the mobile phone group’s parent FPT Group.
Canadian Overseas Petroleum Limited (LON:COPL) says discussions over funding for an appraisal well on its OPL 226 licence offshore Nigeria are advancing well. Investment bankers Cofarco and Zeus Capital are in discussions with a number of oil traders, merchant banks and service providers, COPL said.
Trinity Exploration & Production PLC (LON:TRIN) has agreed the sale of a block of producing assets in Trinidad to neighbour Range Resources PLC (LON:RRL). The assets are offshore the west coast of the island and will release capital to invest in the company’s operations on the other side of Trinidad, said Trinity.
Galileo Resources PLC (LON:GLR) saw its shares jump 18% higher today after it said preliminary results of the initial 14-hole drilling programme at its Concordia project in South Africa were "promising and well worth pursuing".
Newmark Security PLC (LON:NWT) has sold off its business premises in Poole for £1.525mln, netting the physical and electronic security provider a £360,000 profit. The AIM-quoted group, which only purchased the offices back in May for £1.2mln, will now lease back the same building from the new owner.