Fox-Davies Capital
Fox-Davies Capital Monday Energy and Mining News Summary
Serica Energy announces that it has been offered three UK exploration licences in the UK 25th Seaward Licensing Round covering interests in Block 15/21e (30%) in the Central North Sea, Block 48/16a (part) in the Southern North Sea and Block 110/2d (100%) in the East Irish Sea and adjacent to the Morecambe gas field. Serica will operate two of the three blocks.
Gran Tierra Energy has announced that the boards of directors and the stockholders of both Gran Tierra and Solana Resources have approved the transaction, and all other regulatory and court approval requirements were satisfied. Gran Tierra common stock will be listed on the Toronto Stock Exchange on or about November 19, 2008. Solana has applied for suspension of its common shares from trading on AIM with effect from 8:00 am (London time) on November 17, 2008, and cancellation of the admission of Solana common shares on AIM to take effect from 8:00 am (London time) on November 18, 2008.
The combined company has cash on hand in excess of US$140 million and no long-term debt.
Kalimantan Gold Corporation has signed an Option Agreement with PT Indobara Pratama ("IBP") to bring the coal deposit on IBP's 100%-owned coal KP into production and acquire up to an 80% interest in IBP. The project is permitted for production and the potential to be an open cut coal deposit. The work done on the Concession to date indicates a potential deposit of between 55-60 million tonnes of approximately 5,400 kcal/kg coal.
International Consolidated Minerals Inc announced that official notification has recently been received from the Lima Stock Exchange to incorporate the Company's listing to the main board of the Exchange as of 11 November 2008. This move signifies that the Lima Stock Exchange no longer considers ICMI to be a "junior" mining company, and enables more investors to trade and invest in shares of ICMI, which was not previously possible whilst the Company was listed on the junior board of the Exchange.
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