http://www.proactiveinvestors.co.uk/blog/index.php Copyright 2008, Proactive in Brief Proactive in Brief en-US SPHPBLOG 0.4.8 http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-093651
The Company is also preparing for its first diamond sale, now planned for the end of August. Under its mining lease covenants to the Botswana Government DiamonEx must offer its goods to Botswana registered cutters and polishers, the company said.

"The diamond sale will allow DiamonEx's Lerala Mine to join the very small list of producing hard rock diamond mines in the world, a list of less than 20 mines, and also make it the first independently owned producing diamond mine in the Republic of Botswana." said Dan O'Neill, Managing Director of DiamonEx. "Botswana produces up to 30% of the world's rough diamonds by value. All of Botswana's production however, is accounted for by a single entity, a joint venture between the Botswana Government and Debeers, known as Debswana. DiamonEx will be the first independent diamond producer in the world's premium diamond producing region. This is a truly commendable achievement."]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-093651 Proactive in Brief Thu, 24 Jul 2008 08:36:51 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-092451
Strategic Natural Resources' also added that it could define up to 300 million tonnes of extractable coal from the combined 60,000 hectare exploration area.

SNR Chief Executive, Jeremy Metcalfe, said: "After a great deal of consultation with the operations team in South Africa, I am pleased that the Board has taken the decision to proceed with this substantial increase in our prospective reserve base, given the current favourable drilling results combined with negotiations with IPSA for increased planned power generation capacity. Furthermore, recent developments for additional alternative markets that are surfacing in the vicinity of the mine given the increased interest in coal resources globally, indicate that there will be a strong demand for our coal for many years to come".



]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-092451 Proactive in Brief Thu, 24 Jul 2008 08:24:51 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-090519
Mariana's geophysical survey confirmed a "magnetic low" that coincides with surface expressions that suggest there may be an intrusion at depth.


A report from Quantec Geoscience, who conducted and reviewed the survey said, "A reasonable interpretation of the magnetic data is that the smooth portions of profile traces show an absence of magnetite, perhaps due to a low-magnetite intrusion. A very common signature of non-magnetic porphyries is that the magnetic texture is very flat over the porphyry and very irregular over the halo. The geophysical data give the impression that this is the situation at La Borita". Quantec went on to add that the data collected suggested that "significant sulphides occur on a porphyry like scale at depth".

Mariana's Managing Director, John Sutcliffe summarised:

"La Borita is a concealed porphyry copper target which has been significantly ungraded by the positive geophysical results consistent with a sulphide bearing intrusive target at depth. As a result, Mariana now has a 100% interest in a most attractive porphyry copper target obtained at very low initial cost. Mariana will consider drill testing La Borita after the Cordilleran winter period. This will follow some time after the upcoming drill programme planned at the Sierra Blanca multiple-bonanza vein target, in Santa Cruz Province, Argentina, planned for September 2008"



]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-090519 Proactive in Brief Thu, 24 Jul 2008 08:05:19 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-084619
The company's drill rig is drilling on southern margin of the anomaly. At 198 metres, inspection of the core confirmed the presence of 'norites' - which are known to host nickel copper sulphide mineralization. At 225 metres the drill hole intersected sulphide mineralisation containing visible copper. Currently the drill rig has reached 267 metres and is still in disseminated sulphide mineralisation, the company said. A second drill hole, which is currently at a depth of 121 metres, also contains visible copper minerals from 101 metres. Investor's will have to sit tight for assay results.

Kryso Resources' Managing Director, Vassilios Carellas added:

`This drilling, in the location previously identified by the electromagnetic survey, is extremely encouraging for the Hukas project and confirms mineralization which we believe contains nickel copper sulphides. The potential mineralised zone is 1 km long and open to the north. The confirmation of mineralization and our ongoing drilling programme bodes well for what could become a material nickel and PGM resource at the Hukas property.

Kryso Resources has two key projects in Tajikistan:

Pakrut Gold Project
Kryso has the exclusive licence to carry out exploration and mining on the Pakrut Licence Area located in central Tajikistan. The existence of mineral deposits in this area was identified in the 1940s and was systematically explored until the early 1980s. The Pakrut Licence Area is located north-east of the capital city Dushanbe from which it can be accessed in three and a half hours by sealed bitumen road for the first 58 km to the town of Ramit on the Sorba River, and then northward along the Sardi-Miena river by dirt road for a further 53 km.

The Hukas Nickel-Cobalt-Copper-PGM Project
The Hukas project is located in the Darvaz area of the Mountainous Badhshan Autonomous region in Tajikistan. In 2005, the potential for nickel, copper, cobalt and PGM (platinum-group-elements) mineralization in the Republic of Tajikistan was brought to the attention of the Company. The Company subsequently identified two areas that had been discovered during the Soviet era, which had favourable host geology and structure for the presence of nickel-copper sulphide mineralization.

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080724-084619 Proactive in Brief Thu, 24 Jul 2008 07:46:19 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080723-131953
Based in Canberra, Seeing Machines was founded nearly eight years ago to commercially exploit computer vision technologies that had been jointly developed by the Australian National University and Swedish motor manufacturer Volvo. Its core technology gives computers the ability to "see".

More recently, Seeing Machines has begun a phase of launching a number of products that, according to chief executive officer Nick Cerneaz, "are all designed to kick in one after another" and create multiple revenue streams for the company.]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080723-131953 Proactive in Brief Wed, 23 Jul 2008 12:19:53 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-203905
Highlights from drilling at the Cathedral Vein included 4.5 metres grading 8.04% Zinc, 1.4% Lead and 74ppm of silver. Other holes returned equally compelling assays, and reaffirmed the potential of Paguanta to Herencia Resources. On the Central Vein, results were as impressive, including 8 metres grading 4.05% Zinc, 2.13% Lead and 122ppm of Silver from diamond drill hole PTDD018. Herencia's drill bit also turned its attention to the newly discovered Rosanda Vein, which runs adjacent to the Camp Vein. Once again, the results were very consistent with the overall drill core date from across the Paguanta Project, with drill hole PTRC058 cutting 8 metres grading 4.6% Zinc, 1.8% Lead and 157ppm of silver.

Herencia is currently carrying out a 10,000 metres diamond and reverse circulation drill program at Patricia, and confirmed today that results to date were positive with high grade intercepts encountered in all veins tested.

The company also noted that visual inspection of recent drill cores indentified sulphide mineralisation below the current resource.

Finally, Herencia confirmed that it would commence drilling on the La Rosa Porphyry Copper target in approximately 1 week.

Herencia's Executive Director, Michael Bohm, said:

'The intercepts of mineralisation at depth at Patricia are very encouraging and indicate the high potential of the project. We are pleased to see that the new veins being found are of high grades similar to those encountered in the earlier defined veins.'




]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-203905 Proactive in Brief Tue, 22 Jul 2008 19:39:05 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-184812
Platmin CEO Ian Watson commented, 'I am very pleased to welcome the MCC team to our Pilanesberg project as they bring vast experience on open-cast PGM mining in Southern Africa and have managed to secure critical mining fleet early on in the project. With this major contract in place we are now better placed to predict our operating costs for the project and progress to production with greater cost certainty. Fortunately being an open-cast mining project these costs have not been directly affected by the recent Eskom power cost increases. The Board is confident that this project will be amongst the lowest cost producers within the South African platinum industry.'

Terry Holohan, Platmin COO, said earlier today 'The project is firmly on track to meet our production timetables as outlined in our BFS. The plant construction is on schedule and on budget with over 85% of the capital cost of ZAR 1.6bn committed. It should also be noted that over the past year PGM prices have seen dramatic increases from the base case presented in the BFS, which was justified on a long term platinum price of US$ 951 per ounce. Current prices are over US$ 2 000 per ounce as a basket of 3PGE+Au. In addition, the metal payabilities achieved in the off-take contract with our custom smelter are significantly higher than those in the base case presented in the BFS.'

Platmin is an explorer and emerging PGM producer whose four key projects host mineral resources and reserves: Pilanesberg, Mphahlele, Grootboom and Loskop. The Pilanesberg Project is under construction with production of PGM concentrate expected in 2009. All of Platmin's projects are located in the Bushveld Complex of South Africa, which is estimated to contain approximately 90% of global platinum mineral resources.




]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-184812 Proactive in Brief Tue, 22 Jul 2008 17:48:12 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-184321 development company with activities in Syria, Iraq, and the U.S.A. is now a fully fledged oil producer in Syria. Today the company confirmed that oil production commenced from the Khurbet East Early Production Facility in Block 26, Syria. The company completed the development ahead of schedule.

Andrew West, Chairman of Gulfsands said:

"From discovery to production within this timeframe reflects the considerable abilities of our technical team and the high level of co-operation with the Government of Syria and Syria Petroleum Company. With production from Khurbet East having started well ahead of schedule, which will ramp up as we tie in additional wells, we look forward to further developing the other opportunities in Block 26 in what is a highly prospective and proven hydrocarbon system in Syria."

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-184321 Proactive in Brief Tue, 22 Jul 2008 17:43:21 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-183457

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-183457 Proactive in Brief Tue, 22 Jul 2008 17:34:57 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-183108
Starting in Hungary, where Ascent is building a gas production profile, the company confirmed that sales from the PEN-104 on the Preneszlek Field well was nearing, with final parts of the production facility anticipated to be delivered and installed shortly. 3-D seismic acquisition of the "immediate" area is also planned to evaluate new targets and test the potential of partially depleted wells, including PEN-9, PEN0-12 and the Preneszlek Field. Re-entry and workover of old wells and the drilling of new horizontal wells is also earmarked for the Baicsa Gasfield, where Ascent has a 38.7% interest. Also in Hungary, Ascent confirmed it was looking to farm out or farm down its interests in the Szolnok Project and Nyirseg Project.

Moving on to Slovenia, a new 3-D seismic survey is penned in for the Petisovci Shallow Reservoirs, where Ascent has a 45% interest. Some of the old wells will also be worked over to restart production. The Petisovci Shallow Reservoirs has 2P oil reserves of 10.7 million barrels. Moving on to the Petisovci Globoki Deep Reservoirs (Ascent 15.75% interest), additional 3-D seismic is also on the cards, in addition to further testing of the D-14 well. Drilling at the East Slovenian Exploration Permit (Ascent - 80% interest) is expected in 2009, once a regional exploration study and seismic is completed.
In Switzerland, the most significant milestone came from the Seeland Exploration and Appraisal Permit (Ascent 90%), where seismic reprocessing and geological modelling has been completed, and the Hermrigen-2 appraisal well is now scheduled for 2009.

Ascent's other area of operations are in Italy, and here the company confirmed that the Gazzata-1 well on the Cento-Bastiglia Permits in the Po Valley was expected to spud in the second half of this year. A 2-D seismic acquisition near the Anagni-1 well on the Frosinone Permit is also complete, and is expected to help confirm the location of a second appraisal well. Seismic is also complete on the Ripi Oilfield, in the Strangolagalli Permit while an application has been submitted to extend the company's exploration permit on the Fiume Arrone Permit.

Last but not least, Ascent's 22.5% interest in Perazzoli Drilling appeared to be a sound investment, with a third drilling rig being delivered in the next few weeks.

On the finances front, the oil and gas explorer and producer said it was continually looking at ways to generate cash from farm-out opportunities, and that it had increased a debt facility from €0.5 million to €1.5 million.

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-183108 Proactive in Brief Tue, 22 Jul 2008 17:31:08 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-182642
In today's update, Serabi confirmed that drilling has continued to confirm the "extensive" strike and plunge extensions of the high grade Jatoba zones south-east of the current mine. High grade extensions of the Palito West Zone were also confirmed, and still remain open in both directions and at depth. Additional parallel zones of gold mineralisation were also noted in the update.

On the wider exploration front, Serabi confirmed that it would be drill testing a number of anomalies before year end that were identified from recent electromagnetic surveys. Drilling at Ruari's Ridge has already confirmed the possibility of a shallow oxide deposit, and "regional screening" at Pison, and in particular at the Marupa Project, also reaffirmed the prospectivity of other target areas controlled by Serabi.

Mike Hodgson, Chief Executive Officer of Serabi Mining plc, said:
"Serabi has significantly stepped up its exploration programme over the past year with success on a number of fronts that continue to point to near term potential at Palito, as well as the wider opportunities in the long term.

Following our recently announced Ore Reserve & Mineral Resource Update at Palito to March 31, subsequent drilling results continue to indicate good potential for additional resources, particularly to the south of the PMZ and along the very high-grade Palito West zone. Underground development towards Palito West has already commenced and is expected to intersect the said mineralisation by year-end. Development east of the PMZ into the Jatoba orebody similarly demonstrates the Company's ability to quickly turn discoveries into reserves and production. Furthermore, although relatively small, the discovery of oxide resources at Ruari's Ridge forms a useful supplementary source of ore and we are now testing other areas in the Palito district which we believe may have similar potential."
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-182642 Proactive in Brief Tue, 22 Jul 2008 17:26:42 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-094053
Results from the final batch of drilling continued to confirm the presence of low grade gold mineralisation. Highlights included hole RC49, which returned 11 metres grading 1.28 grams per tonne gold from 19 metres, hole RC51 which returned 9 metres grading 1.52 grams per tonne gold from only 12 metres down hole, and RC44A which cut 10 metres grading 1.41 grams per tonne gold from 71 metres down hole.

Re-logging of ten previous diamond drill holes also confirmed the potential for gold-base metal mineralisation at deeper levels.

Overall, the reverse circulation drill program intersected gold mineralisation above 1 gram per tonne gold in 30 of the 50 holes. All of the drill core data was calculated using a 0.35 gram per tonne gold cut-off.

Jeff Malaihollo, MD of Central China Goldfields, added:

"This final batch of drill results reaffirms the consistent nature of the gold at Dong Mao Huo which was identified in 60% of our drill holes. We had four distinct grouping of holes each of which returned excellent results. On the back of this success we have now started planning our initial test bulk sampling, this will then likely lead to formal production scheduled to start in early second quarter 2009."
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-094053 Proactive in Brief Tue, 22 Jul 2008 08:40:53 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091401
Horizonte said it had signed a head of agreement with Placer Dome Peru to explore and acquire its 2147 hectare Pararapa gold property in southern Peru. Horizonte will issue 3.5 million shares to Placer Dome Peru in two tranches after 12 and 24 months.

Pararapa is located in a historic gold-silver mining district - Hochschild Mining operates two mines in this district. "Low sulphidation systems have the potential to host world class deposits, such as Cerro Vanguardia in Argentina operated by Anglogold Ashanti, where current resource estimates stand at 3.5 million oz gold", Horizonte said.

Horizonte CEO Jeremy Martin said: 'This is a very positive development for the Company in Peru. We are delighted that Barrick, one of the world's premier mining companies, has agreed to the association with Horizonte for the exploration & development of this potentially high grade gold-silver project. We see immediate potential for resource development and will fast track the exploration programme on this project. Importantly, we aim to expand this new relationship with Barrick to look at other potential development opportunities.

Horizonte will have the right to acquire a 100% interest in the Property by completing the following exploration and financial commitments within a three year period. Horizonte will also pay US$25.00 per oz up to 1,000,000 oz Au equivalent and US$30.00 per oz up to 2,000,000 oz Au equivalent to acquire the Property. Such payment will become due upon commercial mining production. In addition, Barrick has the option to buy back up to 70 per cent of the project upon the delineation of 2 million oz of gold or more.


]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091401 Proactive in Brief Tue, 22 Jul 2008 08:14:01 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091308
Range announced that Liban Bogor, a Managing Director of the company, had resigned from his post to work exclusively for the Puntland Government on "various initiatives". Range said that it considered the move as a positive step for the joint venture, as Mr. Bogor would be working to take into account "all stakeholders" interests in Puntland.

Executive Director, Michael Povel, will also move to a non-executive director role, and will be responsible for releasing "significant value" from Range's Forrestania Project in Western Australia.
The company also took the opportunity to reaffirm its confidence in Africa Oil Corp's ability to complete an agreed work program, which will include drilling four wells in Puntland.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091308 Proactive in Brief Tue, 22 Jul 2008 08:13:08 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091130 www.sustainablebusiness.com.

The list contains the world's top sustainable stocks, published by SustainableBusiness.com. "The SB20 showcases the most innovative, model companies that, through their products or initiatives, are contributing substantially to the advance of a sustainable economy and have the potential to greatly impact our ultimate goal of reaching a sustainable society" the company said.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080722-091130 Proactive in Brief Tue, 22 Jul 2008 08:11:30 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-165811
A previous exploration study on the area calculated the total most likely hydrocarbon potential at 5 billion barrels of oil in place with resultant total most likely case prospective recoverable oil resources of 1.475 billion barrels.

Mediterranean Oil & Gas will pay a signature bonus of US$0.5 million, plus US$0.27 million per year in rent, education and administration fees. The two primary targets for drilling will be the Upper Cretaceous Play, and the Eocene Play. Mediterranean Oil & Gas added that the area have already been covered by 2D seismic, with a 3D survey over the western region of Block 7. The 2D and 3D surveys have identified 4 prospects and five leads. The three most mature prospects are located in Block 7 along the ‘ramp setting’ of the Melita – Medina Graben, close to the Libya pelagic basin.

“The Production Sharing Contract grants the exclusive right to explore for and exploit oil and gas for a term of 30 years and is divided into exploration and production periods. The 6 year exploration period is divided into 3 stages with an initial 3 year stage in which the Contractor is obliged to undertake a 2,500 metre well. Following the current stage the Contractor can extend the exploration phase for two additional exploration periods of 18 months each by undertaking a further one well commitment for each extension. If there is a discovery during an exploration period then the exploration phase may be extended by up to another 3 years to enable the Contractor to appraise the discovery and establish its commerciality” the company said.

Mediterranean Oil and Gas also confirmed that Leni Oil and Gas would pay US$2.5 million for a 10% working interest in the Production Sharing Contract.

Sergio Morandi, CEO, said: “In signing the Production Sharing Contract with the Maltese Government the Company has consolidated its exploration portfolio in the central Mediterranean area. The operational expertise and experience of our technical staff in relation to the central Mediterranean area gives the Company a distinct advantage in this area. We have identified most likely prospective resources of 1.5 billion barrels of oil in a series of large leads and prospects in the PSC Area. This giant potential upside provided by the PSC balances well with and adds high impact exploration to our portfolio of oil and gas assets in the central Mediterranean. Our asset portfolio in the region already includes existing Italian gas production, our development of the 20 MMbbl (2P oil reserves) at Ombrina Mare and the pending exploration well at Monte Grosso.“
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-165811 Proactive in Brief Mon, 21 Jul 2008 15:58:11 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-160317
The tie-up was an arduous process as the deal was not to the liking of the opposition Socialist Party and trade unions. The French government however has taken a positive stance and believes that the merger would help establish a national oil company similar to CNPC and PDVSA which would enable them to secure business worldwide.

It is reasonable to expect European energy companies to seek similar tie-ups in their attempts to ensure the regional energy security. Europe is at the mercy of external energy suppliers such as Gazprom, which is known to use its energy supply as an effective bargaining tool. Readers may recall Gazprom sending a chill throughout Europe when Yushchenko’s Ukraine fell foul with Russia. Larger state energy companies such as GDF-Suez, the new entity, are expected to weather such storms better.

The merger itself however is viewed as a blow to Europe’s plans to open the sector to increased competition. The deal is expected to make GDF-Suez Europe's largest buyer and seller of natural gas, as well as its biggest natural gas distributor. Making its intentions clear, GDF – Suez announced its interest in Britain’s nuclear power operator British Energy. Expect more acquisition endeavours by the new giant on the block.

The French government will be the biggest single shareholder, with 35.6 percent of the capital, followed by Belgian investment company Groupe Brussels Lambert, with 5.3 percent.


]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-160317 Proactive in Brief Mon, 21 Jul 2008 15:03:17 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-152455
Dual-listed Rusina owns numerous properties in the Philippines, but leading the pack by a country mile is the Acoje laterite deposit. Acoje is a large tenement with a 15km strike length in the north of the Philippine archipelago, conveniently near the coast of China.

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-152455 Proactive in Brief Mon, 21 Jul 2008 14:24:55 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-132326
Kalahari is advancing copper and other base and precious metal projects in Namibia, and also holds a strategic stake in TSX and ASX listed Extract Resources which has advanced uranium assets, also in Namibia.



]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-132326 Proactive in Brief Mon, 21 Jul 2008 12:23:26 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-132127
The two new discoveries, named Kozlu and Gölcük, where both identified from porphyry-type quartz veining discovered during ongoing field work, and both are within short distances of the Karacaören porphyry occurrence and Doğanbey porphyry occurrence. A 2000 metre reverse circulation program is expected to commence over the Karacaören and Gölcük prospects in August.

Stratex also confirmed that it was seeking permits to commence drilling on the high-sulphidation gold discovery at Öksüt, 300 kilometres east of the Konya project area. In parallel with the drilling programme, exploration is focusing on a wider silica system which extends over a 4,000 metre x 2,000 metre area, the company said. Drilling at Öksüt is expected to begin in August.

Never a company to shy away from exploration, Stratex also said it was beefing up exploration at the Altunhisar project, 100 km west of Öksüt, after reporting encouraging rock chip sampling, and that it was planning to commence drilling at the Hasançelebe project, 200 kilometres north-east of Öksüt, where exploration has revealed a system of silica ledges over 5,500 metres, which hosts two almost continuous parallel silica ledges over 3,500 metres.

Bob Foster, CEO of Stratex commented: "We are delighted with the rate at which we are adding quality exploration plays to our pipeline of projects. Following the recent discovery of the Karacaören, Kozlu, and Gölcük porphyry occurrences, Konya continues to underpin our belief in its potential to host a major porphyry gold system. The importance our partner Teck Cominco Limited places on these discoveries is evident from our mutual agreement to drill both Karacaören and Gölcük imminently."

]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-132127 Proactive in Brief Mon, 21 Jul 2008 12:21:27 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-102123
Gulfsands quickly issued a statement to the market, confirming that it would be issuing an update this week regarding oil production in Syria.

In a separate announcement, Gulfsands confirmed the appointment of Richard Malcolm as Chief Executive Officer. Richard Malcolm was previously Managing Director for the UK arm of OMV, one of Europe's largest oil and gas companies. The appointment of Richard Malcolm will be seen as another significant addition to an already strong board of directors.



]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-102123 Proactive in Brief Mon, 21 Jul 2008 09:21:23 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-075338 Peru, announced that it had spudded well SA-2X on Block XXI, Onshore Peru, over the weekend. The well will be drilled to a target depth of 5,200 feet and take around one month to complete.

Gary Moore, CEO of Gold Oil, added:

"The Board is excited to begin the next phase of drilling. We look forward to keeping the market informed of developments."

Gold’s first well on Block XXI, San Alberto-1X, was spudded in July 2006, and encountered the expected geological sequences known to exist in other fields in the region. Results of electric logging showed 250 gross feet of hydrocarbon bearing sands in the Palaeozoic, and 315 gross feet of hydrocarbon bearing sands in the tertiary Verdun sands.

The San Alberto-1X well was plugged and abandoned as non-commercial, due to a water influx believed to have originated from below the Oil Water Contact, which prevented any hydrocarbons from entering the wellbore when tested.

Since then, GoldOil has completed a direct electro-magnetic survey technology and a detailed gravimetric survey to pinpoint the best the location for SA-2X.



]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080721-075338 Proactive in Brief Mon, 21 Jul 2008 06:53:38 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-191606
Each consists of a transferable senior secured note for US$1,000 maturing in two years, plus a share purchase warrant for Freegold Ventures, which entitle holders to purchase up to 500 shares at an exercise price of $1.20 per share within five years of the closing date. The warrants are subject to an acceleration clause and the notes bear interest at 15 % per year.]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-191606 Proactive in Brief Fri, 18 Jul 2008 18:16:06 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-181133
These substantial shareholders (include directors of Minsec) number 38,894, 456 shares/votes, or 22.71% of Minsec's shares in issue (excluding Treasury Shares which are due to be cancelled). This represents an increase in 2,886,864 or shares/votes, or 1.69% eligible votes on the immediately previous notice. (36,007,562 shares or 21.02% in the notice issued yesterday)

As Minsec’s shares are trading at a discount to Copperco’s shares, the offer is at a premium, thus it seems very likely that Minsec shareholders will accept the proposed merger deal which is nearing completion


For the background to this story see:

"Mineral Securities - an emerging mid-tier mining group, trading like a depressed junior" published on 15/7/08 on Proactive Investors UK website at http://www.proactiveinvestors.co.uk/art ... t.php?MXX3

The article is also published on Proactive Investors Australian Website at http://www.proactiveinvestors.com.au/co ... -0211.html]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-181133 Proactive in Brief Fri, 18 Jul 2008 17:11:33 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-151932
It is anticipated that this announcement will be made before the opening of the market on Tuesday 22 July. Trading in the company’s shares continues on AIM.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-151932 Proactive in Brief Fri, 18 Jul 2008 14:19:32 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-145346
Red Rock has 183 days from 5/7/08 for preliminary exploration of the license area - this may be extended for up to six months upon payments of $50,000 and $75,000. Red Rock may elect to proceed with the project within 12 months for a payment of $175,000.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-145346 Proactive in Brief Fri, 18 Jul 2008 13:53:46 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-143007 http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-143007 Proactive in Brief Fri, 18 Jul 2008 13:30:07 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-142259
This well is intended to drill the productive upper pay zone found in the TCEI JV Block A-1 and A-3 wells and then drill horizontally to effect a lateral completion.

The TCEI JV Block A-1 and A-3 wells had early production flow test rates of 12 and 7.8 million cubic feet gas equivalent per day and the operator believes that a successful lateral completion will increase flow rates.]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-142259 Proactive in Brief Fri, 18 Jul 2008 13:22:59 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-135729
Highlights include; 7metres at 1.5% copper and 33 grams per tonne silver, 5metes at 1.9% copper and 42 grams per tonne silver, and 4.4 metres at 1.4% copper and 12 grams per tonne silver. These results are consistent with previous results at Zeta and improve confidence in the resource at Zeta.

The drilling was completed as part of the pre- feasibility study for the Zeta, Plutus and Petra prospects at Discovery’s 100% owned Copper Project in north west Botswana.


Mr Brad Sampson, Discovery Metals' MD commented:

"These infill drill results add to our knowledge of the Zeta resource and provide highly valuable, more closely spaced data that will enable improved quality of resource modelling. We have only tested a very small proportion of our overall tenement package and already have identified an Inferred Mineral Resource of 46.1Mt @ 1.3% copper at a cut-off of 0.6% Cu at the Zeta, Plutus and Petra prospects."]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080718-135729 Proactive in Brief Fri, 18 Jul 2008 12:57:29 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-193338
The KP441 exploration permit totals 55,436 acres and is in area that is highly prospective for potash. A NI43-101 compliant resource was recently calculated for 17% of the KP441 claim. This was based on 1969 data, and included a net recoverable inferred resource of 12.24 million metric tonnes of potash mineralization (K2O). Raytec also announced that it has filed a permit application for another area previously drilled in 1969.

Brian Thurston, President of Raytec, commented:

"With the receipt of our exploration permit on the KP441 claim and the recent release of the NI43-101 report, we are effectively a year ahead in our exploration program."
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-193338 Proactive in Brief Thu, 17 Jul 2008 18:33:38 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-190244
The program is nearly complete and has defined a significant down plunge zone of tungsten mineralization extending the No 10 Vein Deposit at depth and to the north. Early visual interpretations of cores from the program are beginning to riase Playfair's understanding of the Tungsten deposit.

Playfair's Chairman and CEO, Donald Moore, commented:

We are pleased that our strategy to increase the size of Grey River high grade tungsten is yielding positive results. Our predecessors theorized that tungsten mineralization within the No 10 Vein might plunge to the north from surface, our work has shows that they were correct."]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-190244 Proactive in Brief Thu, 17 Jul 2008 18:02:44 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-163639
The Aglavizza Concession (MOG 100%) is an onshore production concession which contains the Civita gas field which has proven and probable reserves over 1 Bcf gas. The Company anticipates it will be able to develop and operate this field from the existing Civita 1 well without increasing the Company's operating costs. The field is expected to produce approximately 512 million cubic feet a day; upon finalisation of environmental assessment approvals.

The S. Buono and Agnone Permits (MOG 100%) exploration permits cover 1,484 square kilometres in the Molise Region in Central Italy, located to the south of the Aglavizza Concession.


The Company's CEO, Sergio Morandi, commented:

“The Aglavizza Concession represents an attractive opportunity to increase our gas production in the short term. This award creates value for MOG and demonstrates our ability to leverage our existing operational base and expertise in Italy to integrate and add value to acquisitions. The Agnone and S. Buono exploration permits consolidate our portfolio along the Southern Apennines oil play trends in areas where our Company's experience both in exploration and production gives us a distinct advantage”.]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-163639 Proactive in Brief Thu, 17 Jul 2008 15:36:39 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-161312 ]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-161312 Proactive in Brief Thu, 17 Jul 2008 15:13:12 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-155951
The main market for Goldplat's shares will continue to be AIM, trading through PLUS is in order to offer investor choice and improving liquidity.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-155951 Proactive in Brief Thu, 17 Jul 2008 14:59:51 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-155005
Mediterranean Oil & Gas (AIM: MOG) notified the markets that JP Morgan Asset Management (UK) and Bear, Stearns International Trading have, between them, an interest in 3,882,880 ordinary shares in the company, which represents 9.98% of the company’s equity.
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-155005 Proactive in Brief Thu, 17 Jul 2008 14:50:05 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-153601 http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-153601 Proactive in Brief Thu, 17 Jul 2008 14:36:01 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-151903
Minsec’s shares are trading today at 48p, which means that Copperco’s is at a premium of 15.8%. Thus it seems very likely that Minsec shareholders will accept the proposed merger deal which is nearing completion


For the background to this story see:

"Mineral Securities - an emerging mid-tier mining group, trading like a depressed junior" published on 15/7/08 on Proactive Investors UK website at http://www.proactiveinvestors.co.uk/art ... t.php?MXX3

The article is also published on Proactive Investors Australian Website at http://www.proactiveinvestors.com.au/co ... -0211.html]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-151903 Proactive in Brief Thu, 17 Jul 2008 14:19:03 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-150207
Emircom has offices in the UAE, Qatar, Saudi Arabia, Syria, Sudan, Lebanon and Pakistan and is one of the fastest growing systems integrators in the region. The agreement brings together Synchronica's mobile email technology that works on standard handsets, with Emircom's in-depth knowledge of these countries' mobile email requirements.

Emircom chose Synchronica's Mobile Gateway because it allows users to send and receive email securely and cost-effectively from mass-market handsets, without installing additional software on the device. It also supports a wide range of other comsumer and business services.

Carsten Brinkschulte, CEO at Synchronica, said:

“The relationship with Emircom unites our ground-breaking mobile email technology with their extensive knowledge of their markets' ICT requirements. The result will be a compelling hosted mobile email service that we are confident will prove popular in these developing markets.”
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-150207 Proactive in Brief Thu, 17 Jul 2008 14:02:07 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-140608
At the Euro project, which lies about seven kilometres south of Mercator's processing plant, a maiden resource of 2.038 million tonnes of ore at 1.3 grams of gold per tonne (for 83,600 ounces of gold) has been estimated. Further work at Euro will higher grade material, which lies at a deeper level. A structure, identified by gravity survey, immediately south of Euro is being investigated.

At the Batavia project, which lies about six kilometres north of Mercator's processing plant, a resource of 318,000 tonnes at a grade of 2.4 g/t (for 24,200 ounces of gold) has been estimated. Shallow underground workings here, in the early 1900s, produced 180 ounces of gold from 276 tonnes of ore. Batavia has the potential to provide additional feed for the processing plant in the near term. Conversion of the Prospecting Lease to a Mining Lease is well advanced.

The Company also announced the placing of convertible loan notes to raise Ł200,000, the notes pay 8.5% per annum, and are redeemable at par by 15 July 2011 or can be converted into ordinary shares at 50p each after the first anniversary of the loan.

Patrick Harford, MD of Mercator Gold, commented:

“The maiden resources at Euro and Batavia represent continuing efforts by Mercator to expand its inventory of resources and reserves. They also support the Company's exploration strategy, which we expect will continue to bear fruit. Batavia is expected to contribute to production in the near term, and we maintain high hopes for the future of Euro.”
]]> http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080717-140608 Proactive in Brief Thu, 17 Jul 2008 13:06:08 GMT http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080716-231547 http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry080716-231547 Proactive in Brief Wed, 16 Jul 2008 22:15:47 GMT