Vast Resources PLC (LON:VAST) moved into the black on the back of a sharp rise in revenue in the first half of its financial year. Profit before tax from continuing operations in the six months to the end of September clocked in at US$265,000, versus a loss of US$3.62mln in the same period of last year.
Arian Silver Corporation (LON:AGQ, CVE:AGQ) said preliminary exploration work had found evidence of the presence of two major vein systems at its Los Campos project. Arian owns mineral concessions over some 1,500 hectares in the heart of the Zacatecas mining district of Mexico, which includes the Los Campos project.
Goldplat PLC (LON:GDP) has received a three year renewal for its gold recovery licence in Ghana. It means Goldplat’s GRG subsidiary can purchase and process by-products and export any gold recovered.
Kefi Minerals (LON:KEFI) has reiterated its Tulu Kapi project in Ethiopia stands up even with the recent drop in the gold price. Gold has shed about US$200 per ounce in the past couple of months but at the current price of US$1,150, the NPV based on an underground and open pit model is US$74mln.
NetScientific PLC (LON:NSCI), the backer of fledgling healthcare companies, said digital health company Wanda has a new chief executive officer. Foad Dabiri, who has been Wanda’s chief technology officer since March 2014, will be taking over from Steve Curd as chief executive officer (CEO) with immediate effect.
Hurricane Energy PLC (LON:HUR) boss Robert Trice has said the firm is ready to continue its exploration efforts off the west coast of the Shetland Islands. The next well to be drilled is Halifax which is located about 30 kilometres (km) or so from Lancaster and sits on the same Rona ridge.
Drilling at Mariana Resources Ltd’s (LON:MARL) Hot Maden project in north-east Turkey continues to deliver “exceptional” gold and copper grades. The data from the infill programme continue to confirm the continuity of the bonanza-grade mineralisation, particularly within Hot Maden’s Main Zone.
Faroe Petroleum (LON:FPM has unveiled a near £300mln finance package to develop its assets on the Norwegian side of the North Sea. Some US$250mn (£200mln) will come from a reserve-based lending facility, with a further £92.5mln of exploration financing from Norway.
The successful completion of a US$30mln equity fundraiser means the construction phase at Berkeley Energia PLC’s (LON:BKY) Salamanca uranium project will begin early in the New Year. For the proceeds from the share placing have allowed it to order primary and secondary crushers from the engineering and tooling giant Sandvik.
Bacanora Minerals Ltd (LON:BCN CVE:BCN) has pushed back the feasibility study timeline at its Sonora lithium project in Mexico but is now in advanced talks with a potential Asian offtake customer. Mark Hohnen, executive chairman, said securing an offtake partner was key to commercialise Sonora.
A City broker has upgraded its valuation of Anglo Pacific Group PLC (LON:APF TSX:APY) following the latest round of coal price agreements. Peel Hunt has raised its target to 141p a share from 128p and retains its ‘add’ on the stock.
First Property Group PLC (LON:FPO) said the fund management mandate given to it by the Shipbuilding Industries Pension Scheme (SIPS), is now 95% invested. The property fund manager and investor received the mandate in January of this year.
Trinity Exploration & Production PLC’s (LON:TRIN) creditors have approved their part of a US$15mln refinancing of the Trinidad oil company. Shareholder approval is now needed at a general meeting on 29 December to get the restructuring passed.
High Power Petroleum LLC (H2P) has completed the acquisition of 25% of Northern Petroleum’s (LON:NOP) assets in Canada. The deal also involves stakes in Northern’s assets in Italy and Australia, which are expected to complete in the New Year once regulatory approval comes through.