Shares in Gemfields PLC (LON:GEM) slumped on Tuesday after Pallinghurst Resources revealed it has enough support from shareholders to push ahead with its plans to de-list the emerald and ruby miner.
Pallinghurst already owns a 47% stake in Gemfields and said on Monday evening that it had received acceptances from investors representing a further 28% of the shares in issue.
Shares in Telit Communications Plc (LON:TCM) perked up as it won a court battle with the Italian tax authorities. The Italian tax authorities' appeal against the annulling of three VAT assessments for Telit’s Italian business has been rejected.
Serbian focused miner Tethyan Resources PLC (LON:TETH) has appointed John Proust as non-executive chairman to replace Christopher Goss who resigned last week. Proust is the representative of Southern Arc Minerals, which holds 29.9% of the company.
NQ Minerals Plc (LON:NQMI) has retained Bedford Row Capital Advisers Limited as arranger and Lead Manager for a proposed asset-backed bond to raise up to £25 mln, which would be listed in Frankfurt. The Bond would have a five year term, yielding 12% pa and be secured by the assets of NQ Minerals.
Sunrise Resources Plc (LON:SRES) has discovered a new area of pozzolan to the north-east of the Main Zone at its CS Project in Nevada. An additional 17 Mining Claims have now been staked to include the new discovery area which is now referred to as the "Northeast Zone".
The Northeast Zone has a mapped area approximately 650m long by 650m wide. Four surface samples taken at different localities from within the Northeast Zone have been submitted for cement replacement strength testing.
Satellite Solutions Worldwide Group PLC (LON:SAT), which specialises in providing broadband services in rural areas, has seen an acceleration in the customer sign-up rate this year. Customer numbers are now around 90,000, up 14% since the start of the year, with particularly strong growth in Australia.
Richland Resources Ltd (LON:RLD) has signed agreements with two sightholders for sales of sapphires produced from its Capricorn mine in Australia, as the ramp up of production continues.
Rambler Metals & Mining PLC (LON:RMM) has initiated a new round of drilling in the footwall zone and in the massive sulphides at its producing Ming copper-gold mine in Newfoundland & Labrador. These areas have previously been underexplored and could yield mineralisation that will transform the extent of the known resources at Ming
Galileo Resources PLC (LON:GLR) said the sample analysis programme following the drilling programme at its Concordia copper project will take a bit longer than expected as the consultants are converting current and historical data to a unified grid coordinates system.
European Metals Holdings Limited (LON:EMH, ASX:EMH) has declared a maiden ore reserve for the Cinovec lithium-tin deposit in the Czech Republic alongside a A$2mln interim funding package that will “maintain momentum” behind the project. The reserve comes in at 34.5mln tonnes of ore grading 0.65% lithium oxide.
Natural resources investment firm Metal Tiger (LON:MTR) said its partner in the Logrosan Minerals joint-venture is currently assessing and costing an exploration programme that will best extract value from the pair’s assets in Extremadura, Spain.