Savannah Resources (LON:SAV) – CORP: Oman update
Market Cap: £7.3m; Current Price: 2p;
Final drill results and update on Lasail
The final results from the Block 4 and 5 drill programme include; 16m at 0.85% Cu from 105m (15B5DD006) at Mahab located in Block 5 and 9m at 0.5% Cu and 2g/t Au from 4m (15B4RC009) at Gaddamah located in Block 4.
Data compilation of historic drill results for 155 holes (18,745m) at the previously producing Lasail Mine has highlighted both open pit and underground potential mining opportunities. Some of the historic drill results include; 16.8m at 3.1% Cu from 86.37m (2-29), 15.8m at 3.9% Cu (MOB197-007 – a horizontal underground hole) and 56m at 1.52% Cu from 103m (2-2).
NORTHLAND CAPITAL PARTNERS VIEW: The final set of assay results from Savannah Resources latest drill programme continues to expand the areas of known copper and gold mineralisation at Blocks 4 and 5. The compilation of the historic drill holes at the Lasail Mine has added significant data at a low cost that can be included in an update to the current mineral resource estimate of 1.7mt at a grade of 2.2% Cu. Priorities at Blocks 4 and 5 for 2016 include: planning of additional drill programmes; completion of a mineral resource estimate for the previous producing Aarja, Bayda and Lasail Mines; feasibility study of an amalgamated mine development of several deposits; application for mining licences and associated financing activities.
Feedback plc (LON:FDBK): Interim results
Market Cap: £3m; Current Price: 1.5p
Interim results for the six months ended 30 November 2015
Feedback issued interim results for the six months ended 30 November 2015.
Revenue for the period was £225,000 (2014: £229,000).
Loss before interest, tax and amortisation was £132,000 (2014: Loss £138,000).
Loss after tax was £143,000 (2014: loss of £219,000).
Cash as at 30 November 2015 was £164,000 (2014: £268,000).
NORTHLAND CAPITAL PARTNERS VIEW: Feedback’s interim results show a small reduction in the loss for the period on similar levels of turnover to 2014. Management indicated that operating expenses have been significantly reduced. As such, when compared to the last financial year, results for the current financial year are expected to show reduced operating loss.