Investors in Indonesia-based gold miner Archipelago Resources (LON:AR.) welcomed the firm's half year numbers this week, which showed it shrugging off the weak gold price as output from its Toka Tindung mine rose while costs fell.
Revenues rose by 14% in the six months to June despite a drop in the average price of gold over the period to US$1,492 an ounce (oz) from US$1,661.
Archipelago offset that with higher production from Toka Tindung, where output rose by 20% to 72,636 ounces gold equivalent (gold plus silver), and sharply reduced costs.
Cash costs fell 18% to US$618 per ounce as the strip ratio fell while the head grade for gold produced rose to 2.69 grams per tonne from 2.29.
Revenues for the half year rose to US$110.9mln (previous year: US$96.9mln), with earnings 12% higher at US$19.1mln.
Cash flow also jumped to US$40.7mln, with gross cash and equivalents now around US$108mln.
The numbers mean investors will be rewarded by a further interim dividend of 0.5p a share to be paid on September 27 this year.
From gold to silver and Arian Silver (LON:AGQ CVE:AGQ) is to raise up to C$15mln through a placing of convertible loan notes.
Funds from the issue will be used on numerous things, including the acquisition of the El Bote processing plant, which will need to be transported piece by piece to a more convenient location. The second-hand custom mill is expected to deliver cost savings of some 75% compared to previous toll milling operations.
Proceeds from the issue will also be used on the refurbishment of the plant, new ground works at the new site of the mill, as well as expansion of the San Jose mine in Mexico.
Any funds left over after all that lot will be used for working capital and corporate purposes.
In other news, US-focused Atlantic Coal (LON:ATC) lifted run-of-mine (ROM) anthracite production from its Stockton mine by 24% in the second quarter.
The firm produced 122,616 tons in the three months to June 30 from the Pennsylvania mine compared to 98,529 tons in the first quarter.
The miner highlighted it had successfully weathered a period of lower anthracite prices and suppliers seeking to reduce inventory.
Elsewhere, Regency Mines (LON:RGM) said Ram Resources (ASX:RMR), which is set to acquire a stake in the Fraser West project, has unveiled a A$1.5mln capital raise.
The fundraising sees 5 billion Ram shares issued at A$0.0003, and if completed, fulfils a remaining key condition of the disposal - the terms of which were amended earlier this month.
The Australian project, prospective for gold and base metals, consists of three tenements with an area of 271 sq km.
The new agreement will see Ram acquire a further 70% of the tenements - to take its holding to 80% - while Regency will take a 19.9% stake in Ram though the issue of new shares.
Meanwhile, Anglesey Mining (LON:AYM) is weathering the storm of difficult trading conditions across the resources sector, chairman John Kearney said in the group’s annual report.
The company will see through the rest of current downturn, he adds.
Anglesey owns a 15% stake in Toronto listed Labrador Iron Mines (TSE:LIM) as well as a mine development project in North Wales.
“All mining stocks are suffering in the current marketplace and both Labrador Iron and Anglesey Mining have been part of this severe downturn.
“We hope that as LIM demonstrates its current production capability, and with the benefit of a price protection programme in place to guard against any repeat of last year's low prices, that the market will recognise the inherent value in LIM which should be reflected in the Anglesey share price.
There was also significant news from Sunrise Resources (LON:SRES), which revealed it applied for licences for two gold prospects in Western Australia.
The company, which also digs up diamonds, said the Corona and Baker’s areas are located 150km east of the company’s flagship Cue diamond project.
The prospects sit on the highly prospective Meekatharra Greenstone Belt, which has yielded over 5.5 million ounces of gold and hosts a number of producing gold mines.