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Resource round-up: Ind. Resources, Ormonde, Solo Oil ...

Mon, 18th Jun 2012 09:10

The Italy focused gas company, Independent Resources (IRG), said it is accelerating its strategy review after an earthquake struck the area where its Rivara underground gas storage project is situated. The group said that the whole concept of underground natural gas storage is now being called into question as a result of what IRG's Chairman, Grayson Nash called "irrational fears". The company declared a loss of £0.98m in the six months to the end of March, versus a loss of £0.47m the year before. The group had net cash of £1.65m at the end of March.Ormonde Mining rose on Monday after it reported encouraging progress at its El Facho gold structure at the Zamora Gold Project in Spain. The firm said it had established and defined a gold mineralised zone over a strike length of some 600m with the mineralisation remaining open both at depth and along strike. The project is a joint venture with Aurum Mining. Ormonde rose 3% following the news.Solo Oil fell 4.5% after it announced production at its oil wells in Western Ontario, Canada, would be delayed. The firm said production from the main Ausable oil production wells had been deferred by several weeks. But it added: "It is clear that all the commissioning issues are with surface equipment and that the wells will meet previously anticipated performance expectations".Shares were off slightly at Coal of Africa after it said negotiations were ongoing with Exxaro Coal over the latter taking a 30% in the Makhado Project in South Africa. "The parties have agreed to continue negotiations and the assessment process to finalise the valuation of the Makhado Project, and that the deadline for a formal decision regarding the exercise of Exxaro's right to a 30% equity participation in the Makhado Project shall now be 30 September 2012," the firm said. Coal of Africa's shares were down 2% in early trading.Tertiary Minerals said it had secured a £10m funding facility, pushing shares up 4.3% in early trading. The firm said that the deal with Darwin Strategic gave it a flexible source of funding which could be used entirely at the company's discretion. "As we look to a transition of our fluorspar projects from exploration to development it is important that we diversify the range of financial resources available to the company," it said.mm

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31 Oct 2013 08:52

Thursday broker round-up UPDATE

African Barrick Gold: Deutsche Bank ups target price from 145p to 190p and retains its hold recommendation. HSBC takes target price from 170p to 200p keeping a neutral rating. JP Morgan raises target price from 140p to 180p and reiterates a neutral rating. Balfour Beatty: Berenberg increases target

30 Oct 2013 12:04

Coal Of Africa Finalises RUB210 Million Facility With Investec

15 Oct 2013 09:57

Coal of Africa Board Approves ZAR220 Million Expansion Plan

6 Sep 2013 15:00

Coal Of Africa Says Makhado Project Granted Environmental Authorisation

2 Sep 2013 15:07

Pearson's Ethridge cashes in ADRs

The head of Pearson's North America business raised almost a million dollars by selling American depositary receipts (ADRs) in the education publishing giant. Will Ethridge, who leaves Pearson at the end of 2013, sold 50,000 ADRs on August 30th for $19.6782 (£12.62) each - a total of $983,910. Pear

19 Jun 2013 11:47

STOCKS NEWS EUROPE-Coal of Africa outperforms in lower AIM index

The FTSE AIM All Share index falls 0.1 percent, in line with the FTSE Small Cap index, while the midcaps are 0.4 percent lower. Coal of Africa is among the top performers on the AIM index, ahead 9.5 percent, after announcing the results of a Definitive Feasibility Study at its flagship Mak

19 Jun 2013 08:27

Wednesday broker round-up UPDATE

Aggreko: UBS cuts target price from 1975p to 1850p downgrading from buy to neutral. JP Morgan revises target price from 1870p to 1800p and retains a neutral rating. Alliance Pharma: Investec shifts target price from 35.20p to 35.80p, while downgrading from add to hold. Associated British Food: UBS

3 Jun 2013 10:14

Coal of Africa says to shut South African colliery

JOHANNESBURG, June 3 (Reuters) - Junior coal mining firm Coal of Africa plans to shut its Mooiplaats colliery in South Africa and will begin talks with unions and other parties on potential job cuts, it said on Monday. "(Coal of Africa) recognises the importance of conserving jobs, but at

3 Jun 2013 07:22

Monday broker round-up UPDATE

Anglo Pacific Group: Finncap cuts target price from 320p to 279p staying with its buy recommendation. Ashtead Group: Citi takes target price from 660p to 750p and maintains a buy recommendation. Centrica: Berenberg ups target price from 370p to 380p keeping a hold recommendation. Coal of Afica: I

3 Apr 2013 08:41

Wednesday broker round-up UPDATE

Aggreko: Credit Suisse takes target price from 1850p to 2000p staying with its neutral rating. Andor Technology: Investec ups target price from 500p to 525p reiterating a buy recommendation. AngloAmerican: Credit Suisse cuts target price from 2100p to 1900p and reiterates a neutral rating. Antofa

1 Feb 2013 09:48

Coal of Africa's production hit by strikes

Coal of Africa on Friday said production fell over the last three months of 2012 following strikes at its Mooiplaats mine in South Africa. The mining company reported a 24% quarter-on-quarter drop in run of mine coal output from 1.52m tonnes to 1.15m tonnes. Coal sales to the domestic market decl

1 Feb 2013 09:17

Coal of Africa receives 80m dollars from Beijing Haohua Energy

AIM-listed mining company Coal of Africa has confirmed the receipt of 80m dollars for the conditional placement from Haohua Energy International company. This followed regulatory approvals from the Australian Foreign Investment Review Board, authorities in the People's Republic of China and approva

1 Feb 2013 06:35

UPDATE 1-CoAL restarts Vele ops in S.Africa after floods

JOHANNESBURG, Feb 1 (Reuters) - Junior coal mining company Coal of Africa (CoAL) has restarted limited operations at its Vele colliery in South Africa following heavy rainfall and flooding around the mine. Operations at the mine, in the northern Limpopo province, were suspended earlier this

22 Jan 2013 05:19

Coal of Africa suspends Vele ops in S.Africa due to rains

JOHANNESBURG, Jan 22 (Reuters) - Junior miner Coal of Africa (CoAL) said on Tuesday it had suspended operations at its Vele colliery in South Africa after heavy rains led to flooding at the mine. "CoAL expects normal operations to resume in approximately seven days subject to receding rai

9 Jan 2013 14:00

Coal of Africa boosted by speedy subscription process

South African mining company Coal of Africa saw its shares rise after a wholly-owned subsidiary of Beijing Haohua Energy told the miner that it has received the requisite approvals ahead of schedule from the relevant Chinese authorities giving the go-ahead for the subscription for 100m dollars worth

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