St Brides Weekly News 13-08-2016

Your chance to recap on client news, interviews and updates from St Brides Partners.

Client catch-up:

Andalas Energy and Power received approval from Indonesia’s national energy company, Pertamina, to proceed with its proof of concept work programme at Tuba Obi East. This workover substantially reduces Andalas’ upfront costs and expedites the acquisition of key subsurface data.  Further news is expected in the coming weeks following budgetary approval from Pertamina.

Armadale Capital recruited Tanzanian expert, Emmanuel Mahede to its Board as Non-Executive Director, bringing extensive local knowledge and experience which the Company anticipates will be highly beneficial following the acquisition of the high grade Mahenge Liandu Graphite Project in Tanzania in July 2016.

Hummingbird Resources added another major institutional investor by way of a US$3.8 million private placing to Fidelity. Cash-rich Hummingbird has now raised almost US$75 million in the past three months – more than any other AIM gold company over the past four years – in order to accelerate development of its 2.2Moz Yanfolila gold project in Mali ahead of first gold pour next year.

Mayan Energy (formerly Northcote Energy) appointed Stephen Brock as Vice President of Operations, who brings 15 years’ experience to the role as the Company looks to maximise value at its Shoats Creek Field, Louisiana.

Noricum Gold significantly enhanced the size of its production target and stepped away from its near-term plans to deliver some small scale production after drilling results at the Bolnisi Copper-Gold Project in Georgia indicated the deposit was dramatically bigger than initial estimates suggested.  It also signed an MOU with its local outlining mining and processing arrangements for the future production of precious and base metal ores mined at Bolnisi.

Prospex Oil & Gas raised £775,000 to advance its Kolo Licence, onshore Poland, where the Boleslaw conventional gas prospect is on track to be drilled in Q4 2016. Alongside the development of Kolo, the funds raised will also be used to further the Company’s strategy to build a portfolio of high impact, onshore and shallow offshore European assets.

Secure Property Development & Investment received a €1.39 million termination fee from Nestlé Romania for its rental contract for SPDI’s Innovations Logistics Park in Bucharest.

You may have missed…

Noricum Gold MD Greg Kuenzel talking to BRR Media about the low cost profile of future production from the Bolnisi Copper and Gold Project in Georgia.

 

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