St Brides Weekly News 24-09-2016
Your chance to recap on client news, interviews and updates from St Brides Partners.
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.
Andalas Energy and Power (ADL) bolstered its Board this week with the appointment of Hurricane Energy Chairman Dr Rob Arnott, which served as an endorsement of the Company’s strategy and emergence as a potentially important energy company within the Indonesian power market.
Armadale Capital (ACP) interim results highlight the Company’s successful entry into the prospective graphite market through its acquisition of the high-grade Mahenge Liandu Graphite Project in Tanzania, where drilling has just got underway.
Dekel Oil (DKL) reported a record half year performance at its 86% owned Ayenouan Palm Oil Project in Côte d’Ivoire which saw revenues up 24% to €16 million and earnings 35% higher at
€3.1 million on the back of higher palm oil production.
Goldplat (GDP) proposed the appointment of growth company and resources specialist Matthew Robinson, subject to approval at the AGM, as its new non-executive director, bringing with him over 12 years of experience in the mining and natural resources sectors.
Guscio (GUSC) strengthened both its Board and senior management team with two new appointments that will see the Company strengthen its partnership with the Youth Sports Trust and gain a strong network of contacts. The Company also it will be merging its two technology
arms, Sportsdata and Dataplay to form an enlarged group and is proposing to change its name to Sportsdata plc.
Highlands Natural Resources (HNR) commenced testing of its patented DT Ultravert technology in collaboration with Schlumberger, Laramie and Calfrac in the Piceance Basin, US while drilling also got underway at Helios Two its potential helium and natural gas play in Montana.
Keras Resources (KRS) commenced milling of the first 10,000t batch of gold ore from the Wycheproof deposit in Australia. The Company has a 50:50 profit share agreement to mine the deposit.
Prospex Oil & Gas (PXOG) interim results highlighted that drilling at the Company’s 49% owned Kolo Licence, onshore Poland is fully funded and on track to commence in Q4 2016.
Savannah Resources (SAV) achieved another significant milestone towards the development of Block 5, Oman after submitting mining licence applications for copper assets, where it is targeting production by late 2017.
Secure Property Development (SPDI) interim results demonstrated stable revenue generation from its south eastern European real estate portfolio, marking the third consecutive year of positive EBITDA at €0.62M; €2.66M rental income and cost reductions.
You May Have Missed…
Highlands Natural Resources sat down with Juliet Mann of Proactive Investors to discuss the testing of its innovative DT Ultravert refracking technology as well as drilling at Helios Two. Watch the full interview here….
Secure Property Development & Investments CEO Lambros Anagnostopoulos spoke with LSE ShareTalk to discuss the Company’s interim results which went out this week. Listen here…
In the news this week…
FT– Oxford University has been named the world’s best university in the Times Higher Education table, becoming the first UK University to top the list.
BBC News – Yahoo announced that ‘state-sponsored’ hackers stole information from 500 million users in 2014, the largest publicly disclosed attack in history.
Independent – Big banks set for Shoreditch invasion as HSBC looks to snap up huge office in formerly ‘trendy’ area.
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