St Brides Weekly News 15-04-2016

The EU Referendum campaign is officially in fullswing and whether you are planning to vote to stay in or to leave, with disputes aplenty amongst both groups, the coming weeks are sure to be eventful. There’s even helpful EU Jargon guide circulating the internet which you can read here. With the campaigns underway and alleyes on the 23 June, all that’s left to say is, may the best team win. In the Brief this Week .

Alecto Minerals (ALO) announced an agreement for vendor financing at the Matala Gold Project in Zambia and positive results from a feasibility study; Anglo Asian Mining (AAZ) provided an operations and production update on its Gedabek gold, copper and silver miner in western Azerbaijan; DekelOil (DKL) reported a 134% increase in revenues to €23.4 million following record production as it released its final results; Hummingbird Resources (HUM) final results demonstrated the fantastic progress made in 2015 towards first gold pour in 2017 at the Yanfolila Gold Project in Mali; Keras Resources (KRS) raised £1.25m to accelerate the development of its Australian gold portfolio; whilst Strat Aero (AERO) raised funds to support the new CEO’s rollout of the fullservice drone offering.

The Brief

Alecto Minerals announced the results of an independent feasibility study at its Matala Gold Project in Zambia, which demonstrated positive economics and a low capex of £14m for a 400,00 tonnes per annum oxide and transitional open pit operation, with a mine life of approximately 4 years and 8 months and exploration upside as wellas underground potential. Pursuant to the results, the Company has an agreement in place to arrange vendor financing for the Project, by way of a Loan, with Xinhai Machinery, thereby significantly de-risking the Project. It has also entered into an agreement for a proposed Design, Build and Operate contract.

Anglo Asian Mining provided a Q1 2016 update, which highlighted that gold, copper and silver production during the period stood at 14,172 ounces, 432 tonnes and 31,342 ounces, respectively. Despite this representing a fallon production figures during the same period in 2015, the Company anticipates that this will ramp up in the coming months thanks to a 2nd SAG Millto combat harder rock encountered which is expected to be operational in Q3 2016, and revenues a re also likely to be strengthened by the rising gold price, which had its best quarter performance in 30 years.

DekelOil released its final results for the full year 2015, with record production at its Ayenouan palm oil project in the Cote d’Ivoire leading to a substantial revenue increase of 134% to €23.4 million. The Company reported fullyear production of 35,770 tonnes of crude palm oil [‘CPO’! and 6,221 tonnes of kernels at its CPO extraction mill. With DekelOil
continuing to deliver on its promise to add significant value to its West African palm oil operation, the results willcome as welcome news to its shareholders.

Hummingbird Resources has made significant progress in the development of its 2.2Moz Yanfolila Gold Project in Mali as announced in its f inal results this week. An optimisation of the mine plan highlighted increased size and extended life of mine as well as robust economics at the Project ahead of f irst gold pour targeted for 2017. With the gold price ticking back up, Hummingbird is well positioned to take advantage of industry recovery and return to a positive market.

Keras Resources raised £1.25m through a placing at a price of 1.1p, with the proceeds going towards the acceleration of production at the high-grade Prince of Wales Underground Mine [POW]. 30km north of Kalgoorlie, where the Company has a f ive year Tribute Agreement. POW is expected to produce 15,000 to 20,000 oz of gold and the proceeds raised willbring forward the steady statelevel of 30,000 to 40,000 ounces per year in H 1 2017.

Strat Aero raised £400,000 via a placing which will go towards supporting the new CEO’sstrategy to maximise the potential of Strat Aero’s existing assets and relationships, as the Company enters a new phase in its development.. With a number of revenue streams in place and a new CEO who brings with him first rate operations experience, the leadership team remain focused on building Strat Aero into the go-to provider of UAV enabled technology.

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