By Amy McLellan Shares in beleaguered Afren plc surged almost 20 per cent in morning trading on Monday as the London-listed company provided an update on its capital structure. The oil producer, which pumps around 32,000 bpd from fields in Nigeria, has been under pressure since last summer when serious governance issues were unveiled, leading…
By Alastair Ford “We’ve been through tough times”, says Cobus Loots, the new chief executive of Pan African Resources. Indeed, the company’s latest set of results, for the six months to December 2014, don’t exactly make for good reading: revenue dropped by more than £16 million over the corresponding period in the previous year, while…
By Amy McLellan Green Dragon Gas, the China-focused coal bed methane producer, last week released its annual audited reserves report which, for the ninth consecutive year, revealed positive growth. Net 1P reserves were up 17 per cent at almost 148 BCF and 2P reserves were up 12 per cent at 426.8 BCF. The 3P number…
By Stewart Dalby The word” shortly” or its equivalents have been used so often about several aspects of Aminex’s flagship project, the Kiliwani North gas development in Tanzania, that they seem almost to have lost their currency. Shareholders have been told many times in recent months that the pipeline linking the KN-1 well to the…
By Our Man in Oz Minews. Good morning Australia. Your market seems to have had a fairly good week. Oz. Fairly is one way of describing what was actually a pretty flat week. Most mining stocks gained a few cents, and the mining index was up a healthy three per cent, but there wasn’t a…
By Eithne Treanor There was a sense of optimism in parts of the market at the end of this week as oil prices began to look stronger and supply appeared to ease. The Saudi Arabian oil minister described the market as “calm” after months of volatility that had traders and investors on edge. In early…
What a week for shareholders in Gulf Keystone Petroleum, which has hoisted the “for sale” sign as it wrestles with the challenges of selling oil in Kurdistan with the necessity of meeting its debt obligations. Shareholders have long speculated about the future of the oil group, which soared in value, migrating from AIM to London’s…
The latest metallurgical results from the Merelani East project, the second graphite project in line for development by Kibaran Resources, certainly give plenty of grounds for optimism. Testing has confirmed high distribution of large flake graphite with very high grade carbon concentrates recovered from simple flotation. That means the quality of the graphite is good…
By Amy McLellan The patience of investors in Bowleven has been sorely tested many times over the years but, more than ten years since its IPO, it looks like that patience will soon be rewarded.This week the Cameroon-focused E&P announced that a key milestone has been reached, with the Presidential decree for its Etinde transaction…
By Alastair Ford The story of the Madagascan mining opportunity presented by Tantalus Rare Earths has a long history, according to chief executive officer Thomas Hoyer. “It’s in an area that has been explored over many years by many companies”, he tells Minesite on the phone from Germany, where he’s based. “There was Soviet exploration.…
