Pity the poor shareholders in Petropavlovsk. They are being asked to participate in a rights issue that will cut their company’s debt from US$922 million to around US$700 million. Well and good, you might say, particularly if you were versed only in the comings and goings of the majors. But Petropavlovsk is no longer a…
Kefi Minerals, which took over an apparently moribund gold asset in Ethiopia after an equally moribund Nyota Minerals was unable to withstand the impact of the falling gold price back in 2012, has delivered yet another resource update for the project as part of an ongoing feasibility study. Back when Nyota parted with Tulu Kapi…
By Amy McLellan Shares in Aminex plc ticked higher on Tuesday as the London-listed company provided an update on its flagship Kiliwani North gas development in Tanzania. Last year the project was pencilled in for production start-up in early 2015 and it seems this has now slipped to “first half of 2015” as the company…
By Stewart Dalby TSX-Venture listed Cub Energy has recently reported on its fourth quarter 2014 output, the numbers for the twelve months of 2014 and the first 20 days of January 2015, from troubled Ukraine where it is entirely focused. In the report the company has said production was ahead for the final quarter 2014…
By Amy McLellan Rockhopper Exploration, which is due to present at Oilbarrel.com’s 70th conference on Wednesday, has announced the mobilisation of the Eirik Raude drilling unit from West Africa to the Southern Atlantic. Shares in the AIM-quoted company surged more than eight per cent in morning trading to 56 pence per share in anticipation of…
The Stratex model is in fine fettle it seems, after the company announced the signing of a new deal on one of its lesser-known Turkish licenses. Under the terms of the deal, the Turkish company Anadolu – a subsidiary of a major electricity generator – will spend up to US$1.5 million on drilling at Stratex’s…
Towards the end of a research note released on the morning of 2nd February, Investec notes the wide disparity in potential valuations for Rio Tinto. According to data collated by Rio Tinto itself from 29 analysts, the estimates for the net present value of the company (NPV) range from a pretty lowly US$43 billion, or…
By Stewart Dalby In line with its established practice, Alkane Energy the UK gas-to-power producer has released a trading statement ahead of its final results for 2014 which are due to be announced on March 11. The company has reported a weak final quarter to 2014. The mild and stable weather at the start of…
By Amy McLellan Atlantic Petroleum has added to its stock of licences in Norway, picking up two new tracts in the APA 2014 bid round. This takes the Faroe Islands-based company’s tally of licences in Norwegian waters to 10 just two years since its entry on the NCS. The latest awards host mapped prospects close…
By Our Man in Oz Minews. Good morning Australia, your market seems to have run out of steam after a strong start to the year. Oz. That was the case with the mining sector last week, particularly gold stocks, though the overall trend as measured by the all ordinaries index remained positive. Minews. Gold continues…
