- Compass Group 887.00 0.00
- Croda Intl. 2,529.00 0.00
- Eurasian 254.80 0.00
- Hsbc Hldgs.uk 726.00 0.00
- Next 4,580.00 0.00
- Woburn Energy 1.50 0.00
- Xtract 0.13 0.00
Mining Sector: Hambledon Mining up after it reveals increase in gold output
Friday, 20th April 2012
Shares in Kazakhstan-focused Hambledon Mining's (LON:HMB) rose afer it reported that gold production increased to 4,870 ounces in then three months to the end of March - 9.4% up on last year.Mining activities were primarily from the main open pit, with modest amounts of ore extracted from the underground mine.
Chief executive Tim Daffern said: "Extraction from underground remains on schedule to attain a full year target of 100,000 tonnes in 2012.
"Because of the extremely cold weather, the first quarter is always the most challenging, but nevertheless the Company produced a total of 4,870 ounces gold, an increase year-on-year for Q1 of almost 10% and improvements were seen across a number of key indicators.
"The performance and reliability of the process plant was encouraging during severe weather condition, helped by the winterisation programme carried out in 2011."
Beowulf (LON:BEM) will not be prosecuted by Luleå or Gällivare over alleged technical infringement of the Swedish Minerals Act relating to historic drilling conducted on the Kallak project areas without valid workplans being in place.
The company is still awaiting a separate decision on this matter from the mining inspector at Bergsstaten.
Beowulf says it continues to consult with the mining inspector and the local Saami community to seek to resolve the objections raised to its work plans filed and notified in respect of the company's 2012 drilling campaign on its Kallak nr 1 and Parkijaure nr 2 permit areas, on the grounds that it could potentially affect the Saami community's seasonal reindeer herding.
Drilling operations at both Kallak North and Kallak South will remain suspended pending the outcome of this process.
The sector's biggest risers were Ncondezi Coal (LON:NCCL) and Pan Pacific Aggregates (LON:PPA) - up by nearly 13% and more than 11% respectively - while the biggest faller was GCM Resources (LON:GCM) - down by nearly 15%
At 3:49pm:
(LON:AMI) American Investment Trust share price was -6p at 563.5p
(LON:AQP) Aquarius Platinum share price was +6.2p at 144.1p
(LON:BEM) share price was -0.87p at 13.63p
(LON:BKY) share price was +0.75p at 21.25p
(LON:CEY) Centamin Egypt Ld share price was +1.05p at 64.55p
(LON:CHL) share price was +0.25p at 12.5p
(LON:CZA) share price was -0.12p at 55.88p
(LON:FDI) Firestone Diamonds share price was +0.01p at 7.38p
(LON:FRES) share price was 0p at 1626p
(LON:GCM) GCM Resources share price was -11.5p at 67.38p
(LON:GEMD) share price was -2.35p at 271.85p
(LON:HMB) Hambledon Mining share price was +0.11p at 1.88p
(LON:HOC) share price was -1.1p at 489.4p
(LON:KMR) Kenmare Resources share price was +0.6p at 54.35p
(LON:NCCL) share price was +5.75p at 51p
(LON:PPA) share price was +0.25p at 2.5p
(LON:VED) Vedanta Resources share price was +36p at 1236p
Story provided by StockMarketWire.com
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