Shares in Central Rand Gold (LON:CRND) were up by nearly 9% after first quarter production rose by 70% to 4,777 oz.
The company says it is on target to increase mill capacity by 70% to 20,000 tonnes per month.
The first quarter showed marked improvements in the resource base of the company, with an updated resource statement resulting from work undertaken in February 2012.
Berkeley Resources (LON:BKY) has revealed encouraging results from initial drilling at the Villares prospect, which is 7km north of the Retortillo deposit.
The drilling programme has focussed on the Zone 19 and Zone 4 areas, and is the first step in identifying additional resources aimed at increasing and extending production from the proposed heap leach operation to be based at Retortillo.
Assays have been received for only nine of the 59 RC holes (total of 3331m) drilled to date.
All assay results are from the Zone 19 area and significant mineralisation was intersected in four of these holes.
Results include: 15m at 1524ppm U3O8 from 1m and 3m at 612ppm U3O8 from 25m in VIR-001; 2m at 1990ppm U3O8 from 9m in VIR-003; 9m at 2363ppm U3O8 from 6m in VIR-007 and 4m at 857ppm U3O8 from 4m and 3m at 1299ppm U3O8 from 19m in VIR-009 (Table 1).
Comparison of down hole radiometric results and assays for these nine drill holes indicates that anomalous mineralisation has been intersected in another 19 of the remaining holes where only radiometric data is available, including 7 holes at the nearby Zone 4 area.
Vatukoula Gold Mines (LON:VGM) has entered into a subscription agreement with Zhongrun International Mining whereby Zhongrun has subscribed for 9m new ordinary shares in the company at a price of 60p per share raising £5.4m.
The new subscription shares will represent approximately 9.2% of the enlarged issued share capital of Vatukoula.
In addition the company has agreed to grant to Zhongrun an option to acquire an additional 9m ordinary shares in the company. The option will be exercisable at a subscription price of 77p per share and is exercisable any time on and before 23 July, 2012. If exercised, the option would represent approximately 8.4% of the enlarged issued share capital of the company.
The funds raised will be added to working capital and also used towards a number of purposes, including drilling to convert current Inferred resources to Measured and Indicated Resource categories, as well as longer term capital and development projects.
Dave Paxton, CEO of Vatukoula, commented: "The Board welcomes the investment of Zhongrun in VGM and looks forward to developing a valuable strategic relationship with Zhongrun to assist in the development of the Vatukoula Gold Mine."
Underground mining operations at the Vatukoula mine were disrupted following extensive rainfall in the northern area of Fiji which caused some flooding on the lower levels of the mine and an accident in the Smith shaft. Flooding occurred in the lower levels of the Smith, R1 and Phillip areas. Water ingress was limited to a small number of stopes and development headings. Stopes and development affected were in the Philip and R1 areas with production areas at Smith Shaft unaffected.
The effect of the heavy rainfall impacted mine production for almost one week. Reduced shaft capacity was also experienced for a about 12 days whilst inspections and repairs to the Smith Shaft were undertaken and the shaft returned to normal operation. Limited hoisting occurred during this time.
It is expected that the disruption will reduce anticipated gold production for the current quarter by about 2,000 to 3000 ounces. Every effort will be made to ensure that there will be no material adverse effect on the company's forecast of annual production of 65,000 ounces.
Archipelago Resources' (LON:AR.) first quarter production was in line with its forecasts.
A total of 4,345,315 tons was mined and 32,189 oz of gold was produced.
Managing director and chief executive Marcus Engelbrecht said: "This is the first full quarter of gold production from Toka Tindung since achieving nameplate throughput in November last year.
"Production is broadly in line with our planned processing schedule and we remain on target to achieve full year guidance."
Anglo American (LON:AAL) has completed its $1.4bn divestment of the Scaw Metals Group with the sale of Scaw South Africa (Pty).
Scaw South Africa has been sold to an investment consortium led by the Industrial Development Corporation of South Africa and Anglo American's partners in Scaw South Africa (Pty) Ltd, being Izingwe Holdings (Pty) Ltd , Shanduka Resources (Pty) Ltd and the Southern Palace Group of Companies (Pty) Ltd for a total consideration of R3.4bn.
Anglo American chief executive Cynthia Carroll said: "The sale of Scaw brings the total announced proceeds from our divestments of non-core assets to $3.7bn since 2010, maximising value from these businesses for our shareholders."
Vedanta Resources' (LON:VED) subsidiary Sesa Goa posts cash profits of Rs1,110crores for the fourth quarter and Rs3,235crores for the year to the end of March.
The figures are 51% and 43% lower respectively than last time.
The decline was due to lower volume, higher export duty, reduced income from investments on account of lower cash balance; higher interest cost, and foreign exchange losses.
Sales of iron ore in the fourth quarter were 5.2 million tonnes compared with 6.6 million tonnes (6.4 million tonnes excluding Orissa) in the corresponding period last time due to the continued mining ban in Karnataka, and transport and logistics bottlenecks in Goa.
Highland Gold Mining's (LON:HGM) revenues rose by m ore than 23% in 2011 despite a fall in total production.
Revenues increased to $300.2m from $243.6m while earnings before interest, tax, depreciation and amortisation rose by nearly 30% to $157.1m.
Chairman Duncan Baxter said: "The $110m acquisition of a further 48.3% interest in the Novo mine completed at the end of the period represents a significant expansion of our production capability, while the strength of our balance sheet, which showed cash and short term investments of $126.7m at the year-end, leaves us well positioned to pursue our production growth objectives.
"We continue to anticipate an increase in output to between 200,000 - 215,000 oz of gold and gold equivalents in 2012."
Production in 2011 fell to 184,102 oz - down from 200,028 oz in 2010.
The company's flagship Mnogovershinnoye (MNV) mine delivered 143,864 oz, slightly less than its planned gold target, while Novoshirokinskoye (Novo), its second mine, provided its first full year of production at 33,293 oz of gold equivalent (in relation to the company's 48.3% share).
In addition, Belaya Gora contributed 6,945 oz of gold via delivery of oxide ore to MNV for processing.
(LON:AAL) Anglo American share price was +8.5p at 2302.5p
(LON:AMI) American Investment Trust share price was -0.5p at 529p
(LON:AQP) Aquarius Platinum share price was -3.45p at 134.75p
(LON:AR.) Archipelago Resources share price was +0.5p at 61p
(LON:BEM) share price was -0.25p at 13.88p
(LON:BKY) share price was +0.75p at 22p
(LON:CEY) Centamin Egypt Ld share price was +2.9p at 66.4p
(LON:CHL) share price was -0.25p at 12.75p
(LON:CRND) share price was +0.08p at 0.91p
(LON:CZA) share price was +1p at 54.5p
(LON:FDI) Firestone Diamonds share price was -0.25p at 6.88p
(LON:FRES) share price was +2p at 1561p
(LON:GEMD) share price was -2.3p at 267.7p
(LON:HOC) share price was -4.5p at 475.5p
(LON:KMR) Kenmare Resources share price was +0.93p at 51.83p
(LON:VED) Vedanta Resources share price was +3p at 1170p
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