UK- Proactive mining summary including Ariana Sirius Xtract KEFI Savannah Metal Tiger and more


(MENAFN- ProactiveInvestors)Where else can one start a mining round-up of the week that in the Yorkshire Moors and Sirius Minerals (LON:SXX) has received the go-ahead to build its proposed York Potash project. It was announced locally last night that a special committee of the North York Moors National Park Authority approved planning permission. A narrow vote eight for and seven against favoured the proposed development. Another company boosted by some good news was Canadian gold silver and antimony miner Mandalay Resources (TSE:MND) which agreed a new deal with striking miners at its Cerro Bayo operation in Chile. The new collective agreement runs for two years. A separate deal is being negotiated with the representatives of plant operators and is expected to be agreed shortly. Staying in North America Canadian gold junior Medgold (CVE:MED) has reported healthy gold indications close to the surface from drilling at Lagares in Portugal. Best of the intersections from the five holes was 17.49 metres (m) at a grade of 4.45 grams per tonne (g/t) gold from 10m down but all of the holes indicated gold mineralisation said Dan James Medgold's president. Meanwhile Pennsylvania coal miner Atlantic Coal (LON:ATC) continues to report good progress at its Stockton mine and expects first half (H1) revenues to end June to be stronger than the same period last year. Revenues for the six months are expected to come in at around US$10.3mln compared to turnover of US$9.447mln in the same period in 2014. To Africa – and KEFI Minerals (LON:KEFI) hailed a "very successful" second  quarter in which  it continued to progress its flagship Tulu Kapi project in Ethiopia. The firm was granted a 20-year mining licence and completed the 2015 Definitive Feasibility Study. Elsewhere on the continent In a spot of late spring cleaning Hummingbird Resources (LON:HUM) has sold its interest in the Asheba gold licence in Ghana to a private company called Taoudeni Resources. The consideration is 10% of Tauodeni plus US$1.00 per every additional ounce of gold discovered. From selling to buying and Small cap mining investor Metal Tiger (LON:MTR) has ploughed £75000 into AIM-listed gold group Ariana Resources (LON:AAU). Metal Tiger bought a further 8.3mln shares at 0.9p per share bringing its investment in Ariana so far this year to £250000 or 27mln shares. Sticking with Metal Tiger the company unveiled further results indicating a substantial tungsten deposit at the Logrosán site in Spain. First phase drilling is now complete at Target 2 and tungsten mineralisation has been confirmed over an increased strike length of 450 metres while tin was encountered in two holes at the south-west end of the target the firm noted. Meanwhile Ariana Resources (LON:AAU) says the second half of 2016 will probably see the first gold pour at Kiziltepe with steady state output of 20000 ounces gold equivalent per annum expected at some point during the same period. The emerging Turkey focused gold miner gave the timeline at its AGM today. In other gold news China Nonferrous Gold (LON:CNG) revealed the rate of construction at the gold Pakrut project has now stepped up and production is expected to start at the end of October this year. As reported in April unhelpful weather and delays to obtaining visas for suppliers and site employees had caused delays at the site in the Republic of Tajikistan. Elsewhere Xtract Resources (LON:XTR) has bought a new project in Mozambique scheduled to become the country's first commercial gold mine. The Manica gold licence will cost Xtract US$12.5mln and includes the Fair Bride open pit project where a bankable feasible study (BFS) is due in six months and production a year later. Away from gold Golden Saint Resources (LON:GSR) found more than 100 carats worth of diamonds at its bulk sampling programs in Baja and Tongo in June. The haul included a 4.41 carat diamond and a 3.12 carat white diamond. Finally Savannah Resources (LON:SAV) has identified a number of high priority exploration targets at Block 4 in Oman following a recent airborne survey. The explorer has also raised £0.55mln to start work on a resource definition and scoping study at the Mutamba/Jangamo mineral sands joint venture with Rio Tinto in Mozambique.


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