StockMarketWire.com - Minera IRL's [LON:MIRL] shares rose after the blockade of the Corihuarmi mine was lifted and operations resumed.

The company and members of the Atcas Community met last night and successfully resolved the outstanding issues raised by the community.

In the new agreement, the surface use agreement with the community is extended through 2018 and the company reaffirmed its commitment to support local businesses and social programmes. The loss of production during the temporary occupation is not expected to have a material impact on the operation.

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Sunrise Resources [LON:SRES], the AIM-traded diversified mineral exploration and development company, has provided an update on the progress of the Phase 1 drilling programme on its Bay State Silver Project in Nevada, US.

The Phase 1 drill programme, comprising three holes for a total of 500m, started last month and was expected to last for two weeks with assay results expected six weeks after completion.

The drill programme is now expected to extend for one further week due to technical challenges posed by the steep terrain. Notwithstanding this, the company says that the programme is proceeding well with excellent core recoveries being achieved.

The timeframe for receipt of assay results may consequently be extended by one week.

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Anglo American Platinum [LON:AAL] has agreed to sell its wholly-owned subsidiary Rustenburg Platinum Mines to Sibanye Gold.

Amplats will receive an upfront payment in cash or Sibanye shares of R1.5bn and deferred consideration of at least R3.0bn.

Amplats chief executive Chris Griffith said: "We are pleased to announce a significant milestone in the repositioning of our portfolio with the disposal of the Rustenburg Operations to Sibanye. The Rustenburg operations are quality assets with long-term and sustainable potential under Sibanye's control, given their proven and successful track record of operating conventional mines in South Africa.

"Our focus from the outset has been to identify the right option for the business, its stakeholders and shareholders and we believe we have concluded a beneficial transaction for both parties, whilst also securing a sustainable future for the Rustenburg operations.

"We remain committed to pursuing our strategy, continuing to reposition Anglo American Platinum as a high quality, largely mechanised operator yielding high margins. We are focusing on our core assets and exiting those assets we have identified as non-core in a responsible manner, consistent with the objectives of the Mining Charter."

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Condor Gold [LON:CNR] posts operating losses of £1.46m for the six months to the end of June - down from £1.6m last time.

Revenues were nil - unchanged from a year ago - and pre-tax losses narrowed to £1.4m from £1.6m.

The company said test work in support of the PFS has continued to advance in the first half of 2015:

· 1,952m drilling completed, excellent drill intercept of 7.6m at 10.2g/t gold outside the main pit extends a high-grade ore shoot to the south and to depth.

· Soil survey programme provides several additional exploration targets.

· Engaged Whittle Consulting to run Enterprise Optimisation software on the technical studies used within the PFS and PEAs.

· Applied for and received a Terms of Reference for an EIA Permit.

· Implementation of several of the IFC's ESAP (Environmental and Social Action Plan) items.

· £2,410,675 at 30th June 2015 is sufficient to execute the current strategy

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Rambler Metals and Mining [LON:RMM] has filed the NI43-101 technical report to accompany the pre-feasibility results previously announced on 20 July.

The PFS was successful in defining a staged, low capital strategy for the optimisation of all existing infrastructure through the integration of the Lower Footwall Zone ('LFZ') mineral resource into the life of mine ('LOM') plan for the Ming Copper-Gold Mine.

The operation will begin running at full capacity in 2018 at 1,250 metric tonnes per day ('mtpd') with a projected mine life of 21 years.

The results show positive economics, a strong internal rate of return ('IRR') and significant cash flow under reasonable commodity price assumptions. In addition, there remain further opportunities for improvement as the operation becomes fully optimised.

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KEFI Minerals' [LON:KEFI] board has approved the development funding plan for the Tulu Kapi gold project in Ethiopia.

This includes equity capital for development to be raised at project level, rather than at the London-listed PLC level, to minimise value dilution for company shareholders.

KEFI says discussions with the shortlisted construction contractors, including further opportunities for value-engineering, has yielded potential reductions in the peak funding requirement from the US$130 million estimated in the 2015 definitive feasibility study to US$120 million as had previously been foreshadowed.

This is despite the planned gold production being increased to an average of c. 100,000 oz per annum, as announced on 7 September 2015. Debt-style funding facilities may be up to US$100 million via a senior secured syndicate arrangement. A portion of these facilities is likely to have a tenor greater than the eight years proposed by conventional project finance banks, which is considered prudent due to volatility in markets generally.

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Amur Minerals Corporation [LON:AMC] - a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia - has announced a second set of drill results from its 2015 Flangovy drill programme.

A confirmation drill hole indicates that the step out discovery hole reported in as per the announcement on 3 September 2015 has extended the Flangovy resource up to 400 metres adding substantially to the resource potential of the Maly Kurumkon/Flangovy deposit.

The infill drill efforts have resumed testing a block of Inferred resource having a length of approximately 250 metres and results from the two of four holes confirm the continuity of the mineralisation between the more widely spaced existing holes.

The remaining two holes are presently under analysis and are likely mineralised based on the abundance of visible sulphide mineral associated with the nickel and copper mineralisation. The increased drill density will likely allow for the conversion of Inferred resources to that of Indicated resources for this resource block.

Highlights: · A verification hole was drilled 80 metres from the exploratory step out hole located 400 metres to the east of the last ore intercepts at Flangovy. The existence of the peridotite ore bearing zone was confirmed and has been determined to be similar in structure and orientation to that of Flangovy providing additional evidence that Flangovy is substantially larger than originally defined. It is now interpreted to be at least 1,250 metres in length. This is an increase of 40% in the total mineralised length of this area.

· The full potential of the extension is not yet determined. The loss of the confirmation hole before fully penetrating the ore bearing peridotite sill has resulted in the Company not testing the full potential of the zone. Only 35 metres of the anticipated 60 metres were tested.

· Infill drilling has been resumed and is being implemented on an east to west basis. The first block to be tested contains approximately 8.0 million tonnes of Inferred resource and requires four holes to test the continuity of the structure and grade of the mineralisation.

· Four holes have been completed within the block, all of which have intersected the ore bearing sill and substantial thicknesses of sulphide mineralisation have been identified. The sulphide mineralisation contains the nickel and copper.

· Two of the four holes have been analysed using the Niton XL2 500 X-Ray Fluorescence units on site and the average total mineralisation intersected by the two holes is 31.4 metres with 0.8% nickel and 0.2% copper. The two nearby historical holes contained an average of 27.0 metres of total mineralisation at 0.86% nickel and 0.24% copper as per Alex Stewart Laboratory results.

· Continued verification of historical results provides substantial potential to convert the current Inferred resource to that of Indicated which allows for the inclusion in the reserve inventory.

· Drill rates to date indicate that approximately 5,500 to 5,700 metres will be completed by the end of this season barring a prolonged breakdown of the rig or an early winter setting in. This drill meterage should allow for conversion of the majority of the 30 million tonne Inferred resource to that of Indicated provided drill results continue to confirm existing historical results.

· RFA results are available for 1,573.4 total metres of the drilled core and results will be released in due course.

Chief executive Robin Young said: "Confirmation that the Flangovy deposit is likely to be at least 400 metres longer should add substantially to the resource inventory of Kun-Manie. With the infill programme underway and results confirming our original drill results, we also look forward to a reclassification of the resource at Flangovy. Here we anticipate a substantial upgrade in our Indicated resource class which means these can potentially be fully converted into reserves suitable for a Definitive Feasibility Study. This anticipated upgrade, we believe, removes risk and provides for a more flexible mine plan going forward."











At 4:11pm:

[LON:AAL] Anglo American PLC share price was +41.5p at 745.4p

[LON:AQP] Aquarius Platinum Ltd share price was +0.07p at 8.11p

[LON:BEM] Beowulf Mining PLC share price was 0p at 2.6p

[LON:BKY] Berkeley Resources Ltd share price was 0p at 19p

[LON:CEY] Centamin PLC share price was +0.3p at 60.2p

[LON:CHL] Churchill Mining PLC share price was 0p at 27p

[LON:CNR] Condor Gold PLC share price was +0.5p at 54p

[LON:CZA] Coal of Africa Ltd share price was +0.01p at 3.63p

[LON:FDI] Firestone Diamonds PLC share price was 0p at 24.5p

[LON:FRES] Fresnillo PLC share price was +1p at 620p

[LON:GEMD] Gem Diamonds Ltd share price was +4p at 131p

[LON:HOC] Hochschild Mining PLC share price was -1.12p at 73.88p

[LON:KMR] Kenmare Resources PLC share price was +0.02p at 2.53p

[LON:MIRL] Minera IRL Ltd share price was +0.38p at 3.5p

[LON:RMM] Rambler Metals and Mining PLC share price was +0.01p at 8.13p

[LON:SRES] Sunrise Resources PLC share price was +0.03p at 0.33p

[LON:VED] Vedanta Resources PLC share price was -1.25p at 508.75p



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