StockMarketWire.com - Central Rand Gold [LON:CRND] was the sector's biggest riser in late trading after first half pre-tax loss fell to $1.2m - down from $2.8m a year ago.

Revenues for the six months to the end of June fell to $4.3m from $5.8m but production costs of $2.8m were down from $4.8m last time.

The company said it had two key objectives during the period: to continue with discussions with the various investors for the acquisition of Central Rand Gold (Netherlands Antilles) NV and to stabilise the operations of the company. Key features during the first six months of the year were:

· Negotiations continued with Asian suitors regarding a potential transaction with Central Rand Gold and a conclusion is expected shortly;

· Loss before interest, tax and depreciation reduced in the period to US$0.7 million (2014: US$2.6 million);

· Significant reduction in cost structure for the Central Rand Group, with overall costs reducing by 40%;

· The rate of dewatering suggests that underground operations could resume in approximately 18 months

· Sufficient surface material identified and evaluated to compensate for cessation of underground mining.

* * *

Pan African Resources [LON:PAF] says the 2015 abridged mineral resource and mineral reserve report has now been published and is available on the company's website at www.panafricanresources.com.

Overview

- 0.3 million ounces or 3.0% gross annual increase in Group��"s gold reserve to 10.4Moz (2014: 10.1Moz)

- Increase in the Group's gold reserve due to the extension of the Main Reef Complex orebody on Fairview Mine (0.3Moz), at Barberton Mines

- 1.6Moz or 4.8% decrease in group's gold resource to 31.9Moz (2014: 33.5Moz) 20,000oz or 3.9% decrease in group's platinum group elements reserve to 0.50Moz (2014: 0.52Moz) - No material change in Group's PGE resource, 0.6Moz (2014: 0.6Moz)

- Exploration drilling and organic growth in accessing and development of orebodies at the Group's key assets progressed and has incremental resource ounces added

- Ongoing conversion of resources to reserves expected to continue to increase life of mine production profiles

- Preliminary economic assessments for Evander South brownfields project and Elikhulu

Condor Gold [LON:CNR] is delighted with results of a detailed report on the structural geology of La India gold district.

Condor said consultant structural geologist Dr Tony Starling of Telluris Consulting Ltd has completed a study which represents a significant step forward in understanding both the structures that host, and the structures that offset, the gold mineralisation in the La India district.

At resource scale the work will enhance and improve confidence in future resource models. At regional scale the study improves understanding of the structural framework that controlled the flow and deposition of epithermal gold.

The findings will be integrated with the recently collected soil geochemical data to define and prioritise targets for further exploration for hidden deep-seated gold deposits.

Chief executive Mark Child said: "We are delighted with the results of a very detailed report on the structural geology of La India Gold District following a 12 day site visit by consultant structural geologist Dr Tony Starling.

"La India Project is a low sulphidation epithermal gold system, which is structurally controlled and complex e.g. the multiple phases of faulting in the historic past channelled the upflow and precipitation of the gold bearing fluids. The study represents a significant step forward in understanding the structure that hosts the gold mineralisation at La India Project.

"The report details 33 exploration targets derived from the structural setting, 23 of which have known gold veining at surface. The targets require follow up work on the ground and prioritisation before an exploration programme can be planned. Summary presentations of the structural geology study and a study detailing results of the recent 55 sq km soil survey are available under the technical reports section of www.condorgold.com "

* * *

Regency Mines [LON:RGM] has announced that John Watkins has resigned from the board with immediate effect. Chairman Andrew Bell said: "We thank John for his long service, from the earliest days of the company, and the many occasions over the years on which he has made available to us help and support beyond the call of duty. We all wish him very well for the future."

* * *

The sector's biggest fallers were Ncondezi Energy [LON:NCCL] - down by more than 11% in late trading - and North River Resources [LON:NRRP] and Coal of Africa [LON:CZA] - both down by more than 9.6%.



At 4:09pm:

[LON:AQP] Aquarius Platinum Ltd share price was -0.03p at 8.31p

[LON:BEM] Beowulf Mining PLC share price was +0.06p at 2.73p

[LON:BKY] Berkeley Resources Ltd share price was +2p at 21p

[LON:CEY] Centamin PLC share price was +2.4p at 59.4p

[LON:CHL] Churchill Mining PLC share price was -0.5p at 26.5p

[LON:CNR] Condor Gold PLC share price was +1p at 53p

[LON:CRND] Central Rand Gold Ltd share price was +1.13p at 9.38p

[LON:CZA] Coal of Africa Ltd share price was -0.37p at 3.48p

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

[LON:FRES] Fresnillo PLC share price was -4.75p at 586.75p

[LON:GEMD] Gem Diamonds Ltd share price was +0.13p at 130.63p

[LON:HOC] Hochschild Mining PLC share price was +1.13p at 70.38p

[LON:KMR] Kenmare Resources PLC share price was -0.1p at 2.34p

[LON:NCCL] Ncondezi Energy Limited share price was -0.25p at 2p

[LON:NRRP] North River Resources PLC share price was -0.02p at 0.19p

[LON:RGM] Regency Mines PLC share price was +0.01p at 0.04p

[LON:VED] Vedanta Resources PLC share price was +17p at 536.5p



Story provided by StockMarketWire.com