StockMarketWire.com - Landore Resources' [LON:LND] shares jumped after it revealed that new potential nickel sulphide mineralisation zones had been identified on the Junior Lake nickel-copper property in Ontario, Canada.

It says DC resistivity results from the recently completed 3D DCIP + MT ground geophysical survey have identified the presence of nine significant new zones, ranging from approximately 400m to 1,200m in length, of potential nickel sulphide mineralisation along strike and adjacent to the existing B4-7 Nickel-Copper-Cobalt-PGEs resource and the VW Nickel resource. (see attached plans).

These results correlate well with the December 2013 ground Electromagnetic (MaxMin), VLF and Magnetic geophysical surveys and provide numerous excellent drill targets both near surface and at depth. A 4,000 metre drill programme is scheduled to commence on 7 July to test these targets.

The processing of the IP data from the survey is nearing completion and will be reported as soon as results become available. In addition, the MT portion of the survey currently being processed will be released with the final report.

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Petra Diamonds [LON:PDL] said it continues to deliver further production and revenue growth, and these results demonstrate it is firmly on track to meet its full-year target of circa 3 million carats.

"The diamond market has had an encouragingly strong start to 2014, further underpinning Petra's positive outlook for the remainder of the 2014 financial year," said CEO Johan Dippenaar.

Highlights for the Jan 1 to Mar 31 included:

- Production for Q3 FY 2014 up 15% to 743,424 carats (Q3 FY 2013: 647,248 carats).

- Production for nine months to 31 March 2014 up 26% to 2,379,140 carats (nine months to 31 March 2013: 1,894,767 carats).

- Petra firmly on track to meet FY 2014 production target of ca 3.0 million carats.

- Revenue for Q3 FY 2014 up 55% to US$163.9 million (Q3 FY 2013: US$105.7 million), including the 29.6 carat blue diamond which sold for US$25.6 million.

- Revenue is weighted towards the second half of the financial year ("H2") due to the usual seasonal timing of Petra's diamond sales; two more tenders are to take place between the date of this IMS and financial year-end.

- A strong start to the calendar year for the rough diamond market, with prices achieved by Petra up around 10%; Petra expects the market to consolidate around current price levels for the remainder of FY 2014.

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Bisichi Mining's [LON:BISI] turnover fell to £35.1m in the year to the end of December - down from £35.96m in 2012.

Earnings before interest, tax, depreciation and amortisation fell to £3.0m - down from £4.7m last time.

The company said the year started well with a strong performance in the first six months at Black Wattle, its South African coal mining subsidiary.

But in the final quarter open cast mining operations at Black Wattle were severely affected when one of the main production pits ran into unrecorded old underground workings.

Chairman Sir Michael Heller said: "The prompt action taken by your management ensured that the mine recovered quickly from this incident, but the production lost from this area had to be made up by increased production from one of our higher cost pits. Inevitably, this has had an adverse impact on profitability."

He added: "We expect Black Wattle to return to acceptable levels of profitability once we return to full production from our lower cost pits in the second half of 2014 and, although we expect depressed coal prices to continue for the whole of the year, we view the outturn for the year with cautious optimism."

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Highland Gold Mining's [LON:HGM] overall revenues fell to $304.2m in 2013 - 13.5% down on the previous year.

The group said this reflected the fall in precious and other metal spot market prices during the period, despite higher sales volumes of gold and gold equivalents.

The group sold 237,271 ounces of gold and gold equivalents in 2013 compared with 215,917 ounces in 2012.

MNV's share of sales at 147,893 oz showed a 0.6% increase versus 2012, while Novo's share at 82,102 eq. oz registered a significant 27.3% advance.

Belaya Gora, undergoing a period of start-up works, produced 7,077 ounces and sold 7,060 ounces in 2013. The related revenues were netted off with costs of sales and capitalised into the cost of the plant. The Group did not carry out any hedging activity in 2013.

The average price of gold realised by MNV and Belaya Gora (net of commission) decreased by 15.4% to US$1,405 per ounce in 2013 compared with US$1,660 per ounce in 2012.

The average price of gold equivalents realised by Novo in 2013 was US$1,076 per eq. oz, 23.7% below the level achieved in 2012. The average price at Novo is based on the spot price for metals contained in the concentrates (gold, lead, zinc and silver) net of the fixed processing and refining costs at the Kazzinc plant.

The group's average realised price of gold and gold equivalents amounted to US$1,291 per oz in 2013 compared with US$1,586 per oz in 2012, a decline of 18.6%.

Earnings before interest, tax, depreciation and amortisation fell to $132.7m - down from $179.0m last time.

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Rambler Metals and Mining [LON:RMM] has delivered about 8,925 wet metric tonnes ('wmt'), the largest shipment to date, of copper and gold concentrate from Goodyear's Cove, NL Canada.

The Company's internal sampling estimates an average grade for the shipment of 28.5 per cent copper, 7 grammes per tonne gold and 55 grammes per tonne silver. This is the sixth shipment completed to date bringing the total delivered to approximately 41,500 wmt.

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Thor Mining [LON:THR] said ore sorting, improved metallurgical processing and cost reductions options are on track to deliver a significant upgrade to the Definitive Feasibility Study (DFS) for its Molyhil tungsten project in Australia's Northern Territory.

The new work shows cost reductions to date of about A$12 a tonne, a 13% easing from the A$90/tonne in the 2012 DFS, Thor said.

The 2012 Molyhil DFS highlighted that a 7% improvement in revenue factors (or the equivalent) was required to increase the Molyhil ore reserve by 50%, and extend the life of the proposed operation from 4 years to 6 years. Subsequently, the Thor team has sought to deliver that 7% improvement as a minimum enhancement to the DFS.

"Now, recent work by Thor on processing improvements and cost factors has demonstrated the potential to at least achieve this objective," Thor said.

The improvements comprised:

- Ore Sorting: Testwork has achieved a reduction of 25% of the ore mass to be processed. This is expected to improve the grade of Molyhil ore, allowing the inclusion of some lower grade material previously deemed uneconomic, thus delivering an additional 8% by value of contained tungsten & molybdenum over the initial 4 year mine life, without increasing the amount of ore processed.

- Cost reductions: A number of cost reduction initiatives, including savings from: Owner mining rather than contract - potential savings up to $4/tonne; Infrastructure purchase rather than lease - saving >$7/tonne.

"While these activities have implications for project capital costs, other identified savings have allowed Thor to keep the expected capital cost at Molyhil unchanged at A$70m," Thor said.

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Galantas Gold Corporation [LON:GAL] posted net losses of C$1,944,355 for the year to the end of December - up from C$593,866 in 2012.

Revenues fell to C$1.5m from C$4.66m in 2012 due to the lower level of metal produced and shipped during the year. The lower production levels were primarily due to the requirement to process lower grade ore from stockpile as a result of difficulties in accessing ore from the open pits. In addition the gold price in 2013 was lower than in 2012 which also had an adverse impact on sales revenues.

Lower concentrate gold grade during the third and fourth quarters coupled with falling gold prices resulted in the company suspending the processing of low grade ore during the fourth quarter.

The company has started pilot tests with regards to the processing of tailing cells filled during the earlier operation of the mine.

Concentrate grades produced by the pilot study were higher than grades for flotation concentrate from mined vein material.

Galantas Gold is presently reviewing the economics of continuing production through the processing of tailings cells.





At 3:38pm:

[LON:AMI] African Minerals Ltd share price was -4p at 130p

[LON:AQP] Aquarius Platinum Ltd share price was -1.12p at 22.38p

[LON:BEM] Beowulf Mining PLC share price was -0.12p at 4.68p

[LON:BISI] Bisichi Mining PLC share price was +1.5p at 110p

[LON:BKY] Berkeley Resources Ltd share price was -0.25p at 15.25p

[LON:CEY] Centamin PLC share price was +1.93p at 54.83p

[LON:CHL] Churchill Mining PLC share price was -0.75p at 21p

[LON:CZA] Coal of Africa Ltd share price was +0.19p at 3.86p

[LON:FDI] Firestone Diamonds PLC share price was +0.01p at 3.63p

[LON:FRES] Fresnillo PLC share price was -2.75p at 845.25p

[LON:GEMD] Gem Diamonds Ltd share price was +1.25p at 164.75p

[LON:HGM] Highland Gold Mining Ltd share price was -0.12p at 68.13p

[LON:HOC] Hochschild Mining PLC share price was -0.12p at 163.63p

[LON:KMR] Kenmare Resources PLC share price was -0.37p at 12.38p

[LON:LND] Landore Resources Ltd share price was +0.43p at 3.18p

[LON:PDL] Petra Diamonds Ltd share price was +5.4p at 156.1p

[LON:RMM] Rambler Metals and Mining PLC share price was 0p at 27.75p

[LON:VED] Vedanta Resources PLC share price was -2.75p at 934.75p



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