StockMarketWire.com - Patagonia Gold's [LON:PGD] shares were up in late trading after it reported record production last month at its Lomada mine, with a total of 2,961 ounces of gold recovered from the main and trial heap leach pads combined at an all-inclusive cash cost of $625 per ounce.

The second large excavator at the mine has been delivered and is operational with Lomada on-track to achieve its target of producing 3,000 ounces of gold per month by the end of this month.

The company's exploration for 2014 is focused on the El Tranquilo block with the identification and development of 22 new and existing targets.

Exciting new mineralisation has been discovered at El Calafate and La Canada, near to the flagship deposit, Cap-Oeste. Additional drilling is planned for late this year.

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Condor Gold [LON:CNR] is raising up to £6.41m through a conditional placing and a proposed subscription by the International Finance Corporation, the private sector arm of the World Bank Group.

The proceeds will be to fund the company into the first quarter of 2015 as it completes a pre-feasibility study on its flagship La India project and moves directly to a bankable feasibility study.

Condor his raising £2.9m through a proposed placing of 3,222,222 units at a price of 90p apiece.

Each unit is comprised of one ordinary share and one half of one share purchase warrant. Each warrant, which are unlisted, will entitle the holder to purchase one share at a price of 144p - a 60% premium to the placing price - for a period of 48 months from the date on which the placing shares are admitted to trading on AIM.

In addition, the company has reached an agreement in principle with International Finance Corporation for a proposed subscription of 3.9 million units at the placing price to raise gross proceeds of approximately £3.51m.

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Stellar Diamonds [LON:STEL], the diamond development company focused on West Africa, has announced that commissioning testing of its 100tph DMS plant at the Baoulé kimberlite project in Guinea has begun ahead of trial mining which is targeted for next month.

The objective to process at least 100,000 tonnes for diamond grade and value estimation

First cash flow is expected from the diamond sales in the final quarter of the year.

The chief executive of Stellar Diamonds, Karl Smithson, commented: "I am delighted that our team at Baoulé is continuing to deliver on schedule resulting in our processing plant now being fully constructed ahead of imminent trial mining.

"Commissioning is underway to establish the optimal operating parameters for the 100tph plant, after which the first kimberlite ore will be processed. Our objective is to process a very large sample which will not only establish the diamond grades and values with high levels of confidence, but also determine the presence of any large stones for which the Aredor region of Guinea is world renowned."

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KEFI Minerals [LON:KEFI] posts a pre-tax loss of £1.9m for the six months to the end of June - up from £811,000 last time.

Revenues were nil - unchanged from a year ago - while administration expenses increased to £729,000 from £294,000.

Managing director Jeff Rayner said: "We are on the cusp of becoming a junior gold developer. Having taken 100% control of the Tulu Kapi project, we are progressing fast towards reactivating the mining licence application and finalising the documentation required for project finance.

"With this, coupled with the open support of the government of Ethiopia, we are on track to commence development next year and production in 2016. For the Jibal Qutman project, the preliminary feasibilitystudy is complete, we have expanded the mineral resource estimate and we expect to trigger the MLA in due course. As a result, the Board looks forward to achieving a number of key milestones by the end of the year and to delivering shareholder value."

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Trans-Siberian Gold [LON:TSG] has received official notification of the cancellation of its Rodnikova licence.

It has previously reported that the licence was due to expire at the start of this month and that it had maintained the full impairment provision recognised in 2012 in respect of the exploration and evaluation costs incurred at Rodnikova.

The company applied to the federal authorities for an extension of the licence term in order to evaluate the cost effectiveness of various technical solutions but has been unsuccessful.

The termination of the Rodnikova licence will have no material impact on TSG's 2014 financial statements.

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The sector's biggest riser was Oxford Advanced Surfaces Group [LON:OXA] - up by more than 15.3% in late trading - while the biggest faller was New World Resources [LON:NWR] - down by more than 17%.







At 4:21pm:

[LON:AMI] African Minerals Ltd share price was -2.12p at 23.13p

[LON:AQP] Aquarius Platinum Ltd share price was -0.12p at 22.38p

[LON:BEM] Beowulf Mining PLC share price was -0.05p at 2.85p

[LON:BKY] Berkeley Resources Ltd share price was 0p at 18.25p

[LON:CEY] Centamin PLC share price was -3.05p at 60.85p

[LON:CHL] Churchill Mining PLC share price was -0.5p at 32.5p

[LON:CNR] Condor Resources PLC share price was +0.5p at 93.5p

[LON:CZA] Coal of Africa Ltd share price was -0.12p at 3.38p

[LON:FDI] Firestone Diamonds PLC share price was +0.01p at 36.63p

[LON:FRES] Fresnillo PLC share price was -24.25p at 817.75p

[LON:GEMD] Gem Diamonds Ltd share price was -2.25p at 207.75p

[LON:HOC] Hochschild Mining PLC share price was -3.55p at 158.55p

[LON:KEFI] KEFI Minerals PLC share price was -0.02p at 1.43p

[LON:KMR] Kenmare Resources PLC share price was +0.13p at 11.63p

[LON:PGD] Patagonia Gold PLC share price was +0.51p at 7.38p

[LON:STEL] Stellar Diamonds PLC share price was +0.01p at 1.38p

[LON:TSG] TransSiberian Gold PLC share price was -0.5p at 11.38p

[LON:VED] Vedanta Resources PLC share price was -15p at 1066p



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