StockMarketWire.com - Amur Minerals' [LON:AMC] shares were up in late trading after it confirmed that a detailed exploration and mine production licence for its Kun-Manie nickel copper sulphide deposit, had now been issued by Russia's licensing agency, Rosnedra.

The new 36 square kilometre licence has been duly registered with the State Geological Fund, and payment of the RUB23.6m one-time fee (approximately US$429,000) has been arranged and the transfer will be completed in the coming days. The licence granted to the company's wholly-owned subsidiary, ZAO Kun-Manie, contains the terms already negotiated during discussions with Rosnedra in 2014. The six-page document lists the coordinates of the Licence boundary and sets out the minimum requirements that Amur must fulfil. The termination of the licence has been extended from the end of 2034 to 1 July 2035, to account for the delay associated with the licence approval.

* * *

Patagonia Gold [LON:PGD] has announced that, following his appointment as chief executive officer of the company and its subsidiaries, as announced in April, Christopher van Tienhoven has been appointed to its Board.

* * *

Kibo Mining [LON:KIBO] has confirmed that work at the Morogoro gold project in Tanzania - a joint venture with Metal Tiger - has begun.

Initial exploration work will investigate gold mineralisation anomalies previously identified. The work will include assay testing of existing samples for gold and multi-element mineralisation with results due early in the third quarter.

Follow up work will be formulated on the basis of on-going results but is likely to include additional soil sampling to enhance initial findings and to extend mineralisation identified, together with reconnaissance assessment and mapping to examine unexplored ground within the Morogoro project, including documented copper occurrences and potential artisanal workings.

The overall objectives of the Morogoro programme will be to assess prospectivity combining the additional findings from this work with data gathered from previous exploration data in order to assess project viability cost effectively and, assuming positive results, define a project pathway including resource drilling.

Chief executive Louis Coetzee said: "In addition to the significant progress made on the Mbeya coal to power project over the past 6 weeks and the Company's healthy cash position on account of the successful placing during April 2015, we are pleased to also announce the commencement of work at the Morogoro Gold Project. This project has been the subject of historic exploration by Kibo, and we are very pleased to see the recommencement of work under our Joint Venture with Metal Tiger.

"The Morogoro Project sits approximately 100km south of the Magambazi discovery made in 2007 by Canaco Resources and within an area with exciting new geological potential for significant gold and copper mineralization that holds the potential to host economically viable deposits.

"We look forward to delivering the results from our work at Morogoro to market."

* * *

Finland-focused Karelian Diamond Resources [LON:KDR] says five further pits along strike from its original discovery of kimberlite in the Kuhmo area have all intersected kimberlite.

The pitting shows that the kimberlite extends for at least 250 metres and is a dyke which remains open in both directions along strike with widths of up to 2 metres intersected.

Kimberlite samples were collected from each pit and the Company is continuing its evaluation of the extent and diamondiferous potential of the kimberlite.

Further infill till sampling for kimberlitic indicator minerals generated high concentrations of kimberlitic indicators and, together with an extensive detailed ground magnetic survey in the area, conducted by the Company, has identified new diamond exploration targets within the immediate area.

The results of the till sampling and the ground magnetic surveys indicate that there may be more than one kimberlite source present.

Chairman Professor Richard Conroy said: "The discovery of additional kimberlite showing an extensive strike length is exciting news and a further positive step in the Company's exploration programme. There are, indeed, numerous occurrences of diamondiferous kimberlite dykes around the world including a number of very profitable mines, both historic and currently operating."

* * *

Horizonte Minerals [LON:HZM] has awarded 13,250,000 shares options to directors and senior management under the company's 2006 option and enterprise management incentive schemes.

These included 2,750,000 to executive director Jeremy Martin and 1 million each to non-executive directors Owen Bavinton, William Fisher, David Hall and Allan Walker.

The options have an exercise price of 4.00p and are exercisable in three equal tranches from 10 December this year, 10 June 2016 and 10 December 2016.

* * *

Sirius Minerals [LON:SXX] has provided a procedural update on the approvals process for the York Potash Project. It is given in full below:

"In advance of the proposed special planning committee considering the Company's mine and mineral transport system planning application on 30 June 2015, the North York Moors National Park Authority ("the Authority") has published additional background reports on its website.

2The reports form part of a number of review documents commissioned by the Authority to inform its assessment of the planning application. The findings of all the review documents will be taken into account in the planning officer's planning committee report, referred to in the 14 May 2015 announcement, which will be publicly available via the Authority's website at least five working days prior to the planning committee meeting.

"As detailed when the application was submitted and announced on 30 September 2014, this is a normal part of the planning process so the Company is not offering further commentary on individual reports. Planning officers had already taken account of these and other reports when they advised of their likely open recommendation on the planning application (as detailed in the 14 May 2015 announcement).

"The Company has also been in discussions with the Authority for a number of months about its proposed Section 106 Agreement ("Section 106") and it has now tabled an enhanced proposal. The revised Section 106 proposal, which will also be available on the Authority's website, is designed to address officers' concerns relating to the residual harm that can be addressed through Section 106 contributions."







At 4:14pm:

[LON:AMC] Amur Minerals Corporation share price was +2p at 31.25p

[LON:AQP] Aquarius Platinum Ltd share price was +0.17p at 8.28p

[LON:BEM] Beowulf Mining PLC share price was +0.06p at 2.08p

[LON:BKY] Berkeley Resources Ltd share price was 0p at 12p

[LON:CEY] Centamin PLC share price was -1.3p at 68.35p

[LON:CHL] Churchill Mining PLC share price was -0.5p at 49p

[LON:CZA] Coal of Africa Ltd share price was -0.03p at 6.1p

[LON:FDI] Firestone Diamonds PLC share price was +0.75p at 31p

[LON:FRES] Fresnillo PLC share price was +20.5p at 735.5p

[LON:GEMD] Gem Diamonds Ltd share price was +2.63p at 155.13p

[LON:HOC] Hochschild Mining PLC share price was +1.88p at 101.13p

[LON:HZM] Horizonte Minerals PLC share price was +0.01p at 2.63p

[LON:KDR] Karelian Diamond Resources PLC share price was +0.01p at 1.13p

[LON:KIBO] Kibo Mining share price was +0.01p at 4.88p

[LON:KMR] Kenmare Resources PLC share price was -0.03p at 4.02p

[LON:PGD] Patagonia Gold PLC share price was +0.01p at 2.63p

[LON:VED] Vedanta Resources PLC share price was +22.5p at 595.5p



Story provided by StockMarketWire.com