StockMarketWire.com - Griffin Mining's [LON:GFM] shares edged up in late trading after it confirmed that mining operations at Caijiaying recommenced on 27 June following an investigation by both Griffin and various Chinese authorities into the circumstances causing the death underground of an employee of the mining contractor on 16 June.

* * *

Trans-Siberian Gold [LON:TSG] has confirmed that all the resolutions proposed at its annual general meeting today were approved.

* * *

KEFI Minerals [LON:KEFI] confirmed that KEFI Minerals (Ethiopia) managing director Wayne Nicoletto and KEFI non-executive director Norman Ling would be making a presentation at the Mining Capital Conference event today.

A copy of the presentation will be available for download from KEFI's website: www.kefi-minerals.com.

No new material financial or trading information will be disclosed during the presentation.

* * *

Ariana Resources [LON:AAU] is exceptionally well-placed to continue to add value across its project portfolio and to deliver on its objective of becoming one of the next generation of gold producers in Turkey,shareholders at the annual general meeting today were told.

Chairman Michael de Villiers said the company has been listed on AIM for 10 years and in that time it has gone from grassroots gold exploration, through to project development and all the way to the point of mine construction.

He said: "This is an incredibly rare occurrence for any mineral resources company. Indeed, the odds of any individual mineral exploration target becoming a world-class mine are reported to be perhaps one in tens of thousands. It is testament to the team at Ariana that they have been able to beat these odds and it has been my privilege to have played a role.

"Following the receipt of the long-awaited forestry approvals from the Turkish Government, we may now commence the construction phase of our Red Rabbit joint venture mine at Kiziltepe. Our partners, Proccea Construction, are readying their teams to initiate site works within the coming weeks. Meanwhile, land acquisitions are continuing at a pace in order to secure all remaining surface rights required for the infrastructure footprint of the mine site. Detailed engineering work and budgeting are also complete, ahead of loan draw-downs expected through our finance arrangement with Turkiye Finans Katilim Bankasi A.S.

"We look forward to providing the market with further updates on our mine construction schedule in due course, though it is clear that early H2 2016 is probable for first gold pour. We expect to be able to provide further guidance once we know the likely delivery times on certain long-lead equipment orders. Steady-state production of approximately 20,000 oz gold equivalent per annum is currently expected some time during H2 2016.

"As construction proceeds at the Kiziltepe Mine, we are also planning to advance our strategy of exploration and resource development across the wider Red Rabbit Project Area. In addition to identifying satellite resources at some of the other gold-silver prospects that sit within the Kiziltepe Sector, it is our intention to focus on strategies that could ultimately lead to an enhanced production rate. The Red Rabbit project already shows potential to be scaled up to a production rate of 50,000 oz gold equivalent per annum in the event that the Tavsan Sector can be developed and brought on stream in a few years time."

He said the company was exceptionally well-placed to continue to add value across its project portfolio and to deliver on its objective of becoming one of the next generation of gold producers in Turkey.

He added: "In the last decade, the country has proven itself as a reliable low-cost destination and, importantly for any exploration company, one that still hosts plenty of long-term exploration and development upside. Ariana is poised to further capitalise on this potential."

Ariana confirmed tat all of the resolutions put to shareholders at the AGM were passed.

* * *

Amur Minerals [LON:AMC] has posted a FY pre-tax loss of $1.4m, down from $3.8m last time. The group has also issued a forward-looking operational blueprint for the development of the Kun-Manie nickel copper sulphide project located in the Russian Far East.

The optimised design has been derived from the combination of an extensive company generated update to the 2007 SRK Consulting Ltd pre feasibility study and the consideration of the terms and conditions as contained within the newly acquired 'detailed exploration and production licence'.

The company says that financially it is well positioned. Key highlights include: · The company remained debt free throughout 2014 with cash reserves of US$1.389 million as at 31 December 2014.

· During the year the Company received the remaining settlements from the Lanstead Capital LLP (Lanstead) financing agreement entered into during February 2012, totalling US$1.390 million. This brought this financing agreement to completion with total receipts from all settlements of US$4.0 million.

· In addition, the Company's financing agreement entered into with Lanstead in July 2013 received 3 settlements with proceeds of US$0.45 million during the year. The remaining settlements are expected to provide proceeds of an additional US$7.381 million (valued at the 31 December 2014 share price of 10.5p).

· Subsequent to the year end, the Company's cash position has continued to improve given that the Company's share price and volume have more than doubled from 1 January 2015 to June 2015. Lanstead have therefore made further settlements resulting in substantial inflows, leaving an unaudited cash position for the Group of US$ 6.0 million as at 17 June 2015. Highlights of the operational blueprint include the following:

· Existing resources can sustain a 15 year production period where 6.0 million tonnes per annum are produced. Infill drilling will be required.

· Mine production will be derived from four open pits and two underground operations.

· A simple flotation concentrate will be generated which can be smelted by the Company owned smelter as verified by Outotec.

· The project has an estimated operating cost per ore tonne of $US 34.86 per ore tonne.

· The total initial capital expenditure is projected to be $US 1.38 billion to be expended in a two year construction period. Sustaining capital is estimated to be $US 474 million over 15 years.

· The Net Present Value ("NPV") using a 10% discount rate is projected to be $US 0.71 billion and $US1.44 billion using the long term nickel prices of $US 7.50 per pound and $US 9.50. per pound These economic projects cover an owner operated smelter and refinery.

Chief executive Robin Young said: "This Operation Blueprint contained within our PEA, represents ten years of successful exploration at Kun Manie, along with a total redesign of the project. As we worked on the study, we challenged all past and previous assumptions. As a result, mining will best be performed using a combination of underground and open pit productions, power will be generated on site, a substantial access road upgrade can be supported and the construction of own smelter and refinery.

"These choices make a tremendous difference to the bottom line, which we measure in global project NPV. Moving forward through infill drilling, metallurgy and more detailed engineering studies, we will continue to search for ways to optimise the project so that it delivers the highest possible value to the shareholders. We are comfortable with the final values we have generated as a Company, however, we are compiling a Request for Proposal from three independent companies."





At 3:52pm:

[LON:AAU] Ariana Resources PLC share price was -0.07p at 1.15p

[LON:AMC] Amur Minerals Corporation share price was -2.25p at 26.75p

[LON:AQP] Aquarius Platinum Ltd share price was -0.06p at 6.95p

[LON:BEM] Beowulf Mining PLC share price was -0.02p at 1.63p

[LON:BKY] Berkeley Resources Ltd share price was 0p at 15.5p

[LON:CEY] Centamin PLC share price was +0.45p at 63p

[LON:CHL] Churchill Mining PLC share price was -1.25p at 41p

[LON:CZA] Coal of Africa Ltd share price was -0.38p at 4.65p

[LON:FDI] Firestone Diamonds PLC share price was -0.75p at 31.75p

[LON:FRES] Fresnillo PLC share price was +2.25p at 700.25p

[LON:GEMD] Gem Diamonds Ltd share price was +0.88p at 143.88p

[LON:GFM] Griffin Mining share price was +0.38p at 37.75p

[LON:HOC] Hochschild Mining PLC share price was +0.63p at 98.88p

[LON:KEFI] KEFI Minerals PLC share price was -0.05p at 0.83p

[LON:KMR] Kenmare Resources PLC share price was -0.15p at 3.45p

[LON:TSG] TransSiberian Gold PLC share price was -0.12p at 12.13p

[LON:VED] Vedanta Resources PLC share price was -10.5p at 555.5p



Story provided by StockMarketWire.com