- Coal of Africa Limited [LON:CZA] was one of the sector's biggest fallers after posting a loss of USD14.3 million, or 0.76 cents per share, for the six months to the end of December compared to a loss of USD0.8 million, or 0.07 cents per share, a year ago.

The loss of USD14.3m includes:

- net foreign exchange loss of $9.4 million (2014: profit of $14.3 million) arising from the translation of inter-group loan balances, borrowings and cash due to changes in the ZAR:USD and AUD:USD exchange rates during the period;

- employee benefit expense of $2.0 million (2014 expense: $2.5 million) due to the issue of share options

- other expenses of $3.2 million (2014: $10.8 million) was lower due to exceptional expenses incurred in the prior period for the liquidation of EVOC and Greenstone which resulted in a $3.7 million write-off of loans due to CoAL and penalties incurred of $0.6 million for the EnviCoal legal case;

- depreciation of $0.2 million (2014: $0.3 million) and amortisation of $0.4 million (2014: $0.5 million).

As at 31 December 2015, the Company had cash and cash equivalents of $30.0 million compared to cash and cash equivalents of $17.8 million at 30 June 2015.

The group said highlights were:

- No fatalities during the period under review

- Universal CoAL transaction announced

- Regulatory progress on both Vele Colliery and Makhado Project

- Makhado Project funding process under way

* * *

Nyota Minerals [LON:NYO] posts a pre-tax loss of $592,585 for the six months to the end of December, down from $2.5m last time.

On 16 July the company issued 545,454,545 shares at an issue price of GBP0.00055 (0.055 pence) (approximately A$600,000) to raise up to GBP300,000 (before costs) through a placement to institutional investors.

* * *

Kibo Mining [LON:KIBO], the Tanzania focused mineral exploration and development company, has published an interactive process description and timeline for the Mbeya coal to power project, as previously announced. The interactive process description and timeline, details and clarifies all work streams critical to the Project, and should be used as a reference point for future updates provided by the Company.

Kibo says it is important to note the following:

1. Key milestones i.e. "Development Ready", "Financial Close Ready", "Construction Ready" and "Production Ready". These milestones represent the most critical progressive deliverables in the MCPP development process;

2. The due date for "Financial Close Ready" has been adjusted in the above referred timeline. It is now expected that the MCPP will be "Financial Close Ready" (ready to commence with the process of financial close) by the end of Q2 2016. This adjustment means that financial close will now commence slightly later than previously announced. The slight delay does not impact on the overall timeline, as reflected in the due date for the next critical milestone which remains the same as before. Both the Mining and Power Definitive Feasibility Studies ("MDFS" and "PDFS") are still on schedule, with the PDFS still expected at the end of Q1 and the MDFS shortly thereafter, subject to the timely receipt of the various Government permits / licences relevant to the MDFS. The adjustment in the timeline was caused by: a. The eleven-month delay in receiving funds from the February 2015 Hume placing. This prevented the Company from commissioning all the required feasibility work streams in parallel due to cash flow constraints, resulting in a slight lag on some of the work which has since been corrected subsequent to securing the latest funding arrangement with Sanderson; and

b. Alignment with the various governmental approvals and permitting processes which constitutes a significant amount of the current and upcoming activities of the feasibility studies. A number of feasibility study activities are dependent on government approvals and / or permitting and can only be completed upon receiving the relevant approval / licence / permit.

3. The Integrated Bankable Feasibility Study ("IBFS") for the MCPP, which is the key deliverable to reach "Financial Close Ready" status, is now, for the reasons mentioned under point 2 above, also expected during the latter part of Q2 2016.

4. The process description and timeline is an interactive presentation with clear navigation instructions which will allow the reader to obtain additional information and clarification in respect of each of the different elements of the high level MCPP development process. The current format in which the presentation is posted on the website will shortly be replaced by a more user friendly web-enabled application.

* * *

Tertiary Minerals [LON:TYM] said, further to several earlier statements, non-executive directors of the company will be receiving a portion of their annual fees in shares of 1p each, on a six monthly on-going basis calculated with reference to the closing mid-market price the trading day prior to the issue of the shares.

On 11 March 2016, the Company resolved to issue a total of 97,170 Ordinary Shares to Donald McAlister for the period ended 31 December 2016. The Ordinary Shares were issued at a price of 1.4 pence per share, being the closing mid-market price on 11 March 2016.

* * *

Landore Resources [LON:LND] has confirmed that drilling has intersected a significant new gold zone at its Junior Lake property in Ontario, Canada.

It said drilling in December intersected a wide zone of gold mineralisation close to surface including 31.29 metres at 1.12 grams per tonne (g/t) in drill-hole 0415-517. Higher grade intersections within the zone include 3.70 metres 4.21g/t gold in drill-hole 0415-518.

Landore completed a follow up drill programme in February consisting of 5 NQ diamond drill holes for a total of 564 metres (0416-519 to 523) as 50 metres step-outs to the above drill holes, all of which have intersected similar lithological units. Results are pending and will be reported when available. This new gold zone is located approximately midway along a 2.7 kilometre long, east-west trending, MaxMin geophysical anomaly (MM-7) at the western end of which is located the historical BAM gold zone discovered by Landore in 2003. MM-7 has not previously been drill tested.

* * *

Sunrise Resources [LON:SRES] has appointed Beaufort Securities as the company's joint broker with immediate effect.

* * *

Berkeley Energia [LON:BKY] is exploring a range of financing options and strategic partnerships with a view to fully funding the project's development while minimising shareholder equity dilution.

It says a number of the prospective financiers and strategic partners have commenced detailed due diligence reviews with site visits currently under way.

The company reports a pre-tax loss of USD5.8m for the six months to the end of December - up from USD3.99m last time.

Revenues from continuing operations fell to USD 155,779 from USD314,580 a year ago. The group had cash reserves at the period end of USD8,413,324, with no debt.

* * *

Jubilee Platinum [LON:JLP] said its Platinum Surface Processing Plant at Dilokong Chrome Mine is fully commissioned and operational. It added that 85% of Design throughput has been reached at the plant.

* * *

Anglo American [LON:AAL] will hold its annual general meeting on 21 April.

At 3:58pm:

[LON:AQP] Aquarius Platinum Ltd share price was -0.37p at 12.88p

[LON:BEM] Beowulf Mining PLC share price was 0p at 4.1p

[LON:BKY] Berkeley Energia Ltd share price was +1p at 24.25p

[LON:CEY] Centamin PLC share price was +1.93p at 92.08p

[LON:CHL] Churchill Mining PLC share price was +0.13p at 12.88p

[LON:CZA] Coal of Africa Ltd share price was -0.24p at 1.96p

[LON:FDI] Firestone Diamonds PLC share price was +0.13p at 20.25p

[LON:FRES] Fresnillo PLC share price was -6p at 923.5p

[LON:GEMD] Gem Diamonds Ltd share price was -0.25p at 100.75p

[LON:HOC] Hochschild Mining PLC share price was -1.62p at 87.38p

[LON:KIBO] Kibo Mining share price was -0.25p at 3.38p

[LON:KMR] Kenmare Resources PLC share price was 0p at 1.06p

[LON:LND] Landore Resources Ltd share price was 0p at 0.73p

[LON:NYO] Nyota Minerals Ltd share price was -0.01p at 0.08p

[LON:TYM] Tertiary Minerals PLC share price was -0.03p at 1.38p

[LON:VED] Vedanta Resources PLC share price was -6.7p at 328.6p

Story provided by