StockMarketWire.com - Galantas Gold Corporation [LON:GAL] is raising up to C$2,535,246 through a proposed private placement of a maximum of 35,000,000 shares at C$0.0725 each.

The net proceeds are intended to be used for working capital purposes and to commence development of an underground mine on the Omagh property.

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The second stage of the environmental and social impact assessment for Edenville Energy's [LON:EDL] integrated coal to power project in western Tanzania, the scoping study, has now been completed with the relevant documents being approved by the Tanzanian National Environment Council.

The final stage is completion of the main ESIA report which will include extensive data and consultation with the local community and stakeholders.

This comprehensive report will then be submitted to the NEMC for review and approval.

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Metals Exploration [LON:MTL] has appointed Canaccord Genuity as the company's nominated adviser and broker.

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Ariana Resources [LON:AAU] has confirmed that 37 target areas have been defined within the Salinbas project following a thorough analysis of all previous data, with several areas prioritised for additional work.

Highly significant drill intercepts that warrant follow-up include 125m @ 2.44 g/t Au + 0.3% Cu and 34.5m @ 1.75 g/t Au + 6.13 g/t Ag and 164m @ 0.16 g/t Au + 0.3% Cu + 120 ppm Mo in the Ardala area.

Managing director Dr. Kerim Sener said: "The Salinbas Project, although already containing a JORC resource of c.1Moz gold equivalent, remains only partially explored.

"There are several drilling results, rock-chip, soil and geophysical and geological targets that have not yet been tested to any significant degree.

"These targets are mainly defined within and around the Salinbas and Ardala resource areas but several additional targets lie elsewhere within the 16km long Hot Gold Corridor.

"Beyond the main Salinbas deposit, several well defined target areas at Ardala South East and South West, Hizarliyayla and Incesu South, among others, will become the focus of generative soil and rock-chip sampling work during 2017.

"In particular, we are excited by the possibility that the mineralised part of the Ardala Porphyry extends for a further 1km to the south and represents a style of mineralisation that is enriched in molybdenum.

"We are also particularly encouraged by several significant rock-chip and soil anomalies encountered in the Hizarliyayla area, which lies about 8km to the north of Hot Maden and along the same geological trend."

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Anglo Pacific [LON:APF] enjoyed a strong second half of 2016 and royalty income for the year to the end of December rose by around 140% to £20.5-£21.5m.

This was mainly driven by the significant increase in saleable tonnes at Kestrel being derived from the group's private royalty lands.

Royalty income for Q4 was in the range of £11.6m- £12.6mm (Q3 2016: £4.8m, Q4 2015: £3.0m).

The group said 88% and 67% of Kestrel's saleable tonnes in H2 2016 and FY 2016 respectively derived from the group's private royalty lands.

Chief executive Julian Treger said: "Anglo Pacific enjoyed a strong second half of 2016, principally due to the significant increase in saleable tonnes from Kestrel being derived from the group's private royalty lands and another strong and consistent production quarter from Narrabri.

"The group expects to report income of £11.6m - £12.6m in the fourth quarter alone, which is approximately 147% and 299% higher than both the immediately preceding quarter and the same quarter in the previous year respectively.

"Combined with the £8.9m earned to the end of Q3 2016, this should result in overall royalty income for 2016 of £20.5 - £21.5m.

"Such an outcome would represent the highest level of annual income reported by the Group since 2011.

"Equally encouraging is our outlook for 2017, where we expect further growth in our income as 85-90% of Kestrel's saleable tonnes are expected to be derived from our private royalty area, a significant uplift from the 67% in 2016.

"Our royalty income is also expected to be strong in Q1 2017 following the settlement of coking coal contract prices at $285/t.

"The combination of increased saleable tonnes and higher prices, along with the potential for the pound to remain weak in the near term, should translate into further growth in royalty income for this year."

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Hochschild Mining's [LON:HOC] output rose to a record 17.3 million ounces of silver in 2016.

The group produced 246.1 thousand ounces of gold; 35.5 million silver equivalent ounces, up 31% versus 2015 (27.0 million ounces) and 479.6 thousand gold equivalent ounces (2015: 365.4 thousand ounces).

It said Inmaculada's first full year of production exceeded original forecast with 163 thousand ounces of gold; 4.9 million ounces of silver; 229 thousand gold equivalent ounces and 16.9 million silver equivalent ounces.

Chief executive Ignacio Bustamante said: "We are pleased that we have achieved a historic production record for the Company whilst exceeding our annual production targets and maintaining our guidance on full year costs.

"This result includes a successful first full year contribution from our flagship low cost Inmaculada mine as well as Arcata's strongest performance for six years.

"In addition, we maintained our focus on debt reduction and used excess cash flow to materially reduce our leverage ratio, beyond the guidance provided for the year.

"In 2017, we will continue our focus on cost effective organic growth with the start of production from the new Pablo vein as well as an increase in brownfield drilling as part of our recently announced exploration programme.

"We are also targeting a fifth consecutive year of production increases and, despite the rise in brownfield investment, cost control at all our mines will remain a priority."








At 4:21pm:

[LON:AAU] Ariana Resources PLC share price was +0.03p at 1.78p

[LON:APF] Anglo Pacific Group PLC share price was +3.38p at 130.88p

[LON:BEM] Beowulf Mining PLC share price was +0.25p at 8.13p

[LON:BKY] Berkeley Energia Ltd share price was -4.75p at 62.75p

[LON:CEY] Centamin PLC share price was +1.55p at 151.35p

[LON:CZA] Coal of Africa Ltd share price was +0.08p at 3.18p

[LON:EDL] Edenville Energy PLC share price was -0.01p at 0.82p

[LON:FDI] Firestone Diamonds PLC share price was 0p at 50.25p

[LON:FRES] Fresnillo PLC share price was +15.5p at 1440.5p

[LON:GAL] Galantas Gold Corporation share price was -0.5p at 5.13p

[LON:GEMD] Gem Diamonds Ltd share price was -2.62p at 114.38p

[LON:HOC] Hochschild Mining PLC share price was +8.95p at 241.75p

[LON:KMR] Kenmare Resources PLC share price was +6.5p at 301.5p

[LON:MTL] Metals Exploration PLC share price was 0p at 4.88p

[LON:VED] Vedanta Resources PLC share price was +19.5p at 1020.5p



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