Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Mariana eyes Toronto quote
With a resource estimate imminent for its Las Calandrias gold project in Argentina, Mariana Resources (MARL) plans to list in Toronto. Already quoted on AIM, the New South Wales-based company, which has nearly £6 million cash, is understood to be debating whether to accompany a parallel Canadian quote with a new fund raising, as it prepares to start drilling this summer at the southern, Calandria Sur, part of the project and revisits its original Sierra Blanca project, where the company intends to exercise an option to take out its 30 per cent minority partner, IAM Gold, for £600,000 in cash and shares.
Chairman John Horsburgh enthuses about the potential for extensions of the deposit and high-grade feeder zones at Calandria Sur, in an area honeycombed with gold prospects and prospecting companies. He also stresses possibilities at Calandria Norte, a more recent discovery at the northern part of the project, where Mariana has struck some high-grade intercepts, including 0.95 metres at 139 grammes of gold per tonne of ore and 0.75 metres with gold at 450 grammes a tonne.
The company, which floated in 2006 on the strength of potential at Sierra Blanca, met with disappointment there the following year, but more recently found new intersections, including six metres at 4.5 grammes a tonne and three metres at 9.5 grammes a tonne. Having established new targets, Mariana will soon finish a new drilling programme there.
Elsewhere, new drilling is planned at another project, Nido Norte, which has so far revealed gold intersections ranging from 26.3 metres at one gramme a tonne to 0.8 metres at eight grammes a tonne, and at Los Amigos, where the company has a 49 per cent stake. In neighbouring Chile, Mariana has a three-year option on Tolita, a gold and copper project in the Maricunga Belt, and 30 per cent of a joint venture with the US Cliffs company.
Growth Company Investor recommended Mariana shares at 4.75p in 2008 and suggested partial profit taking at 39.75p last November. They now trade at 26.13p, valuing the company at £47.2 million and the remainder are worth holding while gold remains popular.
Achieve impressive returns
Gain instant access to some of the best-performing and fastest growing companies in the small cap arenaClick here
Advertisement
Achieve impressive returns on the go
Gain instant access to some of the best-performing and fastest growing companies in the small cap arena. Sign up NOW!
Institutional Investors in AIM 2011 - New Report
This unique study analyses the shareholdings of companies listed on AIM, extracting trends including rankings of the value and number of their investments.
Please click here to order your copy of the report or call 0207 250 7056.
Coverage of AIM, techMARK and PLUS Markets
Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
If you're interested in business tax updates visit our specialist tax guide website.
Latest small-cap and growth company news
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Popular News
Acquisition
Acquisitions
Aim
Aim Market
Boardroom Moves
Breaking-even
British Technology
Cash
China
Commodities
Credit Crunch
Deals & Contracts
Debt
Dividend
Emerging Markets
Full List
Fundraisings
Gold
Growth Company
Growth Stocks
Loss Making
Main Market
Mergers & Acquisitions
New Issues
Penny Shares
Placing
Plus Markets
Profit Warning
Restructuring
South Africa
Speculative Punts
Technology
Trading Update
Turnaround
Undervalued
Advertisement
Latest News
Shell considers Cove 24/05/2012
Oil giant Shell is extending its offer period for Mozambique-focused Cove Energy (COV) after having its bid trumped by Thai government-owned PTT Exploration & Production.
Roxi reaches 1,360 metres 23/05/2012
Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.
Cluff Natural Resources joins AIM 22/05/2012
Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.
Red Emperor exercises Shabeel 21/05/2012
Somalia-focused oil explorer Red Emperor Resources (RMP) has exercised its option to take part in the drilling of the Shabeel North well.
Heritage happy in Iraq 18/05/2012
Oil concern Heritage Oil (HOIL) has reported its Miran West-3 well in Iraq could deliver 1,000 barrels per day of condensate.
Sectors
Aerospace & Defence
Alternative Energy
Automobiles & Parts
Banks
Beverages
Chemicals
Construction & Materials
Electricity
Electronic & Electrical Equipment
Equity Investment Instruments
Financial Services
Fixed Line Telecommunications
Food & Drug Retailers
Food Producers
Forestry & Paper
Gas, Water & Multiutilities
General Financial
General Industrials
General Retailers
Health Care Equipment & Services
Household Goods
Industrial Engineering
Industrial Metals
Industrial Transportation
Leisure Goods
Life Insurance
Media
Mining
Mobile Telecommunications
Nonequity Investment Instruments
Nonlife Insurance
Oil & Gas Producers
Oil Equipment, Services & Distribution
Personal Goods
Pharmaceuticals & Biotechnology
