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.
Kryso sees February resource boost
Tajikistan-focused Kryso Resources hopes to establish a potential gold resource of 500,000 oz in its Pakrut licence area.
AIM-quoted Kryso, with an experienced and locally well-connected board and about £500,000 in the bank as of 1st October, is developing the Pakrut gold deposit in the mining-friendly Central Asian republic of Tajikistan on the mineral-rich Tien Shan belt. Soviet-era drilling inferred a resource estimate of 1.3 million oz at 4.2 grammes of gold per tonne of ore, and Kryso's South African managing director Vassilios Carellas hopes to establish 500,000 oz under today's industry-standard 'JORC' measurement by early February.
Carellas wants to have a feasibility study ready by mid-2007 and to start production in the last quarter of 2008, starting with open-pit extraction before moving underground. He sees further exploration prospects in the same region, at Eastern Pakrut, where grades of six grammes a tonne have been encountered, at Sulfifdnoye with 10.3 grammes a tonne at the surface and at Rufigar.
Likely production costs, before capital costs, should come out at $250 to $300 an ounce. That compares well with a current market price of $625, suggests Carellas.
In addition, Kryso is investigating nickel and copper potential at another wholly-owned property, Hukas, a sulphide deposit where Soviet records show nickel grades of 2.86 per cent (worth nearly £1,000 per tonne of ore), with 0.08 per cent copper and 2.3 grammes a tonne of platinum group metals. The company will start test drilling next year.
At some point, more funds will presumably be needed to complete these programmes unless drilling results are impressive enough to attract a cash-rich partner or bidder. Kryso floated three years ago at 10p, with RAB Capital in for 15.5 per cent at a pre-float 6p and famed bear-raider Simon 'Evil Knievel' Cawkwell on the board.
He resigned last year, but still holds 4.3 per cent of Kryso, whose shares peaked at 17.25p in December 2004 and now stand at 8.75p, valuing the company at £4.9 million. Kryso has speculative appeal.
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
