Pantheon Resources plc Share News (PANR)

Colombia-focused oil and gas group PetroLatina has raised $11.5m from a placing of shares at 40p each, with $10m bought by major shareholder Tribeca Oil & Gas Inc and the rest by a business linked to chief executive Juan Carlos Rodriguez.The fundraising, which will finance the ongoing work programme and exploration expenditure in Colombia, gives Tribeca a 54% stake in the Latin America-focused business.Separately, Rorick Ventures, a Rodriguez company, has bought 294.5m shares from Dignam Holdings at 50p each. Rodriguez now owns 15.6% of PetroLatina.Metminco's regular quarterly update provided "no major surprises", according to broker Daniel Stewart, although it neatly summarised a series of recent successes.But the miner did say Hampton's option to buy the three core licences at the Los Calatos project in Peru, owned by Metminco's North Hill unit, has been extended to the end of September. Berkeley Resources is at its best since mid-May after making further progress toward the initial Feasibility Study for the Salamanca uranium project (SUP) in Spain, which it expects to complete by the end of the year. "The infill resource and extension RC (reverse circulation) drilling programme is nearly 50% complete," said managing director Ian Stalker. "The initial results are providing upside to the existing resource models and equally importantly enable upgrading of the Inferred resources at Alameda and Sageras."Production at Allied Gold's Simberi mine grew by 24% to 18,109 ounces in the fourth quarter from the previous three months, taking output for the 12 months to 64,327 ounces.Allied estimates production at Simberi will be 18,000-19,000 ounces in the September quarter, while Gold Ridge in the Solomon Islands should yield around 30,000oz in the period to 30 June 2011 following first gold expected in March.Shares in Avisen dropped after the performance management specialist's pre-tax losses widened to £3.1m from £100,000, partly due to the costs associated with integrating new acquisitions.Film and DVD distributor Metrodome said talks regarding a possible acquisition of all or part of Target Entertainment have terminated after the companies failed to agree mutually satisfactory commercial terms with the various stakeholders of Target. The board will continue to look at other possible acquisitions, it said.Mine developer London Mining has entered into a joint venture agreement with Atacama Mining Resources, which has options over concessions to iron ore deposits in Atacama, northern Chile, to 'take advantage of several iron ore opportunities' in the region.Also in mining, shares in Norseman Gold fell even after the Australian gold producer unveiled a rise in production to 14,469 ounces from 14,114 the previous month, with gold prices rising to A$1,343 an ounce from A$1,224.Sticking with precious metals, the suspension of operations at one of its plants contributed to a 16% decrease in platinum group metals production to 6,937 ounces at Sylvania Resources, which operates in South Africa.Oil and gas group Pantheon, which operates in Louisiana and Texas, saw its shares fall after reporting delays in drilling at one of its wells.'This is due to the continued tight market for drilling which has led to the lack of availability of a suitable specialised rig,' the company said.