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Roxi Petroleum, a Central Asian oil and gas company, said drilling of the well NK7 Galaz contract area has reached a total depth of 1,360 metres and preliminary interpretation indicates that the well encountered oil bearing zones. Once the evaluation work led by its partners is complete, perforation
Read moreSoaring losses and a diminishing cash pile mean gold explorer Solomon Gold could do with a cash infusion soon if it wants to carry on mining. The group racked up a loss in the second half of 2011 of A$2.24m, more than twice the loss of A$1.08m in the latter half of 2010, as share based payments exp
Read moreSolomon Gold, a gold explorer with interests in the Solomon Islands and Australia, has bought three prospecting licences and one reconnaissance licence in the Solomon Islands, covering a total area of 389 square kilometres. The purchase, from Honiara Holdings, cost A$50,000 and has seen Solomon's s
Read moreSolomon Gold, the gold explorer focused on Australia and the Solomon Islands, says it has seen encouraging results at its Rannes project in Queensland. In November the company released resource estimates of 812,000 ounces of gold equivalent at the site. It now says within Rannes, two prospects whic
Read moreWith global stock markets toasting the news of a co-ordinated action by central banks and China's efforts to boost its economy, there were no sectors in the red on Wednesday afternoon. Mining stocks, which have been sensitive to global macro-economic developments over the last few months, were the
Read moreShares in AIM-listed gold miner Solomon Gold rocketed on Wednesday after the firm upped its resource estimates for the Rannes Project, the second time it has done so in two months. The inferred mineral resources estimate for wholly-owned project in Central Queensland has now been increased by 20% f
Read moreThe FTSE 100 quickly snapped out of its poor start to finish with gains, though these were somewhat off earlier highs following the start of trading on Wall Street. Gold producers such as Randgold Resources and Petropavlovsk were driven higher by rising prices for the precious metal. Oilfield serv
Read moreDespite a faltering start, the FTSE 100 is now posting near triple-digit gains with resource stocks in particular posting big gains. A surging gold price, which stands just below the $1,900 level drives FTSE 100 miner Randgold Resources to the top of the pile. Oilfield services group Petrofac was
Read moreThe resource estimate at gold miner Avocet's Inata mine license area in Burkina Faso has been upped by 59% to 3.36m ounces. The figure includes measured, indicated and inferred resources. "The growth of the Inata Mineral Resource surpasses our expectations and supports our view that the Inata gold
Read moreMinerals explorer Solomon Gold and its partner Newmont Mining are making progress on the Guadalcanal JV Tenements on the Solomon Islands and exploration plans for 2011 have been finalised. AIM-quoted Solomon is focused on gold exploration in the Solomon Islands and Australia. Significant copper
Read moreForte Energy has completed a 7,000m drilling program at its A238 uranium anomaly in the north of its leases in Mauritania and a 1,500m diamond drilling program should be completed next month. "These initial results are from the first pass shallow drilling along strike, and confirm the presence of
Read moreBlue chips staged an impressive late rally to finish more than 100 points higher for the second day running. There was no big bond repurchase programme today from the European Central Bank, but a decision to extend the current one for three months was enough to get buyers in a lather again. "We ex
Read moreThe absence of any mention of plans to launch a bond purchase in the European Central Bank (ECB) press conference this afternoon has taken some of the glow off equities. "We expect the governments to follow what they are committed to, they all have their adjustment and stabilisation programmes," E
Read moreCompany announcements have mostly been well-received today, helping to keep the leading share index in positive territory. All eyes will be on European Central Bank President (ECB) Jean-Claude Trichet at this afternoon's press conference following the interest rate decision for the eurozone, which
Read moreGold miner Solomon Gold said that results from recent drilling at various Queensland prospects continue to support the targeted resource definition of one million ounces of gold equivalent. The recent drill results from the Brother prospect at Rannes has been most encouraging, where the potential
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