Tertiary Minerals Share News (TYM)

Discovery Metals had had its seven prospecting licences in Ngamiland, Botswana renewed for a further two years. "All areas of interest, within these prospecting licences, have been retained," it said.Gold and copper exploration company Kefi Minerals saw loss before tax narrow to £0.47m in the first half of 2010 from £0.77m a year earlier. At 30 June 2010, KEFI Minerals had £638,000 in cash and equivalents.Spain-focused development and exploration company Ormonde Mining made a loss of €0.26m in the first half of 2010, a slight deterioration from the loss of €0.24m the year before.Cash and cash equivalents at the end of June stood at €0.90m, up from €0.26m at the end of June 2009, after the company raised €0.73m (net) back in June. Mineral explorer and developer Tertiary Minerals has signed a contract for a major resource definition drilling programme at its 100% owned Storuman fluorspar project in Sweden. Two drill rigs will be mobilised in the six-week programme to drill 44 diamond holes over an area of 1.8 square kilometres. The primary objective is to define Joint Ore Reserves Committee (JORC) classified indicated and inferred mineral resources. South African acid mine drainage expert Watermark Global saw loss before tax narrow marginally to £0.42m from £0.43m the year before on revenue that dipped to £20,000 from £37,000.The cash position of the company at 30 June 2010 was about £0.76m. The directors are actively conserving cash as the Company awaits a decision from the South African government on the Watermark solution to the imminent acid mine drainage issues.