Source - SMW
Amur Minerals Corporation (LON:AMC) has signed a non-binding letter of intent with IG Copper LLC to investigate potential synergies in processing the companies' respective sulphide concentrates. 

Amur plans to create a concentrate treatment facility adjacent the Baikal-Amur Magistral railway (BAM) to exploit existing transport routes and available hydropower in the region. 

Amur's Kun-Manie project will likely yield a single concentrate from its nickel-copper sulphide ores for smelting into a saleable Low Grade Matte.

IGC is in a joint venture with US based Freeport McMoran and controls the Malmyzh copper gold deposit in Khabarovsk Krai, Far East Russia. 

The JV has recently obtained a production licence for the mining rights to the Malmyzh deposit, The Amur River and the Russian rail system provide ready access to this project.

Both Amur and IGC are working closely with the Russian Far East and Baikal Region Development Fund. 

FEDF is dedicated to the development of large scale projects in the Far East to upgrade the social, economic and infrastructural sectors of this vast region. 

* * *

Berkeley Energia (LON:BKY) says additional high grade intersections have been recorded below the Zona 7 deposit, further supporting previous indications of continuity of mineralisation beneath the current defined resource.

Results from a further four holes drilled through the near-surface Zona 7 deposit and extended to a maximum depth of 271 metres have reported grades consistent with, or higher than, the average grade of the Zona 7 resource.

Outstanding intercepts include:

- 14 metres @ 1,776 ppm U3O8 incl. 8 metres @ 2,644 ppm U3O8

- 26 metres @ 1,103 ppm U3O8 incl. 4 metres @ 3,973 ppm U3O8

- 10 metres @ 635 ppm U3O8 incl. 1 metre @ 2,246 ppm U3O8

- 14 metres @ 597 ppm U3O8 incl. 2 metres @ 1,204 ppm U3O8

- 17 metres @ 563 ppm U3O8 incl. 2 metres @ 1,160 ppm U3O8

The drilling at Zona 7 is part of the ongoing exploration programme across numerous key targets at the Salamanca project.

The drilling beneath Zona 7 complements three holes drilled earlier this year in which broad, high grade intersections were reported at up to 14 metres @ 4,481 ppm U3O8 (please refer to announcement on 27 January 2016).

Managing director Paul Atherley said: "Given the transformational effect the shallow, high grade Zona 7 deposit has had on the project's economics the primary focus of the current exploration program has been to look for more of the same. Further high grade intercepts located immediately below Zona 7 are extremely encouraging and point to potential resource upside at the deposit."

* * *

Kibo Mining (LON:KIBO)  has received proof of payment for the amount of $1,800,000.00 from SEPCO III. 

This payment was received in settlement of the first fixed payment due under the new agreement with major international China based EPC contractor, SEPCO III, announced on 25 August. Kibo Mining chief executive Louis Coetzee said: "SEPCO III's prompt and diligent performance with regard to the first payment due under the Agreement demonstrates great enthusiasm for and belief in the MCPP as well as in the company. 

"We believe that all the remaining conditions in the agreement will be met with the same diligence and that the Kibo/SEPCO III relationship will play a pivotal role in the further development and ultimate delivery of the MCPP."

* * *

Petra Diamonds (LON:PDL) will announce its preliminary results for the year ended 30 June on 19 September. 

* * *

KEFI Minerals (LON:KEFI) has issued an operational update for the period from 1 July to 31 August. The update encompasses the activities of KEFI Minerals (Ethiopia) Ltd in Ethiopia and Gold & Minerals Ltd ("G&M") in Saudi Arabia.

Tulu Kapi gold project, Ethiopia (wholly-owned by KEFI; government entitled to 5% free carried interest):


-    No slippage in KEFI's estimate of total capital requirement of c. US$130-140 million, inclusive of financing costs and an allowance for contingencies

-     Completion of the evaluation process by the Development Bank of Ethiopia and the clearance of the proposed maximum senior debt-gearing of c. US$85 million by the National Bank of Ethiopia (the central bank)

-     Encouraging dialogue with a number of potential lenders as possible participants in the syndicate alongside the Development Bank of Ethiopia


-     KEFI's Social Performance Team prepares, with the Government at all levels, for the community resettlement, livelihood restoration and community development programs

-     Verification of the compensation claims is now being arranged to ensure regulatory compliance

-     Procurement, detailed engineering and contractual documentation are being conducted in parallel with the community resettlement schedule

Gold & Minerals Ltd Joint Venture, Saudi Arabia (40%-owned by the company with KEFI as operator):

Encouraging signs from Government:

-    New Energy, Industry and Mineral Resources Ministry created, to be headed by Khalid al-Falih, chairman of state oil company Saudi Aramco

-     Ministry will handle oil and gas extraction, power generation and distribution, mining and industrial development

-     KEFI and its partner ARTAR, through its joint venture vehicle Gold & Minerals Company Ltd, see this as a positive sign and expect new mining policy to be issued before year-end

Jibal Qutman:

-     KEFI's plans for developing a heap leach gold project at the Jibal Qutman development await the outcomes of the Government policy review  


-     Re-commenced fieldwork, focusing on depth-measurement of large buried targets as a prelude to drilling   Portfolio of Licence Applications

-     Upgraded its portfolio of licence applications    


-     Fully discharged the inherited VAT liability and now entitled to a US$3.5 million refund

-     Raised £3.8 million primarily for the scheduled development activities of the Tulu Kapi Gold Project, notably resettlement of the Tulu Kapi community and project finance syndication closure costs

-     New joint broker RFC-Ambrian has been appointed

-     Mr Mark Wellesley-Wood, experienced African mining operator, joined the Board as Non-Executive Director

-    Received proposals to joint list on the TSX stock exchange in Canada. This will be duly assessed and considered by Board of Directors

* * *

 Landore Resources (LON:LND) has issued a progress report on extension drilling of the BAM East Gold prospect on its Junior Lake Property, Ontario, Canada.   The summer drilling campaign is now complete. In total, 22 NQ diamond drill holes (0416-524 to 0416-545), for 4,077 metres (m), have been drilled to test the east, west and down dip extensions of the new gold zone. To date results have been received for the first 12 drill holes.   Highlights:  

-    Drilling results continue to report wide zones of gold mineralisation including high grade intersections with drill-hole 0416-535 reporting 53.50 metres (m) at 1.38 grams/tonne gold (g/t) including 9.00m at 4.74g/t gold and 1.00m at 30.60g/t gold.  

-     Additional sampling within the adjacent leucogabbro rock has significantly extended the mineralisation in the previously reported drill-hole 0416-525 from 24.5m at 0.98g/t gold to 40.5 m at 1.32g/t gold.  

-    Visible Gold: 20 of the 28 holes so far drilled into the Bam East Gold Prospect have multiple instances of visible gold (VG) up to 2 millimeters long occurring as singular pieces or in clusters contained in or adjacent to quartz veinlets.  

-    Drilling has now confirmed BAM East Gold Prospect lithology to 500m along strike and up to 150m down dip. The prospect remains open to the east and west and down dip.  
  At 4:20pm:

(LON:AMC) Amur Minerals Corporation share price was +0.24p at 3.41p

(LON:BEM) Beowulf Mining PLC share price was 0p at 4p

(LON:BKY) Berkeley Energia Ltd share price was +2.5p at 45.5p

(LON:CEY) Centamin PLC share price was +1.55p at 155.75p

(LON:CHL) Churchill Mining PLC share price was +0.25p at 27.38p

(LON:CZA) Coal of Africa Ltd share price was +0.25p at 3.55p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 42.5p

(LON:FRES) Fresnillo PLC share price was +7p at 1675p

(LON:GEMD) Gem Diamonds Ltd share price was +0.63p at 126.88p

(LON:HOC) Hochschild Mining PLC share price was +1.75p at 263.35p

(LON:KEFI) KEFI Minerals PLC share price was -0.02p at 0.48p

(LON:KIBO) Kibo Mining share price was +0.25p at 6.13p

(LON:KMR) Kenmare Resources PLC share price was -5.88p at 260p

(LON:PDL) Petra Diamonds Ltd share price was -2.25p at 116p

(LON:VED) Vedanta Resources PLC share price was +6.2p at 505.5p

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