News & Comment
Gold play Centamin Egypt has increased the estimated gold resource at its Sukari project to 9 million oz.
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Gold explorer Centamin Egypt has increased its resource at Sukari in the Egyptian desert by 660,000 oz to 8.12 million oz.
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Centamin Egypt says drilling has revealed bonanza grades in part of its Sukari gold project in Egypt’s Eastern Desert.
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Gold group Centamin Egypt has increased resources at its Sukari project to 11.16 million oz.
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Mining company Centamin Egypt reports bonanza gold grades of 21.83 and 58.58 grammes per tonne of ore at its Sukari project.
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Further drilling at Sukari in the Egyptian desert has increased the total estimated gold resource at the project by another 8.7 per cent to 9.79 million oz.
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Gold group Centamin Egypt has increased its resource at Sukari in Egypt by 9 per cent to 9.01 million ounces.
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As foreshadowed by Growth Company Investor, Centamin Egypt is raising the equivalent of £38 million for its Sukari gold project.
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Centamin Egypt has upgraded the resource estimate at its Sukari gold prospect from 3.85 to 6.79 million oz.
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Gold explorer Centamin Egypt claims a 'newly defined high-grade zone' at its Sukari project.
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Institutional investors have been building up intriguing stakes in gold hopefuls Centamin Eqypt and Griffin Mining, two ventures that are inching towards gold production. Griffin has attracted Gartmore while Centamin Egypt claims to have reeled in 'a big one'. Ben Cobley reports.
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Resources investment group Golden Prospect turned a £1.4 million loss into a £274,152 pre-tax profit last year, boosting its investments and cash to £20.6 million, or 23p a share, and says it will need to tap investors for more funds to build 'a quality investment group', writes Robert Tyerman.
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Sector Articles
Gold has managed to hold its gains at around $310 an ounce, which is maintaining interest in the shares. Forecasts from Johnson Matthey of continuing strong demand for platinum have done no harm to Aim-listed Aquarius Platinum at 375p, though Lonmin at £11.87 has marked time.
Copper has not been so popular, Antofagasta losing some earlier high ground to 588p, though still sound for the long term. A bullish update from Aim-listed First Quantum Minerals on its Kanshanshi copper deposit in Zambia has helped lift its shares to 157p, 46p lower than a year ago but nearly 70 per cent up from its late 2001 low.
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With the FTSE Mining Index still 14 per cent up on a year ago, mining shares continue to show long-term outperformance of the market, despite short-term setbacks. Corporate activity, real and rumoured, continues apace.
Rio at £14.88p is off its best but still showing good gains, while Lonmin at £12.21 is 30p up on the week, though below its peak. Worth holding onto for now.
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Mining market sentiment has been dampened in the short term by gold dipping back below the magic $300 an ounce to $297, although most analysts maintain the underlying trend is still upward. After strong recent performances, Rio at £14.40 and Cluff at 275p are off their best, but progress should be resumed soon.
Companies operating in Africa have been showing off their wares to each other and to investors.
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