Kenneth G. Mondero

Max Petroleum plc (LSE:MXP) has found a white knight to fund its already over-budgeted exploration programme in Kazakhstan, thanks to one of the company’s driller, Zhandros Drilling LLP, who agreed to carry on exploration activities for the company in exchange for nearly 10% of the oil and gas explorer’s current issued capital. In a statement […]

Lower commodity prices coupled with the uncertainty in Europe and the United States have hit another heavy trader of metals as the world’s second largest mining firm, Rio Tinto Group (LSE:RIO), reported a reduction of a more than a fifth of its profit for the first half of the year. Rio Tinto said it made […]

West African diamond miner and producer Stellar Diamonds (LSE:STEL) said today its initial samples from the Droujba Project in Guinea exceeded expectations in both grade and quality and plans to upgrade its resource by the fourth quarter of 2012. According to the company, about 173 carats at an average grade of 188 carats per hundred […]

Falkland Oil & Gas Limited (LSE:FOGL) has signed in a new partner in its exploration in the Falkland Islands in a contract that is estimated to be worth between US$180 and $230 million in the next three years, the company said today. Noble Energy Falklands Limited, an affiliate of NYSE-listed Noble Energy, Inc. (NYSE:NBL), entered […]

EMED Mining plc (LSE:EMED), gold and copper explorer, has acquired the last piece of land necessary to restart operations of the Rio Tinto Copper Mine in Spain for €5 million, the company said today. The purchase will be satisfied by €1 million in cash at the execution of the Sale and Purchase Agreement, announced today, […]

FTSE 250 oil and gas firm Ophir Energy plc (LSE:OPHR) made its sixth gas discovery in Tanzania but said the gas find was lower than what the company hoped it would have. In a statement released earlier today, the Africa-focussed explorer said Papa-1 well, its sixth well located in Block 3 offshore Tanzania, encountered 89 […]

Gold and copper miner SolGold plc (LSE:SOLG) said today its partner, Newmont Ventures Limited, in the Guadalcanal Joint Venture in Solomon Islands will cease funding the project and will resign as manager of the exploration. Newmont Ventures, a subsidiary of NYSE-listed Newmont Mining Corporation, made the decision after having spent about US$19 million in the […]

Gold exploration and mining company Avocet Mining plc (LSE:AVM) said the second quarter of 2012 was a challenging period for the company, as the company revealed reduced gold production and sharp fall on profit. In its unaudited results released today, Avocet’s gold production was down 14% from last quarter’s at 32,917 ounces and 16% lower […]

Oil and gas explorer and producer Coastal Energy Company (LSE:CEO) (TSX:CEN) said today its offshore proven reserves have increased by 30% to 81 million barrels of oil (mmbbl) while offshore probable reserves increased by 26% to 87.9 mmbbl. The latest report, prepared by RPS Energy Ltd., brings the total company proven reserves to 87.9 mmboe, […]

Tanzania-focussed gold explorer Shanta Gold Limited (LSE:SHG) has more than doubled its total gold resource from its New Luika Mine and now has 1.4 million ounces of the yellow metal with an average grade of 3.22 grams per tonne, the company said today. The new JORC-compliant report follows the exploration and infill drilling at five […]