Kenneth G. Mondero

Iron ore producer London Mining plc (LSE:LOND) has signed a deal to give 2% royalty from the sales of iron ore from its Marampa Mine in Sierra Leone in exchange for US$110 million upfront cash. BlackRock World Mining Trust plc (LSE:BRWM), a mining and metals securities-focussed investment company, is the other party to the transaction […]

Giant commodities miner Anglo American plc (LSE:AAL) acknowledged the deterioration of the world economy in the “short term prospects” as it reported huge decline in EBITDA and underlying earnings. Releasing its half year results today, the soon to be majority owner of De Beer saw a decline of 31% in EBITDA to US$4.9 billion, while […]

Barclays plc (LSE:BARC) Chairman, Marcus Agius, apologised on behalf of the universal bank once again, for the scandals that not only hit it but the greater UK financial sector in the past weeks, as the company reported its half year results. Sorry may seem be the hardest word but that’s probably the only appropriate thing […]

South America-focussed oil and gas explorer Amerisur Resources plc (LSE:AMER) hit 75 feet of gross oil column with 51 feet of potential net pay from its Platanillo field in Colombia, its second discovery for the year, and will perform flow and pressure tests during the next two weeks, the company said today. The Platanillo-4 well, […]

Independent oil and gas producer Faroe Petroleum plc (LSE:FPM) said the company “encountered hydrocarbons” from its Cooper Well in the Norwegian Sea, moving shares up by 5.5% to £1.44 a share with a turnover of more than a million, by noon GMT. The news is a reversal of the disappointing result of the company’s first […]

Heavy trading on the stocks of Rare Earth Minerals plc (LSE:REM) was seen early today following the company’s announcement it has been awarded three exploration licences in Greenland. In a statement, REM said the three licences, acquired through the “significant effort from the board”,  cover an area of about 832 square kilometres, two of which […]

Irish oil explorer Providence Resources plc (LSE:PVR) said the Barryroe oil field off the coast of Ireland has between 1 and 1.6 billion barrels of oil in place following a series of comprehensive post-well studies. In a statement released earlier today, data from 2D seismic, 3D seismic, and six wells drilled on the said field […]

Precious and base metals miner Mwana Africa plc (LSE:MWA) has more than doubled its gold production from its Zimbabwe mine for the first three months of the current financial year, as against the same period a year ago. In a statement released today, the AIM-quoted Africa-focussed resource company said it produced some 17,985 ounces of […]

Shares of Dragon Oil plc (LSE:DGO) were trading in the red today, despite an “eventful” first half of the year, as described by its Chief Executive Officer, Dr. Abdul Jaleel Al Khalifa. The Turkmenistan-focussed oil nd gas exploration, development, and production company said average daily production rate has increased by 10.7%, to 64,000 barrels of […]

Uranium Resources plc (LSE:URA) said the company is “on course” to release its first JORC-compliant resource by the first quarter of 2013, following its fifth update on the company’s 100% owned Mtonya Project in Tanzania. In a statement released earlier today, the uranium explorer reported “significant intercepts” after drilling a total of 16,500 metres, including 650 parts […]