Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas company with its focus on Africa, is pleased to announce that its subsidiary Rift Petroleum Ltd ( Rift ), together with Operator and 50% partner New Age Energy Algoa (Pty) Ltd ( New Age ), has now formally agreed to enter the Second Exploration Period of the Algoa-Gamtoos license offshore South Africa. The Company also notes the recent announcements from Total S.A. ( Total ) and Africa Energy Ltd ( Africa Energy ) regarding the results of the Luiperd-1X well, which has reported a further significant gas condensate discovery in Block 11B/12B (Total 45% and Operator, Qatar Petroleum 25%, CNR International 20% and Main Street 1549 Proprietary Ltd 10%) located in the Outeniqua basin, offshore South Africa.
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Chesterfield Resources is pleased to announce that it has appointed Panmure Gordon (UK) Limited as joint broker.
Said Executive Chairman Martin French We are looking forward to working with the team at Panmure Gordon. This represents another important step in our growth strategy given that Panmure Gordon has a strong reach into the institutional market. Global investors are recognising copper as a megatrend and Chestefield is working to rapidly expand its footprint as a main-board listed copper play, backed by a FTSE 100 strategic partner.
Chesterfield Resources is a copper-gold exploration company active in Cyprus, where it holds the largest mineral exploration licence area of any operator on the island. Polymetal International, the FTSE 100 mining group, recently announced it had taken a 22.5% strategic investment in Chesterfield via a placing of new shares.
Ariana is an AIM-listed mineral exploration and development company operating in Europe. It has interests in gold production in Turkey and copper-gold assets in Cyprus. The Company is developing a portfolio of prospective licences in Turkey, which contain a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020).
The Red Rabbit Project is comprised of the Company s flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co. Both assets are located in western Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits. The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production. The total depleted resource inventory at the Project and its wider area is c. 500,000 ounces of gold equivalent (as at April 2020). At Kiziltepe a Net Smelter Return ( NSR )
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