LSE Market News

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 […]

The Footsie was helped along today as the share price of Antofagasta (LSE:ANTO) gained 23.00 pence to 1,095 by 12:40 UTC.  The 2.3% gain this morning may be just about enough to push the stock back above its 90-day average again.  The demonstration of investor confidence followed the company’s Production Report for the Second Quarter. […]

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, […]

The London 2012 boxing competition has barely been underway, but one heavyweight has already taken it on the chin.  BP (LSE:BP.) was rocked by a solid punch that started its share price bleeding after the company exposed its Second Quarter results.  Shares dropped 19.85p to 424.60 by midday.  Obviously shaken, CEO Bob Dudley acknowledged the […]

The share price of Tower Resources (LSE:TRP) took a 12% leap upward today following the release of its first half results and the release of an update on its Namibia offshore licence 0010.  The 0.35 pence increase drove the share price to 3.28 by 12:30pm UTC. Mid-Year Results The emphasis in the first half report […]

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 […]

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 […]

When a footballer scores a single goal in a game, it may not seem like a big deal, but when he scores a single goal in every game, that is quite a different story!  The same is true in the stock market.  Risk specialist and employee benefits consultant Jardine Lloyd Thompson (LSE:JLT) reported an 11% […]