Hummingbird Resources Ltd (LON:HUM) has awarded the engineering, procurement and construction management (EPCM) contract for its Yanfolila gold project in Mali to South African project management firm SENET (Pty) Ltd.
The firm has also appointed Wayne Galea as project manager to oversee the whole process.
The focus was on a prospect called Ilunga, 2.5 kilometres from the main processing facility with this, the second wave of drilling in the area, designed to test the strike extension.
The best intercepts from the 20-hole programme included 13 metres at 4.19 grams per tonne of the yellow metal, including 10 metres at 5.3 grams; 3.2 metres at a bonanza 40.64 grams and 2.06 metres at a 10.46 grams.
The change will need shareholder approval, as will the plans to simplify the trading brand of the group to ‘Breedon’.
The company said the design and basic engineering of the company's new 10 kilowatt (kW) fuel cell system has been completed. This was milestone number four of the company's published 2016 strategic milestones schedule.
In a pre-close statement the producer and marketer of high purity stevia ingredients told investors revenues would be “not less than” US$138mln for the 12 months to June 30.
Underlying earnings (EBITDA) are expected to be US$37mln, while net profit is expected to have grown 275% to US$15mln. The company also said it generated positive cash flow in the period as it gave a reasonably upbeat assessment of the prospects
In the same announcement the company said effective today Rakesh Sinha takes over from the departing William Mitchell as chief financial officer.
The firm's first immunoBody candidate, named SCIB1, is being developed to treat melanoma - the most dangerous form of skin cancer.
Savannah is issuing new shares at 38p each with existing and new investors to carry out seismic studies of an area covered by the R3 production sharing agreement (PSC) in the Agadem Rift Basin in the south-east of the African nation.
Exploration and development firm Mariana Resources Ltd (LON:MARL) has strengthened its relationships with Lidya Mining and Sandstorm Gold Ltd (NYSEMKT:SAND) by appointing a director from each company to its board.
Mustafa Aksoy, general manager at Turkish miner Lidya, along with Sandstorm Gold’s vice president of finance, Ron Ho, will now sit on Mariana’s board as non-executive directors.
CMC, which is 10% owned by Leni Gas Cuba, is now hopeful that its coffee project in the Cuban province of Guantanamo will begin in early 2017, following agreement on the principal terms for co-operation with the Asdrubal Lopez coffee processing plant in Guantanamo.
REM holds a 16.4% stake in EMH, which owns the exploration rights to the Cinovec lithium-tin-tungsten project, and results from hole PSn13 returned a main mineralised intercept of 167.1 metres averaging 0.36% Li2O (lithium oxide) along with high grade intervals of 12 and 7 metres.
Screens and plant modifications are now at site and installation is progressing despite prior delays at the Zimbabwe/South Africa border, the company told investors.